Triax UK Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02213714

TRIAX UK LIMITED

FILLETED ACCOUNTS

31 December 2025

TRIAX UK LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Intangible assets	5	964,167	280,667
Investments	7	11,166	11,166
		---------	---------
		975,333	291,833

CURRENT ASSETS

Stocks		1,714,406	2,437,034
Debtors	8	724,273	1,116,008
Cash at bank and in hand		482,021	657,195
		------------	------------
		2,920,700	4,210,237

CREDITORS: amounts falling due within one year	9	2,105,961		3,072,009
		------------		------------
NET CURRENT ASSETS			814,739	1,138,228
			------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,790,072	1,430,061
			------------	------------
NET ASSETS			1,790,072	1,430,061
			------------	------------

CAPITAL AND RESERVES

Called up share capital	1,000	1,000
Capital redemption reserve	200,000	200,000
Profit and loss account	1,589,072	1,229,061
	------------	------------
SHAREHOLDERS FUNDS	1,790,072	1,430,061
	------------	------------

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts were approved by the board of directors and authorised for issue on 22 May 2026 , and are signed on behalf of the board by:

Mr G Vaughan

Director

Company registration number: 02213714

TRIAX UK LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2025

1. GENERAL INFORMATION

The company is a private company, limited by shares, incorporated in England and Wales, with a registered number 02213714 . The address of the registered office and principal place of business is Unit 14 Abergorki Industrial Estate, Treorchy, Mid Glamorgan, CF42 6DL, United Kingdom.

2. STATEMENT OF COMPLIANCE

Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical costs basis and are prepared in sterling, which is the functional currency of the entity.

Foreign currencies

Assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of transaction with all differences taken to the profit and loss account.

True and fair override

The directors have presented certain transactions relating to the purchase of Triax UK and the extraction of the company's trade and assets from group banking commitments in a way that differs from their legal form and have disclosed them as deemed distributions in the Statement of Changes in Equity. The directors have chosen to present these transactions in this manner as they believe it better represents the substance of these transactions and that the accounts still present a true and fair view, which they may not if presented according to their legal form.

Consolidation

The company has taken advantage of the option not to prepare consolidated accounts contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover, which is stated net of value added tax, represents amounts invoiced to third parties in the ordinary course of business for goods supplied and for services provided as principal. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have been transferred to the buyer (usually on the despatch of the goods); the amount of revenue can be measured reliably ; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the year end date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the accounts that arise from the inclusion of gains and losses in tax assessments in the periods different from those in which they are recognised in the accounts.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Intellectual property & development costs	-	10 years straight-line basis

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	3-10 years straight-line basis
Fixtures and Fittings	-	3-10 years straight-line basis

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

The company funds money purchase schemes for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 16 (2024: 16 ).

5. INTANGIBLE ASSETS

	Intellectual property & development costs
	£
Cost
At 1 January 2025	374,564
Additions	756,000
Disposals	( 5,564)
	------------
At 31 December 2025	1,125,000
	------------
Amortisation
At 1 January 2025	93,897
Charge for the year	72,500
Disposals	( 5,564)
	------------
At 31 December 2025	160,833
	------------
Carrying amount
At 31 December 2025	964,167
	------------
At 31 December 2024	280,667
	------------

6. TANGIBLE ASSETS

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2025	37,320	127,487	164,807
Disposals	–	( 24,063)	( 24,063)
	--------	---------	---------
At 31 December 2025	37,320	103,424	140,744
	--------	---------	---------
Depreciation
At 1 January 2025	37,320	127,487	164,807
Disposals	–	( 24,063)	( 24,063)
	--------	---------	---------
At 31 December 2025	37,320	103,424	140,744
	--------	---------	---------
Carrying amount
At 31 December 2025	–	–	–
	--------	---------	---------
At 31 December 2024	–	–	–
	--------	---------	---------

7. INVESTMENTS

	Shares in group undertakings
	£
Cost
At 1 January 2025 and 31 December 2025	11,166
	--------
Impairment
At 1 January 2025 and 31 December 2025	–
	--------

Carrying amount
At 31 December 2025	11,166
	--------
At 31 December 2024	11,166
	--------

8. DEBTORS

	2025	2024
	£	£
Trade debtors	588,876	905,166
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	19,774
Other debtors	135,397	191,068
	---------	------------
	724,273	1,116,008
	---------	------------

9. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,064,934	1,541,028
Corporation tax	136,979	358,028
Social security and other taxes	182,381	23,948
Other creditors	721,667	1,149,005
	------------	------------
	2,105,961	3,072,009
	------------	------------

10. OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	42,610	46,205
Later than 1 year and not later than 5 years	42,008	70,957
	--------	---------
	84,618	117,162
	--------	---------

11. SUMMARY AUDIT OPINION

The auditor's report dated 22 May 2026 was unqualified .

The senior statutory auditor was Neil Gray MPhys(Hons) FCA , for and on behalf of Meadows & Co Limited .

12. RELATED PARTY TRANSACTIONS

Advantage has been taken of the exemption conferred by FRS102 to wholly owned subsidiary undertakings, not to disclose transactions with other group companies. There are no other related party transactions requiring disclosure.

13. OFF-BALANCE SHEET ARRANGEMENTS

Certain transactions in the year have been presented showing the substance of the transaction rather than the legal form in order to present a true and fair view. As a result of these transactions the company has a commitment to pay an amount based on a percentage of positive EBITDA within the following year. This amount totals £106,613 and will be presented as a deemed distribution in the Statement of Changes in Equity in the following year. A similar payment is due to be made for the 2026 financial statements on the same basis, following which this commitment will be discharged.

14. CONTROLLING PARTY

The ultimate controlling party is Mr G Vaughan by virtue of his controlling shareholding.