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Registration number: 04925284

DEPRAG Limited
Filleted Financial Statements
for the Year Ended 31 December 2025

DEPRAG Limited

Contents

Company Information | 1
Statement of Directors' Responsibilities | 2
Independent Auditor's Report | 3 to 6
Balance Sheet | 7
Statement of Changes in Equity | 8
Notes to the Financial Statements | 9 to 12

DEPRAG Limited

Company Information

Directors | R Saunders Dr E A Hallmann R Mittelmann

Registered office | Unit B4 Pegasus Court Ardglen Industrial Estate Whitchurch Hampshire England RG28 7BP

Independent auditors | Menzies LLP Victoria House 50 - 58 Victoria Road Farnborough Hampshire GU14 7PG

DEPRAG Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DEPRAG Limited

Independent Auditor's Report to the Members of DEPRAG Limited

Opinion

We have audited the financial statements of DEPRAG Limited (the 'company') for the year ended 31 December 2025, which comprise the Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

DEPRAG Limited

Independent Auditor's Report to the Members of DEPRAG Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• | the information given in the for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the .

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• | the financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of directors’ remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit; or
• | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 2], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

DEPRAG Limited

Independent Auditor's Report to the Members of DEPRAG Limited

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatemnets in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including UK Companies Act, employment law, Health and Safety, pensions legislation and tax legislation.
We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management and those responsible for legal and compliance procedures. We assessed the extent of compliance with those legal and compliance procedures as part of our procedures on the related financial statement items.
The engagement partner assessed whether the engagement team collectively had the appropriate compentence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area.
We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. We identified the risk of override of controls as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed by the engagement team included:
- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- Challenging assumptions and judgements made by management in its significant accounting estimates; and
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
The assessment did not identify any issues in these areas.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatment in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s Report.

DEPRAG Limited

Independent Auditor's Report to the Members of DEPRAG Limited

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an Auditor’s Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Mike Ayres FCA (Senior Statutory Auditor)
For and on behalf of Menzies LLP
Chartered Accountants
Statutory Auditor
Victoria House
50 - 58 Victoria Road
Farnborough
Hampshire
GU14 7PG

17 April 2026

DEPRAG Limited

(Registration number: 04925284)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 93,139 | 139,946
Current assets |  |  |
Stocks |  | 61,599 | 157,894
Debtors | 5 | 278,974 | 221,882
Cash at bank and in hand |  | 1,303,238 | 1,247,441
|  | 1,643,811 | 1,627,217
Creditors: Amounts falling due within one year | 6 | (381,861) | (460,956)
Net current assets |  | 1,261,950 | 1,166,261
Net assets |  | 1,355,089 | 1,306,207
Capital and reserves |  |  |
Called up share capital | 7 | 1 | 1
Share premium reserve |  | 99,999 | 99,999
Retained earnings |  | 1,255,089 | 1,206,207
Shareholders' funds |  | 1,355,089 | 1,306,207

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS102 Section 1A - small entities.

Approved and authorised by the Board on 17 April 2026 and signed on its behalf by:

......................................... R Saunders Director
......................................... Dr E A Hallmann Director

DEPRAG Limited

Statement of Changes in Equity for the Year Ended 31 December 2025

| Share capital £ | Share premium £ | Retained earnings £ | Total £
At 1 January 2025 | 1 | 99,999 | 1,206,207 | 1,306,207
Profit for the year | - | - | 48,882 | 48,882
At 31 December 2025 | 1 | 99,999 | 1,255,089 | 1,355,089

| Share capital £ | Share premium £ | Retained earnings £ | Total £
At 1 January 2024 | 1 | 99,999 | 1,018,851 | 1,118,851
Profit for the year | - | - | 187,356 | 187,356
At 31 December 2024 | 1 | 99,999 | 1,206,207 | 1,306,207

DEPRAG Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in the United Kingdom and registered in England and Wales.

The address of its registered office and principal place of business is:
Unit B4 Pegasus Court
Ardglen Industrial Estate
Whitchurch
Hampshire
RG28 7BP
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity;
Specific criteria have been met for each of the Company's activities.

DEPRAG Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period end date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax charge for the period comprises current and deferred tax. Tax is recognised in the profit or loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation rate
Furniture fittings and equipment | 20% - 33% on cost
Motor vehicles | 25% on cost
Other property, plant and equipment | 25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.

DEPRAG Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions.
Contributions to defined contribution plans are recognised when they are due. If contribution payments exceed the contribution due, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 9 (2024 - 8).

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost
At 1 January 2025 | 43,037 | 136,886 | 144,432 | 324,355
Additions | 4,195 | - | 4,490 | 8,685
At 31 December 2025 | 47,232 | 136,886 | 148,922 | 333,040
Depreciation
At 1 January 2025 | 36,490 | 39,829 | 108,090 | 184,409
Charge for the year | 3,012 | 34,221 | 18,259 | 55,492
At 31 December 2025 | 39,502 | 74,050 | 126,349 | 239,901
Carrying amount
At 31 December 2025 | 7,730 | 62,836 | 22,573 | 93,139
At 31 December 2024 | 6,547 | 97,057 | 36,342 | 139,946

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 245,442 | 200,592
Prepayments | 2,587 | 1,718
Other debtors | 30,945 | 19,572
| 278,974 | 221,882

DEPRAG Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 61,536 | 5,137
Amounts owed to group undertakings | 109,232 | 175,040
PAYE and NIC creditor | 23,383 | 27,591
VAT Control account | 59,553 | 81,405
Corporation tax control | 31,107 | 68,194
Accruals and deferred income | 13,175 | 22,498
Other creditors | 83,875 | 81,091
| 381,861 | 460,956

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1 | 1 | 1 | 1

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £18,810 (2024 - £39,930). The company has an operating lease commitment with respect to rent of a property, amounting to £18,810 (2024 - £39,930), which expires in 11 months.

9 | Parent and ultimate parent undertaking

The company's immediate and ultimate parent is DEPRAG SCHULZ GmbH u.Co.KG, incorporated in Germany.