REGISTERED NUMBER: 15947144 (England and Wales)

Directors' Report and

Audited Financial Statements

for the Period 10 September 2024 to 31 December 2025

for

Hitec Products (U.K.) Limited

Page

Company Information

1

Directors' Report

2

Balance Sheet

4

Notes to the Financial Statements

5

Directors:

Mr T A Deisz

Mr E Stokkeland

Registered office:

East Coast House Galahad Road

Gorleston

Great Yarmouth

Norfolk

NR31 7RU

Registered number:

15947144 (England and Wales)

Auditors:

Stephenson Smart (East Anglia) Limited

Statutory Auditor

East Coast House

Galahad Road

Gorleston

Great Yarmouth

Norfolk

NR31 7RU

The directors present their report with the financial statements of the company for the period 10 September 2024 to 31 December 2025.

Incorporation

The company was incorporated on 10 September 2024 .

Principal activity

The principal activity of the company in the period under review was that of The principal activity of the company in the period under review was that of supplying engineering within activities the United Kingdom and internationally.

Directors

The directors who have held office during the period from 10 September 2024 to the date of this report are as follows:

Mr T A Deisz - appointed 10 September 2024

Mr E Stokkeland - appointed 10 September 2024

Mr A D Bird - appointed 13 September 2024 - resigned 22 May 2025

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the Directors' 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 then 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.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, Stephenson Smart (East Anglia) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

Mr E Stokkeland - Director

9 June 2026

Fixed assets

Tangible assets

6

3,514

Current assets

Debtors

7

62,032

Cash at bank

11,807

73,839

Creditors

Amounts falling due within one year

8

(68,237

)

Net current assets

5,602

Total assets less current liabilities

9,116

Capital and reserves

Called up share capital

100

Retained earnings

9,016

9,116

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2026 and were signed on its behalf by:

Mr E Stokkeland - Director

1.	Statutory information

Hitec Products (U.K.) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting 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.

Key estimation and judgements are utilised for the following:

- Depreciation is reviewed by management using the useful economic life of assets stated within the financial statements and comparative sources of information to assess the carrying value stated at the balance sheet date.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue relates to engineering services supplied.

Tangible fixed assets

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

Fixtures and fittings - 25% reducing balance

Computer equipment - 25% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents in the accounts comprises of cash at bank and cash in hand as at the balance sheet date.

4.	Employees and directors

The average number of employees during the period was 5 .

5.	Auditors' remuneration

£

Fees payable to the company's auditors for the audit of the company's financial statements

5,000

Total audit fees

5,000

6.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

Additions

2,993

1,938

4,931

At 31 December 2025

2,993

1,938

4,931

Depreciation

Charge for period

976

441

1,417

At 31 December 2025

976

441

1,417

Net book value

At 31 December 2025

2,017

1,497

3,514

7.

Debtors: amounts falling due within one year

£

Trade debtors

30,890

Other debtors

31,142

62,032

8.

Creditors: amounts falling due within one year

£

Trade creditors

1,054

Amounts owed to group undertakings

49,900

Taxation and social security

8,997

Other creditors

8,286

68,237

9.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

7,100

Between one and five years

7,100

14,200

10.	Disclosure under Section 444(5B) of the Companies Act 2006

The report of the auditors was unqualified.

The senior statutory auditor was Henry Pettitt FCA CTA.

The statutory auditor was Stephenson Smart (East Anglia) Limited.

11.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	Ultimate controlling party

The parent company and controlling party is Hitec Products AS.

The registered office of Hitec Products AS is Ljosheimvegen 1, 4050 Sola, Norway.