Damper Technology Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Damper Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04137081 . The registered office is Meadowbank House, Meadowbank Court, Eastwood, Nottingham, NG16 3SL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company has taken advantage of the exemption under section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Damper Technology Limited is a subsidiary of AVK Holding A/S and the results of Damper Technology Limited are included in the consolidated financial statements of AVK Holding A/S which are available from Central Business Register, Denmark.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	10% and 33% straight line
Motor Vehicles	20% straight line
Fixtures & Fittings	20% straight line
Computer Equipment	20% and 33% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Damper Technology Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

2.8. Presentation currency and rounding

The financial statements are presented in pounds sterling (£), which is the functional and presentation currency of the entity. Unless otherwise stated, amounts are rounded to the nearest pound.

2.9. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 39 (2024: 40)

4. Prior Period Adjustment

The prior year's figures have been adjusted due to restating the way the work in progress was disclosed.

The impact of the adjustment was to decrease stocks and work in progress by £976,836, increase debtors by £573,050 and decrease creditors due within one year by £403,786.

There has also been a prior year adjustment made to correctly disclose a creditor which had been offset against debtors. The impact of this has been to increase debtors by £14,957 and increase creditors due within one year by £14,957.

The net impact of these adjustments on the opening shareholders' funds position is £nil.

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 October 2024	163,774	83,500	100,104	246,035	593,413
Additions	76,202	-	660	5,868	82,730
Disposals	-	-	-	(22,867 )	(22,867 )

As at 30 September 2025	239,976	83,500	100,764	229,036	653,276

...CONTINUED

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Damper Technology Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

Depreciation
As at 1 October 2024	123,718	2,783	78,195	226,987	431,683
Provided during the period	42,200	16,700	6,193	11,300	76,393
Disposals	-	-	-	(22,867 )	(22,867 )

As at 30 September 2025	165,918	19,483	84,388	215,420	485,209

Net Book Value
As at 30 September 2025	74,058	64,017	16,376	13,616	168,067

As at 1 October 2024	40,056	80,717	21,909	19,048	161,730

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024 as restated
	£	£
Motor Vehicles	64,017	80,717

6. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 October 2024	283,995

As at 30 September 2025	283,995

Provision
As at 1 October 2024	-
Impairment losses	279,439

As at 30 September 2025	279,439

Net Book Value
As at 30 September 2025	4,556

As at 1 October 2024	283,995

The investments represent investments in subsidiary undertakings. The company holds 20% or more of the share capital of the following companies:

Country of % Shareholding

Company name incorporation shareholding type

Damper Technology India Private Limited India 95.52 Direct

Damper Technology Europe IVS Denmark 100.00 Direct

Orbinox DTL Canada Limited Canada 100.00 Direct

7. Stocks

	2025	2024 as restated
	£	£
Materials	139,478	142,762
Work in progress	32,133	20,529

	171,611	163,291

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Damper Technology Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

8. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	3,540,007	1,623,383
Amounts recoverable on contracts	274,825	573,050
Prepayments and accrued income	153,223	107,040
Other debtors	601	632
VAT	153,078	97,242
Amounts owed by group undertakings	392,951	507,245

	4,514,685	2,908,592

9. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	12,471	11,835
Trade creditors	885,760	822,659
Corporation tax	136,832	96,364
Other taxes and social security	234,365	44,820
Other creditors	17,754	19,331
Accruals and deferred income	694,801	314,066
Amounts owed to group undertakings	262,893	25,758
Payments received on account	574,438	32,246

	2,819,314	1,367,079

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	56,300	64,692

11. Secured Creditors

Obligations under finance leases are secured by fixed charges on the assets concerned.

12. Obligations Under Finance Leases and Hire Purchase

	2025	2024 as restated
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	17,717	20,897
Later than one year and not later than five years	57,757	71,395

	75,474	92,292
Less: Finance charges allocated to future periods	6,703	15,765

	68,771	76,527

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Damper Technology Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

13. Share Capital

	2025	2024 as restated
	£	£
Allotted, Called up and fully paid	100	100

14. Other Commitments

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

	2025	2024 as restated
	£	£
Not later than one year	14,240	19,809
Later than one year and not later than five years	8,812	24,387

	23,052	44,196

15. Related Party Transactions

During the year sales were made to Damper Technology India Private Limited, a subsidiary company, of £5,213 (2024: £13,310), and there were purchases of £312,824 (2024: £57,448). At 30 September 2025 there was a net trading balance owed to them of £240,181 (2024: £14,958).

There was also a loan balance of £13,953 (2024: £24,413) due from Damper Technology India Private Limited

At 30 September 2025, a loan balance of £267,165 (2024: £276,029) was due from Orbinox DTL Canada Limited, a subsidiary company.

At 30 September 2025, a loan balance of £17,804 (2024: £10,801) owed to Damper Technology Europe IVS, a subsidiary company.

During the year purchases were made from AVK Holdings A/S, a group company, of £4,907 (2024: nil). At 30 September 2025, a trading balance of £4,907 (2024: nil) was owed to them.

During the year sales were made to Watecom International Water Network LLC, a group company, of £131,872 (2024: £303,402). At 30 September 2025 there was a trading balance of £111,832 (2024: nil) due from them.

During the year sales were made to Orbinox Brazil Industria E Comercio LTDA, a group company, of £72,428 (2024: £126,418).

During the year purchases were made from InterApp Polska Sp. Z o o., a group company, of £67,503 (2024: £8,588).

During the year purchases were made from Orbinox Valves International S.L., a group company, of £3,789 (2024: £3,896).

During the year no purchases were made from Orbinox UK Limited, a group company (2024: £5,939).

16. Parent Undertaking and Controlling Party

The company's immediate parent company is Orbinox Valves International SL . Orbinox Valves International SL was incorporated in Spain. The most senior parent entity producing publicly available financial statements is AVK Holding A/S, registered in Denmark. The ultimate controlling party is Niels Aage Kjær .

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Damper Technology Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

17. Audit Information

The auditor's report on the accounts of Damper Technology Limited for the year ended 30 September 2025 was unqualified.

The auditor's report was signed by Daniel Johnson FCCA (Senior Statutory Auditor) for and on behalf of Nuvo Audit Limited , Statutory Auditor.

Nuvo Audit Limited

First Floor, Sterling House

Outrams Wharf

Little Eaton

Derby

DE21 5EL

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		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		168,067		161,730
Investments	6		4,556		283,995

			172,623		445,725
CURRENT ASSETS
Stocks	7	171,611		163,291
Debtors	8	4,514,685		2,908,592
Cash at bank and in hand		1,525,542		1,183,891

		6,211,838		4,255,774
Creditors: Amounts Falling Due Within One Year	9	(2,819,314 )		(1,367,079 )

NET CURRENT ASSETS (LIABILITIES)			3,392,524		2,888,695

TOTAL ASSETS LESS CURRENT LIABILITIES			3,565,147		3,334,420

Creditors: Amounts Falling Due After More Than One Year	10		(56,300 )		(64,692 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(26,906 )		(22,005 )

NET ASSETS			3,481,941		3,247,723

CAPITAL AND RESERVES
Called up share capital	13		100		100
Profit and Loss Account			3,481,841		3,247,623

SHAREHOLDERS' FUNDS			3,481,941		3,247,723