REGISTERED NUMBER: 03518831 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

FOR

WEBER-STEPHEN PRODUCTS (U.K.) LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

6

Report of the Independent Auditors

8

Consolidated Income Statement

12

Consolidated Other Comprehensive Income

13

Consolidated Balance Sheet

14

Company Balance Sheet

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Cash Flow Statement

18

Notes to the Consolidated Cash Flow Statement

19

Notes to the Consolidated Financial Statements

20

DIRECTORS:

Mr J T Schollmeyer

Mrs L R Taylor

Mr A J Ponting

Mrs B T Warming

Mr C J Forrest

Mr P Jensen

SECRETARY:

Mr M Smith

REGISTERED OFFICE:

Campus Reading International

Reading

RG2 6DA

REGISTERED NUMBER:

03518831 (England and Wales)

AUDITORS:

Ainsworths Limited

Chartered Accountants

and Statutory Auditors

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

The directors present their strategic report of the company and the group for the year ended 30th September 2025.

REVIEW OF BUSINESS

The principal activity of the group in the year under review was that of wholesalers of barbecues and related products.

The sub-group is part of the worldwide Weber Group which was established in 1952. The Weber Group is one of the world's leading providers of barbecues with the most comprehensive range of barbecue products and services in the industry. The Weber brand is internationally synonymous with barbecuing innovation, perfect barbecue products and the utility barbecuing experience.

The directors consider the results achieved by the group to be satisfactory, considering the current global economy. The group's market share in the world continues to grow and it is envisaged will improve further in the coming years following the continued investment in staffing and resources. The product ranges continue to be regularly updated with new innovative technology which is expected to improve income and profitability.

The group's key performance indicators during the year were as follows:

2024/25

2023/24

Turnover

£311m

£272m

Gross %

29.92%

38.91%

EBITDA

£18.4m

£26.2m

The directors consider the year to be satisfactory. The business has seen a growth in turnover this year with much improved gross profit margins now that the Poland manufacturing facility is fully operational. The costs and overheads have been under pressure this year from global inflation following the recent global conflicts impacting on energy costs.

The group balance sheet has improved due to the profits in the period.

Over the last two years the group has invested heavily in a new manufacturing plant in Poland. This is now having a significant benefit to the group now it is fully operational. it is improving the gross profit margins and profitability of the european region.

The UK group does not have any external funding requirements or reliance on any external creditors. All cash flow funding is monitored and arranged within the Weber Group. The ultimate parent company in the United States has confirmed their commitment to continuing this support to the group.

The directors are confident in the future outlook of the group and are budgeting the group being back in to profits from 2025/26.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal commercial risks and uncertainties faced by the group include the general economic climate, seasonal weather factors and rising costs. The directors monitor these risks in order to respond and react to changes in the market place.

Competitive

The group is reliant on certain major customers for sales of products which are subject to ongoing review. The group is exposed to threats from competition, including imported products, as well as fluctuations in the size of the overall market. The group aims to mitigate competitive risks by continuing to maintain its position as a global barbecue brand through a focus on innovation and delivering high quality products and positive customer and consumer experience.

Legislative framework

The group may be exposed to changes in the legislation framework. In addition, compliance imposes costs and failure to comply with such legislation could result in increased costs and/or reduced sales for the group. The directors regularly monitor compliance and ensure that they are made aware of legislative changes.

Raw materials

The group both manufactures itself and buys finished products from the US parent company. The price of products used in the manufacture of the barbecues can be volatile, and the group is therefore exposed to movements in the price of the commodity products. During the period the group has seen significant rises in its raw material costs

Exchange rates

The group has considered the impact of foreign exchange risk, both from potential gains and losses arising from transactions in foreign currencies and also from the conversion of subsidiaries financial statements to the reporting currency.

Technical

The group relies heavily on its computer systems and associated infrastructure. Failure of such systems would constitute a risk to the group. The group has a series of risk management procedures in place.

SECTION 172(1) STATEMENT

Statement by the directors in performance of their statutory duties in accordance with Section 172(1) of the Companies Act 2006

We the board of directors, of Weber-Stephen Products (U.K.) Limited consider, both individually and together, that we have acted in the way we consider, in good faith, would most likely promote the success of the group for the benefit of our members as a whole in the decisions taken during the year. The following details how we have had regard to the matters set out in s.172(1) (a) to (f) as highlighted in bold below:

The likely consequences of any decision in the long term

The long term success of the Group is always considered in making decisions and this is aligned with the strategy and the risk management procedures within our group. An important factor to achieving this is with the US parent company being at the forefront of the strategic decision making.

The interests of the group's employees

The board recognises that its employees are fundamental to the success of our business. The health, safety and wellbeing of our employees continues to be a priority, and we have implemented measures to ensure all employees feel safe whilst at work, whether that be in the office or at home.

We aim to maintain a working environment that respects the diversity of staff and enables them to achieve their full potential, to contribute fully, and to derive maximum benefit and enjoyment from their involvement in the Group.

The need to foster the company's business relationship with suppliers, customers and others

Stakeholder relationships have been, and continue to be, a key source of value to our business and essential to delivering our strategy.

We seek to promote our values throughout all our stakeholder engagements and consider shared values to be an important factor when engaging with new and existing stakeholders. We conduct regular reviews of current suppliers to ensure that standards are adhered to.

Partnerships are an important cornerstone in our success, and over the years we have formed excellent relationships with key stakeholders.

The impact of the company's operations on the community and environment

We believe we have a responsibility to protect and care for the environment, and we take our responsibilities seriously.

The desirability of the company maintaining a reputation of high standards of business conduct

If there is one area where the Weber Group stand head and shoulders above the competition it is our commitment to quality. When you purchase a Weber barbecue, you are not just getting a high quality product, but a premium warranty too. We are so confident in the quality of our barbecues, we guarantee the individual components of our gas, charcoal and electric barbecues for up to 10 years.

The need to act fairly between members of the company

After considering all the relevant factors, we consider which course of action best enables delivery of our strategy, taking into consideration the financial reward to our shareholders and the impact on stakeholders and our employees. In doing so, the application of ethical and sustainable policies is highly promoted.

FINANCIAL RISK MANAGEMENT

The group's operations expose it to a variety of financial risks that include the effects of credit, currency, interest rate and liquidity risk. The directors actively manage these risks by monitoring levels of risk and the related costs of mitigating these.

The group finances their operations through a combination of retained profits and inter-group loans. They are not exposed to any external funding.

Hedge accounting is not used by the group.

EMPLOYEE INVOLVEMENT

The directors continue to develop employees using both external and in house resources. Programmes are developed around both business needs and personal development. The group continues to appraise all systems and staff wellbeing to actively promote a positive group culture.

It is the group's policy to consult and discuss with employees on matters likely to affect their interests.

In the recruitment of staff and their future career development, individuals are considered having regard to their aptitudes and abilities, irrespective of race, sex, sexual orientation, marital status or disability.

DISABLED PERSONS

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitude of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

ON BEHALF OF THE BOARD:

Mr A J Ponting - Director

26th June 2026

The directors present their report with the financial statements of the company and the group for the year ended 30th September 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of wholesalers of barbecues and related products.

DIVIDENDS

No dividends will be distributed for the year ended 30th September 2025.

RESEARCH AND DEVELOPMENT

The group continues to develop improved barbecue equipment and techniques.

FUTURE DEVELOPMENTS

No significant changes to the group's business are anticipated.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st October 2024 to the date of this report.

Mr J T Schollmeyer

Mrs L R Taylor

Other changes in directors holding office are as follows:

Mr E W Chalut - resigned 6th June 2025

Mr A J Ponting - appointed 17th October 2024

Mr M G Jacobs - appointed 17th October 2024

Mrs B T Warming - appointed 17th October 2024

Mr C J Forrest and Mr P Jensen were appointed as directors after 30th September 2025 but prior to the date of this report.

Mr M G Jacobs and Ms N M Misch ceased to be directors after 30th September 2025 but prior to the date of this report.

STREAMLINED ENERGY AND CARBON REPORTING

As the group has not consumed more than 40,000 kWh of energy in the UK in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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). 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 the group and of the profit or loss of the group 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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr A J Ponting - Director

26th June 2026

Opinion

We have audited the financial statements of Weber-Stephen Products (U.K.) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 Financial Reporting Standard 102 '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 group's and of the parent company affairs as at 30th September 2025 and of the group's 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 directors' 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 group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

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

Based on our understanding of the group and parent company and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006 and tax legislation.

We have evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to inappropriate journal entries, improper application of revenue cut-off procedures, omission of provisions and management bias within accounting estimates and judgements. Our audit procedures designed to address these risks included, but were not limited to:

-

Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal controls;

-

Enquiries with management, regarding any known or suspected instances of non-compliance with laws and regulations and fraud;

-

Challenging assumptions and judgements made by management in their significant accounting estimates, in particular, those relating to provisions and future performance;

-

Auditing the risk of management override of controls, including through the testing of journal entries and other adjustments for appropriateness;

-

Revenue year end cut-off procedures;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; and

-

Agreement of the financial statements disclosures to the underlying supporting documentation.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Mark Sunter (Senior Statutory Auditor)

for and on behalf of Ainsworths Limited

Chartered Accountants

and Statutory Auditors

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

26th June 2026

TURNOVER

3

310,671,010

272,424,182

Cost of sales

217,707,502

166,426,587

GROSS PROFIT

92,963,508

105,997,595

Administrative expenses

75,921,758

81,438,278

OPERATING PROFIT

5

17,041,750

24,559,317

Interest receivable and similar income

1,243,186

1,317,144

18,284,936

25,876,461

Interest payable and similar expenses

6

3,403,796

4,345,724

PROFIT BEFORE TAXATION

14,881,140

21,530,737

Tax on profit

7

1,159,378

1,030,008

PROFIT FOR THE FINANCIAL YEAR

13,721,762

20,500,729

Profit attributable to:

Owners of the parent

13,721,762

20,500,729

PROFIT FOR THE YEAR

13,721,762

20,500,729

OTHER COMPREHENSIVE INCOME

Equity difference on foreign currency

4,087,770

1,643,693

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

4,087,770

1,643,693

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

17,809,532

22,144,422

Total comprehensive income attributable to:

Owners of the parent

17,809,532

22,144,422

FIXED ASSETS

Tangible assets

9

45,047,195

36,832,204

Investments

10

-

-

45,047,195

36,832,204

CURRENT ASSETS

Stocks

11

65,260,242

49,063,867

Debtors

12

88,315,904

138,796,195

Cash at bank

10,730,824

8,526,700

164,306,970

196,386,762

CREDITORS

Amounts falling due within one year

13

177,262,613

218,936,946

NET CURRENT LIABILITIES

(12,955,643

)

(22,550,184

)

TOTAL ASSETS LESS CURRENT LIABILITIES

32,091,552

14,282,020

CAPITAL AND RESERVES

Called up share capital

15

100

100

Share premium

16

4,335,163

4,335,163

Equity difference on foreign

currency translations

16

5,827,651

1,739,881

Retained earnings

16

21,928,638

8,206,876

SHAREHOLDERS' FUNDS

32,091,552

14,282,020

The financial statements were approved by the Board of Directors and authorised for issue on 26th June 2026 and were signed on its behalf by:

Mr A J Ponting - Director

FIXED ASSETS

Tangible assets

9

1,630

22,147

Investments

10

19,237,330

19,995,465

19,238,960

20,017,612

CURRENT ASSETS

Stocks

11

6,625,014

6,182,765

Debtors

12

4,965,552

3,897,070

Cash at bank

19,445

17,741

11,610,011

10,097,576

CREDITORS

Amounts falling due within one year

13

17,265,558

16,482,020

NET CURRENT LIABILITIES

(5,655,547

)

(6,384,444

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,583,413

13,633,168

CAPITAL AND RESERVES

Called up share capital

15

100

100

Share premium

16

4,335,163

4,335,163

Retained earnings

16

9,248,150

9,297,905

SHAREHOLDERS' FUNDS

13,583,413

13,633,168

Company's loss for the financial year

(49,755

)

(342,072

)

The financial statements were approved by the Board of Directors and authorised for issue on 26th June 2026 and were signed on its behalf by:

Mr A J Ponting - Director

Equity

difference

on

Called up

foreign

share

Retained

Share

currency

Total

capital

earnings

premium

translations

equity

£

£

£

£

£

Balance at 1st October 2023

100

(12,293,853

)

4,335,163

96,188

(7,862,402

)

Changes in equity

Total comprehensive income

-

20,500,729

-

1,643,693

22,144,422

Balance at 30th September 2024

100

8,206,876

4,335,163

1,739,881

14,282,020

Changes in equity

Total comprehensive income

-

13,721,762

-

4,087,770

17,809,532

Balance at 30th September 2025

100

21,928,638

4,335,163

5,827,651

32,091,552

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1st October 2023

100

9,639,977

4,335,163

13,975,240

Changes in equity

Total comprehensive income

-

(342,072

)

-

(342,072

)

Balance at 30th September 2024

100

9,297,905

4,335,163

13,633,168

Changes in equity

Total comprehensive income

-

(49,755

)

-

(49,755

)

Balance at 30th September 2025

100

9,248,150

4,335,163

13,583,413

Cash flows from operating activities

Cash generated from operations

1

14,136,610

11,606,903

Interest paid

(3,403,796

)

(4,345,724

)

Equity difference on foreign exchange

4,087,770

1,643,693

Tax paid

(1,052,488

)

(1,899,184

)

Net cash from operating activities

13,768,096

7,005,688

Cash flows from investing activities

Purchase of tangible fixed assets

(12,975,267

)

(11,040,255

)

Sale of tangible fixed assets

168,109

205,629

Interest received

1,243,186

1,317,144

Net cash from investing activities

(11,563,972

)

(9,517,482

)

Increase/(decrease) in cash and cash equivalents

2,204,124

(2,511,794

)

Cash and cash equivalents at beginning of year

2

8,526,700

11,038,494

Cash and cash equivalents at end of year

2

10,730,824

8,526,700

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.9.25

30.9.24

£

£

Profit before taxation

14,881,140

21,530,737

Depreciation charges

4,592,167

3,843,284

Loss on disposal of fixed assets

-

188,206

Finance costs

3,403,796

4,345,724

Finance income

(1,243,186

)

(1,317,144

)

21,633,917

28,590,807

(Increase)/decrease in stocks

(16,196,375

)

21,806,448

Decrease/(increase) in trade and other debtors

50,480,291

(18,515,213

)

Decrease in trade and other creditors

(41,781,223

)

(20,275,139

)

Cash generated from operations

14,136,610

11,606,903

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th September 2025

30.9.25

1.10.24

£

£

Cash and cash equivalents

10,730,824

8,526,700

Year ended 30th September 2024

30.9.24

1.10.23

£

£

Cash and cash equivalents

8,526,700

11,038,494

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.24

Cash flow

At 30.9.25

£

£

£

Net cash

Cash at bank

8,526,700

2,204,124

10,730,824

8,526,700

2,204,124

10,730,824

Total

8,526,700

2,204,124

10,730,824