REGISTERED NUMBER: 01938195 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2025

for

Schmidt Groupe UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Peragine

SECRETARY:

Pramex International Ltd

REGISTERED OFFICE:

Pramex International Ltd

11 Old Jewry

London

United Kingdom

EC2R 8DU

REGISTERED NUMBER:

01938195 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

King's House

9 - 10 Haymarket

London

SW1Y 4BP

FIXED ASSETS

Tangible assets

4

193,620

158,253

CURRENT ASSETS

Debtors

5

1,402,423

1,306,408

Cash at bank

366,436

187,967

1,768,859

1,494,375

CREDITORS

Amounts falling due within one year

6

1,766,472

1,561,426

NET CURRENT ASSETS/(LIABILITIES)

2,387

(67,051

)

TOTAL ASSETS LESS CURRENT LIABILITIES

196,007

91,202

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

195,007

90,202

SHAREHOLDERS' FUNDS

196,007

91,202

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 May 2026 and were signed by:

J Peragine - Director

1.	STATUTORY INFORMATION

Schmidt Groupe UK 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

All amounts are rounded to the nearest £.

Going Concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The company is dependent upon the continued financial support of its parent company which has undertaken to financially support the company for the at least 12 months after the date of the signing of these accounts and for the foreseeable future.The company therefore continues to adopt the going concern basis in preparing its financial statements.

Jugements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are condidered to be relevant. Actuel results may differ from these estimates.

The estimates underlying assumptions are reviewed on an oingoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affect both current and future periods.

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probably that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its

estimated useful life.

Fixtures and Fittings (Head office) 10%

Fixtures and Fittings (other) 5%

Office Equipment 25%

Depreciation is provided on a straight line basis.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, prepayments, amounts owed from fellow group companies, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, accruals and taxes are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 year 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

217,797

32,499

250,296

Additions

95,837

-

95,837

Disposals

(15,555

)

-

(15,555

)

At 31 December 2025

298,079

32,499

330,578

DEPRECIATION

At 1 January 2025

67,772

24,271

92,043

Charge for year

40,207

5,227

45,434

Eliminated on disposal

(519

)

-

(519

)

At 31 December 2025

107,460

29,498

136,958

NET BOOK VALUE

At 31 December 2025

190,619

3,001

193,620

At 31 December 2024

150,025

8,228

158,253

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

213,642

515,382

Doubtful Debt

(146,555

)

(444,537

)

Amounts owed by group undertakings

1,157,194

1,170,823

Other debtors

145,428

40,357

Accrued income and prepayments

32,714

24,383

1,402,423

1,306,408

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

-

199,519

Amounts owed to group undertakings

807,771

197,774

Tax

40,802

86,149

Social security and other taxes

55,049

34,131

VAT

223,483

360,485

Other creditors

406,658

617,691

Accruals

232,709

65,677

1,766,472

1,561,426

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Philip Clark (Senior Statutory Auditor)

for and on behalf of TC Group

9.	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.

10.	ULTIMATE CONTROLLING PARTY