Company registration number 09209432 (England and Wales)
SIEMAG TECBERG UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
SIEMAG TECBERG UK LIMITED
COMPANY INFORMATION
Directors
Mr I Bailey
Mr R Price
Mr BG Bailey
Company number
09209432
Registered office
10 Mitchell Court
Castle Mount Way
Rugby
Warwickshire
CV23 0UY
Auditor
Cottons Accountants LLP
Chestnut Field House
Chestnut Field
Rugby
Warwickshire
United Kingdom
CV21 2PD
SIEMAG TECBERG UK LIMITED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Income statement
6
Statement of financial position
7 - 8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 28
SIEMAG TECBERG UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of engineering, design, consultancy and support activities.

Dividends

The results for the year are set out on page 6.

An interim dividend of £0.1.0775862 per share was declared on 31st October 2025 and to be paid in instalments by 31 July 2026.

The total distribution of dividends for the year ended 31 December 2025 will be £5 00,000 (2024 - £500,000).

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr I Bailey
Mr R Price
Mr BG Bailey

The auditor, Cottons Accountants LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

Each director in office at the date of approval of this annual report confirms that:

- so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

- the director has taken all the steps that he / she ought to have taken as a director in order to make himself / herself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

On behalf of the board
Mr R Price
Director
1 June 2026
SIEMAG TECBERG UK LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom 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 International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom. 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, International Accounting Standard 1 requires that directors:

- properly select and apply accounting policies;

- present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information;

- provide additional disclosures when compliance with the specific requirements in IFRSs are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity's financial position and financial performance; and

- make an assessment of the company's ability to continue as a going concern.

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.

SIEMAG TECBERG UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SIEMAG TECBERG UK LIMITED
- 3 -
Opinion

We have audited the financial statements of Siemag Tecberg UK Limited (the 'company') for the year ended 31 December 2025 which comprise the income statement, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK adopted international accounting standards.

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 loss for the year then ended;

- have been properly prepared in accordance with UK adopted international accounting standards; 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's 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 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

SIEMAG TECBERG UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SIEMAG TECBERG UK LIMITED (CONTINUED)
- 4 -
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 identifie d material misstatements in the directors' r eport.

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.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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.

Auditor's 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.

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

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 misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of factual, suspected and alleged fraud;

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

- maintaining professional scepticism throughout the audit.

SIEMAG TECBERG UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SIEMAG TECBERG UK LIMITED (CONTINUED)
- 5 -

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s member 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 member, those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.

Callum Veasey ACA (Senior Statutory Auditor)
For and on behalf of Cottons Accountants LLP, Statutory Auditor
Chartered Accountants
Chestnut Field House
Chestnut Field
Rugby
Warwickshire
CV21 2PD
United Kingdom
2 July 2026
SIEMAG TECBERG UK LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
2025
2024
Notes
£
£
Revenue
4,035,325
7,886,313
Cost of sales
(1,718,754)
(4,345,790)
Gross profit
2,316,571
3,540,523
Other operating income
39,559
12,400
Administrative expenses
(2,525,967)
(2,566,262)
Operating (loss)/profit
3
(169,837)
986,661
Investment revenues
6
-
0
1,001
Finance costs
7
(12,247)
(4,097)
(Loss)/profit before taxation
(182,084)
983,565
Income tax income/(expense)
8
38,268
(252,225)
(Loss)/profit and total comprehensive income for the year
(143,816)
731,340
SIEMAG TECBERG UK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 7 -
2025
2024
Notes
£
£
ASSETS
Non-current assets
Intangible assets
10
352,198
422,637
Property, plant and equipment
11
386,166
373,960
Deferred tax asset
18
14,585
-
0
752,949
796,597
Current assets
Inventories
12
503,060
-
Trade and other receivables
13
768,443
2,352,864
Current tax recoverable
22,009
-
0
Cash and cash equivalents
1,071,410
655,369
2,364,922
3,008,233
Total assets
3,117,871
3,804,830
EQUITY
Called up share capital
21
464,000
464,000
Retained earnings
1,076,392
1,720,208
Total equity
1,540,392
2,184,208
LIABILITIES
Non-current liabilities
Lease liabilities
17
161,000
147,310
Deferred tax liabilities
18
-
0
23,684
161,000
170,994
Current liabilities
Trade and other payables
16
1,278,657
1,299,475
Current tax liabilities
-
0
50,740
Lease liabilities
17
118,522
73,213
Provisions
19
19,300
26,200
1,416,479
1,449,628
Total liabilities
1,577,479
1,620,622
Total equity and liabilities
3,117,871
3,804,830
SIEMAG TECBERG UK LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 8 -

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

The financial statements were approved by the board of directors and authorised for issue on 1 June 2026 and are signed on its behalf by:
Mr R Price
Director
Company registration number 09209432 (England and Wales)
SIEMAG TECBERG UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 January 2024
464,000
1,488,868
1,952,868
Year ended 31 December 2024:
Profit and total comprehensive income
-
731,340
731,340
Transactions with owners:
Dividends
9
-
(500,000)
(500,000)
Balance at 31 December 2024
464,000
1,720,208
2,184,208
Year ended 31 December 2025:
Loss and total comprehensive income
-
(143,816)
(143,816)
Transactions with owners:
Dividends
9
-
(500,000)
(500,000)
Balance at 31 December 2025
464,000
1,076,392
1,540,392
SIEMAG TECBERG UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
627,579
527,819
Interest paid
(12,247)
(4,097)
Income taxes paid
(72,750)
(360,084)
Net cash inflow from operating activities
542,582
163,638
Investing activities
Purchase of property, plant and equipment
(23,020)
(60,073)
Interest received
-
0
1,001
Net cash used in investing activities
(23,020)
(59,072)
Financing activities
Payment of lease liabilities
(110,559)
(107,218)
Dividends paid
-
(500,000)
Net cash used in financing activities
(110,559)
(607,218)
Net increase/(decrease) in cash and cash equivalents
409,003
(502,652)
Cash and cash equivalents at beginning of year
655,369
1,158,022
Cash and cash equivalents at end of year
1,071,410
655,369
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

Siemag Tecberg UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Mitchell Court, Castle Mount Way, Rugby, Warwickshire, CV23 0UY. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Basis of preparation

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with the requirements of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the true company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.4
Intangible assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

- intellectual property and designs - 7 years straight line basis

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -
1.5
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short leasehold
On cost over the lease term
Leasehold improvements
33.3% on cost
Fixtures and fittings
13% to 33.3% on cost
Plant and equipment
20.0% on cost
Computers
33.3% on cost
Motor vehicles
20.0% on cost for owned assets, on cost over the lease term for ROU assets

Right-of-use assets are depreciated over the shorter of the lease term or the estimated useful life of the asset.

1.6
Impairment of tangible and intangible assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.

Inventories held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

Financial assets at fair value through profit or loss

When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Financial assets at fair value through other comprehensive income

Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -

The company has made an irrevocable election to recognize changes in fair value of investments in equity instruments through other comprehensive income, not through profit or loss. A gain or loss from fair value changes will be shown in other comprehensive income and will not be reclassified subsequently to profit or loss. Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

Impairment of financial assets

Financial assets carried at amortised cost and FVOCI are assessed for indicators of impairment at each reporting end date.

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

For trade receivables, the simplified approach permitted by IFRS 9 is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.10
Financial liabilities

The company recogni s es financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, t rade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.12
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability. A derivative is presented as a non-current asset or liability if the remaining maturity of the instrument is more than 12 months and it is not expected to be realised or settled within 12 months. Other derivatives are classified as current.

1.13
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is the tax expected to be payable or recoverable on 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, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event and it is probable that the company will be required to settle that obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.15
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 inventories or non-current 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.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases
As lessee

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

The right-of-use asset is subsequently adjusted for remeasurements of the lease liability and applies the relevant cost model, fair value model or revaluation model as set out within the accounting policies for the applicable asset class. Where the cost model is applied, the asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term, and is periodically reduced by impairment losses, if any.

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.

The lease liability is measured at amortised cost using the effective interest method. It is re assessed at each financial period end to reflect lease modifications and any changes to the factors considered at initial measurement, as set out above. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
As lessor

When the company acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the company allocates the consideration in the contract to the two elements. When the company is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately, classifying the sub-lease with reference to the right-of-use asset arising from the head lease instead of the underlying asset.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.18
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting estimates and judgements

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 considered to be relevant. Actual results may differ from these estimates.

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

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Critical judgements
Revenue recognition

Certain contracts under which the company provides services to customers involve performance obligations which are satisfied over time. On a contract-by-contract basis, management have exercised judgement in establishing which contracts meet the criteria within IFRS 15 for recognising revenue over time. Where the contracts involve the creation of asset with no alternative use to the company and the company has an enforceable right to payment for performance completed to-date, revenue has been recognised over time.

Key sources of estimation uncertainty
Intangible assets

The useful life of the intangible asset has been estimated. The estimate is based on the fact that the asset has a 7 year life before competitors catch up with the product line.

Warranty provisions

The company undertakes service contracts to which certain warranties are provided. By their nature, there is an element of uncertainty regarding the timing and extend of warranty repair work that may be required.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Critical accounting estimates and judgements
(Continued)
- 18 -
Right-of-use discount rates

When recognizing right-of-use assets and liabilities, management is required to estimate the appropriate discount rate. Lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined, or the incremental borrowing rate. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. An element of uncertainty arises in estimating the incremental borrowing rate.

Revenue recognition

When recognising revenue in respect of contracts where performance obligations are satisfied over time, management are required to make estimates of the amounts allocated to performance obligations. Management apply the "input method" of measuring the progress towards completion of the relevant contracts.

3
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging/(crediting):
£
£
Exchange losses
4,498
24,606
Depreciation of property, plant and equipment
173,336
157,816
Profit on disposal of property, plant and equipment
-
(2,216)
Amortisation of intangible assets (included within administrative expenses)
70,439
70,439
Cost of inventories recognised as an expense
633,864
3,254,516
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management
1
1
Project/Engineering
11
11
Site management
4
4
IT
1
1
Administrative
2
2
After sales service
4
4
Total
23
23
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
4
Employees
(Continued)
- 19 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,374,599
1,388,257
Social security costs
177,852
160,517
Pension costs
172,625
178,794
1,725,076
1,727,568
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
153,187
209,292
Company pension contributions to defined contribution schemes
42,451
42,000
195,638
251,292

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
n/a
114,091
Company pension contributions to defined contribution schemes
n/a
10,080

As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.

6
Investment income
2025
2024
£
£
Interest income
Financial instruments measured at amortised cost:
Other interest income on financial assets
-
0
1,001
Income above relates to assets held at amortised cost, unless stated otherwise.
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
7
Finance costs
2025
2024
£
£
Other interest payable
12,247
4,097
8
Income tax expense
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
247,096
Deferred tax
Origination and reversal of temporary differences
(38,268)
5,129
Total tax charge/(credit)
(38,268)
252,225

The charge for the year can be reconciled to the (loss)/profit per the income statement as follows:

2025
2024
£
£
(Loss)/profit before taxation
(182,084)
983,565
Expected tax (credit)/charge based on a corporation tax rate of 25.00% (2024: 25.00%)
(45,521)
245,891
Effect of expenses not deductible in determining taxable profit
187
269
Depreciation on assets not qualifying for tax allowances
7,263
7,269
Other permanent differences
(197)
-
0
Deferred tax adjustments in respect of prior years
-
0
(1,204)
Taxation (credit)/charge for the year
(38,268)
252,225
9
Dividends
2025
2024
2025
2024
Amounts recognised as distributions:
per share
per share
Total
Total
Pence
Pence
£
£
Ordinary shares
Interim dividend paid
1,077.59
538.79
500,000
500,000
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
10
Intangible assets
Intellectual property
£
Cost
At 1 January 2024
493,076
At 31 December 2024
493,076
At 31 December 2025
493,076
Amortisation and impairment
Charge for the year
70,439
At 31 December 2024
70,439
Charge for the year
70,439
At 31 December 2025
140,878
Carrying amount
At 31 December 2025
352,198
At 31 December 2024
422,637
At 31 December 2023
493,076

At 31 December 2025, the intangible asset had a carrying amount of £352,198. The remaining useful life is 5 years.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
11
Property, plant and equipment
Short leasehold
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 January 2024
301,588
94,750
28,849
38,174
45,029
106,361
614,751
Additions
176,009
8,529
17,071
25,934
8,540
55,317
291,400
Disposals
(158,449)
-
0
-
0
-
0
-
0
(27,310)
(185,759)
At 31 December 2024
319,148
103,279
45,920
64,108
53,569
134,368
720,392
Additions
71,701
-
0
17,620
872
4,528
97,857
192,578
Disposals
(108,632)
-
-
0
(17)
(952)
-
0
(109,601)
Revaluation decrease
(7,017)
-
0
-
0
-
0
-
0
-
0
(7,017)
At 31 December 2025
275,200
103,279
63,540
64,963
57,145
232,225
796,352
Accumulated depreciation and impairment
At 1 January 2024
223,505
23,129
4,387
22,940
36,398
21,270
331,629
Charge for the year
71,120
31,144
6,436
4,614
7,813
36,689
157,816
Eliminated on disposal
(137,323)
-
0
-
0
-
0
-
0
(5,690)
(143,013)
At 31 December 2024
157,302
54,273
10,823
27,554
44,211
52,269
346,432
Charge for the year
71,359
30,343
9,942
5,584
6,557
49,551
173,336
Eliminated on disposal
(108,632)
-
0
-
0
-
0
(952)
-
0
(109,584)
At 31 December 2025
120,029
84,616
20,765
33,139
49,817
101,820
410,186
Carrying amount
At 31 December 2025
155,171
18,663
42,775
31,824
7,328
130,405
386,166
At 31 December 2024
161,846
49,006
35,097
36,554
9,358
82,099
373,960
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -

Property, plant and equipment includes right-of-use assets, as follows:

Right-of-use assets
2025
2024
£
£
Net values at the year end
Property
155,171
161,846
Motor vehicles
123,791
69,778
278,962
231,624
Total additions in the year
169,558
231,327
Depreciation charge for the year
Property
71,359
71,120
Motor vehicles
43,844
30,983
115,203
102,103
12
Inventories
2025
2024
£
£
Work in progress
503,060
-
13
Trade and other receivables
2025
2024
£
£
Trade receivables
405,560
1,462,678
Other receivables
728
566
Prepayments and accrued income
362,155
889,620
768,443
2,352,864
14
Trade receivables - credit risk
Fair value of trade receivables

The directors consider that the carrying amount of trade and other receivables is approximately equal to their fair value.

No significant receivable balances are impaired at the reporting end date.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14
Trade receivables - credit risk
(Continued)
- 24 -

Allowances for expected credit losses are recognised against trade receivables based on estimated irrecoverable amounts determined by reference to past default experience. Specific counter-party risk is also considered where an analysis of the counter-party's current and future financial position indicates a change in credit risk.

In determining the recoverability of a trade receivable balance the company considers any change in the credit quality of the counter-party from the date initially recognised up to the year end date.

There are no expected credit losses in respect of financial instruments at the year end.

15
Fair value of financial liabilities

The directors consider that the carrying amounts of financial liabilities carried at amortised cost in the financial statements approximate to their fair values.

16
Trade and other payables
2025
2024
£
£
Trade payables
229,002
422,631
Accruals and deferred income
401,221
434,787
Social security and other taxation
140,549
430,890
Other payables
507,885
11,167
1,278,657
1,299,475
17
Lease liabilities
2025
2024
Net amounts due
£
£
Within one year
118,522
73,213
After more than one year
161,000
147,310
279,522
220,523
2025
2024
Maturity analysis of future lease payments
£
£
Within one year
128,327
81,558
In two to five years
167,533
149,423
Total undiscounted liabilities
295,860
230,981
Future finance charges and other adjustments
(16,338)
(10,458)
Lease liabilities in the financial statements
279,522
220,523
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17
Lease liabilities
(Continued)
- 25 -

Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date.

18
Deferred taxation
Liabilities
Assets
2025
2024
2025
2024
£
£
£
£
Deferred tax balances
-
0
23,684
14,585
-
0
Deferred tax assets are expected to be recovered after more than one year.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

ACAs
Tax losses
Retirement benefit obligations
Total
£
£
£
£
Liability at 1 January 2024
18,555
-
0
-
0
18,555
Deferred tax movements in prior year
Charge/(credit) to profit or loss
5,129
-
-
5,129
Liability at 1 January 2025
23,684
-
0
-
0
23,684
Deferred tax movements in current year
Charge/(credit) to profit or loss
(1,625)
(34,200)
(2,444)
(38,269)
Asset at 31 December 2025
22,059
(34,200)
(2,444)
(14,585)
19
Provisions for liabilities
2025
2024
£
£
Warranties and performance bonds
19,300
26,200
All provisions are expected to be settled within 12 months from the reporting date.
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
19
Provisions for liabilities
(Continued)
- 26 -
Movements on provisions:
Warranties and performance bonds
£
At 1 January 2025
26,200
Reversal of provision
(6,900)
At 31 December 2025
19,300
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
172,625
178,794

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

21
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
464,000
464,000
464,000
464,000

The company has one class of ordinary shares which carry no right to fixed income. The shares carry voting rights at one vote per share and the right to participate in a distribution of the company, whether by way of capital (including upon winding up) or by dividend. The ordinary shares are non-redeemable.

SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 27 -
22
Related party transactions

During the year the company entered into the following transactions with related parties:

During the year the company entered into the following related party transactions with its parent company, Siemag Tecberg Inc:

During the year the company made sales of £19,381 (202 4 £Nil) relating to services, of which £654 (202 4 £Nil) is included within trade and other receivables at the year end.

During the year the company purchased services of £430,174 (202 4 £242,817), of which £2,499 (202 4 £Nil) is included within trade and other payables at the year end.

During the year the company entered into the following related party transactions with other group entities, which are under common control:

During the year the company made sales of £Nil (202 4 £3,342) relating to services, of which £654 (202 4 £Nil) is included within trade and other receivables at the year end.

The company purchased services of £72,731 (202 4 £1,475,590), of which £Nil (202 4 £264,600) is included within trade and other payables at the year end.

23
Controlling party

Siemag Tecberg Inc is the immediate parent undertaking. The registered office address of Siemag Tecberg Inc is located at 2969 South Chase Avenue, Milwaukee, Wisconsin, USA.

Siemag Tecberg Group GmbH is the ultimate parent undertaking. The registered office address of Siemag Tecberg Group GmbH is located at Kaltreiche-Ring 28-32, 35708 Haiger, Germany.

The largest group into which the entity is consolidated is Siemag Tecberg Group GmbH.

24
Cash generated from operations
2025
2024
£
£
(Loss)/profit for the year before taxation
(182,084)
983,565
Adjustments for:
Finance costs
12,247
4,097
Investment income
-
0
(1,001)
Gain on disposal of property, plant and equipment
-
(2,216)
Amortisation and impairment of intangible assets
70,439
70,439
Depreciation and impairment of property, plant and equipment
173,336
157,816
(Decrease)/increase in provisions
(6,900)
11,783
Movements in working capital:
(Increase)/decrease in inventories
(503,060)
215,115
Decrease/(increase) in trade and other receivables
1,584,421
(646,004)
Decrease in trade and other payables
(520,818)
(265,776)
Cash generated from operations
627,581
527,818
SIEMAG TECBERG UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
25
Analysis of changes in net funds
1 January 2025
Cash flows
New leases
31 December 2025
£
£
£
£
Cash at bank and in hand
655,369
416,041
-
1,071,410
Lease liabilities
(220,523)
110,559
(169,558)
(279,522)
434,846
526,600
(169,558)
791,888
1 January 2024
Cash flows
New leases
31 December 2024
Prior year:
£
£
£
£
Cash at bank and in hand
1,158,022
(502,653)
-
655,369
Lease liabilities
(141,376)
107,218
(231,327)
(220,523)
1,016,646
(395,435)
(231,327)
434,846
26
Auditor's liability limitation agreement

Upon re-appointment of Cottons Accountants LLP as auditors, the company entered into a liability limitation agreement with the auditors and this was approved by resolution on 21 May 2026. Liability is limited to the lesser of 25 times the audit fee or £2 93,75 0. In accordance with section 537 of CA06, if the effect of the liability limitation agreement is to limit the auditor's liability to less than such a mount as is fair and reasonable, as determined by that section, the agreement shall have effect as if it limited the liability to such amount as is fair and reasonable, as so determined.

The agreement limits the liability owed to the company by the auditors in respect of any negligence, default or breach of duty, or breach of trust, occurring in the course of the audit of the accounts for the year ending 31 December 2025.

The agreement does not limit liability for any instance of fraud or dishonesty on behalf of the auditor or any other liability that cannot be excluded or restricted by applicable laws or regulations.

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