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REGISTERED NUMBER: 01953121 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

METAL WORK PNEUMATIC UK LTD

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

CONTENTS OF THE FINANCIAL STATEMENTS

For The Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| METAL WORK PNEUMATIC UK LTD |

COMPANY INFORMATION

For The Year Ended 31 December 2025

| DIRECTORS: | Mr D Marconi

| V Pellenghi

| A Smith

| REGISTERED OFFICE: | Featherstone House

| Featherstone Road

| Wolverton Mill South

| Milton Keynes

| Buckinghamshire

| MK12 5TH

| REGISTERED NUMBER: | 01953121 (England and Wales)

| AUDITORS: | TC Group, Statutory Auditor

| 1 Rushmills

| Bedford Road

| Northampton

| Northamptonshire

| NN4 7YB

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

BALANCE SHEET

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 4,434,517 |  | 4,486,370 |  |

CURRENT ASSETS

Stocks | 5 | 1,207,162 |  | 1,135,836 |  |

Debtors | 6 | 1,448,650 |  | 1,712,272 |  |

Cash at bank | 91,227 |  | 64,903 |  |

2,747,039 |  | 2,913,011 |  |

CREDITORS

Amounts falling due within one year | 7 | 2,730,472 |  | 2,909,110 |  |

NET CURRENT ASSETS | 16,567 |  | 3,901 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,451,084 |  | 4,490,271 |  |

PROVISIONS FOR LIABILITIES | 10 | 148,447 |  | 145,381 |  |

NET ASSETS | 4,302,637 |  | 4,344,890 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 60,000 |  | 60,000 |  |

Capital redemption reserve | 12 | 30,631 |  | 30,631 |  |

Other reserves | 12 | 2,300,000 |  | 2,300,000 |  |

Retained earnings | 12 | 1,912,006 |  | 1,954,259 |  |

SHAREHOLDERS' FUNDS | 4,302,637 |  | 4,344,890 |  |

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2026 and were signed on its behalf by:

A Smith - Director

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

NOTES TO THE FINANCIAL STATEMENTS

For The Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Metal Work Pneumatic UK Ltd 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.

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.

| The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest pound.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Freehold buildings |  | 2% on cost |  |

| Plant and machinery |  | 15% on cost |  |

| Tangible fixed assets held under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion, and other costs incurred in bringing stock to its present location and condition. Cost is calculated on an average cost basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

| Taxation

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

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Going concern

| As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

| 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.

| Leases

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 23 (2024 - 24 ) .

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 December 2025

4. | TANGIBLE FIXED ASSETS

| Freehold |  | Plant and |

| property |  | machinery |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 4,494,470 |  | 207,378 |  | 4,701,848 |  |

| Additions | 46,917 |  | 19,267 |  | 66,184 |  |

| Disposals | - |  | (5,034 | ) | (5,034 | ) |

| At 31 December 2025 | 4,541,387 |  | 221,611 |  | 4,762,998 |  |

| DEPRECIATION

| At 1 January 2025 | 90,739 |  | 124,739 |  | 215,478 |  |

| Charge for year | 86,409 |  | 31,086 |  | 117,495 |  |

| Eliminated on disposal | - |  | (4,492 | ) | (4,492 | ) |

| At 31 December 2025 | 177,148 |  | 151,333 |  | 328,481 |  |

| NET BOOK VALUE

| At 31 December 2025 | 4,364,239 |  | 70,278 |  | 4,434,517 |  |

| At 31 December 2024 | 4,403,731 |  | 82,639 |  | 4,486,370 |  |

| Included in land and buildings is land at a cost of £318,482 (2024: £318,482) which is not depreciated.

5. | STOCKS

2025 | 2024 |

£ | £ |

| Finished goods | 1,207,162 |  | 1,135,836 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 1,413,235 |  | 1,672,695 |  |

| Other debtors | 35,415 |  | 39,577 |  |

1,448,650 |  | 1,712,272 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Invoice discounting | 868,967 |  | 1,129,247 |  |

| Trade creditors | 76,939 |  | 43,911 |  |

| Amounts owed to group undertakings | 1,433,495 |  | 1,359,996 |  |

| Social security and other taxes | 285,979 |  | 312,431 |  |

| Other creditors | 65,092 |  | 63,525 |  |

2,730,472 |  | 2,909,110 |  |

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 December 2025

8. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 60,456 |  | 77,313 |  |

| Between one and five years | 67,876 |  | 101,769 |  |

128,332 |  | 179,082 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Invoice discounting facility | 868,967 |  | 1,129,247 |  |

| At the balance sheet date, the company operated an invoice discounting facility with RBS Invoice Finance Limited. The facility provides funding against eligible receivables, and the outstanding balance under this arrangement as at 31 December 2025 was £868,967 (2024: £1,129,247).

| The charge relating to this facility is registered at Companies House under Part 25 of the Companies Act 2006.

10. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 148,447 |  | 145,381 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 145,381 |  |

| Provided during year | 3,066 |  |

| Balance at 31 December 2025 | 148,447 |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 60,000 | Ordinary | 1 | 60,000 |  | 60,000 |  |

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 December 2025

12. | RESERVES

| Capital |

| Retained |  | redemption |  | Other |

| earnings |  | reserve |  | reserves |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 1,954,259 |  | 30,631 |  | 2,300,000 |  | 4,284,890 |  |

| Deficit for the year | (42,253 | ) | (42,253 | ) |

| At 31 December 2025 | 1,912,006 |  | 30,631 |  | 2,300,000 |  | 4,242,637 |  |

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

| The Report of the Auditors was unqualified.

| Antonia Aldridge-Brown FCCA (Senior Statutory Auditor)

| for and on behalf of TC Group, Statutory Auditor

14. | PENSION COMMITMENTS

| The company makes contributions to defined contribution pension schemes for all employees. Liability is limited to the premiums paid which are charged against profits in the year of payment. Funds are held separately from the company. Contributions paid for the year ending 31 December 2025 were £45,173 (2024: £46,770). There were no outstanding contributions at the year end (2024: £nil) that had not been paid over to the scheme.

METAL WORK PNEUMATIC UK LTD (REGISTERED NUMBER: 01953121) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 December 2025

15. | RELATED PARTY DISCLOSURES

| During the year, the company made sales amounting to £1,011 (2024: £2,325) to Metal Work Danmark A/S and purchases amounting to £3,652 (2024: £2,041). At 31 December 2025 the outstanding balance owed by Metal Work Danmark A/S was £165 (2024 balance owed to Metal Work Danmark A/S was £21).

| During the year, the company made sales amounting to £17,075 (2024: £5,360) to Metal Work SPA and purchases amounting to £3,494,642 (2024: £3,789,597). At 31 December 2025 the outstanding balance owed to Metal Work SPA was £1,431,866 (2024: £1,343,017).

| During the year, the company made sales amounting to £nil (2024: £nil) to Metal Work Service S.R.L. and purchases amounting to £34,506 (2024: £23,296). At 31 December 2025 the outstanding balance owed to Metal Work Service S.R.L. was £2,507 (2024: £nil).

| During the year, the company made sales amounting to £nil (2024: £69) to Metal Work Sverige AB and purchases amounting to £nil (2024: £234). At 31 December 2025 the outstanding balance owed to Metal Work Sverige AB was £nil (2024: £234).

| During the year, the company made sales amounting to £nil (2024: £nil) to Alfa Meccanica S.r.l and purchases amounting to £3,199 (2024: £1,210). At 31 December 2025 the outstanding balance owed to Alfa Meccanica S.r.l was £2,142 (2024: £nil).

| During the year, the company made sales amounting to £nil (2024: £nil) to Eurofit S.r.l and purchases amounting to £3,371 (2024: £4,627). At 31 December 2025 the outstanding balance owed to Eurofit S.r.l. was £nil (2024: £623).

| During the year, the company made sales amounting to £1,015 (2024: £750) to Metal Work Pneumatic USA, Inc. and purchases amounting to £813 (2024: £nil). At 31 December 2025 the outstanding balance owed by Metal Work Pneumatic USA, Inc. was £192 (2024: £750).

| During the year, the company made sales amounting to £243 (2024: £209) to Metal Work Deutschland GmbH and purchases amounting to £nil (2024: £nil). At 31 December 2025 the outstanding balance owed by Metal Work Deutschland GmbH was £nil (2024: £nil).

| During the year, the company made sales amounting to £nil (2024: £nil) to Metal Work Polska Sp. z o.o. and purchases amounting to £5 (2024: £nil). At 31 December 2025 the outstanding balance owed to Metal Work Polska Sp. z o.o. was £nil (2024: £nil).

| During the year, the company made sales amounting to £nil (2024: £nil) to AR Vacuum Technology S.L. and purchases amounting to £19,168 (2024: £nil). At 31 December 2025 the outstanding balance owed by AR Vacuum Technology S.L. was £2,662 (2024: £nil).

| During the year, the company made sales amounting to £109 (2024: £nil) to Metal Work Nederland B.V. and purchases amounting to £nil (2024: £nil). At 31 December 2025 the outstanding balance owed by Metal Work Nederland B.V. was £nil (2024: £nil).

16. | ULTIMATE CONTROLLING PARTY

| Metal Work Pneumatic UK Limited is included in the consolidated financial statements of its parent company, Metal Work SpA, whose address is: Via Segni 5/7/9 25062 Concesio (BS), Italy.

| The ultimate controlling party of Metal Work SpA is Raffaella Sarro, through majority control of the Vanda and Gino Bonatti Trust.