Company registration number 06713680 (England and Wales)
ROBERT HEATH GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
ROBERT HEATH GROUP LIMITED
COMPANY INFORMATION
Directors
Mr K Ellmore
Mr H van den Berg
Mr B van Hauwermeiren
Mr M Dyer
M T Miki
Mr A Dimou
(Appointed 1 August 2025)
Company number
06713680
Registered office
Heath House
264 Burlington Road
New Malden
Surrey
United Kingdom
KT3 4NN
Auditor
Deloitte LLP
1 Station Square
Cambridge
United Kingdom
CB1 2GA
Accountants
Ward Williams Limited
9 Crossways
London Road
Sunninghill
Berkshire
SL5 0PY
Bankers
Barclays
Leicester
United Kingdom
LE87 2BB
ROBERT HEATH GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Notes to the financial statements
13 - 21
ROBERT HEATH GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

The directors present the strategic report for the year ended 31 March 2026.

Principal activities

The principal activity of the company is a holding company.

The principal activity of the company’s principal trading subsidiary is the service, maintenance and installation of domestic and commercial heating and hot water systems within the affordable housing sector. In addition, the group develops software applications specific for the building maintenance sector.

Fair review of the business

Operating loss for the company for the financial year to 31 March 2026 was £20,574 (2025: £19,465).

Profit before tax was £13,916 (2025: £6,756).

The increase in taxable profits is attributable to interest received on group pooling of finances.

The net assets position at the balance sheet date was £6,261,535 (2025: £6,251,096) with movement being profit for the period.

Principal risks and uncertainties

The principal risks and uncertainties facing the company are deemed to be managing the risks of its main subsidiary company. These risks are continually monitored by the company.

From the company's perspective the following risks are considered:

Market risk

This risk is not deemed to be applicable. The company is a holding company and holds investments operating in different markets.

Credit risk

The company has no external customers and therefore this risk is not deemed applicable.

Liquidity risk

The company is an intermediate holding company and bears no head office operating costs nor third party debt liabilities so it is not exposed to liquidity risk arising from reliance on dividend inflows from its subsidiaries to meet these costs. However, liquidity risk is generally managed through group cash pooling arrangements which are monitored by management.

Key Performance Indicators

Due to the nature of this entity as a holding company, the directors do not consider there to be any key performance indicators.

ROBERT HEATH GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
Promoting the success of the company

The directors of the company must act in accordance with a set of general duties. These duties are detailed in section 172 of the Companies Act 2006, which is summarised below.

A director of a company must act in a way they consider in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole, and in doing so, have regard amongst other matters to

- the likely consequences of any decision in the long term,

- the interests of the company's employees,

- the need to foster the company's business relationships with suppliers, customers and others,

- the impact of the company's operations on the community and the environment,

- the desirability of the company maintaining a reputation for high standards of business conduct, and

- the need to act fairly as between members of the company.

The directors fulfil their duties through a governance framework that delegates day-to-day decision-making to employees of the subsidiary companies.

Overview of how the board performs its duties

Likely consequences of any decisions in the long term

Strategy is designed to have a long-term beneficial impact on the company and the group. Strategy is geared towards ensuring the main trading subsidiary's success in the delivery of the most efficient and safe solutions to its customers for their heating, ventilation and climate control needs.

The interest of employees

Whilst the company has no direct employees, the directors value involvement of the employees in the group and have continued to keep them informed on matters affecting them as employees and factors affecting the performance of the group. This is achieved through formal and informal meetings. The health and safety and well-being of employees in the group is at the core of the company's decision-making.

Business relationships with customers, suppliers and others

Directors understand the need to foster the company’s business relationships with suppliers, customers and others and are mindful of the effect of that regard on the principal decisions taken by the company. The company commits to relationships based on trust and openness with all customers, colleagues business, partners and communities.

Community and the environment

The company is aware of its responsibility to protect the environment and its policies and practices strive to keep environmental sustainability high. The group is committed to reducing carbon gas emissions, improving energy efficiency and making use of sustainable energy sources. Several initiatives have been undertaken by the main trading company to reduce emissions and improve efficiencies.

Maintaining a reputation for high standards of business conduct

The company aims to maintain high standards within the group by directing a group strategy that aims to anticipate the future needs of customers. Through its subsidiary companies, it is committed to building growth through the initiative and excellence of their employees.

The need to act fairly as between members of the company

The board is committed to acting fairly between members of the group and actively engages with shareholders and encourages feedback as part of this engagement process.

ROBERT HEATH GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -

Approved by the Board and signed on its behalf by:

Mr H van den Berg
Director
3 July 2026
ROBERT HEATH GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -

The directors present their annual report and financial statements for the year ended 31 March 2026.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid (2025: nil). The directors do not recommend payment of a final dividend.

Directors

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

Mr M Heath
(Resigned 1 August 2025)
Mr K Ellmore
Mr H van den Berg
Mr B van Hauwermeiren
Mr M Dyer
M T Miki
Mr A Dimou
(Appointed 1 August 2025)

Going concern

The directors have carried out a review of the company's expected performance in conjunction with budgets and cash flow requirements of the business to assess going concern. This review happens regularly throughout the year by the directors to assess business performance.

The principal activity of the company is to act as an intermediate holding company for subsidiary entities Robert Heath Heating Limited and Ionize Limited, and the directors expect this to continue for the foreseeable future. Further, the directors believe there will be sufficient cash reserves to enable the company to meet its obligations as they fall due, for a period not less than 12 months from approval of these financial statements. The company has access to a group cash pooling arrangement with Daikin Europe Coordination Center N.V, as disclosed in Note 10, and can draw down amounts from this arrangement without restriction and on demand if required for operational needs. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Financial instruments

The discussion of financial risk management objectives and policies has been promoted to the Strategic report within the 'Principal risks and uncertainties' section and forms part of this report by cross reference.

Business relationships

The company's approach to stakeholder engagement is set out in the Strategic report in the "Business relationships with customers, suppliers and others" section.

Post reporting date events

There have been no significant post balance sheet events.

Future developments

At present, the company has not outlined any specific future development plans and will continue operating within the Daikin group, building on the achievements of recent years.

ROBERT HEATH GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
Auditor

Deloitte LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Energy and carbon report

As the company has not consumed more than 40,000 kWh of energy 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 disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all 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.

Approved by the Board and signed on its behalf by:
Mr H van den Berg
Director
3 July 2026
Heath House
264 Burlington Road
New Malden
Surrey
United Kingdom
KT3 4NN
ROBERT HEATH GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -

The directors are responsible for preparing the annual report 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, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"). 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, 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 UK 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 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.

ROBERT HEATH GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROBERT HEATH GROUP LIMITED
- 7 -
Report on the audit of the financial statements
Opinion

In our opinion the financial statements of Robert Heath Group Limited (the ‘company’):

- give a true and fair view of the state of the company’s affairs as at 31 March 2026 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements which comprise:

- the statement of comprehensive income;

- the balance sheet;

- the statement of changes in equity; and

- the related notes 1 to 17.

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).

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 Financial Reporting Council’s (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.

ROBERT HEATH GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROBERT HEATH GROUP LIMITED (CONTINUED)
- 8 -
Responsibilities of directors

As explained more fully in the directors’ responsibilities statement, 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.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

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

We considered the nature of the company’s industry and its control environment, and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management and the directors about their own identification and assessment of the risks of irregularities, including those that are specific to the company’s business sector.

We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that:

- had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, UK GAAP and tax legislation; and

- d id not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. This includes General Data Protection Regulation (GDPR).

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

- reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- enquiring of management and in-house legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and

- reading minutes of meetings of those charged with governance.

ROBERT HEATH GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROBERT HEATH GROUP LIMITED (CONTINUED)
- 9 -

Report on other legal and regulatory requirements

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 strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the strategic report or the directors’ report.

Matters on which we are required to report by exception

Under the Companies Act 2006 we are required to report in respect of the following matters 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.

We have nothing to report in respect of these matters.

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 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Tom Gooda (Senior Statutory auditor)
For and on behalf of Deloitte LLP
Statutory Auditor
Cambridge, United Kingdom
3 July 2026
ROBERT HEATH GROUP LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
- 10 -
Year ended
Period ended
31 March
31 March
2026
2025
Notes
£
£
Administrative expenses
(20,574)
(19,465)
Interest receivable and similar income
6
34,490
26,221
Profit before taxation
13,916
6,756
Taxation
7
(3,477)
(1,689)
Profit for the financial period
10,439
5,067
Total comprehensive income for the year
10,439
5,067

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

ROBERT HEATH GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 11 -
2026
2025
Notes
£
£
£
£
Fixed assets
Investments
8
5,169,243
5,169,243
Current assets
Debtors
10
1,096,834
1,094,889
Cash at bank and in hand
16,196
5,690
1,113,030
1,100,579
Creditors: amounts falling due within one year
11
(20,738)
(18,726)
Net current assets
1,092,292
1,081,853
Total assets less current liabilities
6,261,535
6,251,096
Net assets
6,261,535
6,251,096
Capital and reserves
Called up share capital
12
1,200
1,200
Share premium account
13
4,999,800
4,999,800
Profit and loss reserves
14
1,260,535
1,250,096
Total equity
6,261,535
6,251,096
The financial statements were approved by the board of directors and authorised for issue on 3 July 2026 and are signed on its behalf by:
Mr H van den Berg
Director
Company registration number 06713680 (England and Wales)
ROBERT HEATH GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
Called up share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 July 2024
1,200
4,999,800
1,245,029
6,246,029
Period ended 31 March 2025:
Profit and total comprehensive income
-
-
5,067
5,067
Balance at 31 March 2025
1,200
4,999,800
1,250,096
6,251,096
Year ended 31 March 2026:
Profit and total comprehensive income
-
-
10,439
10,439
Balance at 31 March 2026
1,200
4,999,800
1,260,535
6,261,535
ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 13 -
1
Accounting policies
Company information

Robert Heath Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Heath House, 264 Burlington Road, New Malden, Surrey, United Kingdom, KT3 4NN. The company's principal activity is stated in the Strategic report on page 1.

1.1
Reporting period

These financial statements cover the 12 month period ended 31 March 2026. The company's financial reporting date is now aligned with other members of the Daikin group. The comparatives represent the previous 9 month period ended 31 March 2025 and are not directly comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel;

- Section 29 'Income Tax': Deferred tax arising from Pillar Two legislation.

The entity is a parent company exempt from the requirement to prepare consolidated financial statements under the Companies Act s400.

The financial statements of the company are consolidated in the financial statements of Daikin Europe N.V., a company registered in Belguim. These consolidated financial statements are available from its registered office at Zandvoordestraat 300, B-8400 Oostende, Belgium.

ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 14 -
1.3
Going concern

The directors have carried out a review of the company's expected performance in conjunction with budgets and cash flow requirements of the business to assess going concern. This review happens regularly throughout the year by the directors to assess business performance. true

The principal activity of the company is to act as an intermediate holding company for subsidiary entities Robert Heath Heating Limited and Ionize Limited, and the directors expect this to continue for the foreseeable future. Further, the directors believe there will be sufficient cash reserves to enable the company to meet its obligations as they fall due, for a period not less than 12 months from approval of these financial statements. The company has access to a group cash pooling arrangement with Daikin Europe Coordination Center N.V, as disclosed in Note 10, and can draw down amounts from this arrangement without restriction and on demand if required for operational needs. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Other income
Other operating income consisting of rental recharges is recognised on a straight line basis by reference to any existing lease terms.
1.5
Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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.

ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 15 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 and 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 16 -
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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

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

1.10
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 statement of comprehensive income because it excludes items of income or expense that are taxable or deductible in other periods 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.

ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 17 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing 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 statement of comprehensive income, 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.

1.11
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

1.12
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 judgements 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 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical accounting judgements

In the process of applying the entity’s accounting policies, no critical judgements have been made that are considered to have a significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty

There are no key assumptions concerning the future, or other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 18 -
3
Auditor's remuneration
Year
Period
ended
ended
31 March
31 March
2026
2025
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
16,044
15,424

No fees were paid or payable to the statutory auditor in respect of non-audit services (2025: £nil). The auditor's remuneration relates solely to statutory audit services provided for the period.

4
Employees

There were no employees during the year, nor during the previous period.

5
Directors' remuneration

During the period the directors received no emoluments in respect of services to the company (2025: £nil).

6
Interest receivable and similar income
Year
Period
ended
ended
31 March
31 March
2026
2025
£
£
Interest income
Interest receivable from group companies
33,358
26,221
Other interest income
1,132
-
0
Total income
34,490
26,221

Other interest income relates to interest received in respect of a corporation tax repayment.

7
Taxation
Year
Period
ended
ended
31 March
31 March
2026
2025
£
£
Current tax
UK corporation tax on profits for the current year
3,479
1,689
Adjustments in respect of prior periods
(2)
-
0
Total tax
3,477
1,689
ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
7
Taxation
(Continued)
- 19 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

Year
Period
ended
ended
31 March
31 March
2026
2025
£
£
Profit before taxation
13,916
6,756
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2025: 25.00%)
3,479
1,689
Under/(over) provided in prior years
(2)
-
0
Taxation charge for the period
3,477
1,689
Factors that may affect future tax charges
OECD Pillar Two model rules
The company is within the scope of the OECD Pillar Two model rules. The company applies the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in amendments to FRS102. The company does not anticipate recording material top-up taxes associated with Pillar Two in the near future.
8
Fixed asset investments
2026
2025
Notes
£
£
Investments in subsidiaries
9
5,169,243
5,169,243

The investments in subsidiaries are all stated at cost less provision for impairment.

ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 20 -
9
Subsidiaries

Details of the company's subsidiaries at 31 March 2026 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Robert Heath Heating Limited
Heath House, 264 Burlington Road, New Malden, Surrey, KT3 4NN, United Kingdom
Heating services and installation
Ordinary
100.00
Ionize Limited
10B Cefn Llan Science Park, Aberystwyth, Ceredigion, SY23 3AH, United Kingdom
IT consultancy services
Ordinary
100.00
10
Debtors
2026
2025
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
211,271
Amounts owed by group undertakings
1,096,309
883,090
Prepayments and accrued income
525
528
1,096,834
1,094,889

Amounts owed by group undertakings comprise £1,096,309 (2025: £883,090) relating to a group cash pooling arrangement which is repayable on demand and accumulates interest at GBP SONIA less intercompany margin calculated by Daikin Europe Coordination Center N.V, a fellow group undertaking.

11
Creditors: amounts falling due within one year
2026
2025
£
£
Corporation tax
1,479
-
0
Accruals and deferred income
19,259
18,726
20,738
18,726

12
Share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
Ordinary A shares of £1 each
200
200
200
200
1,200
1,200
1,200
1,200

The company has two classes of Ordinary shares (Ordinary A and Ordinary shares) which carry no right to fixed income.

ROBERT HEATH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 21 -
13
Share premium account
2026
2025
£
£
At the beginning and end of the year
4,999,800
4,999,800
14
Profit and loss reserves
31 March
31 March
2026
2025
£
£
At the beginning of the period
1,250,096
1,245,029
Profit for the period
10,439
5,067
At the end of the period
1,260,535
1,250,096
15
Events after the reporting date

There have been no significant events after the balance sheet date.

16
Related party transactions

The company has taken advantage of the exemption conferred by FRS102 section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared.

17
Ultimate controlling party

The immediate parent company is Daikin Airconditioning UK Limited, company no. 04616794, registered in England and Wales.

The ultimate parent undertaking and controlling party is Daikin Industries Limited.

The company's results are consolidated into group accounts prepared by Daikin Europe N.V., a company registered in Belgium. This is the parent undertaking of the smallest group to consolidate these financial statements. Copies of these group financial statements are available from their registered office address at Zandvoordestraat 300, B-8400 Oostende, Belgium.

The ultimate parent undertaking and controlling party is Daikin Industries Limited, a company registered in Japan. Daikin Industries Limited is the parent undertaking of the largest group to consolidate these financial statements. Copies of these group financial statements are available from their registered office address at Umeda Center Bldg., 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka. 530-8323, Japan.

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