Company registration number 02469611 (England and Wales)
LICHTGITTER (U.K.) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
LICHTGITTER (U.K.) LIMITED
COMPANY INFORMATION
Directors
Mr A C Grice
Mr R Murray
Mr H Stengel
Secretary
Mrs M Grice
Company number
02469611
Registered office
Walsall Road
Norton Canes
Cannock
United Kingdom
WS11 9NS
Auditor
Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
United Kingdom
DY8 1LU
LICHTGITTER (U.K.) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 24
LICHTGITTER (U.K.) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

The directors were pleased with the results achieved for the year ended 31 December 2025. There has been an increase in turnover due to the new premises and higher stock holding allowing the company to gain market share.

The new site became operational in May 2025 allowing the company to trade from one site rather than two, with the efficiencies that this brings, together with the capacity for increased production, fabrication and stockholding the

business is primed for expansion opportunities across the whole range of Lichtgitter products

Principal risks and uncertainties

The company monitors costs and revenue on a constant basis to protect the financial stability of the company. The current market is stable with potential for growth.

The directors believe that they have taken all necessary and reasonable steps to protect the company. Although the company operates and trades outside of the UK, the majority of sales are within the UK and the directors do constantly review exchange rates, so any fluctuations should not have a major impact on the company's performance.

The directors do realise that events outside their control will affect the performance of the company.

Key performance indicators

The directors consider that the key financial performance indicators are turnover, gross profit margin and net profit.

2025
2024
£
£
Turnover
14,253,736
11,146,988
Gross profit
2,765,605
2,061,119
Gross profit percentage
19.40%
18.49%
Pre tax net profit
1,774,734
1,406,101
Pre tax net profit percentage
12.45%
12.61%

On behalf of the board

Mr A C Grice
Director
17 June 2026
LICHTGITTER (U.K.) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

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

Principal activities

The principal activity of the company during the year was that of the supply and fabrication of industrial grating.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £600,015. The directors do not recommend payment of a further 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 A C Grice
Mr R Murray
Mr H Stengel
Auditor

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

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.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr A C Grice
Director
17 June 2026
LICHTGITTER (U.K.) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

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). 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; and

- 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.

LICHTGITTER (U.K.) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LICHTGITTER (U.K.) LIMITED
- 4 -
Opinion

We have audited the financial statements of Lichtgitter (U.K.) Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, 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 United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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 strategic report and the directors' r eport 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.

LICHTGITTER (U.K.) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LICHTGITTER (U.K.) LIMITED (CONTINUED)
- 5 -
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 strategic report or 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.

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.

LICHTGITTER (U.K.) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LICHTGITTER (U.K.) LIMITED (CONTINUED)
- 6 -

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 and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Neil Smith FCA (Senior Statutory Auditor)
For and on behalf of Folkes Worton LLP, Statutory Auditor
Chartered Accountants
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU
15 July 2026
LICHTGITTER (U.K.) LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
14,253,736
11,146,988
Cost of sales
(11,488,131)
(9,085,869)
Gross profit
2,765,605
2,061,119
Administrative expenses
(1,059,247)
(774,727)
Other operating income
44,947
2,837
Operating profit
4
1,751,305
1,289,229
Interest receivable and similar income
8
23,429
127,962
Interest payable and similar expenses
9
-
0
(11,090)
Profit before taxation
1,774,734
1,406,101
Tax on profit
10
(410,532)
(351,667)
Profit for the financial year
1,364,202
1,054,434

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LICHTGITTER (U.K.) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
£
£
Profit for the year
1,364,202
1,054,434
Other comprehensive income
-
-
Total comprehensive income for the year
1,364,202
1,054,434
LICHTGITTER (U.K.) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
5,396,375
4,911,311
Current assets
Stocks
13
1,477,520
1,200,427
Debtors
15
3,057,106
3,347,162
Investments
16
77
77
Cash at bank and in hand
1,781,465
1,961,310
6,316,168
6,508,976
Creditors: amounts falling due within one year
17
(2,211,963)
(2,854,105)
Net current assets
4,104,205
3,654,871
Total assets less current liabilities
9,500,580
8,566,182
Provisions for liabilities
Deferred tax liability
18
233,008
62,797
(233,008)
(62,797)
Net assets
9,267,572
8,503,385
Capital and reserves
Called up share capital
20
52,500
52,500
Revaluation reserve
230,939
230,939
Own shares
17,500
17,500
Profit and loss reserves
8,966,633
8,202,446
Total equity
9,267,572
8,503,385

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 17 June 2026 and are signed on its behalf by:
Mr A C Grice
Director
Company registration number 02469611 (England and Wales)
LICHTGITTER (U.K.) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
Share capital
Revaluation reserve
Own shares
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2024
52,500
232,957
17,500
7,246,009
7,548,966
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
1,054,434
1,054,434
Dividends
11
-
-
-
(100,015)
(100,015)
Transfers
-
(2,018)
-
2,018
-
Balance at 31 December 2024
52,500
230,939
17,500
8,202,446
8,503,385
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
-
1,364,202
1,364,202
Dividends
11
-
-
-
(600,015)
(600,015)
Balance at 31 December 2025
52,500
230,939
17,500
8,966,633
9,267,572
LICHTGITTER (U.K.) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
1,545,666
1,321,526
Interest paid
-
0
(11,090)
Income taxes paid
(631,501)
(413,180)
Net cash inflow from operating activities
914,165
897,256
Investing activities
Purchase of tangible fixed assets
(974,703)
(3,963,269)
Proceeds from disposal of tangible fixed assets
318,910
11,900
Proceeds from disposal of property
138,590
-
0
Directors loan account advances
(221)
6,000
Interest received
23,429
127,962
Net cash used in investing activities
(493,995)
(3,817,407)
Financing activities
Dividends paid
(600,015)
(100,015)
Net cash used in financing activities
(600,015)
(100,015)
Net decrease in cash and cash equivalents
(179,845)
(3,020,166)
Cash and cash equivalents at beginning of year
1,961,310
4,981,476
Cash and cash equivalents at end of year
1,781,465
1,961,310
LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
1
Accounting policies
Company information

Lichtgitter (U.K.) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Walsall Road, Norton Canes, Cannock, United Kingdom, WS11 9NS.

1.1
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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the 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
Turnover

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.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets 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:

Land and buildings Freehold
1% straight line (see note below)
Plant and machinery
15% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
25% straight line

Freehold land is not depreciated.

LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

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.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. 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.

1.6
Stocks

Stocks 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 stocks to their present location and condition.

Stocks 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
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.

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.

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.

LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
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 paymen ts 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. A m ounts 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

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

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 th r ough 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.

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 profit and loss account 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.

LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
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 profit and loss account, 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
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 stock or fixed assets.

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

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

1.12
Retirement benefits

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

1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
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
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.

LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 17 -
Key sources of estimation uncertainty

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

Stock provision

A provision is made by management to reflect obsolete and slow moving stock. This estimate is made with reference to the ageing profile of stock and knowledge of the industry.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Fabrication
14,253,736
11,146,988
2025
2024
£
£
Turnover analysed by geographical market
UK
14,253,736
11,124,722
Europe
-
22,266
14,253,736
11,146,988
2025
2024
£
£
Other revenue
Interest income
23,429
127,962
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
178,229
97,829
Profit on disposal of tangible fixed assets
(7,500)
(11,900)
Profit on disposal of investment property
(138,590)
-
0
Operating lease charges
32,424
18,616
LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
5
Employees

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

2025
2024
Number
Number
30
28

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,373,800
1,262,296
Social security costs
167,157
151,303
Pension costs
36,544
35,628
1,577,501
1,449,227
6
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
10,000
9,000

7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
165,284
155,838
Company pension contributions to defined contribution schemes
8,000
8,000
173,284
163,838
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
23,429
122,712
Other interest income
-
0
5,250
Total income
23,429
127,962
LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Interest receivable and similar income
(Continued)
- 19 -
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
23,429
122,712
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
-
0
11,090
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
240,321
347,357
Deferred tax
Origination and reversal of timing differences
170,211
4,310
Total tax charge
410,532
351,667

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:

2025
2024
£
£
Profit before taxation
1,774,734
1,406,101
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
443,684
351,525
Tax effect of expenses that are not deductible in determining taxable profit
2,171
1,048
Tax effect of income not taxable in determining taxable profit
(36,523)
(2,975)
Depreciation on assets not qualifying for tax allowances
1,200
2,069
Taxation charge for the year
410,532
351,667
11
Dividends
2025
2024
£
£
Final paid
600,015
100,015
LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
12
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 January 2025
4,728,957
815,483
200,234
192,999
5,937,673
Additions
92,787
689,594
159,327
32,995
974,703
Disposals
(347,618)
-
0
-
0
-
0
(347,618)
At 31 December 2025
4,474,126
1,505,077
359,561
225,994
6,564,758
Depreciation and impairment
At 1 January 2025
79,416
636,071
164,193
146,682
1,026,362
Depreciation charged in the year
4,801
101,899
40,293
31,236
178,229
Eliminated in respect of disposals
(36,208)
-
0
-
0
-
0
(36,208)
At 31 December 2025
48,009
737,970
204,486
177,918
1,168,383
Carrying amount
At 31 December 2025
4,426,117
767,107
155,075
48,076
5,396,375
At 31 December 2024
4,649,541
179,412
36,041
46,317
4,911,311

The company’s freehold land and buildings are carried using the cost model. Upon transition to FRS 102, the directors elected to use the most recent open market valuation from 2015 as its deemed cost.

If land and buildings were measured using historical cost, the carrying amounts would have been approximately £4,197,196(2024 - £4,418,891), being cost £4,272,470(2024 - £4,527,301) and depreciation £75,274(2024 - £108,410).

13
Stocks
2025
2024
£
£
Raw materials and consumables
1,030,393
806,639
Work in progress
447,127
393,788
1,477,520
1,200,427
14
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
2,762,772
2,803,629
Equity instruments measured at cost less impairment
77
77
Carrying amount of financial liabilities
Measured at amortised cost
1,856,309
2,584,975
LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14
Financial instruments
(Continued)
- 21 -

Financial assets that are debt instruments measured at amortised cost comprise cash at bank and in hand, trade debtors, other debtors and accrued income.

Financial liabilities measured at amortised cost comprise bank loans, invoice discounting, trade creditors, obligations under finance leases, taxation and social security, other creditors and accruals.

15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,761,820
2,802,979
Corporation tax recoverable
193,884
-
0
Other debtors
952
463,228
Prepayments and accrued income
100,450
80,955
3,057,106
3,347,162
16
Current asset investments
2025
2024
£
£
Listed investments
77
77
17
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
464,356
495,055
Amounts owed to group undertakings
1,201,826
1,843,503
Corporation tax
-
0
197,296
Other taxation and social security
355,654
71,834
Other creditors
7,811
64,443
Accruals and deferred income
182,316
181,974
2,211,963
2,854,105
LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
18
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
233,773
63,579
Retirement benefit obligations
(765)
(782)
233,008
62,797
2025
Movements in the year:
£
Liability at 1 January 2025
62,797
Charge to profit or loss
170,211
Liability at 31 December 2025
233,008
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
36,544
35,628

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.

20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' of £1 each
50,000
50,000
50,000
50,000
Ordinary 'B' of £1 each
2,500
2,500
2,500
2,500
52,500
52,500
52,500
52,500
21
Financial commitments, guarantees and contingent liabilities

Contractual commitments for the acquisition of tangible fixed assets contracted for but not provided in the financial statements amounted to £255,426 (202 4 – £1,023,000 )

LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
22
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
173,284
163,838
Transactions with related parties

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

Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Lichtgitter GmbH
4,945
22,266
7,516,187
6,062,536
Lichtgitter Blechprofilroste
-
-
294,342
-
Lichtgitter GFK GmbH
-
-
8,237
-

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Lichtgitter GmbH
1,140,181
1,812,286
Lichtgitter Blechprofilroste
59,395
31,217
Lichtgitter GFK GmbH
2,250
-
Other information

The above balances owed to related parties relate to trading activities under normal commercial terms.

23
Ultimate controlling party

The ultimate parent company is Lichtgitter GmbH, a company incorporated in Germany.

LICHTGITTER (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
24
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,364,202
1,054,434
Adjustments for:
Taxation charged
410,532
351,667
Finance costs
-
0
11,090
Investment income
(23,429)
(127,962)
Gain on disposal of tangible fixed assets
(7,500)
(11,900)
Gain on disposal of investment property
(138,590)
-
0
Depreciation and impairment of tangible fixed assets
178,229
97,829
Movements in working capital:
Increase in stocks
(277,093)
(453,353)
Decrease/(increase) in debtors
484,161
(115,920)
(Decrease)/increase in creditors
(444,846)
515,641
Cash generated from operations
1,545,666
1,321,526
25
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
1,961,310
(179,845)
1,781,465
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