REGISTERED NUMBER: 03270912 (England and Wales)

SM-Cyclo UK Limited

Financial Statements for the Year Ended 31st December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Brown

K P Benzenhofer

K Mac Iver

SECRETARY:

K Diebold

REGISTERED OFFICE:

29 Bergen Way

Sutton Fields Industrial Estate

Hull

East Yorkshire

HU7 0YQ

REGISTERED NUMBER:

03270912 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

84,089

14,535

Investments

5

46

46

84,135

14,581

CURRENT ASSETS

Stocks

598,188

410,675

Debtors

6

1,205,947

1,661,603

Cash at bank and in hand

1,334,174

1,217,430

3,138,309

3,289,708

CREDITORS

Amounts falling due within one year

7

954,096

1,053,352

NET CURRENT ASSETS

2,184,213

2,236,356

TOTAL ASSETS LESS CURRENT LIABILITIES

2,268,348

2,250,937

PROVISIONS FOR LIABILITIES

18,738

848

NET ASSETS

2,249,610

2,250,089

CAPITAL AND RESERVES

Called up share capital

9

120,000

120,000

Retained earnings

2,129,610

2,130,089

SHAREHOLDERS' FUNDS

2,249,610

2,250,089

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th July 2026 and were signed on its behalf by:

K Mac Iver - Director

1.	STATUTORY INFORMATION

SM-Cyclo UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The directors, having considered the financial forecasts for 2026 and beyond, notwithstanding the parent company Sumitomo (SHI) Cyclo Drive Germany GmbH are available to provide support if and when required, have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is charged to the profit and loss account on a straight-line basis over the estimated useful lives of each part of an item of tangible fixed assets. Leased assets are depreciated over the shorter of the lease term and their useful lives. Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in pattern by which the company expects to consume an asset's future economic benefits.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost represents expenses in bringing each product to its present condition and location and includes a reasonable proportion of labour and manufacturing overheads based on a normal level of activity. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion. Provision is made of obsolete, slow moving or defected items where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2025

102,399

Additions

85,351

At 31st December 2025

187,750

DEPRECIATION

At 1st January 2025

87,864

Charge for year

15,797

At 31st December 2025

103,661

NET BOOK VALUE

At 31st December 2025

84,089

At 31st December 2024

14,535

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2025

and 31st December 2025

46

NET BOOK VALUE

At 31st December 2025

46

At 31st December 2024

46

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

915,483

1,485,222

Amounts owed by group undertakings

202,070

136,570

Other debtors

88,394

39,811

1,205,947

1,661,603

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

111,486

133,739

Amounts owed to group undertakings

466,137

499,833

Taxation and social security

232,121

296,804

Other creditors

144,352

122,976

954,096

1,053,352

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

45,045

41,850

Between one and five years

29,623

25,436

74,668

67,286

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

120,000

Ordinary

£1

120,000

120,000

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

The Report of the Auditors was unqualified.

William Cowell FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

11.	RELATED PARTY DISCLOSURES

As a wholly owned subsidiary undertaking of Sumitomo Heavy Industries Limited, the company has taken advantage of the exemption in FRS 102, Section 33 "Related party disclosures" from disclosing transactions with other members of the group headed by Sumitomo Heavy Industries Limited.

12.	ULTIMATE CONTROLLING PARTY

The directors regard Sumitomo Heavy Industries Limited, a company incorporated in Japan, as the ultimate parent company and the ultimate controlling party.

The directors regard Sumitomo (SHI) Cyclo Drive Germany GmbH, a company incorporated in Germany, as the immediate parent undertaking.

Sumitomo Heavy Industries Limited is the parent undertaking of the largest group of which the company is a member and for which group financial statements are drawn up. Copies of the financial statements are available from ThinkPark Tower, 1-1 Osaki 2-chrome, Shinagawa-ku, Tokyo 141-6025, Japan.