Company No: 02723476 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Mr I Zivan

SECRETARY

Mrs V Zivan

REGISTERED OFFICE	22 Wycombe End
	Beaconsfield
	HP9 1NB
	United Kingdom

BUSINESS ADDRESS	Unit 9
	Thrales End Farm & Business Centre
	Thrales End Lane
	Harpenden
	Hertfordshire
	AL5 3NS

COMPANY NUMBER

02723476 (England and Wales)

ACCOUNTANT	S&W Partners (Thames Valley) Limited
	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB

	Note	28.02.2026		28.02.2025
		£		£
Fixed assets
Tangible assets	3	102,701		82,471
		102,701		82,471
Current assets
Stocks		553,850		444,675
Debtors	4	369,706		374,506
Investments	5	3,509,071		2,660,805
Cash at bank and in hand		942,418		1,520,840
		5,375,045		5,000,826
Creditors: amounts falling due within one year	6	( 1,234,855)		( 1,120,039)
Net current assets		4,140,190		3,880,787
Total assets less current liabilities		4,242,891		3,963,258
Provision for liabilities		( 23,348)		( 11,131)
Net assets		4,219,543		3,952,127
Capital and reserves
Called-up share capital	8	100,000		100,000
Profit and loss account		4,119,543		3,852,127
Total shareholders' funds		4,219,543		3,952,127

For the financial year ending 28 February 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Zivtex Limited (registered number: 02723476) were approved and authorised for issue by the Director on 24 July 2026. They were signed on its behalf by:

Mr I Zivan Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Zivtex Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Wycombe End, Beaconsfield, HP9 1NB, United Kingdom. The principal place of business is Unit 9, Thrales End Farm & Business Centre, Thrales End Lane, Harpenden, Hertfordshire, AL5 3NS.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Zivtex Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Reporting period length

The financial statements are prepared for the year ended 28 February 2026. The comparative period covers the thirteen months from 1 February 2024 to 28 February 2025. Accordingly, the comparative amounts are not directly comparable.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

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.

Derivative financial instruments
The Company uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The Company does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in the Statement of Income and Retained Earnings immediately.

The Company does not apply hedge accounting.

Retirement benefits

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

2. Employees

	Year ended 28.02.2026		Period from 01.02.2024 to 28.02.2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Tangible assets

	Vehicles		Fixtures and fittings		Total
	£		£		£
Cost
At 01 March 2025	171,479		45,263		216,742
Additions	71,533		0		71,533
Disposals	( 64,010)		0		( 64,010)
At 28 February 2026	179,002		45,263		224,265
Accumulated depreciation
At 01 March 2025	89,604		44,667		134,271
Charge for the financial year	26,963		149		27,112
Disposals	( 39,819)		0		( 39,819)
At 28 February 2026	76,748		44,816		121,564
Net book value
At 28 February 2026	102,254		447		102,701
At 28 February 2025	81,875		596		82,471

4. Debtors

	28.02.2026		28.02.2025
	£		£
Trade debtors	356,124		350,965
Other debtors	13,582		23,541
	369,706		374,506

5. Current asset investments

	28.02.2026		28.02.2025
	£		£
Other investments	3,509,071		2,660,805

6. Creditors: amounts falling due within one year

	28.02.2026		28.02.2025
	£		£
Trade creditors	18,542		20,602
Taxation and social security	85,930		118,301
Other creditors	1,130,383		981,136
	1,234,855		1,120,039

7. Financial instruments

The carrying values of the Company’s financial assets and liabilities are summarised by category below:

	28.02.2026		28.02.2025
	£		£
Financial assets
Measured at cost less impairment
Other investments	3,509,071		2,660,805
Measured at undiscounted amount receivable
Trade debtors (note 4)	356,124		350,965
Other debtors (note 4)	10,524		20,609
	3,875,719		3,032,379
Financial liabilities
Measured at undiscounted amount payable
Trade creditors (note 6)	( 18,542)		( 20,602)
Other payables (note 6)	( 1,040,909)		( 936,903)
Amounts owed to director (note 6)	( 42,129)		( 5,056)
	(1,101,580)		(962,561)

The company utilises currency derivatives to manage risk, significant future transactions and cash flows. The company is party to foreign exchange forward contracts in the management of its exchange rate exposures. The instruments purchased are primarily denominated in the currencies of the company's principal markets.

At the balance sheet date the total nominal amount of outstanding foreign exchange forward contracts that the company was committed to was £156,775 (2025 - £1,571,236).

Fair value measurements for forward rate agreements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. The fair values of derivative instruments are calculated using quoted prices and are carried at fair value through profit and loss account.

Foreign currency forward contracts are measured using quoted forward exchange rates matching the contracts. At 28 February 2026, the amounts due to the company for currency derivatives are £10,524 (2025 - £20,609), which are included within cost of sales within the profit and loss account. These amounts are based on market values of equivalent instruments at the balance sheet date.

Credit risk

The company's credit risk is principally attributable to its trade debtors. The amounts presented in the balance sheet are net of allowances for impairments for doubtful debts estimated by the company's management based on prior experience and its assessment of the current economic environment.

The company only has a small number of customers but the exposure is spread equally over these and the directors consider there is no significant concentration of credit risk to the company.

Foreign exchange risk

The company purchases and sells products in foreign currencies and as such is exposed to foreign exchange risk. To protect cash flows against high levels of exchange rate risk, the net exposure is calculated and forward exchange contracts are entered into to limit this risk.

These assets are included at fair value through profit and loss and are valued in the financial statements based on their market value at the balance sheet date. These assets are generally de-recognised when the contract that gives rise to them is settled, sold, cancelled or expires.

Financial security and liquidity

The company is financed by the issue of ordinary shares. At 28 February 2026, the company had £942,418 (2025 - £1,520,840) of cash and cash equivalents. The company reviews its cash and capital position regularly to ensure it has adequate resources to meet its liabilities as they fall due.

8. Called-up share capital

	28.02.2026		28.02.2025
	£		£
Allotted, called-up and fully-paid
100,000 Ordinary shares of £ 1.00 each	100,000		100,000

9. Related party transactions

Transactions with the entity's director

At the balance sheet date £42,129 (2025: £5,056) was owed to the director of the company. Advances and repayments totalling £640 (2025: £Nil) and £37,713 (2025: £17,198) respectively, were made during the year.