REGISTERED NUMBER: 03319037 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

COMEFRI U.K. LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S Braun

Mr R Braun

Mrs V Drought

SECRETARY:

Milton Secretaries Ltd

REGISTERED OFFICE:

10 Orange Street

Haymarket

London

WC2H 7DQ

REGISTERED NUMBER:

03319037 (England and Wales)

AUDITORS:

TC Group, Statutory Auditor

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

CURRENT ASSETS

Stocks

5

322,946

257,728

Debtors

6

480,661

429,978

Cash at bank and in hand

1,383,991

1,305,744

2,187,598

1,993,450

CREDITORS

Amounts falling due within one year

7

685,115

503,768

NET CURRENT ASSETS

1,502,483

1,489,682

TOTAL ASSETS LESS CURRENT LIABILITIES

1,502,483

1,489,682

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Retained earnings

1,452,483

1,439,682

SHAREHOLDERS' FUNDS

1,502,483

1,489,682

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 24 July 2026 and were signed on its behalf by:

Mr R Braun - Director

1.	STATUTORY INFORMATION

Comefri U.K. 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. The business address of the company is as follows:

10 Carters Lane

Kiln Farm

Milton Keynes

MK11 3ER

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.

There were no material departures from the standard.

Functional and presentational currency

The Company's functional and presentational currency is GBP. All the amounts have been rounded to the nearest Pound, unless otherwise indicated.

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

Leasehold Improvement

-

Straight line over the life of the lease

Plant and machinery

-

33% on cost and 20% on cost

Computer equipment

-

50% on cost

Tangible fixed assets are initially recorded at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stocks comprise finished goods and spare parts. Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is calculated on an average cost basis.

Consignment stocks from the manufacturers are included at cost.

Financial instruments

Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently 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 they are included in a hedging arrangement.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating leases

Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, on a straight-line basis over the period of the lease.

Going concern

The accounts for the company have been prepared on the going concern basis. This basis of preparation reflects the position that the company receives continued financial support from its parent company, CO.ME.FRI. - Construzioni Meccaniche Friulane S.p.A, (trading as CO.ME.FRI S.p.A).

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Computer

Improvement

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2025

and 31 December 2025

19,055

36,146

4,835

60,036

DEPRECIATION

At 1 January 2025

and 31 December 2025

19,055

36,146

4,835

60,036

NET BOOK VALUE

At 31 December 2025

-

-

-

-

At 31 December 2024

-

-

-

-

5.

STOCKS

2025

2024

£

£

Stocks

322,946

257,728

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

426,825

378,783

Other debtors & prepayments

53,836

51,195

480,661

429,978

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

94,153

156,389

Amounts owed to group undertakings

120,345

5,167

Corporation tax

141,028

125,100

VAT

83,800

88,251

Accruals and deferred income

245,789

128,861

685,115

503,768

There are no fixed credit terms with the parent company. Payments are made to minimise exchange losses as and when the funds are available and exchange rates favourable. No interest is charged on intercompany balances and the amounts are not secured.

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

102,438

111,288

Between one and five years

-

102,014

102,438

213,302

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

50,000

Ordinary Shares

1

50,000

50,000

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

The Report of the Auditors was unqualified.

Antonia Aldridge-Brown FCCA (Senior Statutory Auditor)

for and on behalf of TC Group, Statutory Auditor

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Purchases with non-wholly owned group companies during the year amounted to £nil (2024: £885). The balance outstanding at the year end amounts to £nil (2024: £nil).

One of the directors provides services to the company during the year amounting to £52,605 (2024: £26,820). The balance owed to the director at the year end amounts to £6,254 (2024: £2,300).

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Braun.

CO.ME.FRI. - Construzioni Meccaniche Friulane S.p.A, (trading as CO.ME.FRI S.p.A) is the parent undertaking of the largest and the smallest group of undertakings to consolidate these financial statements.

The consolidated financial statements of CO.ME.FRI. - Construzioni Meccaniche Friulane S.p.A, (trading as CO.ME.FRI S.p.A) can be obtained from, the Company Secretary, CO.ME.FRI S.p.A, Via Buia 3, 33010 Magnano in Riviera, (Udine), Italy.