Daniel Bush 0 1 0 31 December 2025 25.00 25.00 1520237 1 0 0 1 January 2025 0 Reserves represent current year profits and the accumulation of historic profits, net of dividends paid, of which there are nil for both 2025 and 2024.Allotted, called up and fully paid ordinary shares of £1.00 1 2 2 30165136 28264826 30165136 28264826 256607 256607 256607 Southco Brasil Componentes Industriais Ltds Brazil 6790896 539684 Ordinary 99.99 5222752 5222752 5346005 5346005 256607 187604 213610 444211 213610 1776844 854439 256607 256607 423572 417109 423572 417109 Tax is recognised in profit or loss except that a charge attributable to an item recognised in other comprehensive income or directly in equity. In this case, the tax is recognised in other comprehensive income or directly in equity respectively.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.At each period end, foreign currency monetary items are translated using the closing rate, non-monetary items measured on a historical cost basis are translated using the exchange rate at the date of the transaction, and non-monetary items measured at fair value in a foreign currency are translated using the rate at the date when the fair value was determined.Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.Valuation of investments The Company's functional and presentational currency is the Pound Sterling.The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006.The principal activity of the Company is as a Holding company.2 23041290 23041288 854439 854439 854439 854439 2 23895729 23895727 2 24561527 24561525 1520237 1520237 1520237 5 August 2026 24561525 23041288 24561525 23041288 29907530 28264040 257606 786 999 786 5346005 5222752 1776844 854439 1353272 1271548 1351596 1273135 1676 1587 Grant Thornton UK LLP Sreekanth Gaddamanugu We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined the following laws and regulations were most significant: the financial reporting framework being FRS 102 and Companies Act 2006, together with the relevant tax regulations;We obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework through researching relevant laws and regulations within the industry in which the company operates in as well as the overarching company laws within their competitive environments;We inquired with management to confirm whether there are any instances of non-compliance with laws and regulations. In addition to this, testing over a sample of legal and professional costs was completed to check that there were no indicators of potential additional liabilities.We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur and the risk of management override of controls. Audit procedures performed by the engagement team included:o Identifying and assessing the design and implementation of controls management has in place to prevent and detect fraud. o Identifying and testing journal entries, in particular journals with specific risk criteria.o Completion of audit procedures to conclude on the compliance of disclosures in the annual report and financial statements with a applicable financial reporting requirements.o Assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item.These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it;The engagement partner’s assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s work:Understanding of, and practical experience with, audit engagements of a similar nature and complexity, through appropriate training and participation. Knowledge of the industry in which the client operates. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.As explained more fully in the directors' responsibilities statement set out on page 5, 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.adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; orthe financial statements are not in agreement with the accounting records and returns; orcertain disclosures of Directors' remuneration specified by law are not made; orwe have not received all the information and explanations we require for our audit. the directors were not entitled to prepare the financial statements in accordance with the small companies regime.The other information comprises the information included in the annual report and financial statements, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report and financial statements. 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is 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 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.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 loss for the year then ended;the financial statements have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; andthe financial statements have been prepared in accordance with the requirements of the Companies Act 2006 We have audited the financial statements of Southco Severn Limited (the 'company') for the year ended 31 December 2025, which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including a summary of 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).5 August 2026 Each of the persons who are Directors at the time when this Directors' report is approved has confirmed that:so far as the Directors are aware, there is no relevant audit information of which the Company's auditors are unaware, andthe Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.Rosalind Spinage Philip Kempson Directors' responsibilities statementThe Directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 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 for the Company's financial statements 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; 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.Bank of America Birmingham Touch Point Wainwright Road Warndon Worcester WR4 9FA 08368439 31 December 2025 Annual Report and Financial Statements Southco Severn Ltd Financials UK FRS 102 2026.7.0+87708 5 August 2026 08368439 bus:Audited 2025-01-01 2025-12-31 08368439 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 08368439 bus:OrdinaryShareClass1 2025-12-31 08368439 core:RetainedEarningsAccumulatedLosses 2025-12-31 08368439 core:RetainedEarningsAccumulatedLosses 2024-12-31 08368439 bus:Agent1 2025-01-01 2025-12-31 08368439 bus:Director2 2025-01-01 2025-12-31 08368439 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 08368439 core:ShareCapital 2024-12-31 08368439 core:RetainedEarningsAccumulatedLosses 2024-01-01 08368439 bus:Director1 2025-01-01 2025-12-31 08368439 core:ShareCapital 2025-12-31 08368439 core:CurrentFinancialInstruments 2025-12-31 08368439 core:Subsidiary1 2025-01-01 2025-12-31 08368439 core:Subsidiary1 1 2025-01-01 2025-12-31 08368439 bus:Director3 2025-01-01 2025-12-31 08368439 bus:RegisteredOffice 2025-01-01 2025-12-31 08368439 core:ShareCapital 2024-01-01 08368439 bus:FullAccounts 2025-01-01 2025-12-31 08368439 curr:PoundSterling 2025-01-01 2025-12-31 08368439 core:Non-currentFinancialInstruments 2024-12-31 08368439 bus:OrdinaryShareClass1 2024-12-31 08368439 2025-01-01 08368439 core:CurrentFinancialInstruments 2024-12-31 08368439 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 08368439 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 08368439 core:Non-currentFinancialInstruments 2025-12-31 08368439 core:Subsidiary1 2025-12-31 08368439 1 2025-01-01 2025-12-31 08368439 bus:FRS102 2025-01-01 2025-12-31 08368439 2024-12-31 08368439 2025-12-31 08368439 2024-01-01 2024-12-31 08368439 2025-01-01 2025-12-31 08368439 2024-01-01 xbrli:pure xbrli:pure xbrli:shares iso4217:GBP iso4217:GBP xbrli:shares iso4217:GBP

Registered number: 08368439 # Southco Severn Ltd ​​​​​ #### Annual Report and ​​Financial Statements #### For the year ended 31 December 2025
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Company information #### ​Directors Daniel Bush Philip Kempson Rosalind Spinage #### Registered number 08368439​ #### Registered office ​​Touch Point​ Wainwright Road​ ​ Warndon​ Worcester​ WR4 9FA​ #### ​Independent auditors Grant Thornton UK LLP​​​ 17th Floor​ 103 Colmore Row​ ​ Birmingham​ ​ B3 3AG​ #### Bankers Bank of America​ 2 King Edward Street​ ​ ​ London​ ​ EC1A 1HQ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
SOUTHCO SEVERN LTD Strategic report For the year ended 31 December 2025 #### Introduction The directors present their strategic report for the year end 31 December 2025 #### Business review The Company is a wholly owned subsidiary of Touchpoint Inc. which is incorporated in the United States of America, and operates as part of the group's European division. The Company's principal activity is as a holding company. The company holds 99.99% of the share capital of Southco Brasil Componentes Industriais Ltda. The Directors are not aware, at the date of this report, of any likely major changes to the Company's activities in the next year. #### Principal risks and uncertainties The Company's investment is impacted by the performance of the Brazilian economy. An impairment review has been carried out to assess the net assets against the investment held, together with other factors which may cause impairment. No impairment has been deemed necessary. The management team in the subsidiary company are actively involved in managing risks to the company. Liquidity risk: The Company participates in group centralised treasury facilities. Foreign currency risk: Inter-company balances owed are in a currency different to sterling. This gives rise to the risk of currency fluctuations. However, strategic currency trades are performed at a group level and the strategy is therefore to achieve an overall balance in buying and selling currencies across the group. Credit risk: The Directors make investment decisions and review company performance through a process of annual budget preparation, and monthly performance reviews. Group instructions direct policy in the areas of credit control and customer risk management.
SOUTHCO SEVERN LTD Strategic report For the year ended 31 December 2025 #### Financial key performance indicators The Directors do not apply KPI's to the performance of the Company, which is an investment holding company. The Directors monitor the performance of the Company's investments and the wider group and make appropriate decisions based on the results. This report was approved by the board and signed on its behalf by the director:
Daniel Bush |
5 August 2026 |
SOUTHCO SEVERN LTD Directors' responsibilities statement For the year ended 31 December 2025 The Directors are​​ responsible for preparing the Strategic report, the Directors' report and​​ the​ financial statements in accordance with applicable law and regulations. Company law requires the Director to prepare financial statements for each financial year. Under that law the Directors have​ elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Director 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 for the Company's financial statements 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.
SOUTHCO SEVERN LTD Directors' report For the year ended 31 December 2025 The Directors present​​ their​ report and the financial statements for the year ended 31 December 2025. Directors' responsibilities statement​ The Directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 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 for the Company​​'s financial statements 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. The Directors have acted in the way that they considered, in good faith, would be most likely to promote the success of the Company for the benefit of its member as a whole and this section forms our Section 172 disclosure, describing how, in doing so, the Directors considered the matters set out in section 172(1)(a) to (f) of the Companies Act 2006. The Directors also took into account the views and interests of a wider set of stakeholders, including customers, suppliers, employees and Regulators. The Directors have acted in a way that they considered, in good faith, to be most likely to promote the success of the Company for the benefit of its members as a whole, and in doing so had regard amongst other matters to: • the likely consequences of any decision in the long term; • the need to foster the Company’s business relationships with suppliers, customers and others;
SOUTHCO SEVERN LTD Directors' report For the year ended 31 December 2025 • the impact of the Company’s operations on the community and the environment; • the impact of the Company’s operations on the Company’s employees; • the desirability of the Company maintaining a reputation for high standards of business conduct. In addition, the Company exists within the wider TouchPoint Inc. Group and relationships with other Group companies including the Company’s shareholder, Southco Manufacturing Limited. are key to the Company’s success. #### Going concern Following a review of forecasts, statement of comprehensive income and statement of financial position, the board is satisfied the Company has sufficient financial resources to meet its obligations as they fall due for a period of 12 months from the approval of these financial statements. In addition to this the Company has access to a group revolving credit facility managed by the parent company, TouchPoint Inc. In August 2022, the parent company amended and restated the credit facility to increase it to $400M and extend its expiration date to August 2027. The Directors are comfortable that the parent company will remain in compliance with all covenants as part of this credit facility. A guarantee from Southco Manufacturing Limited is obtained to cover any shortfall in the Company's cash position to December 2027 and the Directors have satisfied themselves of Southco Manufacturing Limited's ability to provide the support. As a consequence, the Directors believe that the Company is well placed to manage its business risks successfully and are further satisfied that the going concern basis is appropriate. #### Results and Dividends The loss for the year, after taxation, amounted to £1,520,237 (2024 - profit £854,439) No dividends were paid in the year, or the preceding year. #### Qualifying indemnity provisions For the full period and up to the date of the directors’ report being approved, a qualifying third party indemnity provision was in force during the financial year for the benefit of one or more of the directors of the company in accordance with the provisions of the Companies Act of 2006.
SOUTHCO SEVERN LTD Directors' report For the year ended 31 December 2025 #### Research and development The company carried out no research and development in the year, and does not expect to do so in the coming year. #### Directors​​​​​ The Directors​ who served during the year: Daniel Bush Philip Kempson Rosalind Spinage #### Future developments The Directors believe that the company will continue to maintain its function as a holding company and that the risks that have been identified are being well managed. #### Engagement with suppliers, customers and others in a business relationship The company has no suppliers or customers, but continues to engage with inter-company partners and to foster a strong working relationship. #### Disclosure of information to auditors Each of the persons who are Directors​​​ at the time when this Directors' report​​ is approved has confirmed that:
| • | so far as the Directors are​​​​​ aware, there is no relevant audit information of which the Company's auditors are unaware, and
| • | the Director​​​ has taken all the steps that ought to have been taken as a Director​ in order to be aware of any relevant audit information and to establish that the Company​'s auditors​​​​ are​​​ aware of that information.
SOUTHCO SEVERN LTD Directors' report For the year ended 31 December 2025 #### Events since the balance sheet​ date There have been no significant events affecting the Company since the year end. Auditors​ The auditors​, Grant Thornton UK LLP​, have​ indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting. Under section 487(2) of the Companies Act 2006, Grant Thornton UK LLP​ will be deemed to have been reappointed as auditors​ 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier. This report was approved by the board and signed on its behalf by the director:
Daniel Bush |
Date: 5 August 2026
SOUTHCO SEVERN LTD Independent auditors' report to the members of SOUTHCO SEVERN LTD #### Opinion We have audited the financial statements of Southco Severn Limited (the 'company') for the year ended 31 December 2025, which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including a summary of 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:
| • | 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 loss for the year then ended;
| • | the financial statements have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
| • | the financial statements 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.
SOUTHCO SEVERN LTD Independent auditors' report to the members of SOUTHCO SEVERN LTD #### Conclusions relating to going concern We are responsible for concluding on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the company to cease to continue as a going concern. In our evaluation of the directors’ conclusions, we considered the inherent risks associated with the company's business model including effects arising from macro-economic uncertainties such as the geopolitical situation and the impact of that on the UK economic activity, we assessed and challenged the reasonableness of estimates made by the directors and the related disclosures and analysed how those risks might affect the company's financial resources or ability to continue operations over the going concern period. 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 and financial statements, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report and financial statements. 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is 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.
SOUTHCO SEVERN LTD Independent auditors' report to the members of SOUTHCO SEVERN LTD We have nothing to report in this regard. #### Opinion 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.
#### Matter on which we are required to report under the Companies Act 2006 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 material misstatements in the strategic report or the directors’ report. #### Matters on which we are required to report by exception 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.
| • | the directors were not entitled to prepare the financial statements in accordance with the small companies regime.
SOUTHCO SEVERN LTD Independent auditors' report to the members of SOUTHCO SEVERN LTD #### Responsibilities of directors As explained more fully in the directors' responsibilities statement set out on page 5, 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. #### Our 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
SOUTHCO SEVERN LTD Independent auditors' report to the members of SOUTHCO SEVERN LTD
| • | We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined the following laws and regulations were most significant: the financial reporting framework being FRS 102 and Companies Act 2006, together with the relevant tax regulations;
| • | We obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework through researching relevant laws and regulations within the industry in which the company operates in as well as the overarching company laws within their competitive environments;
| • | We inquired with management to confirm whether there are any instances of non-compliance with laws and regulations. In addition to this, testing over a sample of legal and professional costs was completed to check that there were no indicators of potential additional liabilities.
| • | We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur and the risk of management override of controls. Audit procedures performed by the engagement team included:
o Identifying and assessing the design and implementation of controls management has in place to prevent and detect fraud. o Identifying and testing journal entries, in particular journals with specific risk criteria. o Completion of audit procedures to conclude on the compliance of disclosures in the annual report and financial statements with a applicable financial reporting requirements. o Assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item.
| • | These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it;
|  | The engagement partner’s assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s work: Understanding of, and practical experience with, audit engagements of a similar nature and complexity, through appropriate training and participation. Knowledge of the industry in which the client operates.
| • | Understanding of, and practical experience with, audit engagements of a similar nature and complexity, through appropriate training and participation.
| • | Knowledge of the industry in which the client operates.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
SOUTHCO SEVERN LTD Independent auditors' report to the members of SOUTHCO SEVERN LTD #### 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. Sreekanth Gaddamanugu Senior statutory auditor For and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants Birmingham Date:5 August 2026
SOUTHCO SEVERN LTD Statement of comprehensive income​ ​For the year ended 31 December 2025
| Note | 2025 £ | 2024 £
--- | --- | --- | ---
Administrative expenses |  | (1,676) | (1,587)
Other operating income/(expense) | 4 | (1,351,596) | 1,273,135
Operating (Loss)/profit |  | (1,353,272) | 1,271,548
Interest payable and similar expenses |  | (423,572) | (417,109)
(Loss)/profit before tax |  | (1,776,844) | 854,439
Tax on (Loss)/profit | 7 | 256,607 | -
(Loss)/profit for the financial year |  | (1,520,237) | 854,439
Total comprehensive income/(expense) for the financial year |  | (1,520,237) | 854,439
The notes on pages 19 to 28 form part of these financial statements.
SOUTHCO SEVERN LTD Registered number: 08368439​ Statement of financial position​ As at 31 December 2025
| Note | 2025 £ | 2024 £
--- | --- | --- | ---
Fixed assets |  |  |
Investments | 8 | 5,346,005 | 5,222,752
|  | 5,346,005 | 5,222,752
Current assets |  |  |
Debtors: amounts falling due after more than one year | 9 | 256,607 | -
Cash at bank and in hand | 10 | 999 | 786
|  | 257,606 | 786
Creditors: amounts falling due within one year | 11 | (30,165,136) | (28,264,826)
Net current liabilities |  | (29,907,530) | (28,264,040)
Total assets less current liabilities |  | (24,561,525) | (23,041,288)
Net liabilities |  | (24,561,525) | (23,041,288)
Capital and reserves |  |  |
Called up share capital | 13 | 2 | 2
Profit and loss account | 14 | (24,561,527) | (23,041,290)
Total capital and reserves |  | (24,561,525) | (23,041,288)
The financial statements were approved and authorised for issue by the board and were signed on its behalf by the Director:
Daniel Bush​​​​​ | ​​
Director | ​​​
Date: 5 August 2026 The notes on pages 19 to 28 form part of these financial statements.
SOUTHCO SEVERN LTD Statement of changes in equity For the year ended 31 December 2025​
| Note | Called up share capital £ | Profit and loss account £ | Total £
--- | --- | --- | --- | ---
At 1 January 2025 | 12, 13 | 2 | (23,041,290) | (23,041,288)
(Loss) for the year |  | - | (1,520,237) | (1,520,237)
At 31 December 2025 |  | 2 | (24,561,527) | (24,561,525)
| Note | Called up share capital £ | Profit and loss account £ | Total £
--- | --- | --- | --- | ---
At 1 January 2024 | 12, 13 | 2 | (23,895,729) | (23,895,727)
Profit for the year |  | - | 854,439 | 854,439
At 31 December 2024 |  | 2 | (23,041,290) | (23,041,288)
The notes on pages 19 to 28 form part of these financial statements.
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 1. General information Southco Severn Limited is a private company limited by shares and is incorporated in England & Wales. The address of its registered office is Touch Point​, Wainwright Road​, ​, Warndon​, Worcester​. The principal activity of the Company is as a Holding company. 2. Accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all periods presented, unless otherwise stated. a. Basis of preparation of financial statements The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with ​Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's​ accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3. The Company's functional and presentational currency is the Pound Sterling. b. Disclosure exemptions for qualifying entities under FRS 102 The Company has taken advantage of the following disclosure exemptions in preparing its financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
| • | the requirements ofSection 7 Statement of Cash Flows and paragraph 3.17(d).
| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b) and 12.29Aas equivalent information is included in the consolidated financial statements of the group in which the Company is consolidated.
| • | the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23 as the Company is a subsidiary and the share-based payment arrangement concerns equity instruments of another group entity.
| • | the requirement of paragraph 33.7.
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 2. Accounting policies continued b. Disclosure exemptions for qualifying entities under FRS 102 continued The information is included in the consolidated financial statements of Touchpoint, Inc as at 31 December 2025 and these financial statements may be obtained from 2595 Interstate Dr., Ste. 103. Harrisburg, PA, 17110. c. Going concern In forming their going concern assessment the Directors have obtained a letter of support from its immediate parent undertaking, Southco Manufacturing Limited, and from its ultimate parent company and ultimate controlling party, Touchpoint Inc, who have agreed to provide financial support to the Company for a period of 12 months from the approval of these financial statements. As a result of this the Directors have a reasonable expectation that Southco Severn Ltd has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. d. Finance costs Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. e. Valuation of investments Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period. f. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 2. Accounting policies continued g. Foreign currency translation Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end, foreign currency monetary items are translated using the closing rate, non-monetary items measured on a historical cost basis are translated using the exchange rate at the date of the transaction, and non-monetary items measured at fair value in a foreign currency are translated using the rate at the date when the fair value was determined. Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition are recognised in profit or loss for the year. Gains and losses relating to borrowings and cash and cash equivalents are presented within 'other finance income or finance costs', with all other foreign exchange gains and losses presented in 'other operating income or expenses'. Where FRS 102 requires a gain or loss on a non-monetary item to be recognised in other comprehensive income, any exchange component of that gain or loss must also be recognised in other comprehensive income. h. Taxation Tax is recognised in profit or loss except that a charge attributable to an item recognised in other comprehensive income or directly in equity. In this case, the tax is recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company ​operates​​ and generates​​ income. i. Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. j. Financial Instruments The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 2. Accounting policies continued j. Financial Instruments continued Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 3. Judgements #### Judgements in applying accounting policies and key sources of estimation uncertainty The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. Management consider there to be no critical estimates. 4. Other operating income The operating profit/(loss) is stated after crediting/(debiting):
Description | 2025 £ | 2024 £
--- | --- | ---
Gain/(loss) on foreign exchange | (1,351,596) | 1,273,135
5. Auditors' remuneration The audit fee in relation to services provided to Southco Severn Limited amounting to £17,614 (2024:£17,101) has been borne by its parent company Southco Manufacturing Limited. This includes expenses incurred in performing the audit. 6. Interest payable and similar expenses
| 2025 £ | 2024 £
--- | --- | ---
Interest payable to group undertakings | 423,572 | 417,109
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 7. Taxation
| 2025 £ | 2024 £
--- | --- | ---
Corporation tax |  |
UK Corporation tax on profits/(losses) for the year | (256,607) | -
| (256,607) | -
Total current tax | (256,607) | -
Tax on (Loss)/profit | (256,607) | -
Factors affecting tax credit for the year The tax assessed for the year is lower (2024 - lower) the standard rate of corporation tax in the UK of 25.00% (2024 - 25.00%). The differences are explained below:
Reconciliation of tax credit | 2025 £ | 2024 £
--- | --- | ---
Profit/loss before tax | (1,776,844) | 854,439
Profit/loss multiplied by the standard rate of corporation tax in the UK of 25.00% (2024 - 25.00%) | (444,211) | 213,610
Effects of: |  |
Group relief | 187,604 | (213,610)
Total tax credit for the year | (256,607) | -
a. Factors that may affect future tax charges At the time of signing of the Directors' report, there were no proposed future changes to the rate of Corporation Tax. The Company continues to monitor legislation to remain informed of future changes to tax rates.
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 8. Fixed asset investments
| Investments in subsidiaries £ | Total £
--- | --- | ---
Cost or valuation |  |
At 1 January 2025 | 23,671,278 | 23,671,278
Additions | 123,253 | 123,253
At 31 December 2025 | 23,794,531 | 23,794,531
Impairment |  |
1 January 2025 | (18,448,526) | (18,448,526)
Net book value |  |
At 31 December 2025 | 5,346,005 | 5,346,005
At 31 December 2024 | 5,222,752 | 5,222,752
Each year the value of the net investment in the Brazilian subsidiary is compared to its net assets revalued at the balance date. An impairment charge is then made to bring these two values into line. Subsidiary undertaking The following was a subsidiary undertaking of the Company.
Name | Registered office | Aggregate of share capital and reserves - 2025 £ | Profit/ (Loss) 2025 £ | Class of shares | Holding %
--- | --- | --- | --- | --- | ---
Southco Brasil Componentes Industriais Ltds | Brazil | 6,790,896 | 539,684 | Ordinary | 99.99
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 8. Fixed asset investments continued
Name | Registered office | Aggregate of share capital and reserves - 2024 £ | Profit/ (Loss) 2024 £ | Class of shares | Holding %
--- | --- | --- | --- | --- | ---
Southco Brasil Componentes Industriais Ltds | Brazil | 5,833,871 | (208,923) | Ordinary | 99.99
9. Debtors
| 2025 £ | 2024 £
--- | --- | ---
Due after more than one year |  |
Deferred taxation | 256,607 | -
| 2025 £ | 2024 £
--- | --- | ---
Total debtors | 256,607 | -
10. Cash and cash equivalents
Description | 2025 £ | 2024 £
--- | --- | ---
Cash at bank and in hand | 999 | 786
11. Creditors
| 2025 £ | 2024 £
--- | --- | ---
Amounts owed to group undertakings | 30,165,136 | 28,264,826
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 12. Financial Instruments
Description | 2025 £ | 2024 £
--- | --- | ---
Financial assets |  |
Cash and cash equivalents | 999 | 786
Financial liabilities measured at amortised cost | (30,165,136) | (28,264,826)
Cash and cash equivalents comprise cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Financial liabilities measured at amortised cost comprise amounts owed to group undertakings. 13. Share capital
| 2025 Par Value £ | 2025 Number | 2025 £ | 2024 Number | 2024 £
--- | --- | --- | --- | --- | ---
Allotted, called up and fully paid ordinary shares of £1.00 | 1 | 2 | 2 | 2 | 2
There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital. All shares hold the same voting rights. 14. Reserves Profit and loss account Reserves represent current year profits and the accumulation of historic profits, net of dividends paid, of which there are nil for both 2025 and 2024.
SOUTHCO SEVERN LTD Notes to the financial statements For the year ended 31 December 2025 15. Related party transactions Related party transactions in the current period consist only of amounts owed to the parent company. Amounts owed to Southco Manufacturing Limited at 31 December 2025 amounted to £30,165,136 (2024: £28,264,826). This amount includes a loan and associated interest, and it is at arms’ length. Amounts owed to group companies are repayable on demand. 16. Events after the end of the reporting period There have been no significant events affecting the Company since the year end. 17. Controlling party At 31 December 2025, the immediate parent company was Southco Manufacturing Limited, which is incorporated in the United Kingdom. The ultimate parent undertaking, controlling party and the smallest and largest group to consolidate these financial statements is TouchPoint Inc incorporated in the United States of America. Copies of the TouchPoint Inc consolidated financial statements can be obtained from the Company Secretary at 2595 Interstate Dr., Ste. 103. Harrisburg, PA, 17110.