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REGISTERED NUMBER: 09730414 (England and Wales)

| STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MARCH 2026 |

| FOR |

| LIP HING METAL MANUFACTURING (UK) LTD |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 4 |

Income Statement | 8 |

Other Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 14 |

LIP HING METAL MANUFACTURING (UK) LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2026

| DIRECTORS: | C S A Chow

| P W Lo

| REGISTERED OFFICE: | Unit 2

| Premier Park

| Acheson Way

| Trafford Park

| Manchester

| M17 1GA

| REGISTERED NUMBER: | 09730414 (England and Wales)

| AUDITORS: | Harold Sharp Limited

| Statutory Auditors and Chartered Accountants

| 5 Brooklands Place

| Brooklands Road

| Sale

| Cheshire

| M33 3SD

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2026

The directors present their strategic report for the year ended 31 March 2026.

REVIEW OF BUSINESS

Turnover for the year was £16,743,470 (2025: £17,387,841) and pre-tax profits were £42,459 (2025: £81,477 loss) for the year. The results for the year and the financial position at the yearend were considered satisfactory by the directors, given the challenging economic environment.The company has cash reserves as at date of approval of financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal activity of the company in the year under review was that of wholesale distribution of non-durable goods. The key risks and uncertainties include supply chain and material risk, cost inflation, rising overheads and more.

FINANCIAL RISK MANAGEMENT

The main financial risks to which the Company is exposed are those of interest rate, liquidity, foreign currency and credit. The Company's policy is to maintain strong cash balances where possible and to trade with major customers with strong credit ratings. The financial risks and uncertainties are believed to be under control.

KEY PERFORMANCE INDICATORS

The company's key performance indicators are considered to be those that communicate the financial performance of the company as a whole, these being turnover and operating and pre-tax profit.

FUTURE DEVELOPMENTS

The company will continue to perform wholesale distribution for the parent's key customers in UK and Europe. The distribution in UK and Europe has been stable and is expected to remain consistent in the foreseeable future.

ON BEHALF OF THE BOARD:

C S A Chow - Director

21 July 2026

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale distribution.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2026.

DIRECTORS

C S A Chow has held office during the whole of the period from 1 April 2025 to the date of this report.

Other changes in directors holding office are as follows:

K L Tang - resigned 10 March 2026

P W Lo - appointed 10 March 2026

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;

- | 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Harold Sharp Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C S A Chow - Director

21 July 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LIP HING METAL MANUFACTURING (UK) LTD

Opinion

We have audited the financial statements of Lip Hing Metal Manufacturing (UK) Ltd (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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:

- | give a true and fair view of the state of the company's affairs as at 31 March 2026 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LIP HING METAL MANUFACTURING (UK) LTD

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 identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page three, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LIP HING METAL MANUFACTURING (UK) LTD

Auditors' 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 a Report of the Auditors 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.

As part of our planning process:

- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.

- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, health and safety, employment law and direct and indirect taxes..

We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates.

- Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entities ability to continue in operation.

- Testing key revenue lines, in particular cut-off, for evidence of management bias.

- Obtaining third-party confirmation of material bank balances.

- Documenting and verifying all significant related party balances and transactions.

- Reviewing documentation such as the company board minutes for discussions of irregularities including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors and management.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LIP HING METAL MANUFACTURING (UK) 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 a Report of the Auditors 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.

Thomas Smart (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

Statutory Auditors and Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

21 July 2026

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

INCOME STATEMENT

FOR THE YEAR ENDED 31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

TURNOVER | 3 | 16,743,470 |  | 17,387,841 |  |

Cost of sales | (16,108,914 | ) | (16,595,936 | ) |

GROSS PROFIT | 634,556 |  | 791,905 |  |

Administrative expenses | (489,018 | ) | (742,408 | ) |

OPERATING PROFIT | 5 | 145,538 |  | 49,497 |  |

Interest payable and similar expenses | 6 | (103,079 | ) | (130,974 | ) |

PROFIT/(LOSS) BEFORE TAXATION | 42,459 |  | (81,477 | ) |

Tax on profit/(loss) | 7 | - |  | - |  |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 42,459 |  | (81,477 | ) |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

PROFIT/(LOSS) FOR THE YEAR | 42,459 |  | (81,477 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 42,459 |  | (81,477 | ) |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

BALANCE SHEET

31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 32,537 |  | 2,381 |  |

CURRENT ASSETS

Stocks | 9 | 4,677,988 |  | 1,804,536 |  |

Debtors | 10 | 3,213,332 |  | 5,629,911 |  |

Cash at bank and in hand | 250,312 |  | 416,829 |  |

8,141,632 |  | 7,851,276 |  |

CREDITORS

Amounts falling due within one year | 11 | (8,512,060 | ) | (8,234,007 | ) |

NET CURRENT LIABILITIES | (370,428 | ) | (382,731 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (337,891 | ) | (380,350 | ) |

CAPITAL AND RESERVES

Called up share capital | 13 | 1 |  | 1 |  |

Retained earnings | 14 | (337,892 | ) | (380,351 | ) |

SHAREHOLDERS' FUNDS | (337,891 | ) | (380,350 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2026 and were signed on its behalf by:

C S A Chow - Director

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2024 | 1 |  | (298,874 | ) | (298,873 | ) |

Changes in equity

Total comprehensive income | - |  | (81,477 | ) | (81,477 | ) |

Balance at 31 March 2025 | 1 |  | (380,351 | ) | (380,350 | ) |

Changes in equity

Total comprehensive income | - |  | 42,459 |  | 42,459 |  |

Balance at 31 March 2026 | 1 |  | (337,892 | ) | (337,891 | ) |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (36,391 | ) | 127,537 |  |

Interest paid | (103,079 | ) | (130,974 | ) |

Net cash from operating activities | (139,470 | ) | (3,437 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (35,547 | ) | (902 | ) |

Sale of tangible fixed assets | 8,500 |  | - |  |

Net cash from investing activities | (27,047 | ) | (902 | ) |

Decrease in cash and cash equivalents | (166,517 | ) | (4,339 | ) |

Cash and cash equivalents at beginning of year | 2 | 416,829 |  | 421,168 |  |

Cash and cash equivalents at end of year | 2 | 250,312 |  | 416,829 |  |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2026

1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2026 |  | 2025

£ | £ |

| Profit/(loss) before taxation | 42,459 |  | (81,477 | ) |

| Depreciation charges | 5,378 |  | 3,188 |  |

| Profit on disposal of fixed assets | (8,487 | ) | - |  |

| Finance costs | 103,079 |  | 130,974 |  |

142,429 |  | 52,685 |  |

| (Increase)/decrease in stocks | (2,873,452 | ) | 35,876 |  |

| Decrease/(increase) in trade and other debtors | 2,416,579 |  | (1,135,467 | ) |

| Increase in trade and other creditors | 278,053 |  | 1,174,443 |  |

| Cash generated from operations | (36,391 | ) | 127,537 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 March 2026

| 31/3/26 |  | 1/4/25

£ | £ |

| Cash and cash equivalents | 250,312 |  | 416,829 |  |

| Year ended 31 March 2025

| 31/3/25 |  | 1/4/24

£ | £ |

| Cash and cash equivalents | 416,829 |  | 421,168 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/4/25 | Cash flow | At 31/3/26

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 416,829 |  | (166,517 | ) | 250,312 |  |

416,829 |  | (166,517 | ) | 250,312 |  |

| Total | 416,829 |  | (166,517 | ) | 250,312 |  |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1. | STATUTORY INFORMATION

| Lip Hing Metal Manufacturing (UK) Ltd is a private company limited by shares, incorporated in England. The company's registered number is 09730414 and registered office is Unit 2 Premier Park Acheson Way, Manchester, M17 1GA.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirement of paragraph 33.7.

| Critical accounting 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 liability 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.

| 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.

| Improvements to property | - | 20% on cost

| Plant and machinery | - | 20% on cost

| Fixtures and fittings | - | 20% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 33% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102

| Financial instruments are recongised 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 recongised 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, including trade debtors, other 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. Financial assets classified as receivable within one year are not amortised

| 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.

| Basic financial liabilities, including trade creditors, other creditors, amounts owed to a group undertakings and directors loan accounts 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 are derecognsied when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

| Derivative financial instruments are recognsied at fair value using a valuation technique with any gains or losses being reported in profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| 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.

| Going concern

| The company has cash reserves as at the date of approval of the financial statements and has sufficient working capital to enable it to continue to trade and meet its liabilities as they fall due. The company's commercial stability is underpinned by its reliable market performance, consistent business model, and strong customer relationships, alongside a proven operating history. Whilst there can be no certainty in this respect, the directors are confident that group support will continue to be provided if necessary.

| As a result, the directors believe that the group will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.

| Financial instruments

| All financial assets and liabilities are measured at transaction price

3. | TURNOVER

| The turnover and profit (2025 - loss) before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 2026 |  | 2025

£ | £ |

| United Kingdom | 13,415,409 |  | 13,192,726 |  |

| Europe | 3,169,874 |  | 4,011,716 |  |

| Other | 158,187 |  | 183,399 |  |

16,743,470 |  | 17,387,841 |  |

4. | EMPLOYEES AND DIRECTORS

| 2026 |  | 2025

£ | £ |

| Wages and salaries | 319,296 |  | 318,438 |  |

| Social security costs | 31,450 |  | 28,839 |  |

| Other pension costs | 6,547 |  | 6,658 |  |

357,293 |  | 353,935 |  |

| The average number of employees during the year was as follows:

| 2026 |  | 2025

7 |  | 8 |  |

| 2026 |  | 2025

£ | £ |

| Directors' remuneration | - |  | - |  |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2026 |  | 2025

£ | £ |

| Depreciation - owned assets | 5,378 |  | 3,188 |  |

| Profit on disposal of fixed assets | (8,487 | ) | - |  |

| Auditors' remuneration | 10,000 |  | 10,000 |  |

| Foreign exchange differences | (203,173 | ) | 56,215 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2026 |  | 2025

£ | £ |

| Interest expense | 103,079 |  | 130,974 |  |

7. | TAXATION

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 31 March 2026 nor for the year ended 31 March 2025.

8. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| to |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 April 2025 | 47,180 |  | 72,180 |  | 22,061 |  |

| Additions | - |  | 190 |  | - |  |

| Disposals | - |  | (393 | ) | (719 | ) |

| At 31 March 2026 | 47,180 |  | 71,977 |  | 21,342 |  |

| DEPRECIATION

| At 1 April 2025 | 46,567 |  | 71,831 |  | 21,923 |  |

| Charge for year | 613 |  | 194 |  | 86 |  |

| Eliminated on disposal | - |  | (393 | ) | (706 | ) |

| At 31 March 2026 | 47,180 |  | 71,632 |  | 21,303 |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  | 345 |  | 39 |  |

| At 31 March 2025 | 613 |  | 349 |  | 138 |  |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

8. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2025 | 20,990 |  | 38,197 |  | 200,608 |  |

| Additions | 30,341 |  | 5,016 |  | 35,547 |  |

| Disposals | (20,990 | ) | - |  | (22,102 | ) |

| At 31 March 2026 | 30,341 |  | 43,213 |  | 214,053 |  |

| DEPRECIATION

| At 1 April 2025 | 20,990 |  | 36,916 |  | 198,227 |  |

| Charge for year | 3,161 |  | 1,324 |  | 5,378 |  |

| Eliminated on disposal | (20,990 | ) | - |  | (22,089 | ) |

| At 31 March 2026 | 3,161 |  | 38,240 |  | 181,516 |  |

| NET BOOK VALUE

| At 31 March 2026 | 27,180 |  | 4,973 |  | 32,537 |  |

| At 31 March 2025 | - |  | 1,281 |  | 2,381 |  |

9. | STOCKS

2026 | 2025 |

£ | £ |

| Stocks | 4,677,988 |  | 1,804,536 |  |

10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

£ | £ |

| Trade debtors | 3,123,646 |  | 5,228,068 |  |

| Amounts owed by group undertakings | 4,450 |  | 345,501 |  |

| Other debtors | 85,236 |  | 56,342 |  |

3,213,332 |  | 5,629,911 |  |

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

£ | £ |

| Trade creditors | 10,363 |  | 6,658 |  |

| Amounts owed to group undertakings | 6,990,364 |  | 6,177,698 |  |

| Social security and other taxes | 316,945 |  | 532,438 |  |

| Other creditors | 1,040,472 |  | 1,333,666 |  |

| Accruals and deferred income | 153,916 |  | 183,547 |  |

8,512,060 |  | 8,234,007 |  |

LIP HING METAL MANUFACTURING (UK) LTD (REGISTERED NUMBER: 09730414)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

12. | LEASING AGREEMENTS

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

2026 | 2025 |

£ | £ |

| Within one year | 25,425 |  | 101,700 |  |

| Between one and five years | - |  | 25,425 |  |

25,425 |  | 127,125 |  |

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: | £ | £ |

| 100 | Ordinary | 0.01 | 1 |  | 1 |  |

14. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2025 | (380,351 | ) |

| Profit for the year | 42,459 |  |

| At 31 March 2026 | (337,892 | ) |

15. | PENSION COMMITMENTS

| The company operates a contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £6,547 (2025: £6,658). At the balance sheet date £1,417 (2025: £1,486) is outstanding in relation to pensions and is recorded in other creditors.

16. | 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.

| The company's immediate parent company is LHM Manufacturing (Global) Limited (17581), a company incorporated and registered in Samoa.

| The smallest and largest group of which the company is a member and for which consolidated financial statements are prepared is LHM Holdings Limited (72518), a company incorporated and registered in Samoa.