IRIS Accounts Production v26.1.10.61 02878477 Board of Directors 1.1.25 31.12.25 31.12.25 Medium entities the manufacture and sale of steel cutting dies and the sale of associated products for the label and envelope industries. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 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REGISTERED NUMBER: 02878477 (England and Wales)

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| KOCHER & BECK UK LIMITED |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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 | 15 |

KOCHER & BECK UK LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | Mr L Beck

| Mr R W North

| SECRETARY: | Ms H Leather

| REGISTERED OFFICE: | Brunel Way

| Stephenson Industrial Estate

| Coalville

| Leicestershire

| LE67 3HF

| REGISTERED NUMBER: | 02878477 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Mrs Ruth Cox ACA BA (Hons)

| AUDITORS: | Mark J Rees LLP Chartered Accountants

| and Statutory Auditors

| Granville Hall

| Granville Road

| Leicester

| LE1 7RU

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

Events in 2025 were dominated by the rising costs for businesses, with many suppliers increasing their prices in all sectors. Historical events such as Brexit are also still having an impact, with the tariffs and export costs effectively pricing UK companies out of the European market.

Despite the difficulties throughout 2025, our focus has been on protecting our staff, keeping our customers happy and ensuring our business remains robust for the long-term.

Financial Key Performance Indicators

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being revenue, gross margin and net assets.

The accounts for 2025 reported total sales which, at £5.97m, were £0.21m higher than in 2024. This largely reflects the market recovering after the cost-of-living crisis in 2024, which significantly reduced activity levels last year. Despite sales revenue increasing, we have finished the year with profits that were below our 2025 budget.

The level of operating profit by the company during 2025 amounted to £96k, which represents 1.61% of turnover. The healthy level of accumulated reserves and strong liquidity that the company enjoys allows it to continue to invest in the business where necessary.

At the year-end, the company had shareholders' funds of £5.56m, which the Directors consider to be satisfactory given the current and projected trading conditions and continuing need for investment. The Directors are confident that the clear focus on satisfying customer needs through high product quality and customer service will allow the company to maintain its strong financial position.

KPI's £ |  | 2025 |  | 2024 |

Turnover |  | 5,970 |  | 5,769 |

Gross Profit |  | 1,817 |  | 1,330 |

Gross Profit % |  | 30.4% |  | 23.1% |

Profit/(Loss) Before Tax |  | 106 |  | (331) |

Net Profit/(Loss) |  | 48 |  | (289) |

Net Assets |  | 5,559 |  | 5,510 |

PRINCIPAL RISKS AND UNCERTAINTIES

The company manages liquidity risk by ensuring that there are sufficient funds to meet amounts due to trade creditors and loan repayments. Trade debtors are managed in respect of credit and cash flow risk by regular monitoring of amounts outstanding in terms of time and credit limits.

ON BEHALF OF THE BOARD:

Mr R W North - Director

27 July 2026

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025 (2024 - nil).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

Mr L Beck

Mr R W North

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, Mark J Rees LLP Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr R W North - Director

27 July 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

KOCHER & BECK UK LIMITED

Qualified opinion

We have audited the financial statements of Kocher & Beck UK Limited (the 'company') for the year ended 31 December 2025 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 December 2025 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. We were not appointed as auditor of the company until after 31 December 2024 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the opening inventory quantities held at 1 January 2025, which are included in the profit and loss at £334,135, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

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 qualified 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.

Key audit matters

Except for the matter described in the basis for qualified opinion section, we have determined that there are no key audit matters to be communicated in our report

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

KOCHER & BECK UK LIMITED

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.

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

KOCHER & BECK UK LIMITED

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISA's (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and industry in which it operates through our general commercial experience. We determined that the following laws and regulations were most significant: FRS 102, Companies Act 2006 and the relevant tax compliance regulations in the UK. In addition, we concluded that there are certain laws and regulations that may have an effect in the determination of the amounts and disclosures in the financial statements such as health and safety and employee related matters.

We enquired of management concerning the company's policies and procedures relating to:

- the identification and compliance with laws and regulations;

- the detection and response to the risks of fraud;

- the internal controls inherent within the company to mitigate fraud risk and non-compliance to laws and regulations.

We enquired of management, whether they were aware of any instance of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud.

We communicated relevant laws and regulations and potential areas of fraud to all audit team members including the potential for fraud in revenue recognition. We remained alert to any indications of fraud or non compliance with laws and regulations throughout the audit.

We have determined that the principal risk areas where material irregularities could occur were related to posting manual journal entries to manipulate financial performance, revenue recognition, valuation of stock and significant one-off or unusual transactions.

Our audit procedures were designed to respond in particular to these identified risks (including non compliance with laws and regulations and fraud).

Our audit procedures included but were not limited to:

- A review of a sample of stock lines to ensure the valuation of stock is at the lower of cost and net realisable value along with attendance at stocktake to sample the stock count of stock lines.

- A review of a sample of orders received in the year to ensure these were correctly recorded in revenue and detailed cut off testing around the year end to ensure revenue is correctly recognised.

- A review of laws and regulations the company is subject to, followed by compliance checks and discussion with management to ensure no instances of non compliance.

- Identifying and testing journal entries, on a sample basis, to review for potential management bias or manipulation of revenue recognition.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

KOCHER & BECK UK LIMITED

We did not identify any matters during the course of our work that indicated non-compliance with laws and regulations or relating to fraud.

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.

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.

Mrs Ruth Cox ACA BA (Hons) (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

29 July 2026

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 5,970,270 |  | 5,769,463 |  |

Cost of sales | 4,153,494 |  | 4,439,094 |  |

GROSS PROFIT | 1,816,776 |  | 1,330,369 |  |

Administrative expenses | 1,720,759 |  | 1,696,394 |  |

96,017 |  | (366,025 | ) |

Other operating income | - |  | 6,000 |  |

OPERATING PROFIT/(LOSS) | 5 | 96,017 |  | (360,025 | ) |

Interest receivable and similar income | 13,103 |  | 29,503 |  |

109,120 |  | (330,522 | ) |

Interest payable and similar expenses | 7 | 3,248 |  | - |  |

PROFIT/(LOSS) BEFORE TAXATION | 105,872 |  | (330,522 | ) |

Tax on profit/(loss) | 8 | 57,562 |  | (41,678 | ) |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 48,310 |  | (288,844 | ) |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT/(LOSS) FOR THE YEAR | 48,310 |  | (288,844 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 48,310 |  | (288,844 | ) |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 46,367 |  | 66,865 |  |

Tangible assets | 10 | 3,560,350 |  | 3,587,393 |  |

3,606,717 |  | 3,654,258 |  |

CURRENT ASSETS

Stocks | 11 | 533,016 |  | 344,135 |  |

Debtors | 12 | 1,634,902 |  | 1,682,113 |  |

Cash at bank and in hand | 630,408 |  | 575,810 |  |

2,798,326 |  | 2,602,058 |  |

CREDITORS

Amounts falling due within one year | 13 | 749,117 |  | 716,402 |  |

NET CURRENT ASSETS | 2,049,209 |  | 1,885,656 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,655,926 |  | 5,539,914 |  |

CREDITORS

Amounts falling due after more than one year | 14 | 97,341 |  | 29,639 |  |

NET ASSETS | 5,558,585 |  | 5,510,275 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 180,000 |  | 180,000 |  |

Capital redemption reserve | 18 | 20,000 |  | 20,000 |  |

Retained earnings | 18 | 5,358,585 |  | 5,310,275 |  |

SHAREHOLDERS' FUNDS | 5,558,585 |  | 5,510,275 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2026 and were signed on its behalf by:

Mr R W North - Director

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 January 2024 | 180,000 |  | 5,599,119 |  | 20,000 |  | 5,799,119 |  |

Changes in equity

Total comprehensive income | - |  | (288,844 | ) | - |  | (288,844 | ) |

Balance at 31 December 2024 | 180,000 |  | 5,310,275 |  | 20,000 |  | 5,510,275 |  |

Changes in equity

Total comprehensive income | - |  | 48,310 |  | - |  | 48,310 |  |

Balance at 31 December 2025 | 180,000 |  | 5,358,585 |  | 20,000 |  | 5,558,585 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 190,557 |  | (257,543 | ) |

Interest element of hire purchase payments paid | (3,248 | ) | - |  |

Net cash from operating activities | 187,309 |  | (257,543 | ) |

Cash flows from investing activities

Purchase of intangible fixed assets | (1,020 | ) | - |  |

Purchase of tangible fixed assets | (72,455 | ) | (641,434 | ) |

Sale of tangible fixed assets | 558 |  | 103,579 |  |

Interest received | 13,103 |  | 29,503 |  |

Net cash from investing activities | (59,814 | ) | (508,352 | ) |

Cash flows from financing activities

Capital repayments in year | (72,897 | ) | (7,592 | ) |

Net cash from financing activities | (72,897 | ) | (7,592 | ) |

Increase/(decrease) in cash and cash equivalents | 54,598 |  | (773,487 | ) |

Cash and cash equivalents at beginning of year | 2 | 575,810 |  | 1,349,297 |  |

Cash and cash equivalents at end of year | 2 | 630,408 |  | 575,810 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

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

| 2025 |  | 2024

£ | £ |

| Profit/(loss) before taxation | 105,872 |  | (330,522 | ) |

| Depreciation charges | 302,273 |  | 378,270 |  |

| Profit on disposal of fixed assets | (558 | ) | (18,090 | ) |

| Finance costs | 3,248 |  | - |  |

| Finance income | (13,103 | ) | (29,503 | ) |

397,732 |  | 155 |  |

| (Increase)/decrease in stocks | (188,881 | ) | 68,838 |  |

| Decrease/(increase) in trade and other debtors | 31,579 |  | (308,455 | ) |

| Decrease in trade and other creditors | (49,873 | ) | (18,081 | ) |

| Cash generated from operations | 190,557 |  | (257,543 | ) |

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 December 2025

| 31.12.25 |  | 1.1.25

£ | £ |

| Cash and cash equivalents | 630,408 |  | 575,810 |  |

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 575,810 |  | 1,349,297 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| Other |

| non-cash |

| At 1.1.25 | Cash flow | changes | At 31.12.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 575,810 |  | 54,598 |  | 630,408 |  |

575,810 |  | 54,598 |  | 630,408 |  |

| Debt

| Finance leases | (37,922 | ) | 72,897 |  | (190,144 | ) | (155,169 | ) |

(37,922 | ) | 72,897 |  | (190,144 | ) | (155,169 | ) |

| Total | 537,888 |  | 127,495 |  | (190,144 | ) | 475,239 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

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

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Related party exemption

| 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.

| Significant judgements and estimates

| There were no areas in which the preparation of the financial statements required management to make significant judgements or estimates aside from those dealt with separately below.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

| Revenue from the sale of good is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probably will be recovered.

| Intangible fixed assets other than goodwill

| Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

| Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separate from the entity.

| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Development costs - at varying rates on cost

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Freehold property | - | at varying rates on cost

| Plant and machinery | - | 33% on cost, 20% on cost and 10% on cost

| Fixtures and fittings | - | at varying rates on cost

| Motor vehicles | - | 10% on cost

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

| Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell its recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

| 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.

| Research and development expenditure

| Expenditure on research and development is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

| 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.

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

| lease.

| 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.

| Financial instruments

| A financial asset held as an equity instrument is recognised initially at the transaction price, including transaction costs.

| At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset, including sales proceeds if sold, at the balance sheet date.

| Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument.

| Debtors

| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Creditors

| Short term trade 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.

| Going concern

| After reviewing the company's management information and order books, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

3. | TURNOVER

| The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the company.

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

| 2025 |  | 2024

£ | £ |

| United Kingdom | 4,479,682 |  | 4,276,409 |  |

| Non-UK | 1,490,588 |  | 1,493,054 |  |

5,970,270 |  | 5,769,463 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,476,279 |  | 2,443,942 |  |

| Social security costs | 271,849 |  | 235,145 |  |

| Other pension costs | 150,173 |  | 141,770 |  |

2,898,301 |  | 2,820,857 |  |

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

| 2025 |  | 2024

| UK Directors | 1 |  | 1 |  |

| Overseas Directors | 1 |  | 1 |  |

| Other employees | 69 |  | 67 |  |

71 |  | 69 |  |

| The number of directors for whom retirement benefits are accruing under defined contribution schemes

| amounted to 1 (2024 - 1).

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 71,777 |  | 71,287 |  |

5. | OPERATING PROFIT/(LOSS)

| The operating profit (2024 - operating loss) is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 6,701 |  | 4,343 |  |

| Depreciation - owned assets | 289,642 |  | 352,719 |  |

| Profit on disposal of fixed assets | (558 | ) | (18,090 | ) |

| Development costs amortisation | 21,518 |  | 25,551 |  |

| Foreign exchange differences | 198 |  | 75 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

6. | AUDITORS' REMUNERATION

| 2025 |  | 2024

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 22,500 |  | - |  |

| Total audit fees | 22,500 |  | - |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Hire purchase interest | 3,248 |  | - |  |

8. | TAXATION

| Analysis of the tax charge/(credit)

| The tax charge/(credit) on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Deferred taxation | 57,562 |  | (41,678 | ) |

| Tax on profit/(loss) | 57,562 |  | (41,678 | ) |

| Reconciliation of total tax charge/(credit) included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit/(loss) before tax | 105,872 |  | (330,522 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 26,468 |  | (82,631 | ) |

| Effects of:

| Expenses not deductible for tax purposes | (557 | ) | (9,181 | ) |

| Depreciation in excess of capital allowances | 31,651 |  | 50,134 |  |

| forward |

| Total tax charge/(credit) | 57,562 |  | (41,678 | ) |

| FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

| The company has unrelieved taxable trading losses carried forward at the balance sheet date of £2,391,484 (2024: £2,552,832), available to offset against future trading profits. The asset that would arise in respect of these, amounting to £597,871 (2024: £638,208) (calculated at 25%) has been recognised, as it is considered probable that the amount will be recovered.

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

9. | INTANGIBLE FIXED ASSETS

| Development

| costs

£ |

| COST

| At 1 January 2025 | 382,468 |  |

| Additions | 1,020 |  |

| At 31 December 2025 | 383,488 |  |

| AMORTISATION

| At 1 January 2025 | 315,603 |  |

| Amortisation for year | 21,518 |  |

| At 31 December 2025 | 337,121 |  |

| NET BOOK VALUE

| At 31 December 2025 | 46,367 |  |

| At 31 December 2024 | 66,865 |  |

10. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2025 | 3,791,187 |  | 5,031,551 |  | 469,721 |  | 55,300 |  | 9,347,759 |  |

| Additions | - |  | 177,001 |  | 12,543 |  | 73,055 |  | 262,599 |  |

| Disposals | - |  | (178,263 | ) | - |  | - |  | (178,263 | ) |

| At 31 December 2025 | 3,791,187 |  | 5,030,289 |  | 482,264 |  | 128,355 |  | 9,432,095 |  |

| DEPRECIATION

| At 1 January 2025 | 1,450,823 |  | 3,865,270 |  | 432,489 |  | 11,784 |  | 5,760,366 |  |

| Charge for year | 125,644 |  | 130,625 |  | 15,789 |  | 17,584 |  | 289,642 |  |

| Eliminated on disposal | - |  | (178,263 | ) | - |  | - |  | (178,263 | ) |

| At 31 December 2025 | 1,576,467 |  | 3,817,632 |  | 448,278 |  | 29,368 |  | 5,871,745 |  |

| NET BOOK VALUE

| At 31 December 2025 | 2,214,720 |  | 1,212,657 |  | 33,986 |  | 98,987 |  | 3,560,350 |  |

| At 31 December 2024 | 2,340,364 |  | 1,166,281 |  | 37,232 |  | 43,516 |  | 3,587,393 |  |

| Included in cost of land and buildings is freehold land of £ 205,000 (2024 - £ 205,000 ) which is not depreciated.

11. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 533,016 |  | 344,135 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 1,200,143 |  | 1,088,384 |  |

| Bad debt provision | (18,673 | ) | (19,201 | ) |

| Amounts owed by group undertakings | 21,966 |  | 134,473 |  |

| Other debtors | 75 |  | - |  |

| Deferred tax asset | 313,961 |  | 371,523 |  |

| Prepayments and accrued income | 117,430 |  | 106,934 |  |

1,634,902 |  | 1,682,113 |  |

| Deferred tax asset

2025 | 2024 |

£ | £ |

| Accelerated capital allowances | (283,910 | ) | (266,685 | ) |

| Tax losses carried forward | 597,871 |  | 638,208 |  |

313,961 |  | 371,523 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 15) | 57,828 |  | 8,283 |  |

| Trade creditors | 198,120 |  | 303,849 |  |

| Amounts owed to group undertakings | 142,720 |  | 82,702 |  |

| Paye/Ni payable | 84,806 |  | 70,755 |  |

| VAT | 151,574 |  | 123,339 |  |

| Accruals and deferred income | 114,069 |  | 127,474 |  |

749,117 |  | 716,402 |  |

14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 15) | 97,341 |  | 29,639 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

15. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 57,828 |  | 8,283 |  |

| Between one and five years | 97,341 |  | 29,639 |  |

155,169 |  | 37,922 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 41,377 |  | 47,893 |  |

| Between one and five years | 33,085 |  | 47,956 |  |

74,462 |  | 95,849 |  |

16. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 155,169 |  | 37,922 |  |

| Amounts due under hire purchase contracts are secured on the assets financed.

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 180,000 | Ordinary | £1 | 180,000 |  | 180,000 |  |

18. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 January 2025 | 5,310,275 |  | 20,000 |  | 5,330,275 |  |

| Profit for the year | 48,310 |  | 48,310 |  |

| At 31 December 2025 | 5,358,585 |  | 20,000 |  | 5,378,585 |  |

KOCHER & BECK UK LIMITED (REGISTERED NUMBER: 02878477)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

19. | PENSION COMMITMENTS

| The company operates a defined contribution personal pension scheme for all qualifying employees. The scheme and its assets are held separately from those of the company in an independently administered fund. The charge for the year was £153,065 (2024: £144,644). At the year end, pension contributions outstanding amounted to £834 (2024: nil).

20. | ULTIMATE PARENT COMPANY

| The immediate and ultimate parent company is Kocher + Beck GmbH & Co. Rotationstanztechnik KG which is incorporated in Germany.

21. | RELATED PARTY DISCLOSURES

| During the year, a total of key management personnel compensation of £ 520,277 (2024 - £ 499,718 ) was paid.

| The company considers key management personnel to comprise the directors together with certain members of senior management, including the company secretary, a group director and senior managers responsible for IT, sales and operations. The remuneration of directors is disclosed in Note 4.

22. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Mr L Beck.