Company registration number 16258827 (England and Wales)
BERGMAN & BEVING INVEST LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
BERGMAN & BEVING INVEST LTD
COMPANY INFORMATION
Directors
L P G Schon
(Appointed 18 February 2025)
M E Billfalk
(Appointed 17 September 2025)
Company number
16258827
Registered office
Chilcompton Green Lane
Aspley Guise
Milton Keynes
England
MK17 8EN
Auditor
TC Audit Limited
Suite 501
The Nexus Building
Broadway
Letchworth Garden City
Herts
SG6 3TA
BERGMAN & BEVING INVEST LTD
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Profit and loss account
6
Balance sheet
7
Notes to the financial statements
8 - 12
BERGMAN & BEVING INVEST LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2026
- 1 -

The directors present their annual report and financial statements for the period ended 31 March 2026.

The company was incorporated on 18 February 2025 and its activities since that date have been those of a holding company.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

L P G Schon
(Appointed 18 February 2025)
M E Billfalk
(Appointed 17 September 2025)
M E L Markgren
(Appointed 18 February 2025 and resigned 11 September 2025)
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
L P G Schon
Director
14 July 2026
BERGMAN & BEVING INVEST LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 MARCH 2026
- 2 -

The directors are responsible for preparing the annual 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 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; and

- 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.

BERGMAN & BEVING INVEST LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BERGMAN & BEVING INVEST LTD
- 3 -
Opinion

We have audited the financial statements of Bergman & Beving Invest Ltd (the 'company') for the period ended 31 March 2026 which comprise the profit and loss account, the balance sheet and notes to the financial statements, including 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 loss for the period 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 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.

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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 course of 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 our audit:

- the information given in the directors' r eport for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

BERGMAN & BEVING INVEST LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BERGMAN & BEVING INVEST LTD (CONTINUED)
- 4 -
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 identifie d material misstatements in the directors' r eport. 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; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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.

Auditor's 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.

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

Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the carrying value of fixed asset investments, the fair value of consideration paid for the fixed asset investments and going concern.

Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, sensitivity analysis on key assumptions, critical review of accounting estimates, enquiries of management, and evaluating whether there was evidence of bias by the Directors that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

BERGMAN & BEVING INVEST LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BERGMAN & BEVING INVEST LTD (CONTINUED)
- 5 -

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.

James Price FCA (Senior Statutory Auditor)
For and on behalf of TC Audit Limited, Statutory Auditor
Chartered Accountants
Suite 501
The Nexus Building
Broadway
Letchworth Garden City
Herts
SG6 3TA
29 July 2026
BERGMAN & BEVING INVEST LTD
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 MARCH 2026
- 6 -
Period ended
31 March
2026
Notes
£
Turnover
-
Administrative expenses
(31,586)
Operating loss
(31,586)
Interest receivable and similar income
21
Interest payable and similar expenses
4
(2,029,824)
Loss before taxation
(2,061,389)
Tax on loss
-
0
Loss for the financial period
(2,061,389)
BERGMAN & BEVING INVEST LTD
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 7 -
2026
Notes
£
£
Fixed assets
Investments
5
74,420,620
Current assets
-
Creditors: amounts falling due within one year
7
(7,869,377)
Net current liabilities
(7,869,377)
Total assets less current liabilities
66,551,243
Creditors: amounts falling due after more than one year
8
(55,611,632)
Net assets
10,939,611
Capital and reserves
Called up share capital
1,000
Other reserves
13,000,000
Profit and loss reserves
(2,061,389)
Total equity
10,939,611

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 July 2026 and are signed on its behalf by:
L P G Schon
Director
Company registration number 16258827 (England and Wales)
BERGMAN & BEVING INVEST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
- 8 -
1
Accounting policies
Company information

Bergman & Beving Invest Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Chilcompton Green Lane, Aspley Guise, Milton Keynes, England, MK17 8EN.

1.1
Reporting period

These financial statements are presented for a period longer than one year,

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, (modified to include the revaluation of certain financial instruments at fair value where appropriate). The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 40 1 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Bergman & Beving Invest Ltd is a wholly owned subsidiary of Bergman & Beving AB and the results of Bergman & Beving Invest Ltd and its subsidiaries are included in the consolidated financial statements of Bergman & Beving AB which are available from the company's website.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

In making this assessment the directors are mindful that the company is wholly reliant on the continuing provision of finance facilities from its parent company, Bergman & Beving AB, and have satisfied themselves as to the willingness and capacity of the parent company to continue to provide the funds required for the company to meet its debts as they fall due for a period of at least 12 months from the date of approval of these financial statements. The directors have obtained specific confirmation from the parent company that certain financial covenants (which would otherwise be breached) associated with the current finance facilities are not considered to be applicable and will not be enforced.

1.4
Revenue

As the company is a holding company and not a trading company, and is not active in the management of its subsidiary companies, it does not generate revenue from any sources.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

BERGMAN & BEVING INVEST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 9 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 the recognised 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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

BERGMAN & BEVING INVEST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 10 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
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 liabilities 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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Carrying value of fixed asset investments

Whilst the fixed asset investments are all in the early stages of ownership by the company, the performance and position of the subsidiaries are subject to regular monitoring, and management do not consider there to be any current indicators of impairment.

Deferred consideration

The company's various acquisition agreements include consideration that is deferred and contingent on future performance - these "earn out" elements of the consideration were valued at the date of acquisition, and management regularly monitor the performance of the subsidiaries to determine if, and to what extent, this element of consideration should be subject to a change in value.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2026
Number
Total
2
BERGMAN & BEVING INVEST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 11 -
4
Interest payable and similar expenses
2026
£
Interest payable and similar expenses includes the following:
Interest payable to group undertakings
1,894,090
5
Fixed asset investments
2026
£
Shares in group undertakings and participating interests
74,420,620
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 18 February 2025
-
Additions
74,420,620
At 31 March 2026
74,420,620
Carrying amount
At 31 March 2026
74,420,620
6
Subsidiaries

Details of the company's subsidiaries at 31 March 2026 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Raintite Trading Limited
England & Wales
Ordinary
97.00
-
HC Coils TopCo Limited
England & Wales
Ordinary
100.00
-
HC Coils Limited
England & Wales
Ordinary
0
100.00
Modus Gauges Limited
England & Wales
Ordinary
100.00
-
Test Plugs Limited
England & Wales
Ordinary
0
100.00
Datalase Holdings Limited
England & Wales
Ordinary
90.00
-
Datalase Limited
England & Wales
Ordinary
0
90.00
A1 Shutters Limited
England & Wales
Ordinary
100.00
-
BERGMAN & BEVING INVEST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 12 -
7
Creditors: amounts falling due within one year
2026
£
Trade creditors
4,601
Amounts owed to group undertakings
6,894,423
Other creditors
970,353
7,869,377
8
Creditors: amounts falling due after more than one year
2026
£
Other creditors
55,611,632
9
Loans and overdrafts
2026
£
Loans from group undertakings and related parties
46,939,632
Payable after one year
46,939,632

The loan from the parent company is unsecured and is due for repayment on 31 March 2031. Interest is charged at prevailing market rates.

10
Events after the reporting date

Following the balance sheet date, management determined that they had reached an evidential threshold in respect of the likely future performance of one of the investments made in the period such that an adjustment (a reduction of £400,000) has been made to the expected deferred consideration to be paid to the vendors.

11
Related party transactions

The company is part of a wider group cash pool facility. The borrowings which would otherwise be presented as in connection with a bank overdraft are instead shown as an amount due to the parent company, the balance at the period end being a creditor of £6,894,423.

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