REGISTERED NUMBER: 07127079 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2025

for

System Seals Europe Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Hensey

REGISTERED OFFICE:

Carlton House

High Street

Higham Ferrers

Northamptonshire

NN10 8BW

BUSINESS ADDRESS:

Unit 2A, Barnstones Business Park

Grimscote Road

Litchborough

Towcester

Northamptonshire

NN12 8JJ

REGISTERED NUMBER:

07127079 (England and Wales)

AUDITORS:

Willsons (Higham Ferrers) Ltd

Chartered Accountants

Statutory Auditors

Carlton House

High Street

Higham Ferrers

Northamptonshire

NN10 8BW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,914

5,398

3,914

5,398

CURRENT ASSETS

Stocks

2,656

4,801

Debtors

6

72,487

121,062

Cash at bank

56,808

52,624

131,951

178,487

CREDITORS

Amounts falling due within one year

7

90,442

89,730

NET CURRENT ASSETS

41,509

88,757

TOTAL ASSETS LESS CURRENT LIABILITIES

45,423

94,155

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

8

45,419

94,151

SHAREHOLDERS' FUNDS

45,423

94,155

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 July 2026 and were signed by:

S Hensey - Director

1.	STATUTORY INFORMATION

System Seals Europe Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Going concern

The directors having made enquiries of the group, and the company's forecasts and projections, taking account of reasonably possible changes to trading performance show that the company should be able to operate within the level of its current resources.

On this basis the directors believe that the company will have adequate resources to continue in operational existence and meet its obligations as they fall due for a period of at least twelve months from the date of signing the financial statements. Therefore, the directors consider it appropriate to continue to prepare the financial statements as a going concern.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the period.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

15% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

30,000

AMORTISATION

At 1 January 2025

and 31 December 2025

30,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2025

and 31 December 2025

3,394

2,733

12,659

18,786

DEPRECIATION

At 1 January 2025

3,155

2,158

8,075

13,388

Charge for year

102

224

1,158

1,484

At 31 December 2025

3,257

2,382

9,233

14,872

NET BOOK VALUE

At 31 December 2025

137

351

3,426

3,914

At 31 December 2024

239

575

4,584

5,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

53,107

42,399

Amounts owed by group undertakings

15,573

67,079

Other debtors

500

9,629

Directors' current accounts

-

198

Prepayments

3,307

1,757

72,487

121,062

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

10,177

19,390

Amounts owed to group undertakings

12,841

5,208

Social security and other taxes

5,368

4,520

VAT

1,938

3,633

Other creditors

285

4,477

Pension creditor

2,152

2,152

Accrued expenses

57,681

50,350

90,442

89,730

8.

RESERVES

Retained

earnings

£

At 1 January 2025

94,151

Deficit for the year

(48,732

)

At 31 December 2025

45,419

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

The Report of the Auditors was unqualified.

Craig Baird FCA (Senior Statutory Auditor)

for and on behalf of Willsons (Higham Ferrers) Ltd

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

31.12.25

31.12.24

£

£

S Hensey

Balance outstanding at start of year

198

38

Amounts advanced

-

198

Amounts repaid

(198

)

(38

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

198

11.	RELATED PARTY DISCLOSURES

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

12.	PARENT UNDERTAKING

The Company's immediate parent is L&A International LLC incorporated in the United States of America.