Company registration number 01617754 (England and Wales)
MICHAEL WEINIG (UK) LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
MICHAEL WEINIG (UK) LTD
COMPANY INFORMATION
Directors
G Baumbusch
M S Cuthbertson
Secretary
P James
Company number
01617754
Registered office
5 Blacklands Way
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1DY
Auditor
Gravita Audit Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Bankers
Barclays Bank PLC
1 Churchill Place
London
E14 1QE
MICHAEL WEINIG (UK) LTD
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 25
MICHAEL WEINIG (UK) LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Review of the business

Lack of predictability was the main feature of 2025 due to worldwide economic uncertainty which held back investment decisions. Despite this environment the company recorded turnover of £15.799m (2024: £17.281m) and a pre-tax profit of £864k (2024: £1.677m).

The strength of the brand Weinig representing quality, high performing products carries value. This is recognised by many long term and new customers who spend wisely when investing rather than buying on price alone. The expertise and knowledge of our employees ensures this will remain the case.

Solid wood processing machinery and panel processing machinery performed well and both contributed positively to the financial result. The wide product range across both sectors maximised opportunities and met the demands of the market. Product development continues to ensure that our product range continues to match the needs of our UK and Irish customers. The expansion of the Weinig Group with the acquisition of HIT and the partnership with Essetre has opened doors for us in new sectors with promising results to date.

The service and parts side of our business and the expanding team of Field Service Engineers have contributed to another strong year making a good contribution to the financial result of the company. Internal and external training remains an important part of our activities which is seen as investing in our and our customer’s future success.

Once again the employees of the company have performed with dedication and commitment during the year. The success of the company is built on the quality of its employees and teamwork which shone through. I take this opportunity to publicly thank each and every one of the team for their efforts to deliver customer satisfaction in everything we d o.

Principal risks and uncertainties

Credit risk

The company has implemented policies that require each customer to have a credit limit. These are regularly reviewed by the finance department to ensure that they are appropriate to the trading level of the customer and also to minimise the exposure to credit risk.

Foreign exchange risk

The group trades internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to the Euro. Foreign exchange risk arises from commercial transactions and recognised assets and liabilities in foreign currencies. To minimise this risk, the company manages the timing of payments to the parent company in Germany which are Euro denominated. Given the size of the company’s operations, the cost of formally managing foreign exchange risk exceeds any potential benefits.

On behalf of the board

M S Cuthbertson
Director
19 August 2026
MICHAEL WEINIG (UK) LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company is the marketing, sales and service of woodworking machinery and associated equipment.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

G Baumbusch
M S Cuthbertson
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.

Director's liabilities

The company does not have any qualifying third party or pensions indemnity provisions in place either during the year or since the year end.

On behalf of the board
M S Cuthbertson
Director
19 August 2026
MICHAEL WEINIG (UK) LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

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.

MICHAEL WEINIG (UK) LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MICHAEL WEINIG (UK) LTD
- 4 -
Opinion

We have audited the financial statements of Michael Weinig (UK) Ltd (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity 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 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 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 strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

MICHAEL WEINIG (UK) LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MICHAEL WEINIG (UK) LTD (CONTINUED)
- 5 -
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 strategic report or 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.

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:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where applicable; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

MICHAEL WEINIG (UK) LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MICHAEL WEINIG (UK) LTD (CONTINUED)
- 6 -

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims;

- reviewing relevant correspondence.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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.

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.

Katherine Wilkes BSc FCA (Senior Statutory Auditor)
For and on behalf of Gravita Audit Oxford LLP, Statutory Auditor
Chartered Accountants
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
20 August 2026
MICHAEL WEINIG (UK) LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
15,798,570
17,281,136
Cost of sales
(11,586,519)
(12,365,609)
Gross profit
4,212,051
4,915,527
Administrative expenses
(3,609,521)
(3,455,503)
Other operating income
7,827
26,332
Operating profit
3
610,357
1,486,356
Interest receivable and similar income
6
228,588
226,060
Interest payable and similar expenses
7
25,407
(34,925)
Profit before taxation
864,352
1,677,491
Tax on profit
9
(172,279)
(448,284)
Profit for the financial year
692,073
1,229,207

The profit and loss account has been prepared on the basis that all operations are continuing operations.

MICHAEL WEINIG (UK) LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
£
£
Profit for the year
692,073
1,229,207
Other comprehensive income
Actuarial gain/(loss) on defined benefit pension schemes
-
0
(102,250)
Total comprehensive income for the year
692,073
1,126,957
MICHAEL WEINIG (UK) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
941,411
1,119,737
Current assets
Stocks
12
3,175,106
1,954,008
Debtors
13
5,512,584
4,540,883
Cash at bank and in hand
1,628,095
1,373,235
10,315,785
7,868,126
Creditors: amounts falling due within one year
14
(5,860,605)
(4,317,493)
Net current assets
4,455,180
3,550,633
Total assets less current liabilities
5,396,591
4,670,370
Provisions for liabilities
Provisions
16
40,000
40,000
Deferred tax liability
15
117,061
82,913
(157,061)
(122,913)
Net assets excluding pension liability
5,239,530
4,547,457
Defined benefit pension liability
18
-
0
-
0
Net assets
5,239,530
4,547,457
Capital and reserves
Called up share capital
17
100,000
100,000
Profit and loss reserves
5,139,530
4,447,457
Total equity
5,239,530
4,547,457
The financial statements were approved by the board of directors and authorised for issue on 19 August 2026 and are signed on its behalf by:
M S Cuthbertson
Director
Company registration number 01617754 (England and Wales)
MICHAEL WEINIG (UK) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
100,000
5,854,498
5,954,498
Year ended 31 December 2024:
Profit
-
1,229,207
1,229,207
Other comprehensive income:
Actuarial gains on defined benefit plans
-
(102,250)
(102,250)
Total comprehensive income
-
1,126,957
1,126,957
Dividends
10
-
(2,533,998)
(2,533,998)
Balance at 31 December 2024
100,000
4,447,457
4,547,457
Year ended 31 December 2025:
Profit and total comprehensive income
-
692,073
692,073
Balance at 31 December 2025
100,000
5,139,530
5,239,530
MICHAEL WEINIG (UK) LTD
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
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.

The directors consider the most significant estimates to be the valuation and measurement of obligations under the Defined Benefit pension scheme, the depreciation charged on tangible fixed assets and the provision made against spares and tooling stock.

Retirement benefits

See Note 18 on Retirement benefit schemes for further detail on the measurement of pension scheme obligations.

Depreciation

The accounting policies detailed in the notes to the accounts describe the policies adopted for calculating depreciation. These have been based on the assessed useful economic lives of the assets capitalised and charged accordingly, resulting in a current year charge of £360,502 (2024: £337,251).

Stock provision

The stock provision of £168,591 (2024: £196,684) has been estimated based on the date of last sale, with the directors considering that the pattern of previous sales are a strong indication of future sales. As such, a calculation is produced to devalue stock based on the date last sold to ensure stock is stated at the lower of cost and net realisable value.

MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
2
Accounting policies
Company information

Michael Weinig (UK) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5 Blacklands Way, Abingdon Business Park, Abingdon, Oxfordshire, OX14 1DY.

2.1
Accounting convention

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.

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. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Weinig International AG. These consolidated financial statements are available from its registered office,Weinigstrasse 2/4, D-97941, Tauberbischofsheim, Germany.

2.2
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.

2.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 13 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, 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.

Machine stock is recognised either when the risks are transferred according to the agreed delivery terms, when the machine has been successfully started up at the customer’s premises, or when final acceptance is confirmed at the customer’s premises.

2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Buildings
10% straight line
Fixtures and fittings
20% - 33.3% straight line
Motor vehicles
25% straight line
Specialised equipment
12.5% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises 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.

MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 14 -

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 is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.7
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.

2.8
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 15 -
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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2.9
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.

2.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 16 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

2.12
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.

2.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.14
Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

2.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of tangible fixed assets
360,502
337,251
Profit on disposal of tangible fixed assets
(11,341)
(2,285)
Impairment of stocks recognised or reversed
(23,093)
36,319
Operating lease charges
184,857
198,032
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
24,000
22,200
5
Employees

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

2025
2024
Number
Number
Sales and administration
19
17
Warehouse and engineering
22
22
Total
41
39

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,972,921
1,932,763
Social security costs
295,217
246,143
Other short-term employee benefits
55,293
49,727
Pension costs, defined contribution scheme
208,476
173,578
Other post-employment benefit costs
-
100,000
FRS 102 defined benefit pension costs and valuation adjustments
-
(84,244)
2,531,907
2,417,967
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
228,588
226,060
7
Interest payable and similar expenses
2025
2024
£
£
Net interest on the net defined benefit liability
-
0
(2,250)
Exchange differences
(25,407)
36,107
Other interest
-
0
1,068
(25,407)
34,925
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
8
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
148,892
156,651
Director's NIC (Employers)
21,133
20,362
Company pension contributions to defined contribution schemes
16,150
15,756
186,175
192,769

The number of directors for whom retirement benefits are accruing totalled 1 (2024:1).

9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
165,534
440,718
Adjustments in respect of prior periods
(27,403)
(21,422)
Total current tax
138,131
419,296
Deferred tax
Origination and reversal of timing differences
34,148
20,148
Adjustment in respect of prior periods
-
0
8,840
Total deferred tax
34,148
28,988
Total tax charge
172,279
448,284

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
864,352
1,677,491
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
216,088
419,373
Tax effect of expenses that are not deductible in determining taxable profit
(85,192)
4,229
Change in unrecognised deferred tax assets
68,786
37,265
Adjustments in respect of prior years
(27,403)
(12,583)
Taxation charge for the year
172,279
448,284
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
10
Dividends
2025
2024
£
£
Final paid
-
0
2,533,998
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
11
Tangible fixed assets
Land and buildings
Fixtures and fittings
Motor vehicles
Specialised equipment
Total
£
£
£
£
£
Cost
At 1 January 2025
175,266
241,784
433,084
1,581,648
2,431,782
Additions
-
0
574
149,667
617,942
768,183
Disposals
-
0
-
0
(51,000)
(872,356)
(923,356)
At 31 December 2025
175,266
242,358
531,751
1,327,234
2,276,609
Depreciation and impairment
At 1 January 2025
136,817
229,539
269,131
676,558
1,312,045
Depreciation charged in the year
11,400
4,647
95,615
248,840
360,502
Eliminated in respect of disposals
-
0
-
0
(51,000)
(286,349)
(337,349)
At 31 December 2025
148,217
234,186
313,746
639,049
1,335,198
Carrying amount
At 31 December 2025
27,049
8,172
218,005
688,185
941,411
At 31 December 2024
38,449
12,245
163,953
905,090
1,119,737
12
Stocks
2025
2024
£
£
Finished goods and goods for resale
3,175,106
1,954,008
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
969,434
1,064,442
Corporation tax recoverable
125,908
-
0
Amounts owed by group undertakings
4,276,367
3,318,889
Other debtors
270
-
0
Prepayments and accrued income
140,605
157,552
5,512,584
4,540,883
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
14
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
763,599
1,216,488
Amounts owed to group undertakings
826,920
1,190,035
Corporation tax
-
0
45,610
Other taxation and social security
273,894
296,603
Other creditors
3,862,993
1,416,959
Accruals and deferred income
133,199
151,798
5,860,605
4,317,493
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company not related to the defined benefit pension scheme and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
117,061
82,913
2025
Movements in the year:
£
Liability at 1 January 2025
82,913
Charge to profit or loss
34,148
Liability at 31 December 2025
117,061

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

16
Provisions for liabilities
2025
2024
£
£
Dilapidations provision
40,000
40,000
Movements on dilapidation provisions:
Dilapidations provision
£
At 1 January 2025 and 31 December 2025
40,000
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
208,476
189,334

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Defined benefit schemes

The company operates a defined benefit scheme in the United Kingdom, with assets held in a separately administered fund. The scheme provides retirement benefits on the basis of members’ final salary. The company closed its defined benefit pension plan to future accruals effective 31 December 2021. All employees are now included in the defined contributions scheme from 1 January 2022 unless they decided to opt out.

Valuation

A full actuarial valuation using the projected unit method was carried out at 1 January 20 23 and updated to 31 December 202 5 by a qualified actuary, Quantum Advisory Limited. The valuation at 31 December 20 25 showed the pension benefit asset increased by £39,283 (20 24: £286,766 asset increase). A fter the application of an asset ceiling (see below), as at the balance sheet date the net defined benefit asset totalled £Nil (20 24: £Nil).

The trustees confirmed no plans have been made to reduce contributions or provide refunds and as such a calculated surplus of £1,037,111 has been capped and no asset has been recognised. As a result, there was no overall actuarial loss recognised in the year on the scheme (2024: £102,250 loss).

2025
2024
Key assumptions
%
%
Discount rate
5.3
5.4
Inflation - CPI
2.7
2.8
Mortality rate
1
1
Mortality assumptions
2025
2024

Assumed life expectations on retirement at age 65:

Years
Years
Retiring today
- Males
86.9
21.9
- Females
89.4
24.3
Retiring in the future
- Males
88.0
22.9
- Females
90.5
25.4
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
18
Retirement benefit schemes
(Continued)
- 23 -
2025
2024

Amounts recognised in the profit and loss account

£
£
Net interest on net defined benefit liability/(asset)
-
(2,250)
2025
2024

Amounts taken to other comprehensive income

£
£
Actual return on scheme assets
(269,248)
265,728
Less: calculated interest element
257,979
242,732
Return on scheme assets excluding interest income
(11,269)
508,460
Actuarial changes related to obligations
25,868
(660,978)
Total (income)/costs
14,599
(152,518)

The amounts included in the balance sheet arising from the company's obligations in respect of defined benefit plans are as follows:

2025
2024
£
£
Present value of defined benefit obligations
4,984,456
4,854,175
Fair value of plan assets
(4,984,456)
(4,854,175)
Deficit in scheme
-
-
2025

Movements in the present value of defined benefit obligations

£
Liabilities at 1 January 2025
4,854,175
Benefits paid
(153,566)
Actuarial gains and losses
25,868
Interest cost
257,979
At 31 December 2025
4,984,456
2025

The defined benefit obligations arise from plans funded as follows:

£
Wholly unfunded obligations
-
Wholly or partly funded obligations
4,984,456
4,984,456
MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
18
Retirement benefit schemes
(Continued)
- 24 -
2025

Movements in the fair value of plan assets

£
Fair value of assets at 1 January 2025
4,854,175
Interest income
257,979
Return on plan assets (excluding amounts included in net interest)
11,269
Benefits paid
(153,566)
Other - movement on asset ceiling
14,599
At 31 December 2025
4,984,456

The actual return on plan assets was £269,248 (2024 - £265,728).

2025
2024

Fair value of plan assets at the reporting period end

£
£
Cashflow driven investments
521,163
657,855
Government bonds
1,751,643
1,369,500
Cash and cash equivalents
1,516,309
1,064,963
Private equity
709,591
830,971
Absolute return
715,292
1,106,178
Liability driven investments
807,569
822,536
Cumulative adjustment relating to asset ceiling
(1,037,111)
(997,828)
4,984,456
4,854,175
19
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
172,179
185,385
Years 2-5
60,449
232,628
232,628
418,013
20
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

MICHAEL WEINIG (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20
Related party transactions
(Continued)
- 25 -
Purchases
Purchases
2025
2024
£
£
Essetre s.r.l
235,117
-
2025
2024
Amounts due to related parties
£
£
Essetre s.r.l
7,837
-
Other information

Essetre s.r.l. is a connected company. Transactions in the year relate to the purchasing of machines and spares parts. No special terms are attached to these sales.

21
Ultimate controlling party

The company's immediate parent is Michael Weinig AG, incorporated in Germany,

The ultimate parent is Weinig International AG, incorporated in Germany.

The most senior parent entity producing publicly available financial statements is Weinig International AG. These financial statements are available upon request from Weinigstrasse 2/4, D-97941, Tauberbischofsheim, Germany.

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