MDC Max Daetwyler U.K. Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

MDC Max Daetwyler U.K. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01619856 . The registered office is Unit 2 The Old Estate Yard High Street, East Hendred, Wantage, Oxfordshire, OX12 8JY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The company has taken advantage of the exemption under section 400 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.

MDC Max Daetwyler UK Limited is a wholly owned subsidery of Heliograph Holding GmbH and the results of MDC Max Daetwyler UK Limited are included in the consolidated financial statements of Heliograph GmbH which are available from Konrad-Zuse-Bogen 18D-82152 Krailing.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover represents amounts receivable in respect of the sale of printing equipment and consumables net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the 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.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	over the life of the lease
Plant & Machinery	10% straight line
Computer Equipment	33.33% straight line

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MDC Max Daetwyler U.K. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

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MDC Max Daetwyler U.K. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 3)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	4,785	82,742	2,785	90,312
Additions	1,895	1,023	-	2,918
Disposals	-	(20,460 )	-	(20,460 )

As at 31 December 2025	6,680	63,305	2,785	72,770

Depreciation
As at 1 January 2025	216	69,252	1,450	70,918
Provided during the period	2,069	3,124	438	5,631
Disposals	-	(16,747 )	-	(16,747 )

As at 31 December 2025	2,285	55,629	1,888	59,802

Net Book Value
As at 31 December 2025	4,395	7,676	897	12,968

As at 1 January 2025	4,569	13,490	1,335	19,394

5. Stocks

	2025	2024
	£	£
Stock	380,615	340,222
Stock provision	(170,175 )	(170,175 )

	210,440	170,047

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	149,603	207,426
Prepayments and accrued income	7,065	10,759
VAT	-	9,685

	156,668	227,870

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MDC Max Daetwyler U.K. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	143,792	214,317
Other taxes and social security	2,516	4,180
VAT	30,829	-
Other creditors	5,037	2,582
Pension creditor	875	1,083
Accruals and deferred income	33,904	12,780

	216,953	234,942

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	21,950	14,000
Later than one year and not later than five years	27,568	25,667

	49,518	39,667

10. Related Party Transactions

The company has taken advantage of the exemption within FRS102 section 33.1A and not disclosed transactions with other 100% owned group entities.

11. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Heliograph Holdings GmbH . Heliograph Holdings GmbH was incorporated in Germany. Copies of the group accounts may be obtained from the secretary, Konrad-Zuse-Bogen 18, D-82152 Krailing, Germany . The ultimate controlling party is Heliograph Holdings GmbH who controls 100% of the shares of MDC Max Daetwyler U.K. Limited .

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MDC Max Daetwyler U.K. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

12. Audit Information

The auditor's report on the accounts of MDC Max Daetwyler U.K. Limited for the year ended 31 December 2025 was qualified.

The basis of qualification in the auditor's report was as follows:

The corresponding figures and comparative financial statements in the current year were derived from the financial statements for the year ended 31 December 2024, for which there was a qualified audit opinion. For the year ended 31 December 2024, we were unable to collect sufficient appropriate audit evidence regarding stock transactions being recorded in the correct accounting period. Consequently, we were unable to determine whether any adjustments to closing stock were necessary at 31 December 2024.

Our audit opinion of the financial statements for the year ended 31 December 2025 is therefore qualified solely due to the possible effects of this matter.

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 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.

The matters required to report by exception are stated below:

The auditor's report was signed by Dean Blunden BFP FCA (Senior Statutory Auditor) for and on behalf of UHY Ross Brooke , Statutory Auditor.

UHY Ross Brooke

Chartered Accountants and Registered Auditors

2 Old Bath Road

Newbury

Berkshire

RG14 1QL

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		12,968		19,394

			12,968		19,394
CURRENT ASSETS
Stocks	5	210,440		170,047
Debtors	6	156,668		227,870
Cash at bank and in hand		128,411		114,912

		495,519		512,829
Creditors: Amounts Falling Due Within One Year	7	(216,953 )		(234,942 )

NET CURRENT ASSETS (LIABILITIES)			278,566		277,887

TOTAL ASSETS LESS CURRENT LIABILITIES			291,534		297,281

NET ASSETS			291,534		297,281

CAPITAL AND RESERVES
Called up share capital	8		100		100
Income Statement			291,434		297,181

SHAREHOLDERS' FUNDS			291,534		297,281