REGISTERED NUMBER: 02142443 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

M P FILTRI (UK) LIMITED

Page

Company Information

1

Strategic Report

2

to

3

Report of the Directors

4

to

5

Report of the Independent Auditors

6

to

8

Statement of Income and Retained Earnings

9

Balance Sheet

10

Notes to the Financial Statements

11

to

23

DIRECTORS:

G Pasotto

Mrs M Pasotto

F Chessari

K Perks

M Kirchin

REGISTERED OFFICE:

Conference Way

Vale Park

Evesham

Worcestershire

WR11 1LB

REGISTERED NUMBER:

02142443 (England and Wales)

AUDITORS:

Smith Heath Holdings Limited

Statutory Auditor

3 - 4 Bath Mews

Bath Parade

Cheltenham

Gloucestershire

GL53 7HL

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

OVERVIEW

2025 was a positive year for MP Filtri UK, with growth in turnover and gross profit alongside further improvements in working capital and cash resources. The company continued to strengthen both its established hydraulic filtration business and its position in contamination monitoring, while expanding its presence in international markets.

The appointment of Engineering Director Kris Perks as Managing Director marked an important development for the business. His technical expertise has reinforced an engineering-led approach to the company's strategy, creating further opportunities to develop MP Filtri UK as a centre of expertise for contamination monitoring systems within the wider MP Filtri Group and across global markets.

A FAIR VIEW OF BUSINESS

Turnover increased by 7.2%, from £13.85 million in 2024 to £14.84 million in 2025, while gross profit increased by 8.0%, from £5.27 million to £5.69 million. Gross margin also improved slightly, from approximately 38.1% to 38.4%.

Hydraulic filtration remains a core part of MP Filtri UK's business. The company continues to distribute filtration products supplied by MP Filtri Italy, generating significant business and strong margins in the UK market. This established distribution activity remains an important contributor to the company's financial performance and provides a solid foundation alongside the continued development of contamination monitoring.

At the same time, the company continued to develop its specialist expertise in contamination monitoring and expand its international presence. Closer collaboration with other MP Filtri Group companies provides opportunities to develop new applications, support customers across a wider range of markets and strengthen the company's global position.

Operational and financial discipline remained a priority. Inventory reduced from £3.50 million to £3.39 million despite the increase in turnover, while cash increased from £216,196 to £373,023. These results reflect continued attention to stock management, working capital and cash generation.

Foreign exchange movements also contributed positively to the year, with a gain of £18,195 compared with a loss of £34,980 in 2024.

Overall, the company made good progress during 2025, combining financial growth and improved operational efficiency with the continued strength of its hydraulic filtration business and the development of its engineering-led contamination monitoring strategy.

PRINCIPAL RISKS AND UNCERTAINTIES

MP Filtri UK continues to operate in an uncertain global environment. The principal risks facing the business include fluctuations in foreign exchange rates, changes in customer demand, inflationary pressures, material and transportation costs, supply chain disruption and wider geopolitical developments.

The company monitors these risks closely and seeks to mitigate their impact through disciplined financial and working capital management, appropriate pricing strategies, effective supplier relationships and close collaboration across the MP Filtri Group.

As the company's international activities continue to grow, exposure to currency movements and changes in global economic and trade conditions will remain an important area of focus.

OUTLOOK FOR 2026 AND BEYOND

MP Filtri UK enters 2026 with a clear focus on sustainable and profitable growth across both its hydraulic filtration and contamination monitoring activities.

The company will continue to develop its established hydraulic filtration distribution business, building on its strong market presence, customer relationships and close partnership with MP Filtri Italy. This will remain an important contributor to the company's revenue and profitability.

Alongside this established business, contamination monitoring will remain a key area of strategic development, supported by the company's specialist engineering expertise and increasing international presence. MP Filtri UK will continue to invest in technical capabilities, innovation and its people, while strengthening collaboration across the MP Filtri Group.

Operational efficiency, working capital management and cost control will remain important priorities as the company continues to grow.

While economic and geopolitical uncertainty remains, MP Filtri UK believes that the combination of a strong and profitable hydraulic filtration business, specialist contamination monitoring expertise, established customer relationships and the international MP Filtri network provides a solid foundation for future development.

CONCLUSION

2025 was a year of growth and strategic progress for MP Filtri UK. The company increased turnover and gross profit, reduced inventory and strengthened its cash position.

The established hydraulic filtration distribution business continued to make an important contribution to the company's performance, while the appointment of Kris Perks as Managing Director reinforced the engineering-led development of the company's contamination monitoring activities.

MP Filtri UK enters 2026 with a balanced business model, combining a strong and profitable hydraulic filtration operation with growing specialist expertise and international opportunities in contamination monitoring. This provides a solid platform for sustainable long-term growth.

ON BEHALF OF THE BOARD:

F Chessari - Director

17 July 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing filtration and hydraulic specialist services.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

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

G Pasotto

Mrs M Pasotto

F Chessari

K Perks

Other changes in directors holding office are as follows:

J Gardner - resigned 30 April 2025

M Kirchin - appointed 17 June 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Smith Heath Holdings Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

F Chessari - Director

17 July 2026

Opinion

We have audited the financial statements of M P Filtri (UK) Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

Our audit planning process gave consideration to the risk of material misstatement in the financial statements, using the calculated materiality level which itself factored in the nature of the Company's operations and the interpreted levels of inherent and control risk.

In assessing the risk of fraud we reviewed management's own assessment of potential for fraud within the entity and reviewed judgements made by management to identify possible bias, in addition to any opportunity and incentive for fraud that are inherent in the nature of the Company's operations. Our detailed testing included review of accounting estimates and judgements and validation of prime ledger entries.

We confirmed our knowledge of the legal and regulatory environment of the entity through discussions with management. We analysed all information available to us in respect of relevant laws and regulations, including the Companies Act 2006 and relevant UK tax legislation and enquired with management as to any possible breaches in the aforementioned.

We agreed the accuracy of the financial statements to the supporting management information provided by the client and tested individually on a sample basis the income and expenditure in the financial statements to consider the business rationale behind the transactions and the accuracy of the financial records.

Our audit testing did not identify any issues in respect of the matters listed above, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Samantha Jane Smith FCCA (Senior Statutory Auditor)

for and on behalf of Smith Heath Holdings Limited

Statutory Auditor

3 - 4 Bath Mews

Bath Parade

Cheltenham

Gloucestershire

GL53 7HL

17 July 2026

TURNOVER

3

14,838,099

13,845,517

Cost of sales

9,146,087

8,576,933

GROSS PROFIT

5,692,012

5,268,584

Administrative expenses

5,145,917

5,103,870

OPERATING PROFIT

5

546,095

164,714

Interest receivable and similar income

104,779

95,784

650,874

260,498

Interest payable and similar expenses

6

16,213

28,759

PROFIT BEFORE TAXATION

634,661

231,739

Tax on profit

7

115,286

15,348

PROFIT FOR THE FINANCIAL YEAR

519,375

216,391

Retained earnings at beginning of year

7,842,721

7,626,330

RETAINED EARNINGS AT END OF YEAR

8,362,096

7,842,721

FIXED ASSETS

Intangible assets

8

16,986

29,068

Tangible assets

9

683,198

801,907

700,184

830,975

CURRENT ASSETS

Stocks

10

3,393,200

3,495,459

Debtors

11

6,860,381

5,942,969

Cash at bank and in hand

373,023

216,196

10,626,604

9,654,624

CREDITORS

Amounts falling due within one year

12

2,695,492

2,325,539

NET CURRENT ASSETS

7,931,112

7,329,085

TOTAL ASSETS LESS CURRENT LIABILITIES

8,631,296

8,160,060

CREDITORS

Amounts falling due after more than one year

13

(70,726

)

(131,539

)

PROVISIONS FOR LIABILITIES

17

(148,971

)

(136,297

)

NET ASSETS

8,411,599

7,892,224

CAPITAL AND RESERVES

Called up share capital

18

94

94

Share premium

19

49,403

49,403

Capital redemption reserve

19

6

6

Retained earnings

19

8,362,096

7,842,721

SHAREHOLDERS' FUNDS

8,411,599

7,892,224

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2026 and were signed on its behalf by:

F Chessari - Director

1.	STATUTORY INFORMATION

M P Filtri (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

Significant judgements and estimates

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.

Going concern

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Leasehold improvements

-

Straight line over 15 years

Plant and machinery

-

33% on cost and 15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Hire purchase and leasing commitments

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

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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 is 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.

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.

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 payments 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. Amounts 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 subsequently 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 through 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.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

8,556,454

8,817,401

Europe

3,947,015

2,780,763

Rest of the World

2,334,630

2,247,353

14,838,099

13,845,517

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,890,611

3,041,077

Social security costs

355,526

317,715

Other pension costs

187,200

145,460

3,433,337

3,504,252

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

2025

2024

Administration

17

17

Directors

3

4

Distribution

13

12

Production and quality assurance

11

13

Research and development

8

5

Sales

9

9

61

60

2025

2024

£

£

Directors' remuneration

477,541

622,611

Directors' pension contributions to money purchase schemes

71,452

24,553

Compensation to director for loss of office

-

68,923

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

3

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

161,594

175,669

Pension contributions to money purchase schemes

20,737

-

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

18,632

19,827

Other operating leases

355,422

332,703

Depreciation - owned assets

156,545

127,432

Depreciation - assets on hire purchase contracts

-

38,280

Profit on disposal of fixed assets

-

(5,343

)

Computer software amortisation

12,082

3,960

Auditors' remuneration

14,862

12,875

Foreign exchange differences

(18,195

)

34,980

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

1,966

6,501

Hire purchase interest

14,247

22,026

Other interest

-

232

16,213

28,759

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

102,612

(21,548

)

Under/over provision in prior years

-

5,599

Total current tax

102,612

(15,949

)

Deferred tax

12,674

31,297

Tax on profit

115,286

15,348

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

634,661

231,739

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

158,665

57,935

Effects of:

Expenses not deductible for tax purposes

2,400

2,630

Adjustments to tax charge in respect of previous periods

-

5,169

Research and development tax relief

(45,779

)

(50,386

)

tax

Total tax charge

115,286

15,348

8.	INTANGIBLE FIXED ASSETS

Patents

and

Computer

licences

software

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

13,190

38,113

51,303

AMORTISATION

At 1 January 2025

13,190

9,045

22,235

Amortisation for year

-

12,082

12,082

At 31 December 2025

13,190

21,127

34,317

NET BOOK VALUE

At 31 December 2025

-

16,986

16,986

At 31 December 2024

-

29,068

29,068

9.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 January 2025

52,204

1,208,641

254,364

Additions

-

36,856

980

At 31 December 2025

52,204

1,245,497

255,344

DEPRECIATION

At 1 January 2025

6,229

669,111

52,321

Charge for year

3,480

129,981

20,212

At 31 December 2025

9,709

799,092

72,533

NET BOOK VALUE

At 31 December 2025

42,495

446,405

182,811

At 31 December 2024

45,975

539,530

202,043