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Registration number: 07053289

Synogix UK Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2025

Synogix UK Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 7

Synogix UK Limited

(Registration number: 07053289)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 4 | 43,668 | 43,668
Current assets |  |  |
Debtors | 5 | 1,218,781 | 1,588,986
Cash at bank and in hand |  | 215,666 | 99,820
|  | 1,434,447 | 1,688,806
Creditors: Amounts falling due within one year | 6 | (1,243,227) | (1,386,835)
Net current assets |  | 191,220 | 301,971
Net assets |  | 234,888 | 345,639
Capital and reserves |  |  |
Called up share capital |  | 200 | 200
Retained earnings |  | 234,688 | 345,439
Shareholders' funds |  | 234,888 | 345,639

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 August 2026

......................................... Mr E D Dumarey Director |  |

Synogix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH

The principal place of business is:
Meersbloem Melden 42
B-9700 Oudenaarde
Belgium

These financial statements were authorised for issue by the director on 24 August 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The directors have reviewed the supply chains, key customers and the capital resources available and consider that the company has adequate resources in place to continue trading for the next twelve months. Accordingly, the financial statements have been prepared on a going concern basis.

Synogix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Synogix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Synogix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on a paid basis and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2024 - 1).

4 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 43,668 | 43,668

Subsidiaries | £
Cost or valuation
At 1 January 2025 | 43,668
Carrying amount
At 31 December 2025 | 43,668
At 31 December 2024 | 43,668

Synogix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Fitron Industries India Private Limited | 335, Phase IV, Udyog Vihar Sector 19 Gurgaon Gurgaon HR 122015 India | Ordinary | 100% | 100%

0.0025% of the shareholding in Fitron Industries India Private Limited is owned by a nominee shareholder of Synogix UK Limited.

5 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 154,539 | 434,133
Amounts owed by related parties | 8 | 124,118 | -
Prepayments |  | 181,280 | 222,000
Other debtors |  | 55,507 | 165
|  | 515,444 | 656,298

Non-current | Note | 2025 £ | 2024 £
Amounts owed by related parties | 8 | 703,337 | 932,688
|  | 703,337 | 932,688

Synogix UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6 | Creditors

Due within one year | Note | 2025 £ | 2024 £
Trade creditors |  | 17,780 | 21,247
Amounts due to related parties | 8 | 1,156,801 | 1,239,772
Social security and other taxes |  | 30,501 | 33,949
Other creditors |  | 674 | 3,986
Accruals |  | 37,471 | 42,664
Corporation tax liability |  | - | 45,217
|  | 1,243,227 | 1,386,835

7 | Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are outstanding pension liabilities of £257 (2024 - £Nil).

8 | Related party transactions

Summary of transactions with other related parties

The company has taken advantage of the exemptions in Financial Reporting Standard 102 Section 33 and has not disclosed transactions between wholly owned members of the same group.

9 | Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Shoe Branding Europe BV, incorporated in Belgium.
These financial statements are available upon request from Meersbloem Melden 42, B-9700 Oudenaarde.