Registered number: 02676657
FOR THE YEAR ENDED 31 DECEMBER 2025
UZIN UTZ UK LTD.
COMPANY INFORMATION
UZIN UTZ UK LTD.
CONTENTS
UZIN UTZ UK LTD.
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report for the year ended 31 December 2025. Uzin Utz UK Ltd operates as a wholly owned subsidiary of Uzin Utz SE and is engaged in the supply of products, machinery, and tools for the flooring industry within the United Kingdom and Ireland. The strategic objective of the Company is to effectively position itself for expansion within the construction and flooring markets in these regions. Furthermore, Uzin Utz UK Ltd employs a comprehensive sales and marketing strategy across all product sectors. The Company is actively pursuing demand development, supported by innovative product initiatives and substantial investments in human resources.
The financial results for the year are detailed on pages 9 and 10 of these financial statements. In recent months, we have encountered challenging market conditions, particularly within the flooring sector, stemming from macroeconomic factors impacting the UK economy. These circumstances have constrained opportunities for increasing annual turnover. Nevertheless, we have experienced a notable increase in profitability, attributed to a preferential product mix and diligent cost control measures. The Directors are committed to continually reviewing and implementing strategies and initiatives designed to enhance the competitive positioning of our various brands within the industry, with a strong emphasis on maintaining cost efficiency.
The Company is influenced by various economic and market conditions that may impact its business strategies. Factors including interest rates, credit availability, inflation rates, economic uncertainty, legislative changes, and political circumstances both in the United Kingdom and internationally can significantly affect the effectiveness of our operations. Furthermore, unanticipated market volatility or liquidity challenges have the potential to undermine profitability or result in financial losses.
Uzin Utz UK Ltd functions within a competitive landscape in the flooring industry, contending with pressures from both established and emerging manufacturers based in the United Kingdom. The Company also faces considerable competition from entities that own and operate their production facilities within the country. Additionally, the organisation encounters challenges arising from fluctuating exchange rates and increasing logistics costs, both domestically and throughout Europe. The directors of the Company routinely engage in comprehensive reviews and analyses of all relevant risks that could impact the organisation and implement appropriate measures to mitigate these potential threats.
Uzin Utz UK Ltd functions within a competitive landscape in the flooring industry, contending with pressures from both established and emerging manufacturers based in the United Kingdom. The Company also faces considerable competition from entities that own and operate their production facilities within the country. Additionally, the organisation encounters challenges arising from fluctuating exchange rates and increasing logistics costs, both domestically and throughout Europe. The directors of the Company routinely engage in comprehensive reviews and analyses of all relevant risks that could impact the organisation and implement appropriate measures to mitigate these potential threats.
Management consider the following to be the main KPIs driving the business' growth:
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UZIN UTZ UK LTD.
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The company utilises a robust set of financial and non-financial key performance indicators (KPIs) to systematically monitor and assess business performance. These indicators encompass various metrics, including revenue growth, profit margins, customer satisfaction, and employee engagement. Local management teams evaluate these KPIs during regular leadership meetings, which are scheduled on a weekly or monthly basis, depending on departmental requirements. Furthermore, a comprehensive review of these performance indicators is conducted during quarterly meetings with the executive board of our parent company located in Germany. These sessions facilitate strategic discussions and help ensure alignment with overarching business objectives, thereby enhancing organisational effectiveness and fostering a culture of continuous improvement.
This report was approved by the board on 12 March 2026 and signed on its behalf.
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UZIN UTZ UK LTD.
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The profit for the year, after taxation, amounted to £703,026 (2024 - £613,932).
Details of dividends paid are disclosed in Note 20 to the financial statements.
The directors who served during the year were:
There have been no significant events affecting the Company since the year end.
The directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. 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 UK 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.
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UZIN UTZ UK LTD.
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' reports may differ from legislation in other jurisdictions.
Details covering employee engagement and supplier, customer and other business relationship engagements are contained in the Strategic Report.
This report was approved by the board on 12 March 2026 and signed on its behalf.
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UZIN UTZ UK LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UZIN UTZ UK LTD.
We have audited the financial statements of Uzin Utz UK Ltd. (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, 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 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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UZIN UTZ UK LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UZIN UTZ UK LTD. (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report 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.
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 Directors' report.
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UZIN UTZ UK LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UZIN UTZ UK LTD. (CONTINUED)
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 Auditors' 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.
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:
∙We determined that the laws and regulations which are directly relevant to the financial statements are those that relate to the reporting framework, Financial Reporting Standard 101 (“FRS 101”), and the relevant tax compliance regulations in the jurisdictions in which the Company operates. We evaluated the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
∙In addition, there are other laws and regulations which may have an effect on the determination of the amounts and disclosures in the financial statements. For these laws and regulations, the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through fines or litigation being imposed. As required by the auditing standards, auditing procedures in respect of non-compliance with these identified laws and regulations are limited to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit risk.
∙We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur, by meeting with a number of individuals, including with individuals outside of the finance function, and conducted interviews to understand where they considered there was susceptibility to fraud.
∙Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations and fraud risks identified in the paragraphs above. In addition to the audit procedures, we remained alert to any indications of non-compliance throughout the audit. The specific audit procedures performed included:
°Review of senior management meeting minutes;
°Reviewed large and unusual bank transactions;
°Challenged assumptions and judgements made by management in its significant accounting estimates, in particular in relation to the stock provision; and
°Identifying and testing journal entries.
°Review of legal and professional fee expenditure;
There are inherent limitations of an audit. There is a higher risk that irregularities, including fraud, will not be detected during the audit as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. The primary responsibility for the prevention and detection of non-compliance with all laws and regulations and fraud lies with both those charged with governance of the entity and management.
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 Auditors' report.
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UZIN UTZ UK LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UZIN UTZ UK LTD. (CONTINUED)
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 Auditors' 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.
for and on behalf of
Chartered Accountants and Statutory Auditor
3rd Floor
Waverley House
7-12 Noel Street
W1F 8GQ
Date:
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UZIN UTZ UK LTD.
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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UZIN UTZ UK LTD.
REGISTERED NUMBER: 02676657
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2026 .
The notes on pages 12 to 26 form part of these financial statements.
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UZIN UTZ UK LTD.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Uzin Utz UK Ltd. is a private company, limited by shares, domiciled in England and Wales, registration number 02676657. The registered office is Unit 2 Mitchell Court, Castle Mound Way, Central Park, Rugby, Warwickshire, CV23 0UY.
2.Accounting policies
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirements of IFRS 7 Financial Instruments: Disclosures
∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
∙the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total
∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraphs 76 and 79(d) of IAS 40 Investment Property; and
∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
∙the requirements of IAS 7 Statement of Cash Flows
∙the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
The above disclosures can be found in the consolidated accounts of Uzin Utz SE, the immediate and ultimate parent company. Uzin Utz SE is a company incorporated in Germany. Copies of the consolidated financial statements of the Uzin Group can be obtained from the parent company at Dieselstrasse 3, 0-89079 Ulm, Germany.
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
After making relevant enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value.
All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.
Financial assets and financial liabilities are initially measured at fair value.
All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.
Functional and presentation currency
Transactions and balances
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Stock provision
Provision is made for slow moving and obsolete stock. The provision requires management's best estimate of stock that they believe they will be unable to or will experience difficulty in selling. In addition to this, management have to consider the value at which they believe the old stock can be sold for.
Bad debt provision
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
The company have applied the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade debtors. To measure the expected credit losses, trade debtors have been grouped based on credit risk characteristics and the days past due. The impact in the current year is immaterial and so has not been considered in respect of the comparatives.
Effective rate of interest rate on right of use assets
If the rate cannot be readily determined from the lease agreement, which is generally the case for leases in the Company, the lessee's incremental borrowing rate is used. This is the rate that the lessee would expect to borrow at over similar terms and with a similar security on the right of use asset. Management determine these rates through research for lease opportunities on comparable vehicle models; each lease attracts a different rate, dependent upon the model of vehicle and the leasing company used.
Analysis of turnover by country of destination:
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Taxation (continued)
There were no factors that may affect future tax charges.
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
17.Leases (continued)
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The company operates a defined contribution pensions scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £140,857 (2024 - £88,640). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the balance sheet date.
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Copies of the consolidated financial statements of the Uzin Group can be obtained from the parent company at Dieselstrasse 3, 0-89079 Ulm, Germany.
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UZIN UTZ UK LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors constantly monitor the financial risks to which the Company is exposed, in order to detect those risks in advance and take the necessary action to mitigate them through regular review by the board.
Fair value estimation
The fair value of financial assets and financial liabilities are estimated for recognition and measurement and for disclosure purposes. The carrying value of cash, trade receivables and other receivables, trade and other payables approximate to their fair values due to their short term nature.
Liquidity risk
The company has adopted a series of policies and procedures whose purpose is to optimise the management of funds and to reduce the liquidity risk, as follows:
• maintaining an adequate level of available liquidity; and
• monitoring future liquidity on the basis of business planning.
Management believes that the funds and credit lines currently available, in addition to those funds that will be generated from future operating and funding activities, will enable the company to satisfy its requirements resulting from its investing activities and its working capital needs and to fulfil its obligations to repay its debts at their natural due date.
Trade payables and other taxes and social security costs fall due for payment within thirty days.
Market risk
The Company does not currently have any material borrowings affected by interest rates and the company has a low level of foreign currency transactions thus mitigating the risk of exposure to currency risk.
Credit risk
No credit limits were exceeded during the reporting period, and management does not expect any losses in respect of receivables due as at the year end.
Capital risk management
The Company aims to manage its overall capital so as to ensure that the company continues to operate as a going concern.
Fair value estimation
The fair value of financial assets and financial liabilities are estimated for recognition and measurement and for disclosure purposes. The carrying value of cash, trade receivables and other receivables, trade and other payables approximate to their fair values due to their short term nature.
Liquidity risk
The company has adopted a series of policies and procedures whose purpose is to optimise the management of funds and to reduce the liquidity risk, as follows:
• maintaining an adequate level of available liquidity; and
• monitoring future liquidity on the basis of business planning.
Management believes that the funds and credit lines currently available, in addition to those funds that will be generated from future operating and funding activities, will enable the company to satisfy its requirements resulting from its investing activities and its working capital needs and to fulfil its obligations to repay its debts at their natural due date.
Trade payables and other taxes and social security costs fall due for payment within thirty days.
Market risk
The Company does not currently have any material borrowings affected by interest rates and the company has a low level of foreign currency transactions thus mitigating the risk of exposure to currency risk.
Credit risk
No credit limits were exceeded during the reporting period, and management does not expect any losses in respect of receivables due as at the year end.
Capital risk management
The Company aims to manage its overall capital so as to ensure that the company continues to operate as a going concern.
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