REGISTERED NUMBER: 04586514 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

BONOMI (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C J Clear

Mr A Bonomi

Mrs G M Clear

Mr A C Farnham

Mr M Moore

Mr R Brailsford

SECRETARY:

Mrs H E Farnham

REGISTERED OFFICE:

The Fluid Power Centre

Watling Street

Nuneaton

Warwickshire

CV11 6BQ

REGISTERED NUMBER:

04586514 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2 Charnwood Edge Business Park

Syston Road, Leicester

LE7 4UZ

Magma Audit LLP is part

Of the Dains Group

BANKERS:

National Westminster Bank plc

1 Granby Street

Leicester

LE1 6EJ

FIXED ASSETS

Intangible assets

4

25,001

25,001

Tangible assets

5

127,490

138,334

Investments

6

432,151

432,151

584,642

595,486

CURRENT ASSETS

Stocks

1,065,068

1,213,976

Debtors

7

1,472,937

1,260,879

Cash at bank and in hand

603,534

745,943

3,141,539

3,220,798

CREDITORS

Amounts falling due within one year

8

(1,519,886

)

(1,659,325

)

NET CURRENT ASSETS

1,621,653

1,561,473

TOTAL ASSETS LESS CURRENT LIABILITIES

2,206,295

2,156,959

CREDITORS

Amounts falling due after more than one year

9

(600,000

)

(600,000

)

NET ASSETS

1,606,295

1,556,959

CAPITAL AND RESERVES

Called up share capital

400,000

400,000

Retained earnings

1,206,295

1,156,959

1,606,295

1,556,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2026 and were signed on its behalf by:

Mr A C Farnham - Director

Mr M Moore - Director

1.	STATUTORY INFORMATION

Bonomi (UK) Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is The Fluid Power Centre, Watling Street, Nuneaton, Warwickshire, CV11 6BQ and the registered number is 04586514.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is Pound Sterling (£) and figures are rounded to the nearest £1.

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.

Preparation of consolidated financial statements

The financial statements contain information about Bonomi (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is income from the sale of industrial valves, hydraulic components and related products.and is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

Intangible fixed assets

Acquired goodwill is written off in annual instalments over its estimated useful economic life.

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:

Leasehold improvements

20% straight line basis

Plant and machinery

15% straight line basis

Fixtures and fittings

15% straight line basis

Computer equipment

25% straight line basis

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.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities

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.

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.

Financial instruments

i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at

transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Preference shares which result in fixed returns to the holder or are mandatorily redeemable on a specific date are classified as liabilities. The dividends on these preference shares are recognised in the profit and loss account as an interest expense.

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is

recognised in the statement of comprehensive income, except to the extent that it related to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

(i) Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

(ii) Deferred tax

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions.

Unrelieved tax losses and other deferred tax assets are only 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 tax rates and laws that have enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference

Foreign currencies

Monetary 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.

Operating leases

Leases are classified as hire purchase whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Retirement benefits

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

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.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2024 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

125,000

AMORTISATION

At 1 January 2025

and 31 December 2025

99,999

NET BOOK VALUE

At 31 December 2025

25,001

At 31 December 2024

25,001

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 January 2025

121,150

71,085

88,755

Additions

3,406

4,540

5,254

Disposals

-

-

-

At 31 December 2025

124,556

75,625

94,009

DEPRECIATION

At 1 January 2025

56,504

33,560

63,042

Charge for year

18,427

6,889

5,876

Eliminated on disposal

-

-

-

At 31 December 2025

74,931

40,449

68,918

NET BOOK VALUE

At 31 December 2025

49,625

35,176

25,091

At 31 December 2024

64,646

37,525

25,713

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

91,610

39,491

412,091

Additions

-

12,863

26,063

Disposals

(46,450

)

-

(46,450

)

At 31 December 2025

45,160

52,354

391,704

DEPRECIATION

At 1 January 2025

91,610

29,041

273,757

Charge for year

-

5,715

36,907

Eliminated on disposal

(46,450

)

-

(46,450

)

At 31 December 2025

45,160

34,756

264,214

NET BOOK VALUE

At 31 December 2025

-

17,598

127,490

At 31 December 2024

-

10,450

138,334

6.	FIXED ASSET INVESTMENTS

Shares in

associated

undertaking

£

COST

At 1 January 2025

and 31 December 2025

895,222

PROVISIONS

At 1 January 2025

and 31 December 2025

463,071

NET BOOK VALUE

At 31 December 2025

432,151

At 31 December 2024

432,151

The shares in associated undertakings represents a 100% shareholding in Ultravalve Ltd. At 31 December 2025 the sales for period were £2,912,721 (2024: £2,367,036) and the reported net assets of Ultravalve Ltd were £722,916 (2024: £620,745).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,380,574

1,222,715

Other debtors

2,181

4,103

Amounts due from related parties

407

-

Prepayments

89,775

34,061

1,472,937

1,260,879

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,160,333

1,158,207

Corporation tax

25,758

25,219

Social security and other taxes

305,552

308,232

Amounts due to related parties

-

59,841

Accruals and deferred income

28,243

107,826

1,519,886

1,659,325

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Preference shares

600,000

600,000

The 6% cumulative preference shares carry a fixed cumulative preferential dividend at the rate of 6% per annum. The shares have no redemption entitlement. On a winding up, the holders have priority before all other classes of shares to receive repayment of capital plus any arrears of dividends. The holders have no voting rights.

10.	LEASING AGREEMENTS

Operating lease payments represent rentals payable by the company for the occupation of its business premises and for the contract hire of company vehicles. At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:

Non-cancellable

operating leases

2025

2024

£

£

Within one year

99,056

92,251

Between one and five years

86,791

159,428

185,847

251,679

11.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The company has entered into forward foreign exchange contracts in the normal course of business amounting to £2,134,463 at 31 December 2025 (2024 - £2,998,607).