ACCOUNTS - Final Accounts

Staff costs, including directors' remuneration, were as follows:

Company Registration Number: 01055930

BEA FASTENING SYSTEMS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

BEA FASTENING SYSTEMS LIMITED

REGISTERED NUMBER: 01055930

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		9,149		13,370
Tangible assets	5		484,277		449,424
			493,426		462,794
Current assets
Stocks	6	2,149,276		2,336,608
Debtors: amounts falling due within one year	7	1,460,035		1,302,786
Cash at bank and in hand	8	1,016,945		701,055
		4,626,256		4,340,449
Creditors: amounts falling due within one year	9	(1,109,900)		(1,013,003)
Net current assets			3,516,356		3,327,446
Total assets less current liabilities			4,009,782		3,790,240
Provisions for liabilities
Deferred tax	10	(100,469)		(83,694)
			(100,469)		(83,694)
Net assets			3,909,313		3,706,546

Capital and reserves
Called up share capital	11	1,200,000	1,200,000
Profit and loss account	12	2,709,313	2,506,546
		3,909,313	3,706,546

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

J D Mercer

Director

Date: 14 September 2026

The notes on pages 2 to 12 form part of these financial statements.

Page 1

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

BeA Fastening Systems Limited is a private company limited by shares incorporated in England with a registered number 01055930.
Its registered office is Behrens House, Plaxton Bridge Road, Woodmansey, Beverley, HU17 0RT.
The principal activity of the company is the supply of pneumatic tackers, nailers, clipping tools, gas fuelled nailers, hot melt glue applicators, timber connectors, other air tools and associated fasteners.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The directors have prepared the financial statements on a going concern basis.
In reaching their conclusion, the directors have considered the wider macro-economic environment, including inflation and any subsequent effect on consumer confidence. The directors have prepared cash flow forecasts, taking into account available funding facilities, which reflect a positive performance. The company has continued to trade profitabiy after the year end, and the expectation is that this will continue, notwithstanding the wider economic challenges outlined above.
After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements and the accounts are not modified in this regard.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Software

years

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Freehold property improvements	-	10%
Plant and machinery	-	15% - 33%
Fixtures, fittings and loan tools	-	10% - 50%

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.

2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation, that probably requires settlement by a transfer of economic benefits, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expenses to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account the related risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.16

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 6

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.16

Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Wages and salaries	1,507,254	1,468,696
Social security costs	199,570	169,470
Cost of defined contribution scheme	140,603	142,149
	1,847,427	1,780,315

The average monthly number of employees, including directors, during the year was 30 (2024 - 34).

Page 7

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 January 2025	16,887
	At 31 December 2025	16,887
	Amortisation
	At 1 January 2025	3,517
	Charge for the year	4,221
	At 31 December 2025	7,738
	Net book value
	At 31 December 2025	9,149
	At 31 December 2024	13,370

Page 8

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Tangible fixed assets

	Freehold property improvements	Plant and machinery	Fixtures, fittings and loan tools	Total
	£	£	£	£
Cost
At 1 January 2025	48,558	59,537	1,045,781	1,153,876
Additions	-	13,083	306,353	319,436
Disposals	-	-	(136,155)	(136,155)
At 31 December 2025	48,558	72,620	1,215,979	1,337,157
Depreciation
At 1 January 2025	48,558	39,986	615,908	704,452
Charge for the year on owned assets	-	7,024	269,227	276,251
Disposals	-	-	(127,824)	(127,824)
At 31 December 2025	48,558	47,010	757,311	852,879
Net book value
At 31 December 2025	-	25,610	458,668	484,278
At 31 December 2024	-	19,551	429,873	449,424

Page 9

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.	Stocks
		2025	2024
		£	£

Raw materials and consumables	23,785	18,417
Goods in transit	462,558	409,156
Finished goods and goods for resale	1,662,933	1,909,035
	2,149,276	2,336,608

Debtors

					2025	2024
					£	£

Trade debtors	1,353,419	1,231,715
Other debtors	22,825	14,893
Prepayments and accrued income	83,791	56,178
	1,460,035	1,302,786

8.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	1,016,945	701,055
	1,016,945	701,055

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	763,683	625,714
Corporation tax	-	13,352
Other taxation and social security	259,182	248,933
Other creditors	4,290	-
Accruals and deferred income	82,745	125,004
	1,109,900	1,013,003

Page 10

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

10.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(83,694)	(100,954)
Charged to profit or loss	(16,775)	17,260
At end of year	(100,469)	(83,694)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	(100,469)	(87,786)
Other items	-	4,092
	(100,469)	(83,694)

11.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1,200,000 (2024 - 1,200,000) Ordinary shares of £1.00 each	1,200,000	1,200,000

The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company.

12.

Reserves

Profit and loss account

This reserve represents cumulative profits and losses, net of any dividends paid.

13.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £140,603 (2024 - £142,149). Contributions totalling £Nil (2024 - £16,369) were payable to the fund at the balance sheet date and are included in creditors.

Page 11

BEA FASTENING SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Under 1 year	234,009	214,237
1 to 5 years	642,405	710,294
	876,414	924,531

15.	Related party transactions
	The company has taken advantage of the exemption contained in Section 33 of the FRS 102 'Related Party Disclosures' from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group and the company is included within the group accounts which are publicly available.

16.	Controlling party

The immediate parent company is BeA GmbH, a company incorporated in Germany and the ultimate parent company is Hangzhou Great Star Industrial Co., Ltd, a company incorporated in China.

17.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 15 September 2026 by Steven Williams (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

Page 12