REGISTERED NUMBER: 06700876 (England and Wales)

IVARIS LIMITED

Financial Statements for the Year Ended 31 December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Smith

A P O Bell

REGISTERED OFFICE:

Unit D9

Brunel Gate

Telford Close

Aylesbury

Buckinghamshire

HP19 8AR

REGISTERED NUMBER:

06700876 (England and Wales)

ACCOUNTANTS:

Maclean & Company

1 Park View Court

St Paul's Road

Shipley

West Yorkshire

BD18 3DZ

FIXED ASSETS

Tangible assets

4

27,662

31,852

Investments

5

8,495

8,495

36,157

40,347

CURRENT ASSETS

Stocks

572,157

538,518

Debtors

6

1,156,149

558,806

Cash at bank and in hand

104,057

350,392

1,832,363

1,447,716

CREDITORS

Amounts falling due within one year

7

595,933

282,849

NET CURRENT ASSETS

1,236,430

1,164,867

TOTAL ASSETS LESS CURRENT LIABILITIES

1,272,587

1,205,214

PROVISIONS FOR LIABILITIES

9

8,681

7,684

NET ASSETS

1,263,906

1,197,530

CAPITAL AND RESERVES

Called up share capital

150

150

Share premium

66,616

66,616

Retained earnings

1,197,140

1,130,764

SHAREHOLDERS' FUNDS

1,263,906

1,197,530

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 Income Statement has not been delivered.

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

A P O Bell - Director

S J Smith - Director

1.	STATUTORY INFORMATION

IVARIS 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.

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.

Turnover

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

Tangible fixed assets

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

Tooling & development

-

10% on cost

Office equipment & fittings

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Office

Tooling &

equipment

development

& fittings

Totals

£

£

£

COST

At 1 January 2025

136,573

62,078

198,651

Additions

-

4,363

4,363

At 31 December 2025

136,573

66,441

203,014

DEPRECIATION

At 1 January 2025

114,641

52,158

166,799

Charge for year

5,519

3,034

8,553

At 31 December 2025

120,160

55,192

175,352

NET BOOK VALUE

At 31 December 2025

16,413

11,249

27,662

At 31 December 2024

21,932

9,920

31,852

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

8,495

NET BOOK VALUE

At 31 December 2025

8,495

At 31 December 2024

8,495

In 2020, Ivaris Limited established, under the appropriate national company law, a wholly-owned Belgian subsidiary company, Peterson Europe BV. This company began trading on 1 January 2021, and is primarily responsible for product sales to EU customers which were previously serviced by Ivaris Limited. The value of these sales in the financial year 2025 was €2,147,771 (2024 - €1,641,743).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors & prepayments

464,658

558,806

Amounts owed by group undertakings

691,491

-

1,156,149

558,806

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

252,383

-

Trade & other creditors

228,769

160,493

Taxation

114,781

122,356

595,933

282,849

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Bank loans

252,383

-

Bank borrowings are secured by fixed and floating charges over the assets of the company.

9.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

£

Deferred tax

8,681

7,684

Deferred

tax

£

Balance at 1 January 2025

7,684

Charge to Income Statement during year

997

Balance at 31 December 2025

8,681

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.