REGISTERED NUMBER: 13016974 (England and Wales)

Audited Financial Statements

for the Year Ended 31st December 2025

for

ULBEX UK LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

K F Palaveev

I Lalev

REGISTERED OFFICE:

Suffolk House

George Street

Croydon

CR0 0YN

REGISTERED NUMBER:

13016974 (England and Wales)

SENIOR STATUTORY AUDITOR:

Patrick du Cassé

AUDITORS:

TC Group

Statutory Auditor

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

CURRENT ASSETS

Debtors

4

1,377,982

1,938,594

Cash at bank

1,103,792

205,546

2,481,774

2,144,140

CREDITORS

Amounts falling due within one year

5

2,238,215

1,883,985

NET CURRENT ASSETS

243,559

260,155

TOTAL ASSETS LESS CURRENT LIABILITIES

243,559

260,155

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

243,459

260,055

SHAREHOLDERS' FUNDS

243,559

260,155

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 Statement of Income and Retained Earnings has not been delivered.

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

K F Palaveev - Director

1.	STATUTORY INFORMATION

ULBEX UK LTD 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.

The directors are confident that the going concern basis of preparation is appropriate given the combination of an expectation of sufficient cash inflows from continuing contracts, available cash reserves and if required financial support from it's parent Company.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for twelve months from the date of approval of the financial statements

Turnover

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

1,351,157

1,604,886

Amounts owed by group undertakings

-

100

Other debtors

1,294

5,280

Prepayments and accrued income

25,531

328,328

1,377,982

1,938,594

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

1,790,552

1,814,956

Amounts owed to group undertakings

179,617

-

Tax

54,397

24,088

Social security and other taxes

147

147

VAT

50,621

40,518

Other creditors

589

4,276

Accrued expenses

162,292

-

2,238,215

1,883,985

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The audit report provided to the members of ULBEX UK Ltd on the financial statements for the year ended 31st December 2025 was not qualified.

The audit report was signed by Patrick du Cassé (Senior Statutory Auditor) for and on behalf of TC Group, Statutory Auditor.

7.	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.

8.	ULTIMATE CONTROLLING PARTY

The Company's immediate and ultimate parent undertaking is ULA OOD, a company incorporated in Bulgaria, which owns 100% of the Company's issued share capital.