OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

Principal activity

The principal activity of the Company is to support the parent company who's activity is engineering and sales of automatic quick coupler systems.

These financial statements were authorised for issue by the Board on 15 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The financial statements are prepared for an extended 16 month accounting period ending 31 December 2025. The prior period covered 12 months to 31 August 2024. As a result, the current period’s figures are not directly comparable to the prior year.

Going concern

These financial statements have been prepared on the going concern basis, which assumes that the company will be able to meet its financial obligations as they fall due for payment for the foreseeable future. The company is reliant upon the continued support of its parent undertaking, OilQuick AB, to be able to do this. OilQuick AB has indicated to the directors, that support will be provided as it is required.

OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

Turnover recognition

There are two types of revenue stream. The first type is where revenue is recognised under a transfer pricing agreement with the parent company and recognised in the period in which the expense is inccurred. The second type is with the external customers and revenue from these sales is recognised when control of the goods transfers to the customer.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

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

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	2 years straight line
Computer equipment	2 years straight line
Leasehold improvements	5 years straight line
Plant and machinery	5 years straight line

OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

3	Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4	Staff numbers

The average number of persons employed by the Company (including directors) during the period, was 4 (2024 - 3).

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2024	1,293	1,293
Additions	26,862	26,862
At 31 December 2025	28,155	28,155
Depreciation
At 1 September 2024	1,293	1,293
Charge for the period	3,395	3,395
At 31 December 2025	4,688	4,688
Carrying amount
At 31 December 2025	23,467	23,467
At 31 August 2024	-	-

OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

6

Stocks

	2025 £	2024 £
Other inventories	107,176	-

7

Debtors

	Note	2025 £	2024 £
Trade debtors		9,360	-
Amounts owed by Group undertakings and undertakings in which the Company has a participating interest		254,756	30,466
Prepayments		30,324	6,222
Other debtors		37,082	2,018
		331,522	38,706

OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	2,300	-
Trade creditors		5,371	3,585
Amounts owed to Group undertakings and undertakings in which the Company has a participating interest		150,606	87,544
Taxation and social security		86,287	10,005
Accruals and deferred income		13,569	6,791
Other creditors		1,966	1,065
		260,099	108,990

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	8,242	-

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	8,242	-

Current loans and borrowings

OilQuick UK Limited

Notes to the Financial Statements for the Period from 1 September 2024 to 31 December 2025

	2025 £	2024 £
Hire purchase contracts	2,300	-

11

Dividends

		2025		2024
		£		£
Final dividend of £Nil (2024 - £Nil) per ordinary share		-		-

12	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	68,347	24,610
Later than one year and not later than five years	204,771	25,010
	273,118	49,620

13	Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is OilQuick AB, incorporated in Sweeden.

The address of OilQuick AB is:
Hede-finnflovägen 6, 824 31 Hudiksvall, Sweden.

14	Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 15 September 2026 was David Wheeler, who signed for and on behalf of Bourner Bullock.