REGISTERED NUMBER: 01704124 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

FOR

NEWTEC ODENSE(U.K.) LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Income Statement

6

Balance Sheet

7

Statement of Changes in Equity

8

Notes to the Financial Statements

9

DIRECTORS:

Mr A B Petersen

Mr J C Lundholt

REGISTERED OFFICE:

21 - 23 Fleet Road Industrial Estate

Fleet Road

Holbeach

Lincolnshire

PE12 8LY

REGISTERED NUMBER:

01704124 (England and Wales)

AUDITORS:

Bronsens Accountants Limited

Chartered Certified Accountants

Statutory Auditors

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

The directors present their report with the financial statements of the company for the year ended 30 April 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the distribution of packaging machinery.

DIRECTORS

Mr A B Petersen has held office during the whole of the period from 1 May 2025 to the date of this report.

Other changes in directors holding office are as follows:

Mr R S Mumford - resigned 1 February 2026

Mr J C Lundholt - appointed 1 February 2026

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr J C Lundholt - Director

20 October 2026

Opinion

We have audited the financial statements of Newtec Odense(U.K.) Limited (the 'company') for the year ended 30 April 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 April 2026 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Mark Nicholas Winks (Senior Statutory Auditor)

for and on behalf of Bronsens Accountants Limited

Chartered Certified Accountants

Statutory Auditors

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

20 October 2026

TURNOVER

7,750,323

8,047,966

Cost of sales

5,339,031

5,527,349

GROSS PROFIT

2,411,292

2,520,617

Distribution costs

1,051,812

952,196

Administrative expenses

266,891

214,084

1,318,703

1,166,280

1,092,589

1,354,337

Other operating income

727

35,482

OPERATING PROFIT

5

1,093,316

1,389,819

Interest receivable and similar income

27,182

22,598

1,120,498

1,412,417

Interest payable and similar expenses

1,618

1,618

PROFIT BEFORE TAXATION

1,118,880

1,410,799

Tax on profit

6

280,469

354,668

PROFIT FOR THE FINANCIAL YEAR

838,411

1,056,131

FIXED ASSETS

Tangible assets

7

86,829

76,455

CURRENT ASSETS

Stocks

8

1,380,780

1,268,034

Debtors

9

2,295,449

1,473,026

Investments

10

398,800

398,800

Cash at bank and in hand

1,984,098

1,616,630

6,059,127

4,756,490

CREDITORS

Amounts falling due within one year

11

3,781,636

2,304,544

NET CURRENT ASSETS

2,277,491

2,451,946

TOTAL ASSETS LESS CURRENT LIABILITIES

2,364,320

2,528,401

CREDITORS

Amounts falling due after more than one year

12

(11,974

)

(17,963

)

PROVISIONS FOR LIABILITIES

14

(17,590

)

(14,093

)

NET ASSETS

2,334,756

2,496,345

CAPITAL AND RESERVES

Called up share capital

15

15,000

15,000

Retained earnings

2,319,756

2,481,345

SHAREHOLDERS' FUNDS

2,334,756

2,496,345

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2026 and were signed on its behalf by:

Mr J C Lundholt - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 May 2024

15,000

2,225,214

2,240,214

Changes in equity

Dividends

-

(800,000

)

(800,000

)

Total comprehensive income

-

1,056,131

1,056,131

Balance at 30 April 2025

15,000

2,481,345

2,496,345

Changes in equity

Dividends

-

(1,000,000

)

(1,000,000

)

Total comprehensive income

-

838,411

838,411

Balance at 30 April 2026

15,000

2,319,756

2,334,756

1.	STATUTORY INFORMATION

Newtec Odense(U.K.) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The nature of the company's operations and principal activity is that of design and manufacture of high quality weighing, packing and sorting machinery. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. Machine sales are recognised on delivery to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost and 20% on 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Current asset investments

The unlisted current asset investment is stated at cost and reviewed for any movements. The fair value of the bond is considered annually and any indicators or impairment would be recognised in the profit and loss.

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 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 subject to an insignificant risk of change in value.

Trade debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2025 - 11 ) .

5.	OPERATING PROFIT

The operating profit is stated after charging:

30.4.26

30.4.25

£

£

Depreciation - owned assets

31,883

27,228

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30.4.26

30.4.25

£

£

Current tax:

UK corporation tax

276,972

360,442

Deferred tax

3,497

(5,774

)

Tax on profit

280,469

354,668

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2025

15,998

25,833

176,003

9,164

226,998

Additions

-

21,845

29,398

-

51,243

At 30 April 2026

15,998

47,678

205,401

9,164

278,241

DEPRECIATION

At 1 May 2025

12,113

18,757

110,978

8,695

150,543

Charge for year

1,709

6,588

32,103

469

40,869

At 30 April 2026

13,822

25,345

143,081

9,164

191,412

NET BOOK VALUE

At 30 April 2026

2,176

22,333

62,320

-

86,829

At 30 April 2025

3,885

7,076

65,025

469

76,455

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2025

and 30 April 2026

44,930

DEPRECIATION

At 1 May 2025

17,972

Charge for year

8,986

At 30 April 2026

26,958

NET BOOK VALUE

At 30 April 2026

17,972

At 30 April 2025

26,958

8.

STOCKS

30.4.26

30.4.25

£

£

Stocks

1,380,780

1,268,034

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.26

30.4.25

£

£

Trade debtors

2,242,070

1,431,973

Prepayments

53,379

41,053

2,295,449

1,473,026

10.	CURRENT ASSET INVESTMENTS

The investment relates to UK Treasury 3.75% bonds that mature on 7 March 2027.

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.26

30.4.25

£

£

Hire purchase contracts (see note 13)

5,988

5,989

Trade creditors

121,539

114,573

Tax

104,765

179,405

Social security and other taxes

17,327

18,363

VAT

508,929

370,427

Amount owed to group companies

645,946

580,120

Deferred income - deposits

2,285,135

923,006

Accrued expenses

92,007

112,661

3,781,636

2,304,544

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.26

30.4.25

£

£

Hire purchase contracts (see note 13)

11,974

17,963

13.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.4.26

30.4.25

£

£

Net obligations repayable:

Within one year

5,988

5,989

Between one and five years

11,974

17,963

17,962

23,952

Non-cancellable

operating leases

30.4.26

30.4.25

£

£

Within one year

4,600

33,233

Between one and five years

58,989

14,424

63,589

47,657

14.	PROVISIONS FOR LIABILITIES

30.4.26

30.4.25

£

£

Deferred tax

Accelerated capital allowances

17,590

14,093

Deferred

tax

£

Balance at 1 May 2025

14,093

Provided during year

3,497

Balance at 30 April 2026

17,590

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.26

30.4.25

value:

£

£

15,000

Ordinary

£1

15,000

15,000

16.	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.

17.	ULTIMATE CONTROLLING PARTY

The controlling party is Newtec Holding A/S.