REGISTERED NUMBER: 01528523 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PYRAMIS U.K. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N A Bakatselos

Mr I Livitsanos

REGISTERED OFFICE:

Granville Hall

Granville Road

Leicester

LE1 7RU

REGISTERED NUMBER:

01528523 (England and Wales)

SENIOR STATUTORY AUDITOR:

Elena Waddingham ACA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

CURRENT ASSETS

Stocks

4

30,321

62,994

Debtors

5

79,091

132,845

Cash at bank

60,110

52,694

169,522

248,533

CREDITORS

Amounts falling due within one year

6

1,169,965

1,314,608

NET CURRENT LIABILITIES

(1,000,443

)

(1,066,075

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,000,443

)

(1,066,075

)

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

8

(1,001,443

)

(1,067,075

)

SHAREHOLDERS' FUNDS

(1,000,443

)

(1,066,075

)

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 30 October 2026 and were signed on its behalf by:

Mr I Livitsanos - Director

1.	STATUTORY INFORMATION

Pyramis 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 (£).

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.

Going concern

The financial statements are prepared on a going concern basis. The validity of the going concern basis is dependent on the continued support of the ultimate parent company, Pyramis Metallourgia S.A. Pyramis Metallourgia S.A. has confirmed its continued support for a period of at least twelve months from the date of approval of these financial statements.

As a result of the above, the directors consider that the preparation of the financial statements on a going concern basis remains appropriate.

Related party exemption

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 members of the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover represents income from the import and distribution of domestic sinks and accessories to the UK market excluding value added tax, together with commissions earned based upon the services provided to its parent company.

Turnover is recognised in the accounting period in which the company obtains the right to consideration in exchange for its performance being on delivery of the goods.

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.

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, where material, at amortised cost using the effective interest method, less any impairment.

Creditors

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

3.	EMPLOYEES AND DIRECTORS

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

4.

STOCKS

2025

2024

£

£

Finished goods

30,321

62,994

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

73,731

114,414

Other debtors

5,360

18,431

79,091

132,845

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

29,812

4,315

Amounts owed to group undertakings

1,105,693

1,166,134

Taxation and social security

6,786

11,230

Other creditors

27,674

132,929

1,169,965

1,314,608

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.

RESERVES

Retained

earnings

£

At 1 January 2025

(1,067,075

)

Profit for the year

65,632

At 31 December 2025

(1,001,443

)

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

The Report of the Auditors was qualified on the following basis:

Basis for Qualified Opinion

The Company held inventory with a carrying value of £30,321 at 31 December 2025. We were appointed as auditor after the year-end and were therefore unable to attend the physical stock count conducted at that date. Owing to the nature of the company's records, we were unable to satisfy ourselves by alternative means concerning the quantities and condition of inventory held at the year-end.

Consequently, we were unable to determine whether any adjustments were necessary in respect of inventory, cost of sales, profit for the year, retained earnings and the related disclosures in the financial statements.

Elena Waddingham ACA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

10.	RELATED PARTY DISCLOSURES

At 31 December 2025 the company owed £1,105,693 (2024: £1,166,134) to the parent company, Pyramis Metallourgia S.A.

11.	ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Pyramis Metallourgia S.A. a company incorporated in Greece.