Registered number: 02937462
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report together with the audited financial statements for the year ended 31 December 2025.
The Company continues to explore new markets and opportunities to increase the product offering with an increased number of lines coming from group companies in Europe. Sales are made predominantly to both the UK and Ireland to a lesser degree, overseas markets. The UK based distribution centre is fully bedded in and is now operating efficiently as a distribution hub for the geographic centric markets.
The board regularly reviews the customer base, in relation to its position in the market and the physical location of the client. With the increase in product lines, it is paramount that the sales team regularly review their increased customer portfolio to ensure that the company is trading as risk-free as possible. The Company undertakes credit insurance on those customers where insurance can be obtained, but more regular contact is made to those clients where a risk may be identified. For the customers with higher associated risk, we often trade on a non-credit account basis to mitigate further risk.
As such this higher risk may be identified and the business will look to ensure that clients pay in advance or provide deposits for product ordered to reduce this level of risk.
With the majority of sales being sterling denominated, the business faces a minimal risk from fluctuations in the sterling to Euro rate. The risk of buying components in non-domestic currency is still there, albeit at a lessor level as the component suppliers are now supplying the Group company manufacturing – and thus we buy intercompany.
Sales prices are set with customers each year based on the current intercompany price.
The company’s policy in respect of interest rate risk and liquidity risk is to maintain sufficient reserves to ensure the company has funds for operations. Cash deposits are held in current accounts. The company also has the benefit of liquidity from the larger group should it so be required and has indeed paid down a large proportion of the Group debt this year.
As such this higher risk may be identified and the business will look to ensure that clients pay in advance or provide deposits for product ordered to reduce this level of risk.
With the majority of sales being sterling denominated, the business faces a minimal risk from fluctuations in the sterling to Euro rate. The risk of buying components in non-domestic currency is still there, albeit at a lessor level as the component suppliers are now supplying the Group company manufacturing – and thus we buy intercompany.
Sales prices are set with customers each year based on the current intercompany price.
The company’s policy in respect of interest rate risk and liquidity risk is to maintain sufficient reserves to ensure the company has funds for operations. Cash deposits are held in current accounts. The company also has the benefit of liquidity from the larger group should it so be required and has indeed paid down a large proportion of the Group debt this year.
Page 1
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The results of the Company for the year, as set out on page 10, show a gross profit of £3.90 million (2024: £4.00 million).
The performance of the Company during the year has increased by 10.4% in terms of turnover but has decreased in terms of gross profit by 2.4% from last year from £4.00 million to £3.90 million.
Given the exceptional administrative expenses of £235k (2024: £31k, see note 5) the Company made a net loss during the year of £297k (2024: profit of £96k). At the reporting date the Company’s net assets were £411.8k (2024: £709.6k).
The board feels this is acceptable for this year given the creation of the manufacturing channels overseas and the market pressure on some of the more established products via competition.
The UK business has increased in the year by £946k (9.1%), coupled with the relocation of most of the European business £367k (158.8%) and overseas Rest of World business has decreased by £184k (85.0%) being transferred to Denmark in prior years. This has resulted in a more focused approach around product offering in the UK market and a strategic repositioning in Europe with the conscious decision to move away from the less profitable markets in the Middle East and Asia.
Since 2022 onward, the company is earning royalties from the products it has developed and that are sold by other companies of the group. In 2025 the company gained £196k of royalties.
The administrative expenses of the company have increased by £120k due to inflationary wage pressures but the cost base has reduced given the right-sizing of the operation in the UK over the previous two years.
Exceptional items incurred in the year are explained further in note 5.
The board feels the results for the current year are acceptable given the pressures in the marketplace and the changes to the organisation in the previous two years. These changes have positioned the company to allow a more focused customer outlook and experience when transacting with the company.
Business Environment
Some sectors in the UK market are under pressure from cheap imports with customers buying purely on price. However, the Company differentiates its product offering by extending warranty terms and providing an after-sales service team to ensure continuity of use. This is coupled with smaller competitors offering sales prices at very low margins as they do not carry the overhead that we do. However, due to the quality of the Dantherm and Calorex brands, and the wider group brands of Master, Trotec and Aerial the Company still competes well in the marketplace. We continually review the market for competitor’s products to stay abreast of changes both in terms of aesthetics and technology, and to ensure that all trademarks are being adhered too and we bring to market innovative solutions to differentiate ourselves from the cheaper brands.
The performance of the Company during the year has increased by 10.4% in terms of turnover but has decreased in terms of gross profit by 2.4% from last year from £4.00 million to £3.90 million.
Given the exceptional administrative expenses of £235k (2024: £31k, see note 5) the Company made a net loss during the year of £297k (2024: profit of £96k). At the reporting date the Company’s net assets were £411.8k (2024: £709.6k).
The board feels this is acceptable for this year given the creation of the manufacturing channels overseas and the market pressure on some of the more established products via competition.
The UK business has increased in the year by £946k (9.1%), coupled with the relocation of most of the European business £367k (158.8%) and overseas Rest of World business has decreased by £184k (85.0%) being transferred to Denmark in prior years. This has resulted in a more focused approach around product offering in the UK market and a strategic repositioning in Europe with the conscious decision to move away from the less profitable markets in the Middle East and Asia.
Since 2022 onward, the company is earning royalties from the products it has developed and that are sold by other companies of the group. In 2025 the company gained £196k of royalties.
The administrative expenses of the company have increased by £120k due to inflationary wage pressures but the cost base has reduced given the right-sizing of the operation in the UK over the previous two years.
Exceptional items incurred in the year are explained further in note 5.
The board feels the results for the current year are acceptable given the pressures in the marketplace and the changes to the organisation in the previous two years. These changes have positioned the company to allow a more focused customer outlook and experience when transacting with the company.
Business Environment
Some sectors in the UK market are under pressure from cheap imports with customers buying purely on price. However, the Company differentiates its product offering by extending warranty terms and providing an after-sales service team to ensure continuity of use. This is coupled with smaller competitors offering sales prices at very low margins as they do not carry the overhead that we do. However, due to the quality of the Dantherm and Calorex brands, and the wider group brands of Master, Trotec and Aerial the Company still competes well in the marketplace. We continually review the market for competitor’s products to stay abreast of changes both in terms of aesthetics and technology, and to ensure that all trademarks are being adhered too and we bring to market innovative solutions to differentiate ourselves from the cheaper brands.
The company’s success is dependent on updating its products, ensuring the internal specifications of all machines are kept in line with market changes, and being able to react quickly to customers’ needs by holding the correct seasonal stock in the warehouse to support the customers' requirements. Allied to this is a national service network that offers repairs and replacements backed up with a UK based service admin team to process the call-outs and maintain customer contact throughout the process.
The larger group business will continue to promote its products jointly to improve market share and brand recognition. To this end there has been significant investment in the UK entity to grow other Group brands into non-Pool and Commercial sectors in the domestic market. The business has several employees who work in Research and Development to ensure that all aspects of the product are monitored globally.
The larger group business will continue to promote its products jointly to improve market share and brand recognition. To this end there has been significant investment in the UK entity to grow other Group brands into non-Pool and Commercial sectors in the domestic market. The business has several employees who work in Research and Development to ensure that all aspects of the product are monitored globally.
Page 2
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
This report was approved by the board and signed on its behalf.
Page 3
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements 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 to 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.
The loss for the year, after taxation, amounted to £297,723 (2024 -profit £96,361).
No dividend is recommended.
The directors who served during the year were:
Page 4
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The UK business is pivotal to the group’s strategy for key growth plans in strategic geographical markets. The group determines that the UK market is not fully tapped in terms of potential market penetration and so are active in correcting that situation.
The directors and group technical teams continue to strive for technological advancements in the machines that are offered onto the domestic market and are constantly looking to enhance the product offering with alternatives that meet the needs of the customers whilst exploring opportunities for entering new markets with new solutions.
The directors are focused on the customer experience from initial point of contact through to commissioning and ongoing servicing and the directors are striving to be world leading and best in class. The UK continues to lead the way in this regard across the Dantherm Group.
The directors continue to run the UK business within a very rigorous budget framework that has been approved by the main Executive board. All elements of both revenue and cost are under constant scrutiny with a view to maximise the return for the group in terms of EBITDA and also net working capital focus to turn net working capital into cash to allow for the continued paydown of group debt.
The directors and group technical teams continue to strive for technological advancements in the machines that are offered onto the domestic market and are constantly looking to enhance the product offering with alternatives that meet the needs of the customers whilst exploring opportunities for entering new markets with new solutions.
The directors are focused on the customer experience from initial point of contact through to commissioning and ongoing servicing and the directors are striving to be world leading and best in class. The UK continues to lead the way in this regard across the Dantherm Group.
The directors continue to run the UK business within a very rigorous budget framework that has been approved by the main Executive board. All elements of both revenue and cost are under constant scrutiny with a view to maximise the return for the group in terms of EBITDA and also net working capital focus to turn net working capital into cash to allow for the continued paydown of group debt.
The Company has chosen in accordance with Section 414C(11) of the Companies Act 2006 (strategic report and Directors' Report) Regulations 2013 to set out within the Company’s Strategic Report , the information required by Schedule 7 of the Large and Medium Sized Companies and Groups (accounts and Reports) Regulation 2008. This includes financial risk management policies and objectives which have been included in the principal risks and uncertainties section.
The auditor, Menzies LLP, will be proposed for reappointment in accordance with section 487 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Page 5
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DANTHERM GROUP LIMITED
We have audited the financial statements of Dantherm Group Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, 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 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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
Page 6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DANTHERM GROUP LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Strategic Report or the Directors' Report.
Page 7
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DANTHERM GROUP LIMITED (CONTINUED)
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 an Auditor's Report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including:
∙Companies Act 2006;
∙Financial Reporting Standard 102; and
∙UK tax legislation
We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the Company is complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of board minutes.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. No issues were identified in this area.
We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
∙Posting of unusual journals and complex transactions
∙The use of management override of controls to manipulate results;or
∙Manipulation of accounting estimates
As a result of the above procedures, the engagement team performed audit procedures including:
∙Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
∙Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process
∙Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
∙Challenging assumptions and judgements made by management in the application of accounting estimates
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditor's Report.
Page 8
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DANTHERM GROUP LIMITED (CONTINUED)
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 an Auditor's Report 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
95 Gresham Street
EC2V 7AB
Page 9
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 10
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 28 form part of these financial statements.
Page 11
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 12
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Dantherm Group Limited is a private company limited by shares domiciled and incorporated in England and Wales. Its registered office is Unit 12 Galliford Road Industrial Estate, Heybridge, Maldon, Essex, England, CM9 4XD.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Polar Fox Holding I ApS, CVR no 42 60 83 35 as at 31 December 2025 and these financial statements may be obtained from Marienlystvej 65, DK-7800 Skive, Denmark.
Page 13
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The transition into a world class distribution facility in the UK is now complete, and the directors have continued to be focused on the creation of a multi-brand sales outlet based in Maldon. Allied to the sale of the products, is the offering of training and technical support to the extensive range of Group products to allow installers to adopt the “right first time” approach to minimise warranty call outs for new installations.
The Group, with its diversified product portfolio are in a significant position to capture significant market share in previously untapped markets and segments.
Following some further restructuring, the company has successfully positioned itself for significant growth in the coming years and has “right-sized” its cost base in the UK. This has resulted in a small loss for the year.
Domestic sales for the year are at £11.4m which is 9% up on 2024. Sales within Europe are also higher than 2024 by £368k with the majority being spare part sales to sister companies to support either their build of new machines or the repair of existing installations. Sales to the rest of the world were down £184k which reflects the Group’s strategy of parochial sales by geography.
Cost of sales is higher than 2024 by £1.2m being a reflection of the product mix sold throughout the year with a higher proportion of sister company items sold at a distribution margin – with the manufacturing margin staying in the producer entity.
Admin expenses are £313k higher than last year that included exceptional, one-off, restructuring costs which were £204k higher than last year.
Despite being loss making for the accounting period, the parent company in Denmark continue to support the entity and have plans to grow the territory both organically and through targeted acquisitions in the coming years. The UK and Eire market is still strategic to the Groups growth plans.
Group continue to look for nett working capital optimisation and are looking at centralised warehouse locations that best satisfy the needs to the customers, and Group have identified that the UK facility fully meets those objectives.
The biggest challenge facing the company is determining what to stock and in what quantity given the change in global climatic conditions that we are currently experiencing. In order to meet the demands of the customer, we need the correct product in stock with the correct quantity to match each of the four climatic conditions that trigger a spend decision from the customer
The directors continue to be cost focused, to improve margins and to excel in their service offering. Consequently, the Directors are of the opinion that it is appropriate to adopt the going concern basis in the preparing the financial statements.
The Group, with its diversified product portfolio are in a significant position to capture significant market share in previously untapped markets and segments.
Following some further restructuring, the company has successfully positioned itself for significant growth in the coming years and has “right-sized” its cost base in the UK. This has resulted in a small loss for the year.
Domestic sales for the year are at £11.4m which is 9% up on 2024. Sales within Europe are also higher than 2024 by £368k with the majority being spare part sales to sister companies to support either their build of new machines or the repair of existing installations. Sales to the rest of the world were down £184k which reflects the Group’s strategy of parochial sales by geography.
Cost of sales is higher than 2024 by £1.2m being a reflection of the product mix sold throughout the year with a higher proportion of sister company items sold at a distribution margin – with the manufacturing margin staying in the producer entity.
Admin expenses are £313k higher than last year that included exceptional, one-off, restructuring costs which were £204k higher than last year.
Despite being loss making for the accounting period, the parent company in Denmark continue to support the entity and have plans to grow the territory both organically and through targeted acquisitions in the coming years. The UK and Eire market is still strategic to the Groups growth plans.
Group continue to look for nett working capital optimisation and are looking at centralised warehouse locations that best satisfy the needs to the customers, and Group have identified that the UK facility fully meets those objectives.
The biggest challenge facing the company is determining what to stock and in what quantity given the change in global climatic conditions that we are currently experiencing. In order to meet the demands of the customer, we need the correct product in stock with the correct quantity to match each of the four climatic conditions that trigger a spend decision from the customer
The directors continue to be cost focused, to improve margins and to excel in their service offering. Consequently, the Directors are of the opinion that it is appropriate to adopt the going concern basis in the preparing the financial statements.
Page 14
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Page 15
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Page 16
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Page 17
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 18
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
A termination benefit is charged to the profit and loss immediately on recognition. A liability is recognised when an entity is demonstrably committed to terminate the employment of employees before normal retirement date.
The liability is recognised as the best estimate of the cost at the reporting date.
The liability is recognised as the best estimate of the cost at the reporting date.
Page 19
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
Stock provision:
Provision is made for obsolete, slow moving or defective items where appropriate given the nature of the item held. Management estimates for each type of stocks their ability to be sold, used or transferred at more than their book value in the foreseeable future, and recognises a provision where they judge it unlikely. The Company currently carries a provision of £Nil (2024: £Nil).
Warranty provision:
In relation to ongoing warranty cost there is a provision of £125k (2024: £125k) in the accounts to cover future estimated liabilities. The estimate of the warranty provision at the reporting date is based on an analysis of the past costs.
Dilapidation provision:
In relation to dilapidation cost there is a provision of £12.2k (2024: £12.2k) in the accounts to cover future estimated liability. The estimate is based on an estimated cost of painting internal walls of the offices.
Analysis of turnover by country of destination:
Page 20
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 21
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 22
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
There are no factors.
Page 23
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
Page 24
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
|||||
|
|
Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 26
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
Page 27
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Share premium account
Capital redemption reserve
Profit and loss account
Company pension contributions totalling £Nil (2024: £Nil ) were payable to policies at the year-end and are included in creditors.
The smallest group in which the results of the company are consolidated is that headed by Dantherm Holding A/S. A copy of the financial statements can be obtained from Marienlystvej 65, DK-7800 Skive, Denmark.
The largest group in which the results of the company are consolidated is that headed by Polar Fox Holding I ApS. A copy of the financial statements can be obtained from Marienlystvej 65, DK-7800 Skive, Denmark.
Page 28