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Registered number: 13894113 PERGOLUX UK LTD FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
PERGOLUX UK LTD REGISTERED NUMBER: 13894113 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 14,230 |  | 13,377
|  |  | 14,230 |  | 13,377
Current assets |  |  |  |  |
Stocks | 5 | 1,839,631 |  | 1,661,116 |
Debtors: amounts falling due within one year | 6 | 925,575 |  | 608,294 |
Cash at bank and in hand | 7 | 262,260 |  | 404,709 |
|  | 3,027,466 |  | 2,674,119 |
Creditors: amounts falling due within one year | 8 | (1,825,497) |  | (1,990,612) |
Net current assets |  |  | 1,201,969 |  | 683,507
Total assets less current liabilities |  |  | 1,216,199 |  | 696,884
Provisions for liabilities |  |  |  |  |
Deferred taxation |  | (2,530) |  | (3,219) |
|  |  | (2,530) |  | (3,219)
Net assets |  |  | 1,213,669 |  | 693,665
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 1 |  | 1
Profit and loss account |  |  | 1,213,668 |  | 693,664
|  |  | 1,213,669 |  | 693,665
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
J Lauchenauer
Director
Date: 18 June 2026
The notes on pages 2 to 10 form part of these financial statements. Page 1
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Pergolux UK Ltd is a limited liablity company incorporated in England and Wales. The address of its registered office is 11 Eyston Way, Abingdon, England, OX14 1TR. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis. In assessing whether the going concern assumption is appropriate, the directors have considered the company’s financial position, forecasts and cash flow projections for a period of at least twelve months from the date of approval of the financial statements. The directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors believe that it is appropriate to prepare the financial statements on a going concern basis.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 2
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 3
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the basis shown below. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% straight line
|  |  |  | Office equipment | - | 25% reducing balance
|  |  |  | Computer equipment | - | 33% straight line
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 4
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 2.12 | 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 at amortised cost using the effective interest method, less any impairment.
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.15 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.16 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Page 5
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.16 | Financial instruments (continued)
Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
3. | Employees
| The average monthly number of employees, including directors, during the year was 13 (2024 - 6).
Page 6
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Plant and machinery | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2025 | 9,437 | 6,493 | 2,373 | 18,303
| Additions | 3,490 | 5,730 | - | 9,220
| Disposals | - | - | (2,373) | (2,373)
| At 31 December 2025 | 12,927 | 12,223 | - | 25,150
| Depreciation |  |  |  |
| At 1 January 2025 | 2,090 | 2,746 | 90 | 4,926
| Charge for the year on owned assets | 2,343 | 3,741 | - | 6,084
| Disposals | - | - | (90) | (90)
| At 31 December 2025 | 4,433 | 6,487 | - | 10,920
| Net book value |  |  |  |
| At 31 December 2025 | 8,494 | 5,736 | - | 14,230
| At 31 December 2024 | 7,347 | 3,747 | 2,283 | 13,377
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Stock | 1,839,631 | 1,661,116
|  | 1,839,631 | 1,661,116
Page 7
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 288,814 | 200,507
| Amounts owed by group undertakings | - | 5,796
| Other debtors | 428,014 | 209,697
| Prepayments and accrued income | 208,747 | 192,294
|  | 925,575 | 608,294
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 262,260 | 404,709
|  | 262,260 | 404,709
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 673,541 | 356,965
| Amounts owed to group undertakings | 624,738 | 915,607
| Corporation tax | - | 65,836
| Other taxation and social security | 308,141 | 174,164
| Other creditors | 2,593 | 948
| Accruals and deferred income | 216,484 | 477,092
|  | 1,825,497 | 1,990,612
Page 8
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (3,219)
| Charged to profit or loss | 689
| At end of year | (2,530)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 2,530 | 3,219
|  | 2,530 | 3,219
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Oridinary share of £1.00 | 1 | 1
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,465 (2024 - £2,707). Contributions totalling £2,593 (2024 - £943) were payable to the fund by the Company at the balance sheet date and are included in creditors.
12. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 295,327 | 295,327
| Later than 1 year and not later than 5 years | 861,370 | 1,156,697
|  | 1,156,697 | 1,452,024
Page 9
PERGOLUX UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | Related party transactions
| The Company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the parent company or any wholly owned subsidiary of the group.
14. | Controlling party
The Company’s ultimate parent undertaking is Pergolux International AS, a company incorporated in Norway.
15. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was qualified. The qualification in the audit report was as follows: We were not appointed as auditor of the company until after 31 December 2024 and therefore did not observe the counting of the inventory at that date or at 1 January 2024. We were unable to satisfy ourselves by alternative means concerning the opening inventory quantities, which amounted to £323,268. Consequently we were unable to determine whether any adjustment to this amount at 31 December 2024 was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2025. The audit report was signed on 18 June 2026 by Darren O'Connor BSc (Hons) FCCA ACA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.
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