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REGISTERED NUMBER: 02327794 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 December 2024 |

| for |

| Bertin Exensor Limited |

| Bertin Exensor Limited (Registered number: 02327794) |

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Notes to the Financial Statements | 13 |

| Bertin Exensor Limited |

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | B Vallayer

| W W Tucker

| SECRETARY: | W W Tucker

| REGISTERED OFFICE: | Unit 1 Stoken Farm

| Steventon

| Basingstoke

| Hampshire

| RG25 3BD

| REGISTERED NUMBER: | 02327794 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Mark Bathgate FCA

| AUDITORS: | Constantin

| Chartered Accountants & Statutory Auditor

| 25 Hosier Lane

| London

| EC1A 9LQ

| Bertin Exensor Limited (Registered number: 02327794) |

Strategic Report

for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

The principal activity of the company during the year was manufacture and supply of sensors, primarily for the Defence sector. The products range from seismic acoustic sensors to cameras. The majority of Sales are to other NATO end users via our Parent Company and with the minority to the UK Ministry of Defence.

REVIEW OF BUSINESS

During the year, the company generated turnover of £12,623,923 (prior year: £15,856,793) and an operating profit of £797,635 (prior year: £582,496).

Key factors affecting performance during the year included:

• Change of direct to indirect sales via our Parent company. This ratio primarily affects the revenue as operating profit is primarily based on intercompany transfer pricing agreements.

• 2023 business was driven primarily by licensed manufacturing contract with lower margin compared to the normal contract manufacturing activities.

The Directors are satisfied with the performance of the company during the year and consider the results to be in line with expectations.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors consider the following to be the principal risks and uncertainties facing the company:

Market risk: Defence budgets have a positive long term trend with increasing commitments from NATO partners. However, the timing of available budget could affect the Group's business. The company manages this through strong financial controls along with the continued support of the wider Group.

Operational risk: Global Supply chains have been disrupted due to Macro-Economic events, particularly regarding raw materials. Ensuring that the company is not wholly reliant on one source or nation for sub-components remains a constant challenge. The company has actively second sourced most of the critical components to minimise this risk where possible.

Currency risk: With a significant proportion of revenue coming from export sales, exchange rates could have an adverse effect on the accounts. Where possible, the Company works with Great British Pounds to eliminate this risk.

Regulatory risk: Export Control of some products remains a managed risk and we actively retain trained personnel to ensure continued compliance.

KEY PERFORMANCE INDICATORS (KPIS)

The Directors monitor the performance of the business using a range of financial key performance indicators. The key indicators for the year were as follows:

KPI |  | 2024 |  | 2023 |

Turnover |  | £12,623,923 |  | £15,856,793 |

Operating profit |  | £797,635 |  | £582,496 |

Operating profit margin |  | 6.3% |  | 3.7% |

FUTURE DEVELOPMENTS AND POST BALANCE SHEET EVENTS

Since the year end multiple new contracts have been signed which will continue to fill the manufacturing capacity available. In addition the Company welcomes the launch of the Strategic Defence Review that provides long-term certainty to the UK Defence Sector, particularly with respect to sensors and AI. It is foreseen that this will open up new opportunities for the product range in the coming years.

| Bertin Exensor Limited (Registered number: 02327794) |

Strategic Report

for the Year Ended 31 December 2024

ENVIRONMENTAL, EMPLOYEE AND SOCIAL MATTERS

The company is committed to operating in a socially and environmentally responsible manner. During the year the company:

• Continued efforts to reduce its Carbon Footprint and is committed to Net-Zero by 2050. Since 2021 the company has reduced its energy usage by 32.8% through various means such as LED lighting and new, modern heating systems.

• Completed its Social Values report with 'This is Purpose' outlining how the Company will support its staff and local community in the coming years. The Company is proud that it is one of the first UK SMEs that has launched this type of report with Government backing.

• Maintained continued compliance with ISO 9001 and ISO 14001 to uphold our standards in quality and the environment.

• Increased the percentage of waste recycled by 24.1% since 2021.

The company maintained employee engagement through flexible working policies and hosting various social events throughout the year. Of note was the introduction of an annual all-staff trip to our Parent Company to facilitate closer working relationships.

APPROVAL OF THE STRATEGIC REPORT

The directors have completed an exercise on the future projections of the company and concluded that it continues to be a going concern. The directors are confident of being able to trade for a period of at least 12 months from the approval of the financial statements.

This strategic report was approved by the Board of Directors on 12th September 2025 and signed on its behalf by Will Tucker (director)

ON BEHALF OF THE BOARD:

W W Tucker - Director

12 September 2025

| Bertin Exensor Limited (Registered number: 02327794) |

Report of the Directors

for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of design, development, manufacture, sale and service of advanced electronic systems and equipment for military and industrial applications.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

B Vallayer

W W Tucker

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 FRS 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;

- state whether applicable UK Accounting Standards have been followed; and

- 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.

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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.

| Bertin Exensor Limited (Registered number: 02327794) |

Report of the Directors

for the Year Ended 31 December 2024

AUDITORS

The auditors, Constantin, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

W W Tucker - Director

12 September 2025

Report of the Independent Auditors to the Members of

Bertin Exensor Limited

Report on the audit of the financial statements

Opinion

In our opinion the financial statements of Bertin Exensor Limited (the 'company'):

- give a true and fair view of the state of the company's affairs as at 31st December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"; and

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

We have audited the financial statements which comprise:

- the Income Statement;

- the statement of comprehensive income;

- the balance sheet;

- the statement of changes in equity;

- the statement of accounting policies; and

- the related notes 1 to 19.

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).

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 auditor's 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 Financial Reporting Council's (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 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.

Responsibilities of directors

Report of the Independent Auditors to the Members of

Bertin Exensor Limited

As explained more fully in the directors' responsibilities statement, 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 is 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.

Auditor's 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 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.

A further description of our responsibilities for the audit of the financial statements is located on the FRC's website at: www.frc.org.uk/auditors responsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

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.

We considered the nature of the company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management and the directors about their own identification and assessment of the risks of irregularities, including those that are specific to the company's business sector.

We obtained an understanding of the legal and regulatory framework[s] that the company operates in, and identified the key laws and regulations that:

- had a direct effect on the determination of material amounts and disclosures in the financial statements. This included UK Companies Act and tax legislation; and

- do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. This included Export Control Order 2008 (UK), NIS2 Directive (EU) and DSPCR 2011(UK) among others.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

- reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- enquiring of management and in-house legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and

- reading minutes of meetings of those charged with governance.

Report on other legal and regulatory requirements

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 strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

Report of the Independent Auditors to the Members of

Bertin Exensor Limited

- 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 any material misstatements in the strategic report or the directors' report.

Matters on which we are required to report by exception

Under the Companies Act 2006 we are required to report in respect of the following matters 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.

We have nothing to report in respect of these matters.

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 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.

Mark Bathgate FCA (Senior Statutory Auditor)

for and on behalf of Constantin

Chartered Accountants & Statutory Auditor

25 Hosier Lane

London

EC1A 9LQ

12 September 2025

| Bertin Exensor Limited (Registered number: 02327794) |

Income Statement

for the Year Ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

TURNOVER | 12,623,923 |  | 15,856,793 |  |

Cost of sales | 10,554,986 |  | 13,576,544 |  |

GROSS PROFIT | 2,068,937 |  | 2,280,249 |  |

Administrative expenses | 1,271,302 |  | 1,697,753 |  |

OPERATING PROFIT | 4 | 797,635 |  | 582,496 |  |

Interest receivable and similar income | 3,003 |  | 403 |  |

800,638 |  | 582,899 |  |

Interest payable and similar expenses | 5 | 3,870 |  | 40,422 |  |

PROFIT BEFORE TAXATION | 796,768 |  | 542,477 |  |

Tax on profit | 6 | 203,262 |  | 122,598 |  |

PROFIT FOR THE FINANCIAL YEAR | 593,506 |  | 419,879 |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Other Comprehensive Income

for the Year Ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

PROFIT FOR THE YEAR | 593,506 |  | 419,879 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 593,506 |  | 419,879 |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Balance Sheet

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 7 | - |  | - |  |

Tangible assets | 8 | 94,299 |  | 42,031 |  |

94,299 |  | 42,031 |  |

CURRENT ASSETS

Stocks | 9 | 2,700,456 |  | 2,529,987 |  |

Debtors | 10 | 3,763,405 |  | 1,315,075 |  |

Cash at bank and in hand | 135,071 |  | 3,198,965 |  |

6,598,932 |  | 7,044,027 |  |

CREDITORS

Amounts falling due within one year | 11 | 3,142,285 |  | 4,097,641 |  |

NET CURRENT ASSETS | 3,456,647 |  | 2,946,386 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,550,946 |  | 2,988,417 |  |

PROVISIONS FOR LIABILITIES | 14 | 61,405 |  | 92,382 |  |

NET ASSETS | 3,489,541 |  | 2,896,035 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 1,059,861 |  | 1,059,861 |  |

Retained earnings | 16 | 2,429,680 |  | 1,836,174 |  |

SHAREHOLDERS' FUNDS | 3,489,541 |  | 2,896,035 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

W W Tucker - Director

| Bertin Exensor Limited (Registered number: 02327794) |

Statement of Changes in Equity

for the Year Ended 31 December 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 1,059,861 |  | 1,416,295 |  | 2,476,156 |  |

Changes in equity

Total comprehensive income | - |  | 419,879 |  | 419,879 |  |

Balance at 31 December 2023 | 1,059,861 |  | 1,836,174 |  | 2,896,035 |  |

Changes in equity

Total comprehensive income | - |  | 593,506 |  | 593,506 |  |

Balance at 31 December 2024 | 1,059,861 |  | 2,429,680 |  | 3,489,541 |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Bertin Exensor 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The Company has taken advantage of Financial Reporting Standard 102 section 1.12 "Reduce disclosure for subsidiaries". The Company is a qualifying entity within a group whose financial statements are publicly

| available. The following disclosure exemptions were taken:

| (a) The requirements of Section 4 Statement of Financial Position paragraph 4.12(1)(iv)

| (b) The requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation

| paragraph 33.17(d)

| (c) The requirement of Section 33 Related Party Disclosures paragraph 33.7

| Turnover

| Turnover represents the value of services provided or goods manufactured under contracts recognized based on the percentage of completion. Revenue is recognized to the extent that there is a right to consideration, measured at the value of consideration due. For contracts that are partially completed as of the balance sheet date, revenue is recognized proportionally to the progress made toward satisfying the performance obligation, typically determined by input or output measures, provided the right to consideration has been established.

| Goodwill

| Goodwill has been fully amortised.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Leasehold property | - | 10% on cost

| Plant and machinery | - | 20% on cost

| Office furniture and equipment | - | 20% on cost

| Motor Vehicles | - | 20% on cost and 10% on cost

| Computer equipment | - | 20% on cost

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs include only direct expenditure.

| 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.

| Bertin Exensor Limited (Registered number: 02327794) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| Leases

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

| Operating lease rentals are charged to the profit and loss account in accordance with the payments made in respect of the individual lease agreements.

| 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.

| Critical judgements in applying the company’s accounting policies

| The following are the critical judgements, apart from those involving estimations (which are dealt with separately below), that the Directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

| i) Revenue recognition timing - Judgement is required in determining the appropriate timing of revenue recognition for certain projects that do not follow a standard percentage-of-completion methodology. These include manually tracked or billing-based projects. Contractual terms and the substance of the arrangement are considered when applying the revenue recognition policy.

| Key sources of estimation uncertainty

| The key assumptions concerning the future, and other key sources of estimation uncertainty at the balance sheet date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are discussed below.

| i) Percentage-of-completion revenue recognition - Estimating project progress, total contract costs, and future profitability requires ongoing reassessment and can materially impact revenue and margin recognition.

| ii) Provisions - These are made using the best estimates of the obligations, taking into account the likelihood, timing, and magnitude of potential outflows.

3. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 1,227,555 |  | 1,428,623 |  |

| Social security costs | 118,409 |  | 127,740 |  |

| Other pension costs | 22,799 |  | 39,065 |  |

1,368,763 |  | 1,595,428 |  |

| The average number of employees during the year was as follows:

| 2024 |  | 2023

| Staff | 23 |  | 24 |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | EMPLOYEES AND DIRECTORS - continued

| 2024 |  | 2023

£ | £ |

| Directors' remuneration | 98,434 |  | 284,255 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2024 |  | 2023

£ | £ |

| Hire of plant and machinery | 1,861 |  | 2,706 |  |

| Depreciation - owned assets | 8,362 |  | 1,398 |  |

| Auditors' remuneration 2023 | 32,151 |  | - |  |

| Auditors' remuneration 2024 | 30,000 |  | - |  |

| Foreign exchange differences | (108,075 | ) | 193,958 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Bank interest | - |  | 116 |  |

| Interest expenses from group | 3,855 |  | 40,306 |  |

| HMRC Interest | 15 |  | - |  |

3,870 |  | 40,422 |  |

6. | TAXATION

| Analysis of the tax charge

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

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | 185,782 |  | 122,598 |  |

| Deferred tax | 17,480 |  | - |  |

| Tax on profit | 203,262 |  | 122,598 |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

6. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2024 |  | 2023

£ | £ |

| Profit before tax | 796,768 |  | 542,477 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%) | 199,192 |  | 127,591 |  |

| Effects of:

| Expenses not deductible for tax purposes | 68 |  | 43 |  |

| Deferred tax on temporary differences not recognised | 4,002 |  | (5,036 | ) |

| Total tax charge | 203,262 |  | 122,598 |  |

7. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 63,812 |  |

| AMORTISATION

| At 1 January 2024

| and 31 December 2024 | 63,812 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  |

| At 31 December 2023 | - |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

8. | TANGIBLE FIXED ASSETS

| Office

| furniture

| Leasehold |  | Plant and |  | and

| property |  | machinery |  | equipment

£ | £ | £ |

| COST

| At 1 January 2024 | 210,319 |  | 51,479 |  | 41,869 |  |

| Additions | 16,905 |  | 32,905 |  | - |  |

| At 31 December 2024 | 227,224 |  | 84,384 |  | 41,869 |  |

| DEPRECIATION

| At 1 January 2024 | 191,023 |  | 51,479 |  | 41,869 |  |

| Charge for year | 2,950 |  | 1,180 |  | - |  |

| At 31 December 2024 | 193,973 |  | 52,659 |  | 41,869 |  |

| NET BOOK VALUE

| At 31 December 2024 | 33,251 |  | 31,725 |  | - |  |

| At 31 December 2023 | 19,296 |  | - |  | - |  |

| Motor |  | Computer |

| Vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 41,820 |  | 4,121 |  | 349,608 |  |

| Additions | 7,995 |  | 2,825 |  | 60,630 |  |

| At 31 December 2024 | 49,815 |  | 6,946 |  | 410,238 |  |

| DEPRECIATION

| At 1 January 2024 | 19,085 |  | 4,121 |  | 307,577 |  |

| Charge for year | 4,020 |  | 212 |  | 8,362 |  |

| At 31 December 2024 | 23,105 |  | 4,333 |  | 315,939 |  |

| NET BOOK VALUE

| At 31 December 2024 | 26,710 |  | 2,613 |  | 94,299 |  |

| At 31 December 2023 | 22,735 |  | - |  | 42,031 |  |

9. | STOCKS

2024 | 2023 |

£ | £ |

| Stock | 2,348,854 |  | 2,320,470 |  |

| Work-in-progress | 351,602 |  | 209,517 |  |

2,700,456 |  | 2,529,987 |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 64,080 |  | 256,342 |  |

| Other debtors | 282,667 |  | 935,815 |  |

| Due from related party | 3,398,910 |  | 58,813 |  |

| Tax | - |  | 60,431 |  |

| Prepayments | 17,748 |  | 3,674 |  |

3,763,405 |  | 1,315,075 |  |

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade creditors | 454,089 |  | 252,725 |  |

| Tax | 138,444 |  | 122,598 |  |

| Social security and other taxes | 45,734 |  | 46,874 |  |

| VAT | 20,881 |  | 2,505 |  |

| Other creditors | 6,839 |  | - |  |

| Due to related party | 1,975,163 |  | 2,932,965 |  |

| Accruals and deferred income | 501,135 |  | 739,974 |  |

3,142,285 |  | 4,097,641 |  |

12. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 | 2023 |

£ | £ |

| Within one year | 11,155 |  | 17,726 |  |

| Between one and five years | 11,879 |  | - |  |

23,034 |  | 17,726 |  |

13. | SECURED DEBTS

| There is a fixed and floating charge against all assets of the company in favour of National Westminster Bank Plc, dated 2 March 2017.

14. | PROVISIONS FOR LIABILITIES

|  | 2024 |  | 2023 |  |

| £ |  | £ |  |

| Deferred tax |  | 17,480 |  | - |  |

| Warranty provision |  | 43,925 |  | 92,382 |  |

|  | 61,405 |  | 92,382 |  |

| Deferred tax |  |

| £ |  |

| Charge to Income statement during year |  | 17,480 |  |

| Balance at 31 December 2024 on fixed asset timing differences |  | 17,480 |  |

| Bertin Exensor Limited (Registered number: 02327794) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 1,047,861 | Ordinary | £1 | 1,047,861 |  | 1,047,861 |  |

| 12,000 | 'A' Ordinary | £1 | 12,000 |  | 12,000 |  |

1,059,861 |  | 1,059,861 |  |

16. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | 1,836,174 |  |

| Profit for the year | 593,506 |  |

| At 31 December 2024 | 2,429,680 |  |

17. | ULTIMATE PARENT COMPANY

| Arkonia Holdings Limited owns 100% of the issued share capital of the company.

| The ultimate parent company is Exensor Security International AB (a company registered in Sweden).

18. | RELATED PARTY DISCLOSURES

| At the year end the company owed Bertin Exensor AB, its parent company, the sum of £264,804 (2023 £1,776,844). The company was owed by Bertin Exensor AB the sum of £3,398,910.

| At the year end the company owed Bertin Technologies, the intermediate parent company, £1,687,755 (2023 £1,077,975), Groupe Bertin Technologies, the ultimate controlling party, £8,353 (2023 £78,146) and Environics, a company owned by Bertin Technologies, £14,251.

19. | ULTIMATE CONTROLLING PARTY

| The controlling party are the directors of Arkonia Holdings Ltd which is ultimately controlled by Groupe Bertin Technologies of

| 10 bis, avenue Ampère

| Parc d’Activités du pas du Lac

| 78180 MONTIGNY-LE-BRETONNEUX

| France