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Registration number: 10434707

Industrial Scientific Holdings UK Ltd Directors' Report and Financial Statements for the Year Ended 31 December 2024

Industrial Scientific Holdings UK Ltd

Contents

Company Information | 1
Statement of Directors' Responsibilities | 2
Balance Sheet | 3
Notes to the Financial Statements | 4 to 8

Industrial Scientific Holdings UK Ltd

Company Information

Directors | I Genesio G G Boorman A J Schmid

Registered office | Suite 1 Bollin House Wilmslow Cheshire SK9 1DP

Auditors | Howsons (Audit & Assurance) Limited Chartered Accountants and Statutory Auditors Winton House Stoke Road Stoke on Trent Staffordshire ST4 2RW

Industrial Scientific Holdings UK Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report 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). 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 apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

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

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

Industrial Scientific Holdings UK Ltd

(Registration number: 10434707)
Balance Sheet as at 31 December 2024

| Note | 2024 $ | 2023 $
Fixed assets |  |  |
Investments | 4 | 58,672,535 | 61,713,739
Current assets |  |  |
Debtors | 5 | 1,099,667 | 902,045
Cash at bank and in hand |  | 1,091,455 | 1,829
|  | 2,191,122 | 903,874
Creditors: Amounts falling due within one year | 6 | (12,148) | (6,495)
Net current assets |  | 2,178,974 | 897,379
Total assets less current liabilities |  | 60,851,509 | 62,611,118
Creditors: Amounts falling due after more than one year | 6 | (39,080,112) | (43,067,712)
Net assets |  | 21,771,397 | 19,543,406
Capital and reserves |  |  |
Called up share capital | 8 | 630,101 | 630,101
Share premium reserve |  | 12,108,738 | 12,108,738
Retained earnings |  | 9,032,558 | 6,804,567
Shareholders' funds |  | 21,771,397 | 19,543,406

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 November 2025 and signed on its behalf by:

......................................... I Genesio Director |  |

Industrial Scientific Holdings UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 1
Bollin House
Wilmslow
Cheshire
SK9 1DP
United Kingdom

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements show results for the individual company only.

The company's presentational currency is US Dollars ($). The accounts are rounded to the nearest whole dollar.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 4 November 2025 was James Parr FCCA, who signed for and on behalf of Howsons (Audit & Assurance) Limited.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Industrial Scientific Holdings UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Industrial Scientific Holdings UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.
Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.
Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

Industrial Scientific Holdings UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

4 | Investments

| 2024 $ | 2023 $
Investments in subsidiaries | 58,672,535 | 61,713,739

Subsidiaries | $
Cost or valuation
At 1 January 2024 | 61,713,739
Provision | 3,041,204
Carrying amount
At 31 December 2024 | 58,672,535
At 31 December 2023 | 61,713,739

5 | Debtors

| Note | 2024 $ | 2023 $
Amounts owed by related parties | 9 | 679,138 | 725,413
Deferred tax assets |  | 420,529 | 176,632
|  | 1,099,667 | 902,045

6 | Creditors

| Note | 2024 $ | 2023 $
Due within one year |  |  |
Other creditors |  | 12,148 | 6,495
Due after one year |  |  |
Loans and borrowings | 7 | 39,080,112 | 43,067,712

Industrial Scientific Holdings UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

7 | Loans and borrowings

Non-current loans and borrowings

| 2024 $ | 2023 $
Other borrowings | 39,080,112 | 43,067,712

Included in the loans and borrowings are the following amounts due after more than five years:

Other loans after five years

Creditors include a loan not repayable by installments of $39,080,112 (2023 - $43,067,712) from a group company due after more than five years. Interest on this loan is charged at an interest rate of 4.93%.

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | $ | No. | $
Ordinary shares of $1 each | 630,101 | 630,101 | 630,101 | 630,101

9 | Related party transactions

The company has taken advantage of the exemption allowed under FRS 102 paragraph 33.1A not to disclose details of transactions with entities that are wholly owned members of a group.

10 | Parent and ultimate parent undertaking

The company's immediate parent is Industrial Scientific Corporation, incorporated in the United States of America.
The most senior parent entity producing publicly available financial statements is Fortive Corporation. These financial statements are available upon request from Fortive Corporation's website (www.fortive.com).

11 | Going Concern

The company has the financial support of a parent company, Industrial Scientific Corporation for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report and accounts.