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REGISTERED NUMBER: 10009215 (England and Wales)

Directors' Report and

Audited Financial Statements for the Year Ended 28 February 2025

for

Modulus Technology Limited

Modulus Technology Limited (Registered number: 10009215)

Contents of the Financial Statements

for the Year Ended 28 February 2025

Page |

Company Information | 1 |

Directors' Report | 2 |

Balance Sheet | 4 |

Notes to the Financial Statements | 5 |

Modulus Technology Limited

Company Information

for the Year Ended 28 February 2025

| Directors: | Mr A P Darling

| Mr N M MacDonald

| Registered office: | Marine House

| Marine Park

| Gapton Hall Road

| Great Yarmouth

| Norfolk

| NR31 0NB

| Registered number: | 10009215 (England and Wales)

| Senior statutory auditor: | Henry Pettitt FCA CTA

| Auditors: | Stephenson Smart (East Anglia) Limited

| Statutory Auditor

| East Coast House

| Galahad Road

| Gorleston

| Great Yarmouth

| Norfolk

| NR31 7RU

Modulus Technology Limited (Registered number: 10009215)

Directors' Report

for the Year Ended 28 February 2025

The directors present their report with the financial statements of the company for the year ended 28 February 2025.

Principal activity

The principal activity of the company in the year under review was that of the manufacture of electronic measuring, testing, equipment, not for industrial process control.

Directors

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

Mr A P Darling

Mr N M MacDonald

Statement of directors' responsibilities

The directors are responsible for preparing the Directors' 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), including Financial Reporting Standard 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;

- | 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.

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.

Auditors

The auditors, Stephenson Smart (East Anglia) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Modulus Technology Limited (Registered number: 10009215)

Directors' Report

for the Year Ended 28 February 2025

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

Mr A P Darling - Director

14 November 2025

Modulus Technology Limited (Registered number: 10009215)

Balance Sheet

28 February 2025

2025 | 2024 |

as restated |

| Notes | £ | £

Fixed assets

Tangible assets | 6 | 17,383 |  | 38,430 |  |

Current assets

Debtors | 7 | 279,974 |  | 254,098 |  |

Cash at bank | 810 |  | 6,704 |  |

280,784 |  | 260,802 |  |

Creditors

Amounts falling due within one year | 8 | (8,142 | ) | (14,237 | ) |

Net current assets | 272,642 |  | 246,565 |  |

Total assets less current liabilities | 290,025 |  | 284,995 |  |

Provisions for liabilities | (4,346 | ) | (6,009 | ) |

Net assets | 285,679 |  | 278,986 |  |

Capital and reserves

Called up share capital | 100 |  | 100 |  |

Retained earnings | 285,579 |  | 278,886 |  |

285,679 |  | 278,986 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2025 and were signed on its behalf by:

Mr A P Darling - Director

Modulus Technology Limited (Registered number: 10009215)

Notes to the Financial Statements

for the Year Ended 28 February 2025

1. | Statutory information

| Modulus Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | Statement of compliance

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Key estimation and judgements are utilised for the calculation of deferred tax and depreciation, which use managements knowledge of the company, its future performance and asset maintenance schedule.

| The recoverability of debtors is deemed to reflect estimation uncertainty as it is entirely made up of wholly owned subsidiary balances and is subject to management bias on the recoverability on demand, the financial strength of debtors within the financial statements have been considered and are deemed fully recoverable.

| The residual value of fixed assets within the financial statements are determined based on the depreciation policies provided at the discretion of management, the depreciation estimation included provides a true and fair application of the depreciation accounting policy disclosed.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| The company provides equipment repairs both in the United Kingdom and worldwide. Turnover is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on dispatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Modulus Technology Limited (Registered number: 10009215)

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

3. | Accounting policies - continued

| Financial instruments

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Debt instruments are subsequently measured at amortised cost.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Modulus Technology Limited (Registered number: 10009215)

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

3. | Accounting policies - continued

| Leasing commitments

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

| Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

| Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

| Depreciation

| Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery - 20% or 25% on cost

| Computer equipment - 25% on cost

| Cash and cash equivalents

| Cash and cash equivalents in the accounts comprises of cash at bank and in hand converted to the presentational currency at the balance sheet date.

4. | Employees and directors

| The average number of employees during the year was 2 (2024 - 2 ) .

5. | Auditors' remuneration

2025 | 2024 |

as restated |

| £ | £

| Fees payable to the company's auditors for the audit of the company's financial statements | 4,750 |  | 3,250 |  |

Modulus Technology Limited (Registered number: 10009215)

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

6. | Tangible fixed assets

Plant and | Computer |

machinery | equipment | Totals |

| £ | £ | £

| Cost

| At 1 March 2024 | 135,879 |  | 1,369 |  | 137,248 |  |

| Disposals | (15,024 | ) | - |  | (15,024 | ) |

| At 28 February 2025 | 120,855 |  | 1,369 |  | 122,224 |  |

| Depreciation

| At 1 March 2024 | 97,808 |  | 1,010 |  | 98,818 |  |

| Charge for year | 16,549 |  | 343 |  | 16,892 |  |

| Eliminated on disposal | (10,869 | ) | - |  | (10,869 | ) |

| At 28 February 2025 | 103,488 |  | 1,353 |  | 104,841 |  |

| Net book value

| At 28 February 2025 | 17,367 |  | 16 |  | 17,383 |  |

| At 29 February 2024 | 38,071 |  | 359 |  | 38,430 |  |

7. | Debtors: amounts falling due within one year |

2025 | 2024 |

as restated |

| £ | £

| Trade debtors | - |  | 28,955 |  |

| Amounts owed by group undertakings | 279,974 |  | 225,143 |  |

279,974 |  | 254,098 |  |

8. | Creditors: amounts falling due within one year |

2025 | 2024 |

as restated |

| £ | £

| Trade creditors | 21 |  | 115 |  |

| Taxation and social security | 3,121 |  | 9,661 |  |

| Other creditors | 5,000 |  | 4,461 |  |

8,142 |  | 14,237 |  |

9. | Disclosure under Section 444(5B) of the Companies Act 2006

| The report of the Auditors was unqualified.

| The senior statutory auditor was Henry Pettitt FCA CTA .

| The statutory auditor was Stephenson Smart (East Anglia) Limited.

Modulus Technology Limited (Registered number: 10009215)

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

10. | Related party disclosures

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. | Ultimate controlling party

| The parent company and controlling party is AAE Technologies Ltd

| The registered office of AAE Technologies Ltd is Marine House, Marine Park, Gapton Hall Road, Great Yarmouth, Norfolk, NR31 0NB. The group consolidated accounts are available from the Registrar of Companies.