REGISTERED NUMBER: 03353540 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 August 2025

for

Pantek Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

Mr J E Bailey

Mr I Bailey

Mrs C Bailey

SECRETARY:

Oakwood Corporate Secretary Limited

REGISTERED OFFICE:

Unit 1 Oakfield Road

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3GX

REGISTERED NUMBER:

03353540 (England and Wales)

AUDITORS:

Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

The directors present their strategic report of the company and the group for the year ended 31 August 2025.

REVIEW OF BUSINESS

Group revenue growth of 9% was achieved as we saw a mix of new market development coupled with greater penetration for our traditional product and service offering. The Pantek Group continues to invest significant amounts, around 5% of revenue in both product and market development. This is mainly centred on the development of our own Intellectual Property (software) within our M.A.C. Solutions (UK) Ltd subsidiary which has seen orders double from FY24. This particular investment is mid cycle and we remain committed to pursuit of our vision. Overall we expect Group profits to remain healthy despite the drag on performance as we transition to a more subscription-based business

Financial key performance indicators

2025

2024

Gross profit margin

51.71%

49.76%

Net profit margin

6.93%

8.87%

Debtor days

61

45

Creditor days

54

39

Stock turnover days

4

4

Non financial key performance indicators

- Customer satisfaction - measured using Net Promoter score

- Employee engagement - measured through Best Companies Survey and Sunday Times Top 100 program

- Sales effectiveness - revenue per employee and salesman

- Business mix - percentage of annuity business; percentage of non-Aveva business.

PRINCIPAL RISKS AND UNCERTAINTIES

Management continually monitors the key risks facing the business such as: economic indicators, competitor pressure, reliance on key suppliers, loss of key personnel, and reliance on key customers.

Economic indicators - the group acknowledges the importance of monitoring the economic climate to be able to identify the early signs of potential financial difficulties and opportunities. This is done in several ways including maintaining close relationships with our customers, system integrators and suppliers to share knowledge of our markets, whilst taking input from our relationships with Industry bodies and professional advisors, together with attendance at economic forum events.

Competitor pressure - the market in which the group operates is competitive. The group aims to combine its deep knowledge of the industrial environment with a blend of market leading products and services together with great customer service to build and maintain strong relationships with its key customers.

Reliance on key suppliers - the group has had an established relationship with its principal supplier since 1991. The importance of this relationship within the organisation is well understood and the group actively manages this relationship to ensure goals, objectives, and success for both parties are achieved. We have recently signed a new agreement with the principal supplier, becoming an Aveva Select Partner, giving us access to a larger portfolio of products. Management is also focussed on growing other parts of the business to compliment the offerings from our principal supplier.

Loss of key personnel - this would present significant operational difficulties for the group. Management seeks to ensure that key personnel are appropriately motivated and rewarded to ensure that good performance is recognised.

Reliance on key customers - the Group monitors the amount of revenue per customer to ensure that it is not over reliant on any one customer. The breadth of sectors within which the group operates helps to mitigate its exposure to individual customers.

The group's operations expose it to a variety of financial risks that include the effect of changes in debt market prices, credit risk, liquidity risk, exchange rate risk and interest rate risk. The group has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the group by monitoring levels of debt finance and the related finance costs. The group does not use derivative financial instruments to manage interest rate or exchange rate costs and as such, no hedge accounting is applied although forward currency contracts are at times utilised.

Given the size of the group the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by each group's finance department. The department has a policy and procedures manual that sets out specific guidelines to manage interest rate risk, credit risk, and circumstances where it would be appropriate to use financial instruments to manage these.

Credit risk

The group has implemented policies that require appropriate credit checks on potential customers before sales are made. Where debt finance is utilised, this is subject to pre-approval by the Board of Directors. The amount of exposure to any individual counterparty is subject to a limit reassessed annually by the board.

Liquidity risk

The group actively maintains a mixture of long- and short-term debt finance that is designed to ensure the group has sufficient available funds for operations and planned expansions.

FUTURE DEVELOPMENTS

The Group will pursue its goal of being a leading player in the convergence of Information and Operational Technology, bringing the benefits of the IT world to the industrial world. Our development plans include extending our SCADA expertise by broadening our product offering and extending our market reach through partner collaboration and to the new markets of Industrial digitalisation.

We will further support our customers by developing a portfolio of managed services allowing our customers to minimise the risks in managing their Industrial IT infrastructures.

ON BEHALF OF THE BOARD:

Mr J E Bailey - Director

19 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 August 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the provision of digital transformation solutions and services for the industrial world, in particular the manufacturing and infrastructure sectors.

DIVIDENDS

The total distribution of dividends for the year ended 31 August 2025 will be £ 3,240,000 .

DIRECTORS

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

Mr J E Bailey

Mr I Bailey

Mrs C Bailey

DISCLOSURE IN THE STRATEGIC REPORT

Future developments and principal risks and uncertainties are disclosed in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, 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 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Thompson Wright (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr J E Bailey - Director

19 December 2025

Opinion

We have audited the financial statements of Pantek Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 August 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

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

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including 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 group's and the parent 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the group through discussions with directors and other management, and from our commercial knowledge and experience of the IT industry;

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, and health and safety legislation as well as regulations relating to the management and storage of data as well as the safe disposal of electrical equipment.

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-performed analytical procedures to identify any unusual or unexpected relationships;

-tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation;

-reading the minutes of meetings of those charged with governance;

-enquiring of management as to actual and potential litigation and claims; and

-reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Jeremy Bostock FCA BFP BA(Hons) (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

19 December 2025

TURNOVER

3

27,911,820

25,665,800

Cost of sales

13,479,328

12,894,458

GROSS PROFIT

14,432,492

12,771,342

Administrative expenses

13,321,610

11,823,770

OPERATING PROFIT

5

1,110,882

947,572

Income from fixed asset investments

39,187

189,378

Interest receivable and similar income

222,504

147,476

261,691

336,854

1,372,573

1,284,426

(Profit)/loss on sale of current asset investment

6

(1,932,973

)

23,531

(Gain)/loss on revaluation of current asset investment

1,323,946

(1,041,994

)

(609,027

)

(1,018,463

)

1,981,600

2,302,889

Interest payable and similar expenses

7

46,683

25,383

PROFIT BEFORE TAXATION

1,934,917

2,277,506

Tax on profit

8

705,944

349,120

PROFIT FOR THE FINANCIAL YEAR

1,228,973

1,928,386

Profit attributable to:

Owners of the parent

1,110,242

1,836,268

Non-controlling interests

118,731

92,118

1,228,973

1,928,386

PROFIT FOR THE YEAR

1,228,973

1,928,386

OTHER COMPREHENSIVE INCOME

Currency translation differences

46,349

23,339

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

46,349

23,339

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,275,322

1,951,725

Total comprehensive income attributable to:

Owners of the parent

1,156,591

1,859,607

Non-controlling interests

118,731

92,118

1,275,322

1,951,725

FIXED ASSETS

Intangible assets

11

1,135,777

1,357,990

Tangible assets

12

401,036

382,711

Investments

13

-

-

1,536,813

1,740,701

CURRENT ASSETS

Stocks

14

121,776

157,339

Debtors

15

5,929,615

4,312,938

Investments

16

12,146,138

10,749,004

Cash at bank and in hand

6,512,947

6,111,295

24,710,476

21,330,576

CREDITORS

Amounts falling due within one year

17

14,912,110

9,384,143

NET CURRENT ASSETS

9,798,366

11,946,433

TOTAL ASSETS LESS CURRENT LIABILITIES

11,335,179

13,687,134

PROVISIONS FOR LIABILITIES

19

147,218

328,905

NET ASSETS

11,187,961

13,358,229

CAPITAL AND RESERVES

Called up share capital

20

10,000

10,000

Other reserves

21

233,375

233,375

Retained earnings

21

10,935,351

13,018,760

SHAREHOLDERS' FUNDS

11,178,726

13,262,135

NON-CONTROLLING INTERESTS

22

9,235

96,094

TOTAL EQUITY

11,187,961

13,358,229

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

Mr J E Bailey - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

5,611,351

5,611,351

5,611,351

5,611,351

CURRENT ASSETS

Debtors

15

185

185

Investments

16

12,146,138

10,749,004

Cash at bank

1,391

10,939

12,147,714

10,760,128

CREDITORS

Amounts falling due within one year

17

5,435,087

3,918,481

NET CURRENT ASSETS

6,712,627

6,841,647

TOTAL ASSETS LESS CURRENT LIABILITIES

12,323,978

12,452,998

PROVISIONS FOR LIABILITIES

19

84,551

260,500

NET ASSETS

12,239,427

12,192,498

CAPITAL AND RESERVES

Called up share capital

20

10,000

10,000

Retained earnings

21

12,229,427

12,182,498

SHAREHOLDERS' FUNDS

12,239,427

12,192,498

Company's profit for the financial year

3,286,929

7,394,444

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

Mr J E Bailey - Director

Called up

share

Retained

Other

capital

earnings

reserves

£

£

£

Balance at 1 September 2023

10,000

11,321,153

233,375

Changes in equity

Dividends

-

(162,000

)

-

Total comprehensive income

-

1,859,607

-

Balance at 31 August 2024

10,000

13,018,760

233,375

Changes in equity

Dividends

-

(3,240,000

)

-

Total comprehensive income

-

1,156,591

-

Balance at 31 August 2025

10,000

10,935,351

233,375

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 September 2023

11,564,528

31,028

11,595,556

Changes in equity

Dividends

(162,000

)

(27,052

)

(189,052

)

Total comprehensive income

1,859,607

92,118

1,951,725

Balance at 31 August 2024

13,262,135

96,094

13,358,229

Changes in equity

Dividends

(3,240,000

)

(205,591

)

(3,445,591

)

Total comprehensive income

1,156,591

118,731

1,275,322

Balance at 31 August 2025

11,178,726

9,234

11,187,960

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

10,000

4,950,054

4,960,054

Changes in equity

Dividends

-

(162,000

)

(162,000

)

Total comprehensive income

-

7,394,444

7,394,444

Balance at 31 August 2024

10,000

12,182,498

12,192,498

Changes in equity

Dividends

-

(3,240,000

)

(3,240,000

)

Total comprehensive income

-

3,286,929

3,286,929

Balance at 31 August 2025

10,000

12,229,427

12,239,427

Cash flows from operating activities

Cash generated from operations

1

2,039,154

2,299,381

Interest paid

(46,683

)

(25,382

)

Tax paid

(487,605

)

(61,287

)

Net cash from operating activities

1,504,866

2,212,712

Cash flows from investing activities

Purchase of tangible fixed assets

(131,555

)

(126,019

)

Sale of tangible fixed assets

349

4,814

Purchase of short term listed investment

(788,108

)

(459,237

)

Interest received

222,504

147,476

Dividends received

39,187

189,378

Net cash from investing activities

(657,623

)

(243,588

)

Cash flows from financing activities

Amount introduced by directors

-

100,007

Equity dividends paid

(240,000

)

(162,000

)

Dividends paid to minority interests

(205,591

)

(27,052

)

Net cash from financing activities

(445,591

)

(89,045

)

Increase in cash and cash equivalents

401,652

1,880,079

Cash and cash equivalents at beginning of year

2

6,111,295

4,231,216

Cash and cash equivalents at end of year

2

6,512,947

6,111,295

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,934,917

2,277,506

Depreciation charges

334,918

331,604

Loss/(profit) on disposal of fixed assets

178

(23,531

)

(P)/L on current asset investments

(1,932,973

)

24,297

Foreign exchange

46,349

23,339

Loss/(gain) on current asset investments

1,323,946

(1,041,994

)

Finance costs

46,683

25,383

Finance income

(261,691

)

(336,854

)

1,492,327

1,279,750

Decrease in stocks

35,563

79,739

(Increase)/decrease in trade and other debtors

(1,653,627

)

385,025

Increase in trade and other creditors

2,164,891

554,867

Cash generated from operations

2,039,154

2,299,381

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2025

31.8.25

1.9.24

£

£

Cash and cash equivalents

6,512,947

6,111,295

Year ended 31 August 2024

31.8.24

1.9.23

£

£

Cash and cash equivalents

6,111,295

4,231,216

3.	ANALYSIS OF CHANGES IN NET FUNDS

Other

non-cash

At 1.9.24

Cash flow

changes

At 31.8.25

£

£

£

£

Net cash

Cash at bank

and in hand

6,111,295

401,652

6,512,947

6,111,295

401,652

6,512,947

Liquid resources

Current asset

investments

10,749,004

2,006,159

(609,025

)

12,146,138

10,749,004

2,006,159

(609,025

)

12,146,138

Total

16,860,299

2,407,811

(609,025

)

18,659,085