REGISTERED NUMBER: 05004893 (England and Wales)

Report of the Directors and

Financial Statements

for the Year Ended 30 June 2025

for

Isocom Components 2004 Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Statement of Income and Retained Earnings

8

Balance Sheet

9

Notes to the Financial Statements

10

DIRECTORS:

J R Elvin

G McBeth

D D Quinn

REGISTERED OFFICE:

Unit 25B

Park View Road West

Park View Industrial Estate

HARTLEPOOL

TS25 1PE

REGISTERED NUMBER:

05004893 (England and Wales)

SENIOR STATUTORY AUDITOR:

Martin Hobson BA (Hons) FCCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture of electronic components.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

DIRECTORS

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

J R Elvin

G McBeth

Other changes in directors holding office are as follows:

J Lavender - resigned 14 August 2024

J R Wilson - appointed 14 August 2024

D D Quinn was appointed as a director after 30 June 2025 but prior to the date of this report.

J R Wilson ceased to be a director after 30 June 2025 but prior to the date of this report.

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). 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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

D D Quinn - Director

23 December 2025

Opinion

We have audited the financial statements of Isocom Components 2004 Limited (the 'company') for the year ended 30 June 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and 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 company's affairs as at 30 June 2025 and of its 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 company 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 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in 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, 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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.

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

- Understanding the key legal and regulatory frameworks that are applicable to the Company. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be financial reporting legislation, taxation legislation, health & safety, and employment law. We have also sighted their Certificate of Conformity, their RoHS statement, their REACH statement, conflict minerals statement and California Proposition 65 statement.

- Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance

- Review of board minutes

- Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed

- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. The key areas identified are included in note 2 of these accounts.

- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Martin Hobson BA (Hons) FCCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

23 December 2025

TURNOVER

3

5,006,708

6,091,173

Cost of sales

(3,277,893

)

(3,694,356

)

GROSS PROFIT

1,728,815

2,396,817

Distribution costs

(235,373

)

(365,764

)

Administrative expenses

(1,037,603

)

(586,113

)

455,839

1,444,940

Other operating income

-

483

OPERATING PROFIT

5

455,839

1,445,423

Interest receivable and similar income

2,120

17,162

PROFIT BEFORE TAXATION

457,959

1,462,585

Tax on profit

6

(62,793

)

(349,434

)

PROFIT FOR THE FINANCIAL YEAR

395,166

1,113,151

Retained earnings at beginning of year

2,923,444

6,829,293

Dividends

7

-

(5,019,000

)

RETAINED EARNINGS AT END OF YEAR

3,318,610

2,923,444

FIXED ASSETS

Tangible assets

8

173,099

202,264

Investments

9

8

8

173,107

202,272

CURRENT ASSETS

Stocks

10

688,154

1,081,117

Debtors

11

2,050,335

1,536,762

Cash at bank

1,164,953

815,465

3,903,442

3,433,344

CREDITORS

Amounts falling due within one year

12

(714,100

)

(661,981

)

NET CURRENT ASSETS

3,189,342

2,771,363

TOTAL ASSETS LESS CURRENT LIABILITIES

3,362,449

2,973,635

PROVISIONS FOR LIABILITIES

14

(42,839

)

(49,191

)

NET ASSETS

3,319,610

2,924,444

CAPITAL AND RESERVES

Called up share capital

15

728

728

Capital redemption reserve

16

272

272

Retained earnings

16

3,318,610

2,923,444

SHAREHOLDERS' FUNDS

3,319,610

2,924,444

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

D D Quinn - Director

1.	STATUTORY INFORMATION

Isocom Components 2004 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern

The directors assess whether the use of the going concern basis is appropriate i.e. if there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The company continues to be profitable. The directors continue to asses the company's position in the industry in which it operates to explore any potential opportunities that may help the company grow in the future.

The directors' assessment is that the company is a going concern at the date of the approval of the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Isocom Components 2004 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Isocom Components UK Holdings Limited, C/O Foresight Group LLP, The Shard, 32 London Bridge Street, London, SE1 9SG.

Related parties

The company has disclosed related party transactions in line with the terms of the Financial Reporting Standard FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. These related party transactions are disclosed within the notes of these accounts.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Stock provisions - Management applies procedures to identify defective, slow moving and obsolete stocks.

Foreign exchange - The company purchases and sells goods in foreign currencies. Management initially applies an estimate to the spot rates relevant for the transactions, and then at the end of each month performs retranslations.

Turnover

Turnover represents the sale of goods and services manufactured and despatched during the period, net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Short leasehold

-

5% on cost

Plant and machinery

-

15% and 20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct material costs.

In assessing the estimated selling price the director's consider the potential for obsolescence. This includes reviewing the detailed stock listing to check for items that may now be difficult to sell due to the age or condition of the stock. If any such items are identified then a provision is made. This involves an element of estimation uncertainty.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating lease commitments

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

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.

Invoice financing

The invoice discounting debtor represents amounts received in respect of financed debts. There is full recourse to the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. Interest and other charges relating to invoice discounting are recognised in the profit and loss account over the relevant period.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

176,291

130,482

Europe

1,040,233

1,715,276

Asia

2,674,878

2,874,775

North America

1,061,014

1,281,689

Rest of the World

54,292

88,951

5,006,708

6,091,173

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

890,545

724,127

Social security costs

36,392

-

Other pension costs

7,706

7,494

934,643

731,621

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

2025

2024

Directors

3

1

Production

12

15

Administrative

6

4

21

20

2025

2024

£

£

Directors' remuneration

279,570

132,319

Information regarding the highest paid director for the year ended 30 June 2025 is as follows:

2025

£

Emoluments etc

128,085

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

1,807

1,599

Other operating leases

21,000

21,785

Depreciation - owned assets

44,780

56,604

Auditors' remuneration

27,055

9,640

Auditors remuneration - Tax compliance and advisory

2,000

125

Auditors remuneration - Corporate finance

-

22,775

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

69,145

359,852

Deferred tax

(6,352

)

(10,418

)

Tax on profit

62,793

349,434

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

457,959

1,462,585

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

114,490

365,646

Effects of:

Expenses not deductible for tax purposes

5,283

5,345

Depreciation in excess of capital allowances

7,238

12,812

Adjustments to tax charge in respect of previous periods

-

1,438

Group loss relief

(57,866

)

(25,389

)

Deferred tax movement

(6,352

)

(10,418

)

Total tax charge

62,793

349,434

7.

DIVIDENDS

2025

2024

£

£

Interim

-

5,019,000

8.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 July 2024

145,000

625,103

33,247

Additions

-

424

3,872

At 30 June 2025

145,000

625,527

37,119

DEPRECIATION

At 1 July 2024

144,375

449,107

32,406

Charge for year

625

37,249

1,009

At 30 June 2025

145,000

486,356

33,415

NET BOOK VALUE

At 30 June 2025

-

139,171

3,704

At 30 June 2024

625

175,996

841

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2024

22,395

20,009

845,754

Additions

-

11,319

15,615

At 30 June 2025

22,395

31,328

861,369

DEPRECIATION

At 1 July 2024

2,053

15,549

643,490

Charge for year

1,120

4,777

44,780

At 30 June 2025

3,173

20,326

688,270

NET BOOK VALUE

At 30 June 2025

19,222

11,002

173,099

At 30 June 2024

20,342

4,460

202,264

9.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2024

and 30 June 2025

8

NET BOOK VALUE

At 30 June 2025

8

At 30 June 2024

8

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Litecom Semiconductors Limited

Registered office: Unit 25b Park View Road West, Park View Industrial Estate, Hartlepool, Cleveland, TS25 1PE

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

100.00

Isocom Components Asia Limited

Registered office: Block A B/F,Wah Hing Industrial Mansion,36 Tai Yau Street, San Po Kong, Kowloon, Hong Kong

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

10.

STOCKS

2025

2024

£

£

Stocks

688,154

1,081,117

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

675,789

641,259

Amounts owed by group undertakings

1,169,688

222,717

Other debtors

28,832

641,828

Corporation tax debtor

121,437

-

Prepayments and accrued income

54,589

30,958

2,050,335

1,536,762

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

556,157

423,813

Amounts owed to group undertakings

33,000

6,890

Corporation tax

-

171,069

Taxation and social security

27,307

19,368

Other creditors

9,434

-

Accrued expenses

88,202

40,841

714,100

661,981

13.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

22,728

22,728

Between one and five years

29,228

51,956

51,956

74,684

14.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

42,839

49,191

Deferred

tax

£

Balance at 1 July 2024

49,191

Provided during year

(6,352

)

Balance at 30 June 2025

42,839