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Registered number: 01125402 Leco Instruments (UK) Limited Financial statements For the Year Ended 31 December 2025
Leco Instruments (UK) Limited Company Information
Directors | M A Reaney
| C J Warren
Registered number | 01125402
Registered office | Block 11 - 3F & 4F
| Mereside
| Alderley Park
| Congleton Road
| Nether Alderley
| SK10 4TG
Independent auditors | Hurst Accountants Limited
| Chartered Accountants & Statutory Auditors
| 3 Stockport Exchange
| Stockport
| Cheshire
| SK1 3GG
Bankers | National Westminster Bank Plc
| Spinningfields Square
| 1, Quay St
| Manchester
| M3 3AP
Leco Instruments (UK) Limited Contents
| Page
Balance Sheet | 1
Notes to the Financial Statements | 2 - 10
Leco Instruments (UK) Limited Registered number: 01125402 Balance Sheet As at 31 December 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 70,278 |  | 83,492
|  |  | 70,278 |  | 83,492
Current assets |  |  |  |  |
Stocks | 5 | 1,369,705 |  | 1,212,585 |
Debtors: amounts falling due within one year | 6 | 1,830,327 |  | 2,083,578 |
Cash at bank and in hand | 7 | 403,796 |  | 421,439 |
|  | 3,603,828 |  | 3,717,602 |
Creditors: amounts falling due within one year | 8 | (1,685,179) |  | (1,520,960) |
Net current assets |  |  | 1,918,649 |  | 2,196,642
Total assets less current liabilities |  |  | 1,988,927 |  | 2,280,134
Creditors: amounts falling due after more than one year | 9 |  | (43,313) |  | (92,020)
Provisions for liabilities |  |  |  |  |
Deferred tax |  |  | (2,772) |  | (2,772)
Net assets |  |  | 1,942,842 |  | 2,185,342
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 5,000 |  | 5,000
Profit and loss account |  |  | 1,937,842 |  | 2,180,342
|  |  | 1,942,842 |  | 2,185,342
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M A Reaney
Director
Date: 23 January 2026
The notes on pages 2 to 10 form part of these financial statements. Page 1
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025
1. | General information
Leco Instruments (UK) Limited is a private company limited by shares and incorporated in England. The address of the registered office and principal place of business is Block 11 - 3F & 4F, Mereside, Alderley Park, Congleton Road, Nether Alderley, SK10 4TG. The company's registered number is 01125402. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income. Foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'administrative expenses'. Page 2
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Revenue related to service maintenance contracts is recognised on a straight-line basis over the length of the contract. Revenue related to instruments that have not yet been installed at customer facilities is deferred at an amount equivalent to the historical or projected cost associated with labour and travel expenses to install the instrument.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Page 3
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 4
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.7 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Leasehold improvements | - | 10% Straight line
|  |  |  | Fixtures and fittings | - | 10-20% Straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price.
| 2.12 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 5
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.13 | Financial instruments
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets 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 or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 6
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.13 | Financial instruments (continued)
Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.14 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 7
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 26 (2024 -26).
4. | Tangible fixed assets
|  | Leasehold improvements | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2025 | 65,203 | 68,240 | 133,443
| At 31 December 2025 | 65,203 | 68,240 | 133,443
| Depreciation |  |  |
| At 1 January 2025 | 7,060 | 42,891 | 49,951
| Charge for the year on owned assets | 6,516 | 6,698 | 13,214
| At 31 December 2025 | 13,576 | 49,589 | 63,165
| Net book value |  |  |
| At 31 December 2025 | 51,627 | 18,651 | 70,278
| At 31 December 2024 | 58,143 | 25,349 | 83,492
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 1,369,705 | 1,212,585
Page 8
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,761,403 | 1,972,667
| Amounts owed by group undertakings | - | 73,420
| Other debtors | 11,696 | 1,850
| Prepayments and accrued income | 57,228 | 35,641
|  | 1,830,327 | 2,083,578
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 403,796 | 421,439
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 213,028 | 4,662
| Amounts owed to group undertakings | 234,539 | 195,996
| Corporation tax | 54,384 | 64,247
| Other taxation and social security | 282,720 | 89,924
| Other creditors | 3,682 | 17,133
| Accruals and deferred income | 896,826 | 1,148,998
|  | 1,685,179 | 1,520,960
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accruals and deferred income | 43,313 | 92,020
Page 9
Leco Instruments (UK) Limited Notes to the Financial Statements For the Year Ended 31 December 2025
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 5,000 (2024 -5,000) Ordinary shares of £1.00 each | 5,000 | 5,000
11. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £48,026 (2024: £36,166). Contributions totalling £3,682 (2024: £7,354) were payable to the fund at the balance sheet date and are included in creditors.
12. | Ultimate parent undertaking and controlling party
Leco Europe BV is the parent of the smallest group for which consolidated financial statements are drawn up of which the company is a member. Leco Europe BV's registered office is Vouersweg 118, 6161 AG Geleen, Netherlands. The ultimate parent undertaking is Leco Corporation, and copies of the consolidated financial statements are available from Leco Corporation, 3000 Lake View Avenue, 49085 St. Joseph, Michigan, USA.
13. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 23 January 2026 by Anthony Woodings (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.
Page 10