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COMPANY REGISTRATION NUMBER: 02039377

OSI Electronics (UK) Ltd

Financial Statements

30 June 2025

OSI Electronics (UK) Ltd

Financial Statements

Year ended 30 June 2025

Contents | Page

Strategic report | 1

Directors' report | 3

Independent auditor's report to the member | 5

Statement of income and retained earnings | 9

Statement of financial position | 10

Notes to the financial statements | 11

OSI Electronics (UK) Ltd

Strategic Report

Year ended 30 June 2025
Business overview
General OSI Electronics (UK) Ltd (OSIE UK) is a manufacturer of electronic systems. The main geographical market is the UK. The company is a wholly owned subsidiary of OSI (Holdings) Company Limited. The ultimate parent company is OSI Systems Inc. ("OSI"), a company quoted on NASDAQ in the United States of America. Strategy OSIE UK's philosophy is to work closely with our customers, building to their designs, but adding value by applying our expertise and experience and providing feedback. Future Developments The company will look to attract new customers and build on our relationships with existing customers on their new products.
Principal risk and uncertainties
The markets for the company's services remain competitive but as part of the OSI Group the company is well placed to maintain and improve market presence. On the wider economic risk of a downturn, we mitigate this by focusing on the areas we excel in and look to work closely with our customers building relationships that last for years. We do not have significant overseas sales so are not exposed to the risks of stability and exchange rates on revenue. We are monitoring the current uncertainty in the electronic supply chain, working with customers when products become scarce, or lead times extended. Being part of a global group means we have contacts in every market.
Financial performance
Financial instrument Foreign currency risk and interest rate risk The company has no external borrowings. The only financial instruments are balances with other group companies. There is therefore no risk from any financial instruments which the company is a party to. Sales and purchases in foreign currencies are not hedged. Any currency hedging required is handled by our parent company at OSI Group level. The company does not consider there to be any material foreign currency risks. Liquidity risk The OSI Group manages its cash and borrowing requirements centrally to maximise interest income and minimise interest expense, whilst ensuring that the OSI Group has sufficient liquid resources to meet the operating needs off its businesses. Sales The profit and loss account shows sales in the 2025 financial year of £24,748,411 compared with £26,214,332 in 2024. The directors are satisfied with this in the current economic climate, and it reflects the effort we put into customer relationships. Costs Cost control continues to be a major focus for OSIEUK. During financial year 2025 the average number of staff was 109 (2024: 130). Going forward we will continue to look for improvements and efficiencies that can be made without affecting the service we provide to our customers.
This report was approved by the board of directors on 25 March 2026 and signed on behalf of the board by:

M C Livesey
Director

Registered office:
5th Floor One New Change
London
England
EC4M 9AF

OSI Electronics (UK) Ltd

Directors' Report

Year ended 30 June 2025
The directors present their report and the financial statements of the company for the year ended 30 June 2025 .
Directors
The directors who served the company during the year were as follows:

M C Livesey |
D Williams |

Dividends
Particulars of recommended dividends are detailed in note 13 to the financial statements.
Disclosure of information in the strategic report
The company's Strategic Report, which outlines a review of the company's business and the principal risks and uncertainties facing the company can be found on page 1.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, 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). 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 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 judgments 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.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 25 March 2026 and signed on behalf of the board by:

M C Livesey
Director

Registered office:
5th Floor One New Change
London
England
EC4M 9AF

OSI Electronics (UK) Ltd

Independent Auditor's Report to the Member of OSI Electronics (UK) Ltd

Year ended 30 June 2025
Opinion
We have audited the financial statements of OSI Electronics (UK) Ltd (the 'company') for the year ended 30 June 2025 which comprise the statement of income and retained earnings, statement of financial position and the related notes, 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 FRS 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; - 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 auditor's 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' responsibilities statement, 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 is 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.
Auditor's 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We obtained an understanding of the legal and regulatory framework applicable to the company and how the company is complying with the framework. - We enquired of management about their own identification and assessment of risks of irregularities and reviewed the minutes of meetings of those charged with governance. - We considered the susceptibility of the financial statements to material misstatement, including how fraud might occur, and we obtained an understanding of the company's activities, the scope of its authorisation and the effectiveness of its control environment. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report
This report is made solely to the company's member, 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 member those matters we are required to state to them in an auditor's report 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 member as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Robert Upton FCCA
(Senior Statutory Auditor)

For and on behalf of
Collett Hulance Accountants Limited
Chartered Certified Accountants & statutory auditor
40 Kimbolton Road
Bedford
MK40 2NR

25 March 2026

OSI Electronics (UK) Ltd

Statement of Income and Retained Earnings

Year ended 30 June 2025

| 2025 | 2024
Note | £ | £
Turnover | 4 | 24,748,411 | 26,214,332

Cost of sales | 18,062,888 | 20,098,645
| ------------- | -------------
Gross profit | 6,685,523 | 6,115,687

Administrative expenses | 2,860,888 | 3,161,941
Other operating income | 5 | 58,952 | 90,751
|  | ------------ | ------------
Operating profit | 6 | 3,883,587 | 3,044,497

Other interest receivable and similar income | 10 | 946 | 54
Interest payable and similar expenses | 11 | 4,632 | 9,487
| ------------ | ------------
Profit before taxation | 3,879,901 | 3,035,064

Tax on profit | 12 | 957,159 | 742,750
| ------------ | ------------
Profit for the financial year and total comprehensive income | 2,922,742 | 2,292,314
| ------------ | ------------

Dividends paid and payable | 13 | ( 8,000,000) | –

Retained earnings at the start of the year | 9,005,927 | 6,713,613
| ------------ | ------------
Retained earnings at the end of the year | 3,928,669 | 9,005,927
| ------------ | ------------

All the activities of the company are from continuing operations.

OSI Electronics (UK) Ltd

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Intangible assets | 14 |  | – | 2,636
Tangible assets | 15 |  | 479,587 | 607,295
|  | --------- | ---------
|  | 479,587 | 609,931

Current assets

Stocks | 16 | 4,867,650 |  | 6,538,225
Debtors: due within one year | 17 | 6,936,512 |  | 6,773,140
Debtors: due after more than one year | 17 | 260,690 |  | 260,690
Cash at bank and in hand | 669,570 |  | 1,012,579
| ------------- |  | -------------
| 12,734,422 |  | 14,584,634

Creditors: amounts falling due within one year | 18 | 9,088,906 |  | 6,004,734
| ------------- |  | -------------
Net current assets |  | 3,645,516 | 8,579,900
|  | ------------ | ------------
Total assets less current liabilities |  | 4,125,103 | 9,189,831

Provisions

Taxation including deferred tax | 19 | 48,584 |  | 16,329
Other provisions | 19 | 147,750 |  | 167,475
| --------- |  | ---------
|  | 196,334 | 183,804
|  | ------------ | ------------
Net assets |  | 3,928,769 | 9,006,027
|  | ------------ | ------------

Capital and reserves

Called up share capital | 22 |  | 100 | 100
Profit and loss account | 23 |  | 3,928,669 | 9,005,927
|  | ------------ | ------------
Shareholder funds |  | 3,928,769 | 9,006,027
|  | ------------ | ------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 25 March 2026 , and are signed on behalf of the board by:

M C Livesey
Director

Company registration number: 02039377

OSI Electronics (UK) Ltd

Notes to the Financial Statements

Year ended 30 June 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5th Floor One New Change, London, England, EC4M 9AF.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of OSI Systems Inc. which can be obtained from 12525 Chadron Avenue, Hawthorne, CA 90250, USA. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch 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.
Deferred taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Software | - | 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible 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
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:

| Leasehold costs | - | Over 20 years
| Plant and equipment | - | Various rates over the useful life of the asset
| Fixtures and fittings | - | Various rates over the useful life of the asset
| Motor vehicles | - | Various rates over the useful life of the asset
| Office equipment | - | Various rates over the useful life of the asset

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Stocks are valued on a first-in-first-out basis. Finished goods and work in progress include a percentage of labour and overhead costs as set by the group.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Turnover
Turnover arises from:

| 2025 | 2024
| £ | £
Sale of goods | 24,748,411 | 26,214,332
| ------------- | -------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Other operating income

| 2025 | 2024
| £ | £
Management charges receivable | 58,952 | 90,751
| -------- | --------

6. Operating profit
Operating profit or loss is stated after charging/crediting:

| 2025 | 2024
| £ | £
Amortisation of intangible assets | 2,636 | 2,635
Depreciation of tangible assets | 176,847 | 205,332
Gains on disposal of tangible assets | ( 194,110) | ( 5,350)
Impairment of trade debtors | – | (42,186)
Operating lease rentals | 268,997 | 236,966
Foreign exchange differences | 140,332 | 9,455
| --------- | ---------

7. Auditor's remuneration

| 2025 | 2024
| £ | £
Fees payable for the audit of the financial statements | 24,000 | 21,000
| -------- | --------

8. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:

| 2025 | 2024
| No. | No.
Production staff | 89 | 108
Administrative staff | 11 | 13
Management staff | 9 | 9
| ---- | ----
| 109 | 130
| ---- | ----

The aggregate payroll costs incurred during the year, relating to the above, were:

| 2025 | 2024
| £ | £
Wages and salaries | 4,001,409 | 4,287,665
Social security costs | 402,576 | 405,308
Other pension costs | 164,081 | 173,408
| ------------ | ------------
| 4,568,066 | 4,866,381
| ------------ | ------------

9. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:

| 2025 | 2024
| £ | £
Remuneration | 316,022 | 325,184
Net value of assets received under long term incentive schemes | 16,184 | 13,655
Company contributions to defined contribution pension plans | 12,492 | 11,969
| --------- | ---------
| 344,698 | 350,808
| --------- | ---------

The number of directors who accrued benefits under company pension plans was as follows:

| 2025 | 2024
| No. | No.
Defined contribution plans | 2 | 2
| ---- | ----

The number of directors who exercised share options and received shares under a long term incentive scheme during the year was as follows:

| 2025 | 2024
| No. | No.
Directors who received shares under a long term incentive scheme | 2 | 2
| ---- | ----

Remuneration of the highest paid director in respect of qualifying services:

| 2025 | 2024
| £ | £
Aggregate remuneration | 179,344 | 186,506
Company contributions to defined contribution pension plans | 6,862 | 6,555
| --------- | ---------
| 186,206 | 193,061
| --------- | ---------

10. Other interest receivable and similar income

| 2025 | 2024
| £ | £
Interest on cash and cash equivalents | 946 | 54
| ---- | ----

11. Interest payable and similar expenses

| 2025 | 2024
| £ | £
Interest on banks loans and overdrafts | – | 3,503
Other interest payable and similar charges | 4,632 | 5,984
| ------- | -------
| 4,632 | 9,487
| ------- | -------

12. Tax on profit
Major components of tax expense

| 2025 | 2024
| £ | £

Current tax:

UK current tax expense | 927,700 | 752,735
Adjustments in respect of prior periods | ( 2,796) | –
| --------- | ---------
Total current tax | 924,904 | 752,735
| --------- | ---------

Deferred tax:

Origination and reversal of timing differences | 32,255 | ( 9,985)
| --------- | ---------
Tax on profit | 957,159 | 742,750
| --------- | ---------

Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

| 2025 | 2024
| £ | £
Profit on ordinary activities before taxation | 3,879,901 | 3,035,064
| ------------ | ------------
Profit on ordinary activities by rate of tax | 969,975 | 758,766
Effect of expenses not deductible for tax purposes | ( 58,548) | ( 11,679)
Effect of capital allowances and depreciation | 16,273 | 5,648
Effect of under/(over) provision in prior year | ( 2,796) | –
Effect of accelerated capital allowances | 32,255 | ( 9,985)
| ------------ | ------------
Tax on profit | 957,159 | 742,750
| ------------ | ------------

13. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

| 2025 | 2024
| £ | £
Equity dividends on ordinary shares | 8,000,000 | –
| ------------ | ----

14. Intangible assets

| Software
| £
Cost |
At 1 July 2024 and 30 June 2025 | 44,306
| --------
Amortisation |
At 1 July 2024 | 41,670
Charge for the year | 2,636
| --------
At 30 June 2025 | 44,306
| --------
Carrying amount |
At 30 June 2025 | –
| --------
At 30 June 2024 | 2,636
| --------

15. Tangible assets

| Land and buildings | Plant and machinery | Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £ | £
Cost |  |  |  |  |  |
At 1 Jul 2024 | 709 | 1,574,835 | 187,696 | 2,624 | 173,884 | 1,939,748
Additions | – | 49,139 | – | – | – | 49,139
| ---- | ------------ | --------- | ------- | --------- | ------------
At 30 Jun 2025 | 709 | 1,623,974 | 187,696 | 2,624 | 173,884 | 1,988,887
| ---- | ------------ | --------- | ------- | --------- | ------------
Depreciation |  |  |  |  |  |
At 1 Jul 2024 | 709 | 1,005,714 | 187,696 | 2,624 | 135,710 | 1,332,453
Charge for the year | – | 154,167 | – | – | 22,680 | 176,847
| ---- | ------------ | --------- | ------- | --------- | ------------
At 30 Jun 2025 | 709 | 1,159,881 | 187,696 | 2,624 | 158,390 | 1,509,300
| ---- | ------------ | --------- | ------- | --------- | ------------
Carrying amount |  |  |  |  |  |
At 30 Jun 2025 | – | 464,093 | – | – | 15,494 | 479,587
| ---- | ------------ | --------- | ------- | --------- | ------------
At 30 Jun 2024 | – | 569,121 | – | – | 38,174 | 607,295
| ---- | ------------ | --------- | ------- | --------- | ------------

16. Stocks

| 2025 | 2024
| £ | £
Raw materials and consumables | 3,701,139 | 5,029,852
Work in progress | 213,810 | 385,516
Finished goods | 952,701 | 1,122,857
| ------------ | ------------
| 4,867,650 | 6,538,225
| ------------ | ------------

17. Debtors
Debtors falling due within one year are as follows:

| 2025 | 2024
| £ | £
Trade debtors | 3,738,069 | 2,750,753
Amounts owed by group undertakings | 3,094,452 | 3,919,865
Prepayments and accrued income | 103,991 | 102,522
| ------------ | ------------
| 6,936,512 | 6,773,140
| ------------ | ------------

Debtors falling due after one year are as follows:

| 2025 | 2024
| £ | £
Amounts owed by group undertakings | 260,690 | 260,690
| --------- | ---------

18. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 3,804,595 | 2,177,686
Amounts owed to group undertakings | 2,641,571 | 2,119,443
Accruals and deferred income | 799,799 | 604,190
Corporation tax | 249,987 | 3,468
Social security and other taxes | 614,590 | 249,303
Other creditors | 978,364 | 850,644
| ------------ | ------------
| 9,088,906 | 6,004,734
| ------------ | ------------

19. Provisions

| Warranties | Deferred tax (note 20) | Total
| £ | £ | £
At 1 July 2024 | 167,475 | 16,329 | 183,804
Additions | – | 32,255 | 32,255
Charge against provision | ( 19,725) | – | ( 19,725)
| --------- | -------- | ---------
At 30 June 2025 | 147,750 | 48,584 | 196,334
| --------- | -------- | ---------

The provision has been recognised for expected warranty claims on products sold during the financial year. It is expected that most of this expenditure will be incurred in the next financial year.
20. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2025 | 2024
| £ | £
Included in provisions (note 19) | 48,584 | 16,329
| -------- | --------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2025 | 2024
| £ | £
Accelerated capital allowances | 48,584 | 16,329
| -------- | --------

21. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 164,081 (2024: £ 173,408 ).
22. Called up share capital
Authorised share capital

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 100 | 100 | 100 | 100
| ---- | ---- | ---- | ----

Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 100 | 100 | 100 | 100
| ---- | ---- | ---- | ----

23. Reserves
The profit and loss account is a reserve that records retained earnings and accumulated losses.
24. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 132,338 | 275,765
Later than 1 year and not later than 5 years | 116,640 | 248,978
| --------- | ---------
| 248,978 | 524,743
| --------- | ---------

25. Related party transactions
The company has taken advantage of the exemption under Financial Reporting Standard 102, as a wholly owned subsidiary, and has not disclosed details of transactions with other group companies.
26. Controlling party
OSI Electronics (UK) Ltd is a wholly owned subsidiary of OSI (Holdings) Company Limited, a company registered in England and Wales. OSI (Holdings) Company Limited is a subsidiary undertaking of OSI Systems Inc., a company registered in the State of California, USA. The directors consider OSI Systems Inc. to be the ultimate parent company and a copy of this company's accounts can be obtained from 12525 Chadron Avenue, Hawthorne, CA 90250, USA.
27. Ultimate controlling party
The ultimate controlling party is the ultimate parent company, OSI Systems Inc.