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REGISTERED NUMBER: 10543203 (England and Wales)

| STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| NORDOMATIC UK LTD |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Income Statement | 9 |

Other Comprehensive Income | 10 |

Balance Sheet | 11 |

Statement of Changes in Equity | 12 |

Notes to the Financial Statements | 13 |

NORDOMATIC UK LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | M A Allen

| S Biddlestone

| L H Grønkjær

| REGISTERED OFFICE: | The Pavillion South Drive

| Coleshill

| Birmingham

| B46 1DL

| REGISTERED NUMBER: | 10543203 (England and Wales)

| INDEPENDENT AUDITORS: | Harold Sharp Limited

| Statutory Auditors and Chartered Accountants

| 5 Brooklands Place

| Brooklands Road

| Sale

| Cheshire

| M33 3SD

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

Nordomatic UK Ltd operates within the rapidly growing Building Management Systems (BMS) and smart building industry, providing automation, energy optimisation, and building performance solutions. The company is part of the Nordic-based Nordomatic Group headquartered in Stockholm, specialising in intelligent building solutions that integrate heating, ventilation, lighting, security and energy management systems.

The UK market represents a strategically important expansion region for the group due to strong demand for smart buildings, decarbonisation policies, and retrofitting of existing building stock. Through acquisitions such as Demma Controls, Pillinger Controls, Detail Design Engineering and Building Environment Control Ltd, Nordomatic has expanded its UK footprint and strengthened sector expertise.

In 2025 customer demand for our products and services grew by 40% year-on-year (Detail Design Engineering financials included from 2025 accounting for £14.4m turnover) which resulted in an upturn in our financial performance.

The company's cash reserves improved from £0.9m to £3.9m, and the business remains completely self-funded by its shareholders without any external third-party funding.

The BMS industry is experiencing significant growth, driven by the need for energy efficiency, cost reduction, and sustainability. Our progressive order intake in the year was strong and underpins our positive outlook for 2026 growth.

The operating structure

Nordomatic UK Ltd has entered and expanded in the UK through multiple acquisitions including:

" Demma Controls (Central region)

" Pillinger Controls (South region)

" DDE MB Limited (North region)

" Building Environment Control Ltd (acquired October 2025 and not included in this financial report)

Nordomatic UK operates in a high-growth industry driven by energy efficiency and smart building transformation. While competition from global automation companies remains strong, Nordomatic's strengths in system integration, open technologies and energy optimisation provide a strong platform for growth.

Continued expansion, innovation in digital building solutions, and effective integration of acquisitions will be critical to achieving long-term competitive advantage in the UK market.

Financial key performance indicators

| 2025 (£m) |  | 2024 (£m) |  | Movement (£m) |

Sales |  | 31.2 |  | 22.3 |  | 8.9 |

Adjusted EBITDA* |  | 2.4 |  | 0.9 |  | 1.5 |

Profit/(Loss) before tax |  | (1.6) |  | 0.5 |  | 2.1 |

*Adjusted for £1m of amortisation and depreciation (FY24: £0.1m), £0.4m of interest (FY24: £0.3m) and £2.6m of exceptional costs related to the hive-up of the Demma and Pillinger companies into Nordomatic UK Ltd (FY24: £NIL).

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The company is exposed to the following risks and uncertainties:

Macroeconomic risks

Demand for building management systems, smart building integration and energy optimisation services is influenced by the level of activity within the construction, property and facilities management sectors. Economic downturns, reduced investment in commercial real estate, or delays in capital expenditure projects may adversely affect demand for the Company's services.

The Company mitigates this risk through maintaining a diversified customer base across sectors including commercial property, education, healthcare and public sector.

Competitive and Technological Change

The building automation and smart buildings market is highly competitive and subject to rapid technological development. Failure to keep pace with technological innovation, new software platforms or digital building solutions could reduce the Company's competitive position.

The Company seeks to mitigate this risk through ongoing investment in technical expertise, partnerships with leading technology providers, and integration of innovative software and cloud-based building management solutions.

Operational risk

Delivery of projects relies on the availability of specialist components, technology platforms and subcontractor services. Supply chain disruption, cost inflation or delays in equipment availability could impact project timelines and profitability.

The Company mitigates this risk through supplier diversification, procurement planning and careful project management.

Regulatory and Compliance Risk

The Company operates in a highly regulated environment, including compliance with building regulations, environmental standards, anti-bribery legislation and other legal requirements. Non-compliance could lead to financial penalties, legal action or reputational damage.

Policies, internal controls and training programmes are maintained to support compliance with relevant laws and regulations.

ON BEHALF OF THE BOARD:

M A Allen - Director

30 March 2026

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of maintenance, commissioning and servicing of temperature and building control systems.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

M A Allen has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

S Biddlestone - appointed 11 June 2025

L H Grønkjær - appointed 10 July 2025

G R Shew - resigned 11 June 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

AUDITORS

The auditors, Harold Sharp Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M A Allen - Director

30 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NORDOMATIC UK LTD

Opinion

We have audited the financial statements of Nordomatic Uk Ltd (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 31 December 2025 and of its loss 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 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NORDOMATIC UK LTD

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 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 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 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:

As part of our planning process:

- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.

- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, health and safety, and employment law.

- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates.

- Testing key revenue lines, in particular cut-off, for evidence of management bias.

- Obtaining third-party confirmation of material bank balances.

- Documenting and verifying all significant related party and transactions.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NORDOMATIC UK LTD

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.

Frederick Norman (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

Statutory Auditors and Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

30 March 2026

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 |  | 2024

| as restated |

| Notes | £ | £ |

TURNOVER | 31,172,917 |  | 22,340,122 |  |

Cost of sales | (23,531,974 | ) | (17,367,238 | ) |

GROSS PROFIT | 7,640,943 |  | 4,972,884 |  |

Administrative expenses | (8,873,713 | ) | (4,169,118 | ) |

OPERATING (LOSS)/PROFIT | 4 | (1,232,770 | ) | 803,766 |  |

Interest receivable and similar income | 36,293 |  | 1,555 |  |

(1,196,477 | ) | 805,321 |  |

Interest payable and similar expenses | 5 | (402,299 | ) | (352,968 | ) |

(LOSS)/PROFIT BEFORE TAXATION | (1,598,776 | ) | 452,353 |  |

Tax on (loss)/profit | 6 | (466,623 | ) | (105,083 | ) |

(LOSS)/PROFIT FOR THE FINANCIAL YEAR | (2,065,399 | ) | 347,270 |  |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 |  | 2024

| as restated |

| Notes | £ | £ |

(LOSS)/PROFIT FOR THE YEAR | (2,065,399 | ) | 347,270 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (2,065,399 | ) | 347,270 |  |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

BALANCE SHEET

31 DECEMBER 2025

| 2025 |  | 2024

| as restated |

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 8 | 7,829,395 |  | - |  |

Tangible assets | 9 | 226,352 |  | 215,374 |  |

Investments | 10 | - |  | 14,866,368 |  |

8,055,747 |  | 15,081,742 |  |

CURRENT ASSETS

Stocks | 11 | 1,065,947 |  | 151,106 |  |

Debtors | 12 | 5,368,491 |  | 3,745,430 |  |

Cash at bank | 3,867,128 |  | 938,089 |  |

10,301,566 |  | 4,834,625 |  |

CREDITORS

Amounts falling due within one year | 13 | (13,407,897 | ) | (12,276,092 | ) |

NET CURRENT LIABILITIES | (3,106,331 | ) | (7,441,467 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,949,416 |  | 7,640,275 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (617,100 | ) | (1,242,560 | ) |

NET ASSETS | 4,332,316 |  | 6,397,715 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 170,000 |  | 170,000 |  |

Share premium | 17 | 2,122,578 |  | 2,122,578 |  |

Retained earnings | 17 | 2,039,738 |  | 4,105,137 |  |

SHAREHOLDERS' FUNDS | 4,332,316 |  | 6,397,715 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2026 and were signed on its behalf by:

M A Allen - Director

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 January 2024 | 170,000 |  | 3,757,867 |  | 2,122,578 |  | 6,050,445 |  |

Changes in equity

Total comprehensive income | - |  | 347,270 |  | - |  | 347,270 |  |

Balance at 31 December 2024 | 170,000 |  | 4,105,137 |  | 2,122,578 |  | 6,397,715 |  |

Changes in equity

Total comprehensive income | - |  | (2,065,399 | ) | - |  | (2,065,399 | ) |

Balance at 31 December 2025 | 170,000 |  | 2,039,738 |  | 2,122,578 |  | 4,332,316 |  |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Nordomatic Uk Ltd 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.

| 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 requirement of paragraph 33.7.

| Related party exemption

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

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

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

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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.

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Hire purchase and leasing 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.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

| as restated |

£ | £ |

| Wages and salaries | 11,866,558 |  | 8,726,520 |  |

| Social security costs | 1,439,324 |  | 973,115 |  |

| Other pension costs | 460,140 |  | 286,577 |  |

13,766,022 |  | 9,986,212 |  |

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

| 2025 |  | 2024

| as restated |

| Employees | 222 |  | 234 |  |

| Directors | 3 |  | 2 |  |

225 |  | 236 |  |

| 2025 |  | 2024

| as restated |

£ | £ |

| Directors' remuneration | 204,979 |  | 237,911 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

| as restated |

£ | £ |

| Emoluments etc | 143,600 |  | 128,334 |  |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | OPERATING (LOSS)/PROFIT

| The operating loss (2024 - operating profit) is stated after charging/(crediting):

| 2025 |  | 2024

| as restated |

£ | £ |

| Hire of plant and machinery | 3,246 |  | 5,072 |  |

| Other operating leases | 271,517 |  | 289,336 |  |

| Depreciation - owned assets | 122,298 |  | 72,584 |  |

| Loss/(profit) on disposal of fixed assets | 7,865 |  | (1,215 | ) |

| Goodwill amortisation | 871,736 |  | - |  |

| Auditors' remuneration | 15,000 |  | 16,500 |  |

| Other non- audit services | 6,740 |  | - |  |

| Foreign exchange differences | 1,917 |  | 2,025 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

| as restated |

£ | £ |

| Bank interest | 180 |  | - |  |

| Group interest | 402,119 |  | 352,968 |  |

402,299 |  | 352,968 |  |

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the loss for the year was as follows:

| 2025 |  | 2024

| as restated |

£ | £ |

| Current tax:

| UK corporation tax | 481,019 |  | 126,096 |  |

| Deferred tax | (14,396 | ) | (21,013 | ) |

| Tax on (loss)/profit | 466,623 |  | 105,083 |  |

7. | PRIOR YEAR ADJUSTMENT

| In the prior year the payment's made against work in progress balances were presented separately from work in progress balances rather than net. This has been restated to aid comparability with the current year where these are presented net.

| The impact previously presented balances is:

| Balance |  | Previously presented (£ | ) | Restatement |  | Restated value (£ | ) |

| Stock |  | 5,820,523 |  | (5,669,417 | ) | 151,106 |  |

| Other Creditors |  | (6,421,298 | ) | 5,669,417 |  | (751,881 | ) |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

8. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| Additions | 8,701,131 |  |

| At 31 December 2025 | 8,701,131 |  |

| AMORTISATION

| Amortisation for year | 871,736 |  |

| At 31 December 2025 | 871,736 |  |

| NET BOOK VALUE

| At 31 December 2025 | 7,829,395 |  |

9. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Plant and |  | Motor |

| property |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2025 | 164,596 |  | 52,403 |  | 152,157 |  | 369,156 |  |

| Addition - Hive Up | - |  | 119,179 |  | 303,603 |  | 422,782 |  |

| At 31 December 2025 | 164,596 |  | 171,582 |  | 455,760 |  | 791,938 |  |

| DEPRECIATION

| At 1 January 2025 | 25,483 |  | 43,632 |  | 84,667 |  | 153,782 |  |

| Charge for year | 16,197 |  | 40,596 |  | 65,505 |  | 122,298 |  |

| Addition - Hive Up | - |  | 87,354 |  | 202,152 |  | 289,506 |  |

| At 31 December 2025 | 41,680 |  | 171,582 |  | 352,324 |  | 565,586 |  |

| NET BOOK VALUE

| At 31 December 2025 | 122,916 |  | - |  | 103,436 |  | 226,352 |  |

| At 31 December 2024 | 139,113 |  | 8,771 |  | 67,490 |  | 215,374 |  |

10. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025 | 14,866,368 |  |

| Disposals | (14,866,368 | ) |

| At 31 December 2025 | - |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | 14,866,368 |  |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

10. | FIXED ASSET INVESTMENTS - continued

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

| Demma Energy Ltd

| Registered office: The Pavillion South Drive, Coleshill, Birmingham, England, B46 1DL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary Shares | 100.00 |

| Demma Technical Installations Ltd

| Registered office: The Pavillion South Drive, Coleshill, Birmingham, England, B46 1DL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Demma Controls Limited

| Registered office: The Pavillion South Drive, Coleshill, Birmingham, England, B46 1DL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Demma (London) Ltd

| Registered office: The Pavillion South Drive, Coleshill, Birmingham, England, B46 1DL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Demma (Scotland) Ltd

| Registered office: The Pavillion South Drive, Coleshill, Birmingham, England, B46 1DL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Pillinger Group Ltd

| Registered office: Omnibus Building, Lesbourne Road, Reiagte, Surrey, England, RH2 7LD

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Pillinger Controls Ltd

| Registered office: Omnibus Building, Lesbourne Road, Reiagte, Surrey, England, RH2 7LD

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

10. | FIXED ASSET INVESTMENTS - continued

| Detail Design Engineering Ltd

| Registered office: 5 Brooklands Place, Brooklands Road, Sale, Cheshire, United Kingdom, M33 3SD

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| D.D.E (Holdings) Ltd

| Registered office: 5 Brooklands Place, Brooklands Road, Sale, Cheshire, United Kingdom, M33 3SD

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| DDE MB Ltd

| Registered office: 5 Brooklands Place, Brooklands Road, Sale, Cheshire, United Kingdom, M33 3SD

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Following the year end all of the related undertakings were either dissolved or in the process of liquidation as part of the rationalisation of the group structure.

11. | STOCKS

2025 | 2024 |

| as restated |

£ | £ |

| Stock and Work in Progress | 1,065,947 |  | 151,106 |  |

12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Trade debtors | 4,841,669 |  | 3,701,869 |  |

| Amounts owed by group undertakings | - |  | 2,050 |  |

| Other debtors | 512,426 |  | 41,511 |  |

| Deferred tax asset | 14,396 |  | - |  |

5,368,491 |  | 3,745,430 |  |

13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Trade creditors | 1,614,881 |  | 693,931 |  |

| Amounts owed to group undertakings | 9,956,724 |  | 10,384,633 |  |

| Tax | 481,019 |  | - |  |

| Social security and other taxes | 659,612 |  | 440,158 |  |

| Other creditors | 695,661 |  | 757,370 |  |

13,407,897 |  | 12,276,092 |  |

NORDOMATIC UK LTD (REGISTERED NUMBER: 10543203)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Other creditors | 617,100 |  | 1,242,560 |  |

15. | LEASING AGREEMENTS

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

2025 | 2024 |

| as restated |

£ | £ |

| Within one year | 843,875 |  | 716,529 |  |

| Between one and five years | 2,077,420 |  | 1,944,244 |  |

| In more than five years | 195,333 |  | 429,981 |  |

3,116,628 |  | 3,090,754 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: |  | as restated |

£ | £ |

| 17,000,000 | Ordinary | 0.01 | 170,000 |  | 170,000 |  |

17. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 January 2025 | 4,105,137 |  | 2,122,578 |  | 6,227,715 |  |

| Deficit for the year | (2,065,399 | ) | (2,065,399 | ) |

| At 31 December 2025 | 2,039,738 |  | 2,122,578 |  | 4,162,316 |  |

18. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme of which the assets are held separately from those of the company. During the year the company contributed £447,412 (2024: £323,846) to the scheme.

| At 31 December 2025, unpaid employer contributions of £71,185 (2024: £60,959) were included in other creditors.

19. | ULTIMATE CONTROLLING PARTY

| The immediate parent of the company is Nordomatic Holding UK Limited (registered in England and Wales 13941869) and the ultiamte controlling party is Building Automation Nordic Holding AB (registered in Sweden 559261-9729). Consolidated accounts are prepared and publicly available from Building Automation Nordic Holding AB.