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REGISTERED NUMBER: 11294797 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

VIKING AIRPORT EQUIPMENT LTD

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| VIKING AIRPORT EQUIPMENT LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | J M M Smeets

| J T Bouwman

| SECRETARY: | Tayler Bradshaw Limited

| REGISTERED OFFICE: | Cambridge House

| 16 High Street

| Saffron Walden

| Essex

| CB10 1AX

| REGISTERED NUMBER: | 11294797 (England and Wales)

| SENIOR STATUTORY AUDITOR: | J P van der Merwe ACA

| AUDITORS: | Foot Davson Ltd

| Chartered Accountants & Statutory Auditor

| Lonsdale Gate

| Lonsdale Gardens

| Tunbridge Wells

| Kent

| TN1 1NU

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

BALANCE SHEET

31 DECEMBER 2025

| 31/12/25 | 31/12/24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 14,725 |  | 19,100 |  |

Tangible assets | 5 | 220,085 |  | 207,111 |  |

234,810 |  | 226,211 |  |

CURRENT ASSETS

Stocks | 936,033 |  | 524,516 |  |

Debtors | 6 | 1,797,501 |  | 659,058 |  |

Cash at bank | 56,431 |  | 289,924 |  |

2,789,965 |  | 1,473,498 |  |

CREDITORS

Amounts falling due within one year | 7 | 3,710,289 |  | 2,612,289 |  |

NET CURRENT LIABILITIES | (920,324 | ) | (1,138,791 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (685,514 | ) | (912,580 | ) |

CREDITORS

Amounts falling due after more than one year | 8 | - |  | 25,026 |  |

NET LIABILITIES | (685,514 | ) | (937,606 | ) |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | (685,515 | ) | (937,607 | ) |

SHAREHOLDERS' FUNDS | (685,514 | ) | (937,606 | ) |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by:

J T Bouwman - Director

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Viking Airport Equipment 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The company is a wholly owned subsidiary of SMA Group B.V. and has no subsidiaries of its own and therefore has no requirement to prepare any consolidated financial statements but does form part of the consolidated financial statements of the Group, SMA Group B.V., Industrieweg 2, 5731 HR, Mierlo, The Netherlands.

| 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.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of financial information requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

| Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

| recognised in the period in which the estimate is revised and in any future periods affected.

| There were no matters during the financial year or at the reporting date where judgement and assumptions that are most important to the portrayal of the Company's financial condition were used.

| Turnover

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

| The company receives deposits at the outset of each contract for products, but no revenue is recognised until the goods are manufactured and sold. These deposits are held in the Balance Sheet as Deferred Income until released into the Profit & Loss. Certain contracts are agreed with customers based on stage payments with Invoices only raised on completion of the various stages. For Airport Installation Contracts where no stage payments are agreed, Revenue is accrued based on the % completed of the project.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of one years.

| Functional and presentation currency

| The company's functional and presentation currency is GBP (Pound Sterling).

| 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.

| Patents and licences are being amortised evenly over their estimated useful life of ten years.

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of

| depreciation and any impairment losses.

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual

| value of each asset over its estimated useful life.

| Land and buildings 10% on cost

| Plant and machinery etc 25% on reducing balance and 10% on cost

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss

| Stocks

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

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Financial instruments

| Financial instruments are classified and accounted for, according to the substance of the contractual

| arrangement, as 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.

| Where shares are issued, any component that creates a financial liability of the company is presented as a

| liability in the balance sheet. The corresponding dividends relating to the liability component are charged

| as interest expense in the Income Statement.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| 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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currency transactions

| Transactions in currencies other than the functional currency of the individual entities (foreign currencies)

| are recognised at the spot rate at the dates of the transactions or at an average rate where this rate

| approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date.

| Exchange differences are recognised in profit or loss in the period in which they arise.

| 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.

| Going concern

| The financial statements are prepared on a going concern basis. The directors have considered the working capital requirements for a period of 12 months from the date of this report. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. The company has the continuing support of its parent company and group SMA Group BV.

| Company expectations

| Viking Airport Equipment Ltd takes great pride in being a market leader in airport equipment and services and the Viking brand is well respected throughout the world.

| Following on from the Strategic Review of the business in 2023 by the Managing Director, Jasper Bouwman, the business appointed key senior managers in Sales, Marketing and Finance, to support the Operations Director in driving process improvements and systems controls throughout the business. This resulted in significant increase in 2024, both in terms of turnover and profitability, with turnover returning to pre-2023 levels. During this time, the business developed its customer base so that we now provide equipment to many of the leading operators in the industry.

| This growth is continuing in 2026 to the extent that the business expects the business to grow significantly from its previous levels and is expanding its operations to cater for the demand whilst at the same time the business continues to ensure it continues to provide safety-focusing, quality products and ensuring great customer satisfaction.

| The Directors are delighted with the development of the business and with the total support from the parent company SMA Group BV, Viking is already well placed to become the market leader in the production of airport equipment.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs

| are required to be recognised as part of the cost of stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably

| committed to terminate the employment of an employee or to provide termination benefits.

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 28 (2024 - 21 ) .

4. | INTANGIBLE FIXED ASSETS

| Other |

| intangible |

| Goodwill |  | assets |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025

| and 31 December 2025 | 5 |  | 43,745 |  | 43,750 |  |

| AMORTISATION

| At 1 January 2025 | 5 |  | 24,645 |  | 24,650 |  |

| Charge for year | - |  | 4,375 |  | 4,375 |  |

| At 31 December 2025 | 5 |  | 29,020 |  | 29,025 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 14,725 |  | 14,725 |  |

| At 31 December 2024 | - |  | 19,100 |  | 19,100 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 11,046 |  | 670,197 |  | 681,243 |  |

| Additions | - |  | 67,000 |  | 67,000 |  |

| At 31 December 2025 | 11,046 |  | 737,197 |  | 748,243 |  |

| DEPRECIATION

| At 1 January 2025 | 6,137 |  | 467,995 |  | 474,132 |  |

| Charge for year | 1,104 |  | 52,922 |  | 54,026 |  |

| At 31 December 2025 | 7,241 |  | 520,917 |  | 528,158 |  |

| NET BOOK VALUE

| At 31 December 2025 | 3,805 |  | 216,280 |  | 220,085 |  |

| At 31 December 2024 | 4,909 |  | 202,202 |  | 207,111 |  |

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

| 31/12/25 |  | 31/12/24

£ | £ |

| Trade debtors | 1,392,834 |  | 439,659 |  |

| Other debtors | 404,667 |  | 219,399 |  |

1,797,501 |  | 659,058 |  |

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

| 31/12/25 |  | 31/12/24

£ | £ |

| Bank loans and overdrafts | 24,657 |  | 49,000 |  |

| Trade creditors | 193,240 |  | 294,374 |  |

| Amounts owed to group undertakings | 2,445,922 |  | 1,652,152 |  |

| Taxation and social security | 304,496 |  | 146,933 |  |

| Other creditors | 741,974 |  | 469,830 |  |

3,710,289 |  | 2,612,289 |  |

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

| 31/12/25 |  | 31/12/24

£ | £ |

| Bank loans | - |  | 25,026 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31/12/25 |  | 31/12/24

£ | £ |

| Bank loans | 24,657 |  | 74,026 |  |

| The debenture from barclays Bank Plc taken out has the following debenture's over Viking Airport Equipment Ltd. The company has provided a guarantee of both a fixed and floating charge of the company's assets.

10. | DEFERRED TAX

£ |

| Balance at 1 January 2025 | (15,552 | ) |

| Credit to Income Statement during year | (2,689 | ) |

| Balance at 31 December 2025 | (18,241 | ) |

| This is a deferred tax asset and this balance is included in Other Debtors

11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| J P van der Merwe ACA (Senior Statutory Auditor)

| for and on behalf of Foot Davson Ltd

12. | OTHER FINANCIAL COMMITMENTS

| The company entered into a new premises lease agreement for ten years in the financial year ended 31 December 2021. The company has future operating lease commitments of £108,000 per annum for the remaining years of the premises lease agreement.

| The company entered into a second premises lease agreement for 3 years in the financial year ended 31 December 2025. The company has future operating lease commitments of £40,500 per annum for the remaining years of the premises lease agreement.

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

13. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of SMA Group B.V., a company incorporated in The Netherlands.The registered office of the parent company is located in Nuenen, The Netherlands. The principal place of business is Industrieweg 2, 5731 HR, Mierlo, The Netherlands.

| The consolidated accounts can be located at The Netherlands Chamber of Commerce Business Register.

| There is no individual controlling party.