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Company No: SC228728 (Scotland)

# KINETICS CONTROLS AND INNOVATION LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH THE REGISTRAR

KINETICS CONTROLS AND INNOVATION LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025

Contents

KINETICS CONTROLS AND INNOVATION LIMITED

## BALANCE SHEET

AS AT 31 AUGUST 2025
KINETICS CONTROLS AND INNOVATION LIMITED

## BALANCE SHEET (continued)

AS AT 31 AUGUST 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 6,000 |  | 9,000
Tangible assets | 4 | 45,735 |  | 37,541
|  | 51,735 |  | 46,541
Current assets |  |  |  |
Stocks | 5 | 133,495 |  | 116,646
Debtors | 6 | 581,264 |  | 878,898
Cash at bank and in hand |  | 1,651,669 |  | 1,141,110
|  | 2,366,428 |  | 2,136,654
Creditors: amounts falling due within one year | 7 | ( 266,887) |  | ( 306,591)
Net current assets |  | 2,099,541 |  | 1,830,063
Total assets less current liabilities |  | 2,151,276 |  | 1,876,604
Provision for liabilities | 8 | ( 8,686) |  | ( 7,510)
Net assets |  | 2,142,590 |  | 1,869,094
Capital and reserves |  |  |  |
Called-up share capital | 9 | 700 |  | 700
Capital redemption reserve |  | 575 |  | 575
Profit and loss account |  | 2,141,315 |  | 1,867,819
Total shareholder's funds |  | 2,142,590 |  | 1,869,094

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Kinetics Controls and Innovation Limited (registered number: SC228728) were approved and authorised for issue by the Board of Directors on 03 April 2026. They were signed on its behalf by:

Kevin Watt Director |

KINETICS CONTROLS AND INNOVATION LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025
KINETICS CONTROLS AND INNOVATION LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Kinetics Controls and Innovation Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 28 Albyn Place, Aberdeen, AB10 1YL, United Kingdom. The principal place of business is Units 6 & 7, 1 Kirkhill Place, Kirkhill Industrial Estate, Dyce, Aberdeen, AB21 0GU.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sales of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised as services are provided.

##### Employee benefits

Short term 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 as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement schemes are charged as an expense as they fall due.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets | 5 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 3 years straight line
Plant and machinery etc. | 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit and loss on a straight line basis over the term of the relevant lease except where another more systematics basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.
Stocks held for distribution at no or nominal consideration are measured at the lower of the replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand with original maturities of three months or less.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction cost.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 10 |  | 11

#### 3. Intangible assets

| Other intangible assets |  | Total
| £ |  | £
Cost |  |  |
At 01 September 2024 | 15,000 |  | 15,000
At 31 August 2025 | 15,000 |  | 15,000
Accumulated amortisation |  |  |
At 01 September 2024 | 6,000 |  | 6,000
Charge for the financial year | 3,000 |  | 3,000
At 31 August 2025 | 9,000 |  | 9,000
Net book value |  |  |
At 31 August 2025 | 6,000 |  | 6,000
At 31 August 2024 | 9,000 |  | 9,000

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 September 2024 | 27,370 |  | 119,639 |  | 147,009
Additions | 6,212 |  | 15,377 |  | 21,589
Disposals | 0 |  | ( 1,334) |  | ( 1,334)
At 31 August 2025 | 33,582 |  | 133,682 |  | 167,264
Accumulated depreciation |  |  |  |  |
At 01 September 2024 | 27,370 |  | 82,098 |  | 109,468
Charge for the financial year | 518 |  | 12,877 |  | 13,395
Disposals | 0 |  | ( 1,334) |  | ( 1,334)
At 31 August 2025 | 27,888 |  | 93,641 |  | 121,529
Net book value |  |  |  |  |
At 31 August 2025 | 5,694 |  | 40,041 |  | 45,735
At 31 August 2024 | 0 |  | 37,541 |  | 37,541

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 133,495 |  | 104,687
Work in progress | 0 |  | 11,959
| 133,495 |  | 116,646

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 505,168 |  | 680,344
Other debtors | 76,096 |  | 198,554
| 581,264 |  | 878,898

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 54,629 |  | 32,672
Taxation and social security | 194,395 |  | 251,170
Other creditors | 17,863 |  | 22,749
| 266,887 |  | 306,591

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 7,510) |  | 0
Charged to the Statement of Income and Retained Earnings | ( 1,176) |  | ( 7,510)
At the end of financial year | ( 8,686) |  | ( 7,510)

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
700 Ordinary shares of £ 1.00 each | 700 |  | 700

#### 10. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 173,808 |  | 242,113

Included within the above financial commitments is £62,000 (2024 - £165,305) for the lease of five Electric Vehicles which are recovered from employees through a salary sacrifice arrangement.

#### 11. Ultimate controlling party

Parent Company:

Kinetics Controls and Innovation (Holdings) Limited
28 Albyn Place Aberdeen AB10 1YL

Kinetics Controls and Innovation (Holdings) Limited is ultimately controlled by KCI EOT Trustee Limited.