Company registration number 14667675 (England and Wales)
AMO SPECIAL CABLES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
AMO SPECIAL CABLES LIMITED
COMPANY INFORMATION
Directors
H J Blad
Ms J Strong
M T Sund
G Banner
Company number
14667675
Registered office
West Bridgewater Street
Leigh
Lancashire
WN7 4HB
Auditor
Mitchell Charlesworth (Audit) Limited
3rd Floor
44 Peter Street
Manchester
M2 5GP
AMO SPECIAL CABLES LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 24
AMO SPECIAL CABLES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Review of the business

Revenue for the year is £13.6m. The overall net gain of £497k.

Costs for 2025 included re-organisation fees of £155k.

Revenue in forecast is planned to increase to £16.2m in the year-ending December 2026, despite a major customer focus change from less profitable Automotive products.

Targets, open projects and current strategies remain in place for a more profitable 2026.

Principal risks and uncertainties

The key business risks and uncertainties affecting the company are related to competition from other cable suppliers, exchange rate fluctuations, increased material costs and general macro-economic factors.

Development and performance

- Promoting group products across all markets and introducing new customers and business partners

- Increased focus on customer service including short lead-times and product design

Other information and explanations

The Directors do not consider there are any risks in relation to the use of financial instruments which are material to an assessment of the company’s financial position.

On behalf of the board

.............................................
G Banner
Director
Date: .............................................
AMO SPECIAL CABLES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of manufacturing electronic wires, and cables.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

H J Blad
Ms J Strong
M T Sund
G Banner
Statement of directors' responsibilities

The directors are responsible for preparing the annual 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 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; and

- 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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

AMO SPECIAL CABLES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
On behalf of the board
G Banner
Director
16 April 2026
AMO SPECIAL CABLES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AMO SPECIAL CABLES LIMITED
- 4 -
Opinion

We have audited the financial statements of Amo Special Cables Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 profit 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 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 contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport 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.

AMO SPECIAL CABLES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AMO SPECIAL CABLES LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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' r esponsibilities s tatement, 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.

AMO SPECIAL CABLES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AMO SPECIAL CABLES LIMITED (CONTINUED)
- 6 -
Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance;

- the company's own assessment of the risks that irregularities may occur either as a result of fraud or error;

- the results of our enquiries of management and members of the Board of Directors of their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the following area: t he timing of the recognition of revenue.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local taxation legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included Data Protection Regulations.

AMO SPECIAL CABLES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AMO SPECIAL CABLES LIMITED (CONTINUED)
- 7 -
Audit response to risks identified

As a result of performing the above, we identified the timing of the recognition of revenue as the key audit matter related to the p otential risk of fraud.

In addition to the above, our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations described above as having a d irect effect on the f inancial s tatements;

- enquiring of management and members of the Board of Directors concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance and reviewing correspondence with relevant authorities where matters identified were significant; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

(Senior Statutory Auditor)
For and on behalf of Mitchell Charlesworth (Audit) Limited, Statutory Auditor
Accountants
3rd Floor
44 Peter Street
Manchester
M2 5GP
16 April 2026
AMO SPECIAL CABLES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
13,643,483
16,340,772
Cost of sales
(8,258,181)
(10,900,444)
Gross profit
5,385,302
5,440,328
Administrative expenses
(4,434,805)
(5,021,457)
Other operating income
-
0
82,914
Operating profit
4
950,497
501,785
Interest payable and similar expenses
8
(441,186)
(484,251)
Profit before taxation
509,311
17,534
Tax on profit
9
(140,191)
(26,570)
Profit/(loss) for the financial year
369,120
(9,036)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

AMO SPECIAL CABLES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
£
£
Profit/(loss) for the year
369,120
(9,036)
Other comprehensive income
-
-
Total comprehensive income for the year
369,120
(9,036)
AMO SPECIAL CABLES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
5,019,037
4,364,711
Current assets
Stocks
11
3,411,223
3,311,340
Debtors
12
2,595,970
2,404,368
Cash at bank and in hand
2,850,997
1,423,101
8,858,190
7,138,809
Creditors: amounts falling due within one year
13
(8,714,240)
(8,602,392)
Net current assets/(liabilities)
143,950
(1,463,583)
Total assets less current liabilities
5,162,987
2,901,128
Creditors: amounts falling due after more than one year
14
(2,956,045)
(3,065,854)
Provisions for liabilities
Deferred tax liability
16
2,548
-
0
(2,548)
-
Net assets/(liabilities)
2,204,394
(164,726)
Capital and reserves
Called up share capital
18
500,000
500,000
Capital introduction
2,000,000
-
0
Profit and loss reserves
(295,606)
(664,726)
Total equity
2,204,394
(164,726)

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 16 April 2026 and are signed on its behalf by:
G Banner
Director
Company registration number 14667675 (England and Wales)
AMO SPECIAL CABLES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
Share capital
Capital introduction
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2024
500,000
-
(655,690)
(155,690)
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
(9,036)
(9,036)
Balance at 31 December 2024
500,000
-
(664,726)
(164,726)
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
369,120
369,120
Transfers
-
2,000,000
-
0
2,000,000
Balance at 31 December 2025
500,000
2,000,000
(295,606)
2,204,394
AMO SPECIAL CABLES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
22
(1,396,352)
6,161,870
Interest paid
(441,186)
(484,251)
Net cash (outflow)/inflow from operating activities
(1,837,538)
5,677,619
Investing activities
Purchase of tangible fixed assets
(804,232)
(3,940,571)
Proceeds from disposal of tangible fixed assets
-
0
1,825,525
Net cash used in investing activities
(804,232)
(2,115,046)
Financing activities
Payment of finance leases obligations
-
0
(1,939,149)
Capital introduction
2,000,000
-
0
Net cash generated from/(used in) financing activities
2,000,000
(1,939,149)
Net (decrease)/increase in cash and cash equivalents
(641,770)
1,623,424
Cash and cash equivalents at beginning of year
(3,699,616)
(5,323,040)
Cash and cash equivalents at end of year
(4,341,386)
(3,699,616)
Relating to:
Cash at bank and in hand
2,850,997
1,423,101
Bank overdrafts included in creditors payable within one year
(7,192,383)
(5,122,717)
AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
1
Accounting policies
Company information

Amo Special Cables Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Bridgewater Street, Leigh, Lancashire, WN7 4HB.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements show a profit before tax of £509 k and net current as s ets of £282k, which includes an amount due to the parent company of £735k. The Directors of the parent undertaking have indicated their willingness to support the company by not seeking immediate recovery of the amount owed and supporting the company to meet their liabilities when due by loaning the company cash if necessary.

The forecasts for the next financial year show a profit of £446 k, and therefore these financial statements have been prepared on the going concern basis as the Directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the 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.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
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.

AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
25 years straight line. Land is not depreciated.
Plant and equipment
10% straight line / 20% straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). 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.

Recoverable amount is the higher of fair value less costs to sell and 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.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. 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.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement 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.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
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.

1.13
Retirement benefits

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

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
3
Turnover
2025
2024
£
£
Turnover analysed by geographical market
UK
5,602,791
5,800,022
EU
6,540,025
7,089,301
ROW
1,500,667
3,451,449
13,643,483
16,340,772
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(116,296)
85,966
Research and development costs
463
-
Depreciation of owned tangible fixed assets
149,906
194,893
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
11,250
10,500
For other services
All other non-audit services
2,400
2,250
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors
4
4
Sales
2
1
Production
40
44
Other
36
39
Total
82
88
AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Employees
(Continued)
- 19 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,222,927
3,369,881
Social security costs
354,832
330,625
Pension costs
128,596
154,190
3,706,355
3,854,696
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
187,158
177,468
Company pension contributions to defined contribution schemes
7,729
13,282
194,887
190,750
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost
Interest on bank overdrafts and loans
441,186
484,251
9
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
140,191
26,570
AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Taxation
(Continued)
- 20 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
509,311
17,534
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
127,328
4,384
Tax effect of expenses that are not deductible in determining taxable profit
3,783
1,018
Permanent capital allowances in excess of depreciation
9,080
21,168
Taxation charge for the year
140,191
26,570
10
Tangible fixed assets
Freehold land and buildings
Assets under construction
Plant and equipment
Total
£
£
£
£
Cost
At 1 January 2025
3,782,901
65,692
725,344
4,573,937
Additions
-
0
722,632
81,600
804,232
At 31 December 2025
3,782,901
788,324
806,944
5,378,169
Depreciation and impairment
At 1 January 2025
23,157
-
0
186,069
209,226
Depreciation charged in the year
36,320
-
0
113,586
149,906
At 31 December 2025
59,477
-
0
299,655
359,132
Carrying amount
At 31 December 2025
3,723,424
788,324
507,289
5,019,037
At 31 December 2024
3,759,744
65,692
539,275
4,364,711
11
Stocks
2025
2024
£
£
Raw materials and consumables
3,411,223
3,311,340
AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,471,230
2,141,254
Other debtors
749
-
0
Prepayments and accrued income
123,991
125,471
2,595,970
2,266,725
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 16)
-
0
137,643
Total debtors
2,595,970
2,404,368
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans and overdrafts
15
7,192,383
5,122,717
Trade creditors
468,792
88,417
Taxation and social security
194,221
78,234
Other creditors
749,244
3,216,057
Accruals and deferred income
109,600
96,967
8,714,240
8,602,392
14
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
2,956,045
3,065,854
15
Loans and overdrafts
2025
2024
£
£
Bank overdrafts
7,192,383
5,122,717
Payable within one year
7,192,383
5,122,717
AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Balances:
£
£
£
£
Accelerated capital allowances
274,525
-
-
(142,129)
Tax losses
(271,977)
-
-
279,772
2,548
-
-
137,643
2025
Movements in the year:
£
Asset at 1 January 2025
(137,643)
Charge to profit or loss
140,191
Liability at 31 December 2025
2,548

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
128,596
154,190

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £500 each
1,000
1,000
500,000
500,000

On 1 March 2024, the company consolidated its share capital, reducing the number of issued shares from 500,000 ordinary shares of £1 each to 1,000 ordinary shares of £500 each.

19
Operating lease commitments
As lessee
AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
19
Operating lease commitments
(Continued)
- 23 -

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
31,193
31,313
Years 2-5
75,018
106,211
106,211
137,524
20
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
759,805
-

As at 31 December 2025, the company had capital commitments of £759,805 (2024: None) in respect of contracted expenditure for which work had not yet commenced. These commitments relate primarily to the planned refurbishment of the roof.

The full amount of £759,805 is expected to be settled within the 2026 financial year.

21
Related party transactions

As at 31 December 2025 the company owed £3,691,473 (2024: £5,811,016) to Amokabel AB. the parent company of which £735,428 is due within a year and £2,956,045 is due within more than one year.

As at 31 December 2025, the company owed £21,064 (2024: £365,791) to Amokabel GmbH, a connected company and it is included within creditors.

As at 31 December 2025, the company was owed £17,334 (2024: £109,877) from Amo Specialkabel AB, a connected company and it is included within debtors.

As at 31 December 2025, the company was owed £120,093 (2024: £nil) from Amokabel Flexisheild Limited, a connected company and it is included within debtors.

AMO SPECIAL CABLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
22
Cash (absorbed by)/generated from operations
2025
2024
£
£
Profit/(loss) after taxation
369,120
(9,036)
Adjustments for:
Taxation charged
140,191
26,570
Finance costs
441,186
484,251
Depreciation and impairment of tangible fixed assets
149,906
194,893
Movements in working capital:
(Increase)/decrease in stocks
(99,883)
2,161,830
(Increase)/decrease in debtors
(329,245)
160,666
(Decrease)/increase in creditors
(2,067,627)
3,142,696
Cash (absorbed by)/generated from operations
(1,396,352)
6,161,870
23
Analysis of changes in net debt
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
1,423,101
1,427,896
2,850,997
Bank overdrafts
(5,122,717)
(2,069,666)
(7,192,383)
(3,699,616)
(641,770)
(4,341,386)
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