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Registered number: 11668380 Eschmann Technologies Ltd Annual Report and Financial Statements For the Year Ended 31 December 2025
Eschmann Technologies Ltd Company Information
Directors | G M Kennedy
| G D M Kennedy
| P A Kennedy
| M P Berry
Registered number | 11668380
Registered office | Eschmann House
| 15 Peter Road
| Lancing
| West Sussex
| BN15 8TJ
Independent auditor | Kreston Reeves Audit LLP
| Statutory Auditor
| 9 Donnington Park
| 85 Birdham Road
| Chichester
| West Sussex
| PO20 7AJ
Eschmann Technologies Ltd Contents
| Page
Strategic Report | 1 - 2
Directors' Report | 3 - 4
Independent Auditor's Report | 5 - 8
Statement of Comprehensive Income | 9
Balance Sheet | 10
Statement of Changes in Equity | 11
Notes to the Financial Statements | 12 - 27
Eschmann Technologies Ltd Strategic Report For the Year Ended 31 December 2025
Introduction
The Directors present their Strategic Report on Eschmann Technologies Ltd for the year ending 31 December 2025.
Principal activities
The principal activities of the Company are the design, manufacture, distribution, retail and servicing of equipment and consumable products for use in the context of infection control and prevention, especially within the global dental market.
Business review
Turnover for the year was £10,724,228 (2024: £10,757,899) and profit before tax was £1,023,075 (2024: £774,715).
Principal risks and uncertainties
Whilst business activity is relatively stable following the gradual return towards pre pandemic levels, there remains ongoing uncertainty particularly in relation to the macro-economic environment. The Directors have agreed upon a strategy of diverse product and service income streams to manage the uncertainties, and to capitalise on opportunities both within and beyond the dental sector. The ongoing consequences resulting from war in Ukraine and the Middle East, high inflation, 'the cost-of-living crisis' and high energy cost uncertainties have all imposed pressures on global supply chains. These factors combined have affected all sections of the business primarily in relation to cost pressures and margin delivery. The Company’s operations expose it to a variety of financial risks against which the directors apply a range of strategies to mitigate those risks. The adverse effects afforded by credit risk are minimised by credit checking of potential customers prior to order acceptance, and by gaining payment security through advance payment when deemed appropriate. Cash flow risk is managed by maintaining rolling cash flow forecasts with monitoring of actual cash against the projections. The operational and financial risks associated with over reliance on individual suppliers is mitigated through utilisation of a range of providers for key components, combined with regular audits of the most critical suppliers.
Financial key performance indicators
The Directors utilise a number of KPIs as one of their tools in understanding and managing the performance and development of the business. These include the following: The gross profit as a percentage of turnover was 33.9% (2024: 31.6%). The percentage is consistent with the expectations of the Directors. The profit before tax as a percentage of turnover was 9.54% (2024: 7.20%). The percentage is consistent with the expectations of the Directors, recognising the stage of development of the company.
|  | 2025 | 2024 | 2023
|  | £ | £ | £
Turnover |  | 10,724,228 | 10,757,899 | 11,035,795
Gross Profit |  | 3,637,579 | 3,397,398 | 3,045,323
PBT |  | 1,023,075 | 774,715 | 161,121
Gross Profit Margin |  | 33.9% | 31.6% | 27.6%
Profit Before Tax Margin |  | 9.54% | 7.20% | 1.46%
Page 1
Eschmann Technologies Ltd Strategic Report (continued) For the Year Ended 31 December 2025
Future developments
The Directors intend to consolidate and grow the business both within the UK and overseas. It is anticipated that this will be achieved by expanding both the product range offered and the markets into which products are sold. This report was approved by the board and signed on its behalf.
................................................ P A Kennedy Director
Date: 31 March 2026
Page 2
Eschmann Technologies Ltd Directors' Report For the Year Ended 31 December 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 to 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.
Results and dividends
The profit for the year, after taxation, amounted to £754,208 (2024 - £567,715). During the year a dividend of £260,000 was declared (2024: £260,000).
Directors
The directors who served during the year were:
G M Kennedy
G D M Kennedy
P A Kennedy
M P Berry
Research and development activities
The Company’s R&D resource continues to focus upon innovating, and enhancing the quality, reliability and functionality of the product range.
Disclosure of information to auditor
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information. Page 3
Eschmann Technologies Ltd Directors' Report (continued) For the Year Ended 31 December 2025
Auditor
The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025. The auditor, Kreston Reeves Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
................................................ P A Kennedy Director
Date: 31 March 2026
Page 4
Eschmann Technologies Ltd Independent Auditor's Report to the Members of Eschmann Technologies Ltd
Opinion
We have audited the financial statements of Eschmann Technologies Ltd (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 United Kingdom, including the Financial Reporting Council'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. Page 5
Eschmann Technologies Ltd Independent Auditor's Report to the Members of Eschmann Technologies Ltd (continued)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 3, 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. Page 6
Eschmann Technologies Ltd Independent Auditor's Report to the Members of Eschmann Technologies Ltd (continued)
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: Capability of the audit in detecting irregularities, including fraud Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial statements such as absorption of costs, capitalisation and valuation of software development costs, controls surrounding the quantities of stock and the recoverability of trade debtors. Audit procedures performed by the engagement team included: ∙Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud; and ∙Assessment of identified fraud risk factors; and ∙Identifying controls that management has in place to prevent and detect fraud; and ∙Conducting interviews with appropriate personnel to gain further insight into the systems implemented, and the risk of irregularity; and ∙Discussion with management of the controls over stock counting procedures and detailed testing of the perpetual and year end stock counts as appropriate; and ∙Conducting a review of cash received after the balance sheet date to support trade debtor recoverability; and ∙Challenging assumptions and judgements made by management in its significant accounting estimates; and ∙Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and ∙Performing analytical procedures with automated data analytics tools to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and ∙Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant tax and regulatory authorities. ∙Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and ∙Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation. Page 7
Eschmann Technologies Ltd Independent Auditor's Report to the Members of Eschmann Technologies Ltd (continued) Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: ∙Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ∙Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control. ∙Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. ∙Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the Company to cease to continue as a going concern. ∙Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the Company's 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. Allan Pinner FCCA (Senior Statutory Auditor) for and on behalf of Kreston Reeves Audit LLP Statutory Auditor Chichester 31 March 2026 Page 8
Eschmann Technologies Ltd Statement of Comprehensive Income For the Year Ended 31 December 2025
| 2025 | 2024
| £ | £
Turnover | 4 | 10,724,228 | 10,757,899
Cost of sales |  | (7,086,649) | (7,360,501)
Gross profit |  | 3,637,579 | 3,397,398
Administrative expenses |  | (2,604,007) | (2,613,063)
Operating profit | 5 | 1,033,572 | 784,335
Interest receivable and similar income | 9 | 19,503 | 20,380
Interest payable and similar expenses | 10 | (30,000) | (30,000)
Profit before tax |  | 1,023,075 | 774,715
Tax on profit | 11 | (268,867) | (207,000)
Profit for the financial year |  | 754,208 | 567,715
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 12 to 27 form part of these financial statements.
Page 9
Eschmann Technologies Ltd Registered number: 11668380 Balance Sheet As at 31 December 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 12 |  | 1,987,522 |  | 1,413,838
Tangible assets | 13 |  | 137,723 |  | 110,936
|  |  | 2,125,245 |  | 1,524,774
Current assets |  |  |  |  |
Stocks | 14 | 1,444,894 |  | 1,674,842 |
Debtors: amounts falling due within one year | 15 | 1,544,003 |  | 1,679,192 |
Cash at bank and in hand |  | 732,196 |  | 450,116 |
|  | 3,721,093 |  | 3,804,150 |
Creditors: amounts falling due within one year | 16 | (3,646,973) |  | (3,023,767) |
Net current assets |  |  | 74,120 |  | 780,383
Total assets less current liabilities |  |  | 2,199,365 |  | 2,305,157
Creditors: amounts falling due after more than one year | 17 |  | - |  | (600,000)
Net assets |  |  | 2,199,365 |  | 1,705,157
Capital and reserves |  |  |  |  |
Called up share capital | 20 |  | 900,000 |  | 900,000
Profit and loss account |  |  | 1,299,365 |  | 805,157
|  |  | 2,199,365 |  | 1,705,157
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ P A Kennedy
Director
Date: 31 March 2026
The notes on pages 12 to 27 form part of these financial statements. Page 10
Eschmann Technologies Ltd Statement of Changes in Equity For the Year Ended 31 December 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 900,000 | 497,442 | 1,397,442
Profit for the year | - | 567,715 | 567,715
Dividends: Equity capital | - | (260,000) | (260,000)
At 1 January 2025 | 900,000 | 805,157 | 1,705,157
Profit for the year | - | 754,208 | 754,208
Dividends: Equity capital | - | (260,000) | (260,000)
At 31 December 2025 | 900,000 | 1,299,365 | 2,199,365
| The notes on pages 12 to 27 form part of these financial statements.
Page 11
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
1. | General information
Eschmann Technologies Ltd is a private company limited by share capital incorporated in England and Wales (Registered number: 11668380). The address of its registered office is: Eschmann House 15 Peter Road Lancing West Sussex BN15 8TJ 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
These financial statements have been prepared in compliance with FRS 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 unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Eschmann Investments Ltd as at 31 December 2025 and these financial statements may be obtained from Eschmann House, 15 Peter Road, Lancing, West Sussex, BN15 8TJ.
| 2.3 | Going concern
Based upon the financial performance of the Company during the year and based upon future forecasts and budgets, the Directors believe that the Company is a going concern and the financial statements have been prepared on this basis. Page 12
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.4 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.
| 2.5 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.6 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Page 13
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.7 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives of 7 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
| 2.8 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.9 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.10 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.11 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 14
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.12 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.13 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life. The estimated useful lives range as follows:
|  |  |  | Goodwill | - | 10 | years
Page 15
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.14 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives range as follows:
|  |  |  | Plant and machinery | - | 5 years
|  |  |  | Fixtures and fittings | - | 2 - 5 years
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.15 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a standard costing basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.16 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.17 | 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.
| 2.18 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 16
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025 2.Accounting policies (continued)
| 2.19 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.20 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 17
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that can affect the amounts reported for assets and liabilities, and the results for the year. The nature of estimation is such though that actual outcomes could differ significantly from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. The following judgements have had the most significant impact on amounts recognised in the financial statements: Stock Provision The key area of estimation uncertainty has been considered by management being whether there are any indicators of impairments of stock based on their judgment of net realisable value. For any stock lines that are deemed to be impaired, a provision has been made in the financial statements. The stock provision as at 31 December 2025 was £398,757 (2024: £392,093). Taxation A provision has been made in the financial statements for a deferred tax asset amounting to £104,313 (2024: £70,440) at the reporting date (see note 19). This provision is based upon estimates of the availability of future taxable profits, the timing of the reversal of timing differences upon which the provision is based and the tax rates that will be in force at that time together with an assessment of the impact of future tax planning strategies. Goodwill The company has recognised goodwill arising from business combinations with a carrying value of £456,512 (2024 - £608,683) at the reporting date (see note 12). On acquisition the company determines a reliable estimate of the useful life of goodwill and intangible assets based upon factors such as the expected use of the acquired business, forecasts of expected future results and cash flows, and any legal, regulatory or contractual provisions that can limit useful life. At each subsequent reporting date the directors consider whether there are any factors such as technological advancements or changes in market conditions that indicate a need to reconsider the useful life of goodwill and intangible assets. Tangible fixed assets The company has recognised tangible fixed assets with a carrying value of £137,723 (2024 - £110,936) at the reporting date (see note 13). These assets are stated at their cost less provision for depreciation and impairment. The company’s accounting policy sets out the approach to calculating depreciation for immaterial assets acquired. For material assets such as land and buildings the company determines at acquisition reliable estimates for the useful life of the asset, its residual value and decommissioning costs. These estimates are based upon such factors as the expected use of the acquired asset and market conditions. At subsequent reporting dates the directors consider whether there are any factors such as technological advancements or changes in market conditions that indicate a need to reconsider the estimates used. Where there are indicators that the carrying value of tangible assets may be impaired the company undertakes tests to determine the recoverable amount of assets. These tests require estimates of the fair value of assets less cost to sell and of their value in use. Wherever possible the estimate of the fair value of assets is based upon observable market prices less incremental cost for disposing of the asset. The value in use calculation is based upon a discounted cash flow model, based upon the company’s forecasts for the foreseeable future which do not include any restructuring activities that the company is not yet committed to or significant future investments that will enhance the asset’s performance. Page 18
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025 3.Judgements in applying accounting policies (continued) Intangible assets The company has recognised intangible assets with a carrying value of £1,531,010 (2024: £805,155) in respect of software under development at the reporting date (see note 12). These assets are stated at cost less accumulated amortisation and impairment losses. Where costs previously incurred are deemed to have been superseeded, a disposal is recognised. At each reporting date the directors will review the intangible for any indication of impairment. During the year no impairment was recognised.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Sale of goods | 5,126,713 | 5,391,679
| Sale of service contracts | 5,597,515 | 5,366,220
|  | 10,724,228 | 10,757,899
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 10,608,281 | 10,652,608
| Rest of the world | 115,947 | 105,291
|  | 10,724,228 | 10,757,899
5. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Research & development charged as an expense | 13,385 | 52,049
| Exchange differences | 11,765 | (22,702)
| Other operating lease rentals | 245,191 | 277,118
Page 19
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
6. | Auditor's remuneration
| During the year, the Company obtained the following services from the Company's auditor:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditor for the preparation and audit of the Company's financial statements | 19,275 | 18,800
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 3,740,752 | 3,874,584
| Social security costs | 521,710 | 430,856
| Cost of defined contribution scheme | 318,782 | 340,284
|  | 4,581,244 | 4,645,724
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Administrative staff | 54 | 61
|  | Directors | 4 | 4
|  | Engineers | 41 | 43
|  | Production staff | 4 | 4
|  |  | 103 | 112
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 64,631 | 62,463
| Company contributions to defined contribution pension schemes | 52,979 | 35,468
|  | 117,610 | 97,931
| During the year retirement benefits were accruing to 2 directors (2024 - 2) in respect of defined contribution pension schemes.
| Directors remuneration of £5,909 (2024: £8,077) was capitalised in relation to the software under development and is not included in the note above.
Page 20
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
9. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 19,503 | 20,380
|  | 19,503 | 20,380
10. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loan interest payable | 30,000 | 30,000
|  | 30,000 | 30,000
Page 21
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
11. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 302,740 | 245,064
| Total current tax | 302,740 | 245,064
| Deferred tax |  |
| Origination and reversal of timing differences | (33,873) | (38,064)
| Tax on profit | 268,867 | 207,000
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,023,075 | 774,715
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 255,769 | 193,679
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 13,098 | 13,321
| Total tax charge for the year | 268,867 | 207,000
Page 22
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
12. | Intangible assets
|  | Software under development | Goodwill | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 January 2025 | 805,155 | 1,521,706 | 2,326,861
| Additions - internal | 770,831 | - | 770,831
| At 31 December 2025 | 1,575,986 | 1,521,706 | 3,097,692
| Amortisation |  |  |
| At 1 January 2025 | - | 913,023 | 913,023
| Charge for the year on owned assets | 44,976 | 152,171 | 197,147
| At 31 December 2025 | 44,976 | 1,065,194 | 1,110,170
| Net book value |  |  |
| At 31 December 2025 | 1,531,010 | 456,512 | 1,987,522
| At 31 December 2024 | 805,155 | 608,683 | 1,413,838
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Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
13. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2025 | 410,011 | 447,749 | 857,760
| Additions | 47,545 | 16,482 | 64,027
| Disposals | (41,579) | (1,500) | (43,079)
| At 31 December 2025 | 415,977 | 462,731 | 878,708
| Depreciation |  |  |
| At 1 January 2025 | 365,170 | 381,654 | 746,824
| Charge for the year on owned assets | 7,849 | 28,136 | 35,985
| Disposals | (40,324) | (1,500) | (41,824)
| At 31 December 2025 | 332,695 | 408,290 | 740,985
| Net book value |  |  |
| At 31 December 2025 | 83,282 | 54,441 | 137,723
| At 31 December 2024 | 44,841 | 66,095 | 110,936
14. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 931,318 | 1,068,164
| Work in progress | 44,868 | 47,394
| Finished goods and goods for resale | 468,708 | 559,284
|  | 1,444,894 | 1,674,842
Page 24
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
15. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,058,456 | 1,102,104
| Amounts owed by group undertakings | 19,138 | 195,465
| Other debtors | 67,743 | 64,582
| Prepayments and accrued income | 294,353 | 246,601
| Deferred taxation | 104,313 | 70,440
|  | 1,544,003 | 1,679,192
16. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 600,000 | -
| Trade creditors | 398,151 | 378,713
| Corporation tax | 302,740 | 245,064
| Other taxation and social security | 431,631 | 389,988
| Other creditors | 2,828 | 5,899
| Accruals and deferred income | 1,911,623 | 2,004,103
|  | 3,646,973 | 3,023,767
17. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | - | 600,000
|  | - | 600,000
Page 25
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
18. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Other loans | 600,000 | -
|  | 600,000 | -
| Amounts falling due 1-2 years |  |
| Other loans | - | 600,000
|  | 600,000 | 600,000
| Other loan amounts are unsecured. Further details are provided within Note 24.
19. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 70,440 | 32,376
| Charged to profit or loss | 33,873 | 38,064
| At end of year | 104,313 | 70,440
| The deferred tax asset is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Decelerated capital allowances | 90,312 | 58,268
| Short term timing differences | 14,001 | 12,172
|  | 104,313 | 70,440
20. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 900,000 (2024 - 900,000) Ordinary shares of £1.00 each | 900,000 | 900,000
Page 26
Eschmann Technologies Ltd Notes to the Financial Statements For the Year Ended 31 December 2025
21. | Contingent liabilities
Eschmann Technologies Ltd has entered into a cross guarantee and debenture in favour of Barclays Bank PLC in relation to a £1.2m loan taken out by Eschmann Investments Ltd, the parent company of Eschmann Technologies Ltd.
22. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £318,782 (2024: £307,250). Contributions totalling £7,213 were payable to (2024: £410 repayable by) the fund at the balance sheet date.
23. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 253,178 | 242,084
| Later than 1 year and not later than 5 years | 353,085 | 318,664
| Later than 5 years | 3,079 | 8,357
|  | 609,342 | 569,105
24. | Related party transactions
| Loan from Director During a prior period, one of the Directors made a loan to Eschmann Technologies Ltd. The loan was for £600,000 with an interest rate of 5% being charged. At the balance sheet date the amount due to the director from Eschmann Technologies Ltd was £600,000 (2024: £600,000). The loan is repayable if there is a change of control event or an earlier date as agreed between the company and the Director. The company has taken advantage of the exemption in Section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other wholly owned members of the group.
25. | Controlling party
The company's immediate parent is Eschmann Investments Ltd, incorporated in England and Wales. The most senior parent entity producing publicly available financial statements is Eschmann Investments Ltd. These financial statements are available upon request from the registered office at Eschmann House, 15 Peter Road, Lancing, West Sussex, BN15 8TJ. The ultimate controlling party is P A Kennedy, a director and shareholder of Eschmann Investments Ltd, the parent company.
Page 27