Company registration number 05179769 (England and Wales)
LASER LINES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
LASER LINES LIMITED
COMPANY INFORMATION
Directors
S E Hall
M S Tyrtania
T W James
Secretary
S E Hall
Company number
05179769
Registered office
Beaumont Close
Banbury
Oxfordshire
United Kingdom
OX16 1TH
Auditor
Ellacotts Audit Services Limited
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Bankers
National Westminster Bank Plc
1 Town Hall Buildings
Bridge Street
Banbury
Oxfordshire
OX16 5JS
LASER LINES LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 23
LASER LINES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 1 -

The directors present the strategic report and financial statements for the year ended 31 July 2025.

The principal activity is to act as a high tech distributor for overseas companies here in the UK and Ireland.

Principal Activities, Business Review and Risks

Laser Lines was originally founded in 1975 and remains one of the leading suppliers of lasers and accessories, 3D printers, rapid prototyping machines and vacuum casting systems.

Turnover for the year was £12,680,842 reflecting a 3% increase compared to the previous year.

Gross profit for the year was £3,917,169 (2024: £3,167,241) which represents a gross margin of 30.9%, which is an increase of 5.2% from the previous year's gross margin of 25.7%.

The overall operating profit was £796,356 up from the previous year's operating loss of £145,115.

Exchange risk remains a significant concern. In order to manage exchange rate risk, the company takes proactive measures to mitigate its exposure to currency fluctuations. Specifically, the company minimizes this potential risk by structuring larger value orders in the relevant foreign currency, thus reducing the impact of exchange rate volatility. Additionally, the company incorporates exchange rate variation clauses in its contracts, allowing for adjustments in the event of significant currency fluctuations. These strategies ensure that the company remains protected from adverse movements in foreign exchange rates while maintaining its financial stability and competitiveness in the global market.

The company minimises its exposure to potential problems with its debtor book through using credit verification and control procedures.

Financial KPIs

With significant gross profit, the board are overall satisfied with our current strategy. The further development of the Additive Manufacturing bureau service with its repeat customer base is proving to be an important element of the company's growing success. Stock has been held at an expected level and operating costs remain in line with forecasts and staff numbers.

Future Developments

The company continues to try to offer quality, innovative products from overseas suppliers within the UK market, providing our customers with local expertise in both sales and support whilst also providing its suppliers with a knowledgeable resource within the UK to explore existing and potential markets. Our goal to continue to expand all sales groups in both new and existing markets remains as in previous years.

On behalf of the board

S E Hall
Director
20 February 2026
LASER LINES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 2 -

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

Principal activities
Results and dividends

The results for the year are set out on page 7.

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:

S E Hall
M S Tyrtania
T W James
Auditor

Ellacotts Audit Services Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the strategic report, 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

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

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

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

Statement 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.

Directors' Interests in Transactions

The company made no advances, credits or guarantees to any director during the year, in accordance with s413 Companies Act 2006.

LASER LINES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
On behalf of the board
S E Hall
Director
20 February 2026
LASER LINES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LASER LINES LIMITED
- 4 -
Opinion

We have audited the financial statements of Laser Lines Limited (the 'company') for the year ended 31 July 2025 which comprise 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 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 FRS 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 July 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.

LASER LINES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LASER LINES LIMITED
- 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 set out on page 2, 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.

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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK),we exercise professional judgment and maintain professional scepticism throughout the audit. We also performed the following procedures:

- Enquiry of management and those charged with governance around actual and potential litigation and claims.

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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.

LASER LINES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LASER LINES LIMITED
- 6 -

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.

Charlotte Toemaes BSc FCA
Senior Statutory Auditor
For and on behalf of Ellacotts Audit Services Limited
Chartered Accountants
Statutory Auditor
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
25 February 2026
LASER LINES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
12,680,842
12,317,829
Cost of sales
(8,763,673)
(9,150,588)
Gross profit
3,917,169
3,167,241
Administrative expenses
(3,120,813)
(3,106,282)
Exceptional item
4
-
0
(206,074)
Operating profit/(loss)
5
796,356
(145,115)
Interest receivable and similar income
8
277
170
Interest payable and similar expenses
9
(12,573)
(18,355)
Profit/(loss) before taxation
784,060
(163,300)
Tax on profit/(loss)
10
(218,372)
(33,071)
Profit/(loss) for the financial year
565,688
(196,371)

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

There has been no other comprehensive income received during the year.

LASER LINES LIMITED
BALANCE SHEET
AS AT 31 JULY 2025
31 July 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
9,994
13,326
Tangible assets
12
491,293
581,621
Investments
13
1
1
501,288
594,948
Current assets
Stocks
15
2,488,476
2,939,598
Debtors falling due after more than one year
16
-
0
7,031,570
Debtors falling due within one year
16
8,857,106
2,176,094
Cash at bank and in hand
165,871
436,706
11,511,453
12,583,968
Creditors: amounts falling due within one year
17
(3,094,161)
(4,624,909)
Net current assets
8,417,292
7,959,059
Total assets less current liabilities
8,918,580
8,554,007
Creditors: amounts falling due after more than one year
18
(275,554)
(459,256)
Provisions for liabilities
Deferred tax liability
21
55,982
73,395
(55,982)
(73,395)
Net assets
8,587,044
8,021,356
Capital and reserves
Called up share capital
23
30,000
30,000
Capital redemption reserve
10,000
10,000
Profit and loss reserves
8,547,044
7,981,356
Total equity
8,587,044
8,021,356

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 20 February 2026 and are signed on its behalf by:
S E Hall
Director
Company registration number 05179769 (England and Wales)
LASER LINES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
- 9 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 August 2023
30,000
10,000
8,177,727
8,217,727
Year ended 31 July 2024:
Loss and total comprehensive income
-
-
(196,371)
(196,371)
Balance at 31 July 2024
30,000
10,000
7,981,356
8,021,356
Year ended 31 July 2025:
Profit and total comprehensive income
-
-
565,688
565,688
Balance at 31 July 2025
30,000
10,000
8,547,044
8,587,044
LASER LINES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
55,001
1,191,176
Interest paid
(12,573)
(18,355)
Income taxes paid
(32,511)
(149,319)
Net cash inflow from operating activities
9,917
1,023,502
Investing activities
Purchase of tangible fixed assets
-
0
(259,670)
Proceeds from disposal of tangible fixed assets
(97,327)
(336,875)
Interest received
277
170
Net cash used in investing activities
(97,050)
(596,375)
Financing activities
Repayment of bank loans
(180,000)
(180,000)
Payment of finance leases obligations
(3,702)
(1,851)
Net cash used in financing activities
(183,702)
(181,851)
Net (decrease)/increase in cash and cash equivalents
(270,835)
245,276
Cash and cash equivalents at beginning of year
436,706
191,430
Cash and cash equivalents at end of year
165,871
436,706
LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 11 -
1
Accounting policies
Company information

Laser Lines Limited is a private company limited by shares incorporated in England and Wales. The registered office is Beaumont Close, Banbury, Oxfordshire, United Kingdom, OX16 1TH.

1.1
Accounting convention

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 £.

These financial statements have been prepared in compliance with FRS 102.

1.2
Going concern

The directors have assessed the company’s ability to continue as a going concern for at least 12 months from the date of approval of these financial statements. Based on forecasts and current trading performance, the directors consider it appropriate to prepare the financial statements on a going-concern basis.true

1.3
Turnover

Turnover represents the amount derived from the provision of goods and services after the deduction of trade discounts and value added tax.

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
- 5 years straight line
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.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 12 -

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:

Plant and machinery
- 5 to 7 years straight line
Fixtures, fittings & equipment
- 5 years straight line
Computer equipment
- 3 years 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
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting 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.

1.8
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.

1.9
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.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 13 -
1.10
Financial instruments

Financial instruments are recognised in the company's statement of financial position 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.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 14 -
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.

1.11
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.

1.12
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.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 15 -
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.

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.

1.13
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.

1.14
Retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.16
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 16 -
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.

The directors do not believe there to be any estimates or judgements which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of intercompany receivable

The company holds a receivable from a group undertaking of £7,031,570. Recoverability is assessed based on the subsidiary’s financial position and the support of the parent group.

Stock valuation

Stocks require estimation of net realisable value, taking into account ageing, obsolescence, and expected selling prices.

3
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by geographical market
Sales - UK
11,960,175
11,789,217
Overseas sales - EU
685,844
515,590
Overseas sales - Non EU
34,823
13,022
12,680,842
12,317,829
4
Exceptional item
2025
2024
£
£
Expenditure
Exceptional Items
-
206,074

The exceptional charge of £206,074 relates to the write‑off recognised during 2024 relate s primarily to the write off of Intercompany balance between Advent 3D Limited and Laser Lines Limited which is considered to be non-recurring in nature and outside the normal course of business operations. Due to its size and non‑recurring nature, management consider this item exceptional. No exceptional items were recorded in 2025.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 17 -
5
Operating profit/(loss)
2025
2024
Operating profit/(loss) for the year is stated after charging:
£
£
Exchange losses
15,247
49,948
Depreciation of tangible fixed assets
187,655
267,440
Amortisation of intangible assets
3,332
3,334
Operating lease charges
290,787
240,161
6
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
16,500
15,000
For other services
All other non-audit services
2,500
2,200
7
Employees

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

2025
2024
Number
Number
Number of administrative staff
32
32

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,428,460
1,408,765
Social security costs
161,137
182,586
Pension costs
50,857
50,558
1,640,454
1,641,909

The key management personnel of the company comprise the directors as listed on page 2. The total amount of employee benefits received by key management personnel for their services to the company was £383,779 (2024 - £376,387).

8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
277
170
LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
8
Interest receivable and similar income
(Continued)
- 18 -
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
277
170
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs
Other interest
12,573
18,355
10
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
38,986
33,071

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

2025
2024
£
£
Profit/(loss) before taxation
784,060
(163,300)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
196,015
(40,825)
Tax effect of expenses that are not deductible in determining taxable profit
50,059
71,616
Tax effect of utilisation of tax losses not previously recognised
(38,228)
-
0
Unutilised tax losses carried forward
-
0
38,228
Capital allowances
(3,307)
(68,944)
Deferred tax movement
15,028
33,071
Pension movement
(1,265)
(32)
Non-trade loan relationship credits
70
(43)
Taxation charge for the year
218,372
33,071
LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 19 -
11
Intangible fixed assets
Software
£
Cost
At 1 August 2024 and 31 July 2025
16,660
Amortisation and impairment
At 1 August 2024
3,334
Amortisation charged for the year
3,332
At 31 July 2025
6,666
Carrying amount
At 31 July 2025
9,994
At 31 July 2024
13,326
12
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 August 2024
1,341,476
76,481
37,598
1,455,555
Transfers
97,327
-
0
-
0
97,327
At 31 July 2025
1,438,803
76,481
37,598
1,552,882
Depreciation and impairment
At 1 August 2024
759,983
76,363
37,588
873,934
Depreciation charged in the year
187,592
53
10
187,655
At 31 July 2025
947,575
76,416
37,598
1,061,589
Carrying amount
At 31 July 2025
491,228
65
-
0
491,293
At 31 July 2024
581,493
118
10
581,621
13
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
14
1
1
LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 20 -
14
Subsidiaries

These financial statements are separate company financial statements for Laser Lines Limited.

Details of the company's subsidiaries at 31 July 2025 are as follows:

Name of undertaking and country of
Nature of business
Class of
% Held
incorporation or residency
shareholding
Direct
Indirect
Laser Lines (UK) Limited
England
Dormant
Ordinary A
100.00
Ordinary B
100.00
15
Stocks
2025
2024
£
£
Finished goods and goods for resale
2,488,476
2,939,598
16
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,758,073
2,110,713
Amounts owed by group undertakings
7,031,570
-
0
Prepayments and accrued income
67,463
65,381
8,857,106
2,176,094
2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
-
0
7,031,570
Total debtors
8,857,106
9,207,664
17
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
20
5,553
5,553
Trade creditors
1,915,837
3,251,856
Corporation tax
203,274
-
0
Other taxation and social security
299,239
170,540
Other creditors
20,000
46,044
Accruals and deferred income
650,258
1,150,916
3,094,161
4,624,909
LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 21 -
18
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
19
270,000
450,000
Obligations under finance leases
20
5,554
9,256
275,554
459,256
19
Loans and overdrafts
2025
2024
£
£
Bank loans
270,000
450,000
Payable after one year
270,000
450,000

The bank loan is secured by a charge over all assets of the company, is interest free and repayable in monthly instalments to January 2027.

20
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
5,553
5,553
After more than one year
5,554
9,256
11,107
14,809
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
5,553
5,553
In two to five years
5,554
9,256
11,107
14,809

Finance lease payments represent rentals payable by the company for certain items of computer software acquired under hire purchase agreement. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 22 -
21
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated Capital Allowances (ACAs)
55,982
73,395
2025
Movements in the year:
£
Liability at 1 August 2024
73,395
Credit to profit or loss
(17,413)
Liability at 31 July 2025
55,982

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.

22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
50,857
50,558

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.

23
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
30,000
30,000
30,000
30,000
24
Related party transactions

Amounts owed by group undertakings of £7,031,570 (2024: £7,031,570) are unsecured, interest‑free, and repayable on demand. The directors have assessed recoverability and consider the balance fully recoverable.

25
Ultimate controlling party

The company's immediate and ultimate parent undertaking is Laser Lines Group Limited (incorporated in England & Wales company registration number 10550673).

Copies of the consolidated financial statements may be obtained from the registered office of Laser Lines Group Limited.

LASER LINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 23 -
26
Cash generated from operations
2025
2024
£
£
Profit/(loss) after taxation
565,688
(196,371)
Adjustments for:
Taxation charged
218,372
33,071
Finance costs
12,573
18,355
Investment income
(277)
(170)
Amortisation and impairment of intangible assets
3,332
3,334
Depreciation and impairment of tangible fixed assets
187,655
267,440
Movements in working capital:
Decrease in stocks
451,122
324,563
Decrease in debtors
350,558
427,618
(Decrease)/increase in creditors
(1,734,022)
313,336
Cash generated from operations
55,001
1,191,176
27
Analysis of changes in net debt
1 August 2024
Cash flows
31 July 2025
£
£
£
Cash at bank and in hand
436,706
(270,835)
165,871
Borrowings excluding overdrafts
(450,000)
180,000
(270,000)
Lease liabilities
(14,809)
3,702
(11,107)
(28,103)
(87,133)
(115,236)
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