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

The principal activity of the company is the fabrication and high-integrity coded welding of safety critical pressure vessels, structures and storage containers. LTi Metaltech Ltd is a leading independent manufacturer of cryogenic and pressure vessels as used in highly regulated environments. The principal customer remains Siemens Healthineers, but it is hoped recent enhanced investment in business development will lead to serial manufacturing opportunities in sectors such as renewables and nuclear decontamination.

Our vision and strategies for the future remain clearly focused on the expansion of our technical capabilities to enable development and manufacture of an increasingly diverse and complex range of products for new markets and an expanding customer base. We continue to harness inter-company collaboration opportunities, both with our subsidiary company LTI Vessco Ltd in Bridgend and with our parent company LTI Metalltechnik GmbH in Germany.

Financial performance in 2025 saw turnover fall 10% to £25.8 million, but careful control of overhead expenditure helped to maintain operating profits at £0.6 million. The company carefully monitors commodity prices and currency exchange rates and adopts appropriate hedging strategies mitigating against significant fluctuations in both.

LTi Metaltech is very aware of its environmental responsibilities and has made a number of significant improvements to its carbon footprint this year. All company cars are now fully electric and we are now fully signed-up to green energy.

The outlook for manufacturing SMEs remains full of uncertainty; supply-chain shocks, logistics complexities, lengthening material lead times, and energy cost increases in particular. The company will continue to actively manage these risks through the adoption of appropriate strategies and targeted investment in technology to improve productivity.

Innovative deployment of our manufacturing technologies has enabled continued involvement in collaborative development of new products with key customers.

We have maintained accreditations for quality, environment and health and safety, and we are proud to deliver high quality products on time, whilst maintaining a safe place to work and safeguarding our environment.

The Company considers that its key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, primarily turnover and gross margin.

In the year to 31st December 2025, turnover decreased to £25.8 million, compared to £28.6 million in the year ended 2024. Despite this, gross profit increased slightly to £4.9 million, largely due to improved labour efficiencies.

On behalf of the board

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

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

An interim dividend was not paid during the year (2024: £nil). The directors do not recommend payment of a final dividend.

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

The auditor, Shaw Gibbs (Audit) Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

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

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

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

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's Strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the Directors' report. It has done so in respect of future developments and financial risk management.

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.

The company derives the vast majority of its turnover from one customer. Both companies remain dependent upon one another in the short to medium term and the directors are therefore confident that the companies will continue to trade with each other, at similar levels of activity, for the foreseeable future. This is demonstrated by a contractual supply agreement entered into by the parties involved. The current agreement was renewed in the year for a further 3 years to 30th September 2028.

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

We have audited the financial statements of LTI Metaltech Limited (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, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the strategic report and the directors' 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.

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.

As explained more fully in the directors' responsibilities statement, 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.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

1. At the planning stage of the audit we gain an understanding of the laws and regulations which apply to the company and how the management seek to comply with those laws and regulations. This helps us to plan appropriate risk assessments.

    

2. During the audit we focus on relevant risk areas and review the compliance with the laws and regulations by making relevant enquiries and undertaking corroboration, for example by reviewing Board Minutes and other documentation.

    

3. We assess the risk of material misstatement in the financial statements including as a result of fraud and undertook procedures including:

1. Reviewing the controls set in place by management;

2. Making enquiries of management as to whether they consider fraud or other irregularity may have taken place, or where such opportunity might exist;

3. Challenging management assumptions with regard to accounting estimates, such as dilapidations;

4. Identifying and testing journal entries, particularly those which appear to be unusual by size or nature; and

5. Reviewing the health and safety measures in place and obtaining the reports of the health and safety inspections to ensure adherence.

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.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

The statement of total comprehensive income has been prepared on the basis that all operations are continuing operations.

There are no recognised gains or losses other than those passing through the statement of total comprehensive income.

The notes on pages 11 to 23 form an integral part of these financial statements.

The notes on pages 11 to 23 form an integral part of these financial statements.

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

The notes on pages 11 to 23 form an integral part of these financial statements.

The notes on pages 11 to 23 form an integral part of these financial statements.

LTI Metaltech Limited (the "company") is a private company limited by shares and incorporated in England and Wales. The registered office is 163 Brook Drive, Milton Park, Abingdon, Oxfordshire, OX14 4SD.

The company's principal activities and nature of operations are included within the Strategic report.

These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS102") and the requirements of the Companies Act 2006, including the provisions of the Large and Medium sized Companies and Group (Accounts and

Reports) Regulations 2008.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

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

In accordance with FRS102 paragraph 33.1A, the exemption has been taken from disclosing transactions and balances with group companies on the basis that every subsidiary that is party to such transactions is wholly owned by Isaak Holding GmbH or LTi Metaltech Limited.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

LTI Metaltech Limited is a wholly owned subsidiary of Isaak Holding GmbH and the results of LTI Metaltech Limited are included in the consolidated financial statements of Isaak Holding GmbH which are available from Rudolf-Diesel- Str.7, 97944, Boxberg/Baden, Germany.

The company derives the vast majority of its turnover from one customer. Both companies remain dependent upon one another in the short to medium term and the directors are therefore confident that the companies will continue to trade with each other, at similar levels of activity, for the foreseeable future. This is demonstrated by a contractual supply agreement entered into by the parties involved. trueThe current agreement was renewed in the year for a further 3 years to 30th September 2028.

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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. Invoices to the primary customer are raised weekly to recognise the goods appropriated by the customer.

Interest income is recognised using the effective interest rate method.

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

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

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 recognised in the statement of total comprehensive income.

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.

At each reporting period end date, the company reviews the carrying amounts of its fixed asset investments and tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell after making due allowance for obsolete and slow moving items. Work in progress is valued on the basis of direct costs plus attributable overheads based on the level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation.

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets, which include trade and other debtors, amounts owed from group undertakings, 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.

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.

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.

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.

Basic financial liabilities, including trade and other creditors, and amounts owed to group undertakings, 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 payments 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. Amounts 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.

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

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.

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

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

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on material timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

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.

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. Differences between contributions payable during the year and contributions actually paid are held within accruals or other creditors.

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.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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 consider there to be no critical judgements that are material to the company.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete stock and slow moving items. Work in progress is valued on the basis of direct costs plus attributable overheads, based on the level of activity. Provision is made for any foreseeable losses, where appropriate. No element of profit is included in the valuation. At the reporting date, the directors have included a provision of £20,427 (2024: £13,686).

The calculation of the above provisions requires judgements to be made, which include a number of variables, such as, the forecast customer demand, the economic environment, the ageing of stock and the discontinuation of certain product lines by the company's key customer. These variables are monitored by the directors and a provision is in place to mitigate the relevant risks.

Standard cost is also considered a significant estimate. The directors monitor and review the cost annually and update accordingly.

The useful economic lives of non-current assets have been derived from the judgement of the directors, using their best estimate of the write-down period. At the reporting date, the company holds tangible fixed assets with a net book value of £657,181 (2024: £741,977).

The dilapidations provision with respect to the premises rented by the company is based on a professional dilapidations assessment that was carried out in 2025 by a firm of Chartered Surveyors. The adequacy of the dilapidations provision and the necessity for an additional professional assessment is monitored by the directors on an annual basis. Adjustments are made as and when necessary to ensure the adequacy of the relevant provision. At the reporting date, the directors have included a provision of £440,483 (2024: £748,735) in respect to dilapidations. Based on the 2025 updated report, the dilapidations provision has been reduced accordingly.

The company enters into supplier contracts to purchase materials over certain periods of time in order to fulfil the demand from its principal customer. From time to time the principal customer may discontinue certain product lines and as a result, the company may be in a position where it is contracted to purchase additional materials with respect to discontinued product lines. The directors monitor continuously the demand from its principal customer and they also enter into proactive negotiations to ensure that the discontinuance of certain product lines is managed proactively and does not result in the company being committed to purchase excess stock that cannot be used in other product lines. Despite that and the fact that there is an understanding that the principal supplier will meet such commitments in case of sudden product discontinuations, from time to time a materials provision may be necessary. The provision is estimated by the directors to be the cost of the stock that the company is committed to purchase with respect to discontinued product lines and cannot be used in the manufacturing of others and will not be met by its principal supplier.

The cost of investment regarding the acquisition of Vessco Engineering Limited includes £150,000 with respect to the contingent consideration that will become due if Vessco Engineering Limited achieve profits agreed in the share purchase agreement in the 36 months following the acquisition date. On 16 June 2024, 36 months following the acquisition, the directors of LTi were of the opinion that the relevant performance objectives had been met and therefore the contingent consideration became payable. A corresponding amount of £56,447 was recognised within other creditors in 2024 (2025: £nil) in relation to this consideration.

In their assessment, the directors have taken into consideration the post acquisition performance of Vessco Engineering Limited as well as the forecasted figures for the contingent consideration period which incorporate all available information to the date of their assessment.

The company's turnover for the current and prior year related solely to income from manufacturing fabricated metal products.

Turnover is attributable to trade within the United Kingdom.

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

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024: 2).

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

Depreciation of plant and machinery is included within cost of sales in the Statement of comprehensive income. The remainder of depreciation is included within administrative expenses.

Details of the company's subsidiary at 31 December 2025 are as follows:

Amounts due from fellow group undertakings are unsecured, do not bear interest and are repayable in full on 31 January 2027. Amounts due from subsidiary undertakings are also unsecured, do not bear interest and are repayable on demand.

The balance of provisions relate to property dilapidations of £440,483 (2024: £748,735) based on the cost estimated by an independent surveyor.

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:

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.

At the year end date amounts payable to the pension scheme totalled £39,384 (2024: £51,022).

The company's ordinary A shares, which are non redeemable and carry no right to fixed income, each carry the right to one vote at general meetings of the company and rank equally for any dividends declared.

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

Amounts contracted for but not provided in the financial statements:

During the year, the company entered into a supplier agreement to purchase stainless steel, approx. 1,084 tonnes, starting in October 2025 and expected to finish in September 2026 at a total cost of c£3.19m. The relevant stock will be delivered directly to the company’s premises.

During the year, the company entered into a supplier agreement to purchase aluminium, approx. 283 tonnes, starting in October 2025 and expected to finish in September 2026 at a total cost of c£0.990m. The relevant stock will be delivered directly to the company’s premises.

At the reporting date, the company had capital expenditure commitments of approximately £85,000 in respect of proposed solar panel installations. These commitments are subject to approval from the landlord, local authorities, insurers and other relevant parties. No solar panels had been installed as at the balance sheet date.

LTi Metaltech Limited is a wholly owned subsidiary of Isaak Holding GmbH, a company based in Rudolf - Diesel- Str.7, 97944, Boxberg/ Baden, Germany. Isaak Holding GmbH is the smallest and largest group to include the results of the company. The ultimate controlling parties are K Isaak and his family.

In accordance with FRS102 paragraph 33.1A, the exemption has been taken from disclosing transactions and balances with group companies on the basis that every subsidiary that is party to such transactions is wholly owned by Isaak Holding GmbH.

There were no other related party transactions and balances that require disclosure.

No guarantees have been given or received.