Silverfin false false 31/12/2025 01/01/2025 31/12/2025 G B N Cardozo MBE 08/12/2022 P S Dunn 16/03/2026 22/03/2021 A E Head 14/01/2021 G M Zambellas 11/07/2023 05 June 2026 no description of principal activity 07120913 2025-12-31 07120913 bus:Director1 2025-12-31 07120913 bus:Director2 2025-12-31 07120913 bus:Director3 2025-12-31 07120913 bus:Director4 2025-12-31 07120913 2024-12-31 07120913 core:CurrentFinancialInstruments 2025-12-31 07120913 core:CurrentFinancialInstruments 2024-12-31 07120913 core:Non-currentFinancialInstruments 2025-12-31 07120913 core:Non-currentFinancialInstruments 2024-12-31 07120913 core:ShareCapital 2025-12-31 07120913 core:ShareCapital 2024-12-31 07120913 core:OtherCapitalReserve 2025-12-31 07120913 core:OtherCapitalReserve 2024-12-31 07120913 core:RetainedEarningsAccumulatedLosses 2025-12-31 07120913 core:RetainedEarningsAccumulatedLosses 2024-12-31 07120913 core:OtherResidualIntangibleAssets 2024-12-31 07120913 core:OtherResidualIntangibleAssets 2025-12-31 07120913 core:LandBuildings 2024-12-31 07120913 core:PlantMachinery 2024-12-31 07120913 core:Vehicles 2024-12-31 07120913 core:FurnitureFittings 2024-12-31 07120913 core:OfficeEquipment 2024-12-31 07120913 core:OtherPropertyPlantEquipment 2024-12-31 07120913 core:LandBuildings 2025-12-31 07120913 core:PlantMachinery 2025-12-31 07120913 core:Vehicles 2025-12-31 07120913 core:FurnitureFittings 2025-12-31 07120913 core:OfficeEquipment 2025-12-31 07120913 core:OtherPropertyPlantEquipment 2025-12-31 07120913 core:CostValuation 2024-12-31 07120913 core:CostValuation 2025-12-31 07120913 core:OtherProvisionsContingentLiabilities 2024-12-31 07120913 core:OtherProvisionsContingentLiabilities 2025-12-31 07120913 2025-01-01 2025-12-31 07120913 bus:FilletedAccounts 2025-01-01 2025-12-31 07120913 bus:SmallEntities 2025-01-01 2025-12-31 07120913 bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 07120913 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 07120913 bus:Director1 2025-01-01 2025-12-31 07120913 bus:Director2 2025-01-01 2025-12-31 07120913 bus:Director3 2025-01-01 2025-12-31 07120913 bus:Director4 2025-01-01 2025-12-31 07120913 core:OtherResidualIntangibleAssets core:TopRangeValue 2025-01-01 2025-12-31 07120913 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 07120913 core:LandBuildings core:TopRangeValue 2025-01-01 2025-12-31 07120913 core:PlantMachinery core:TopRangeValue 2025-01-01 2025-12-31 07120913 core:Vehicles core:TopRangeValue 2025-01-01 2025-12-31 07120913 core:FurnitureFittings core:TopRangeValue 2025-01-01 2025-12-31 07120913 core:OfficeEquipment core:TopRangeValue 2025-01-01 2025-12-31 07120913 core:OtherPropertyPlantEquipment core:TopRangeValue 2025-01-01 2025-12-31 07120913 2024-01-01 2024-12-31 07120913 core:OtherResidualIntangibleAssets 2025-01-01 2025-12-31 07120913 core:LandBuildings 2025-01-01 2025-12-31 07120913 core:PlantMachinery 2025-01-01 2025-12-31 07120913 core:Vehicles 2025-01-01 2025-12-31 07120913 core:FurnitureFittings 2025-01-01 2025-12-31 07120913 core:OfficeEquipment 2025-01-01 2025-12-31 07120913 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 07120913 core:Subsidiary1 2025-01-01 2025-12-31 07120913 core:Subsidiary1 1 2025-01-01 2025-12-31 07120913 core:Subsidiary1 1 2024-01-01 2024-12-31 07120913 core:Non-currentFinancialInstruments 2025-01-01 2025-12-31 iso4217:GBP xbrli:pure decimalUnit

Company No: 07120913 (England and Wales)

# ROTRON AEROSPACE LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

ROTRON AEROSPACE LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

ROTRON AEROSPACE LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2025
ROTRON AEROSPACE LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2025

DIRECTORS | G B N Cardozo MBE
| P S Dunn (Resigned 16 March 2026)
| A E Head
| G M Zambellas

REGISTERED OFFICE | 22 Chancery Lane
| London
| WC2A 1LS
| United Kingdom

COMPANY NUMBER | 07120913 (England and Wales)

ROTRON AEROSPACE LIMITED

## BALANCE SHEET

As at 31 December 2025
ROTRON AEROSPACE LIMITED

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 1,133 |  | 833
Tangible assets | 4 | 256,130 |  | 274,743
Investments | 5 | 417 |  | 417
|  | 257,680 |  | 275,993
Current assets |  |  |  |
Stocks |  | 1,118,880 |  | 336,613
Debtors | 6 | 2,259,346 |  | 1,068,581
Cash at bank and in hand |  | 518,407 |  | 311,003
|  | 3,896,633 |  | 1,716,197
Creditors: amounts falling due within one year | 7 | ( 1,237,673) |  | ( 236,464)
Net current assets |  | 2,658,960 |  | 1,479,733
Total assets less current liabilities |  | 2,916,640 |  | 1,755,726
Creditors: amounts falling due after more than one year | 8 | ( 2,873,729) |  | ( 2,212,510)
Provision for liabilities | 9 | ( 50,000) |  | ( 50,000)
Net liabilities |  | ( 7,089) |  | ( 506,784)
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Other reserves |  | 33,592 |  | 0
Profit and loss account |  | ( 40,781 ) |  | ( 506,884 )
Total shareholder's deficit |  | ( 7,089) |  | ( 506,784)

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

Directors' responsibilities:

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

The financial statements of Rotron Aerospace Limited (registered number: 07120913) were approved and authorised for issue by the Board of Directors on 05 June 2026. They were signed on its behalf by:

A E Head Director |

ROTRON AEROSPACE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
ROTRON AEROSPACE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

Rotron Aerospace Limited (the Company) is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 07120913). The registered office address is 9 Chaldicott Barns, Tokes Lane, Semley, Shaftesbury, SP7 9AW, England, United Kingdom.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

##### Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

##### Foreign currency

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

##### Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Contract turnover represents amounts earned from contracts with customers and is recognised when control of the promised goods transfers to the customer, in an amount that reflects the consideration to which the Company expects to be entitled. Where a contract contains more than one performance obligation, the transaction price is allocated to each obligation based on their relative standalone selling prices. Contract turnover is recognised over time where the customer simultaneously receives and consumes the benefits of the Company’s performance, controls the asset as it is created, or where the Company has an enforceable right to payment for performance completed to date; otherwise, revenue is recognised at a point in time when control transfers. The Company measures progress towards completion of a performance obligation using the input method, based on costs incurred at the period end as a proportion of total expected costs for the contract.

##### Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### 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.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Taxation

Current 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.
The R&D expenditure credit (RDEC) is recognised as other operating income in the profit and loss account in the period in which the related expenditure is incurred.
Deferred tax
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

##### Intangible assets

Patents are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is calculated to write off the cost of the patents in equal annual instalments over their useful life of 10 years.

Other intangible assets | 10 years straight line

###### 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, which range from 3 to 6 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.

##### 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.
Depreciation is provided on the following basis:

Land and buildings | 10 years straight line
Plant and machinery | 15 years straight line
Vehicles | 4 years straight line
Fixtures and fittings | 4 years straight line
Office equipment | 4 years straight line
Other property, plant and equipment | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

##### Impairment of assets

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

##### Fixed asset investments

Fixed asset investments comprise of investments in subsidiary companies. These investments are initially measured at cost less subsequent impairment.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and sub-contract work. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
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.

##### Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company's cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its Liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Convertible loan notes
The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition, the financial liability component is recorded at its fair value. At the date of issue, in the case of a convertible bond denominated in the functional currency of the issuer that may be converted into a fixed number of equity shares, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in the equity reserve within equity and is not subsequently remeasured.

##### Provisions

Provisions for dilapidations are recognised based on the present obligation to restore leasehold premises to their original condition.
The amount recognised as a provision is the management’s best estimate of the consideration required to settle that obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

##### 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.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 21 |  | 21

#### 3. Intangible assets

| Other intangible assets |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2025 | 1,000 |  | 1,000
Additions | 440 |  | 440
At 31 December 2025 | 1,440 |  | 1,440
Accumulated amortisation |  |  |
At 01 January 2025 | 167 |  | 167
Charge for the financial year | 140 |  | 140
At 31 December 2025 | 307 |  | 307
Net book value |  |  |
At 31 December 2025 | 1,133 |  | 1,133
At 31 December 2024 | 833 |  | 833

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 20,906 |  | 378,740 |  | 24,695 |  | 53,784 |  | 149,144 |  | 7,962 |  | 635,231
Additions | 0 |  | 6,471 |  | 0 |  | 0 |  | 27,607 |  | 2,031 |  | 36,109
At 31 December 2025 | 20,906 |  | 385,211 |  | 24,695 |  | 53,784 |  | 176,751 |  | 9,993 |  | 671,340
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 4,834 |  | 165,517 |  | 14,491 |  | 48,302 |  | 124,796 |  | 2,548 |  | 360,488
Charge for the financial year | 2,091 |  | 25,532 |  | 6,174 |  | 3,139 |  | 15,582 |  | 2,204 |  | 54,722
At 31 December 2025 | 6,925 |  | 191,049 |  | 20,665 |  | 51,441 |  | 140,378 |  | 4,752 |  | 415,210
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2025 | 13,981 |  | 194,162 |  | 4,030 |  | 2,343 |  | 36,373 |  | 5,241 |  | 256,130
At 31 December 2024 | 16,072 |  | 213,223 |  | 10,204 |  | 5,482 |  | 24,348 |  | 5,414 |  | 274,743

#### 5. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 January 2025 | 417
| 0
At 31 December 2025 | 417
Carrying value at 31 December 2025 | 417
Carrying value at 31 December 2024 | 417

Investments in shares

Name of entity | Registered office | Principal activity | Class of shares | Ownership 31.12.2025 | Ownership 31.12.2024
Rotron Power Inc. | P.O. Box 33472 Washington DC 20033-0742 | Manufacture of air and spacecraft and related machinery | Ordinary | 100.00% | 100.00%

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 127,532 |  | 50,451
Amounts owed by group undertakings | 1,072,195 |  | 699,864
Prepayments and accrued income | 452,616 |  | 30,232
VAT recoverable | 35,742 |  | 0
Corporation tax | 571,261 |  | 288,034
| 2,259,346 |  | 1,068,581

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 9,750 |  | 9,750
Trade creditors | 335,849 |  | 83,458
Accruals | 607,891 |  | 61,847
Other taxation and social security | 145,674 |  | 34,808
Other creditors | 138,509 |  | 46,601
| 1,237,673 |  | 236,464

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 15,650 |  | 21,512
Convertible loan notes | 489,783 |  | 0
Other loans | 2,368,296 |  | 2,190,998
| 2,873,729 |  | 2,212,510

Convertible loan notes comprise a principal value of £510,000 plus interest, discounted to present value, with a maturity date in February 2027. They are secured by way of a first fixed charge over the company’s assets.
Other loans comprise long-term debt of £2,000,000 plus interest, repayable in November 2026. The loan is personally guaranteed by one of the directors.

#### 9. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Other provisions | 50,000 |  | 50,000

| Other |  | Total
| £ |  | £
At 01 January 2025 | 50,000 |  | 50,000
At 31 December 2025 | 50,000 |  | 50,000

Other provisions relates to provisions for dilapidations.

#### 10. Commitments under operating leases

At 31 December 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 | 87,500 |  | 87,500
Later than 1 year and not later than 5 years | 350,000 |  | 350,000
Later than 5 years | 96,875 |  | 184,375
| 534,375 |  | 621,875