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REGISTERED NUMBER: 05315236 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

HEAVEY RF UK LTD

| HEAVEY RF UK LTD (Registered number: 05315236) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| HEAVEY RF UK LTD |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Michael Heavey

| Ronan Clinton

| Ciaran Lavelle

| Andrew Moloney

| Gerard Butler

| S I Watson

| REGISTERED OFFICE: | Unit 2 Lancaster Court

| Coronation Road

| Cressex Business Park

| High Wycombe

| Buckinghamshire

| HP12 3TD

| REGISTERED NUMBER: | 05315236 (England and Wales)

| ACCOUNTANTS: | RAA Cansdales Business Advisers Ltd

| St Mary's Court

| The Broadway

| Old Amersham

| Buckinghamshire

| HP7 0UT

| HEAVEY RF UK LTD (Registered number: 05315236) |

Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 3 | 18,657 |  | 17,546 |  |

CURRENT ASSETS

Stocks | 4 | 6,673 |  | 7,678 |  |

Debtors | 5 | 2,161,722 |  | 2,012,498 |  |

Cash at bank | 6 | 330,896 |  | 38,141 |  |

2,499,291 |  | 2,058,317 |  |

CREDITORS

Amounts falling due within one year | 7 | (1,284,366 | ) | (1,491,591 | ) |

NET CURRENT ASSETS | 1,214,925 |  | 566,726 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,233,582 |  | 584,272 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Retained earnings | 1,232,582 |  | 583,272 |  |

SHAREHOLDERS' FUNDS | 1,233,582 |  | 584,272 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| HEAVEY RF UK LTD (Registered number: 05315236) |

Balance Sheet - continued

31 December 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2026 and were signed on its behalf by:

S I Watson - Director

Ronan Clinton - Director

| HEAVEY RF UK LTD (Registered number: 05315236) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | ACCOUNTING POLICIES

| BASIS OF PREPARING THE FINANCIAL STATEMENTS

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| TURNOVER

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| TANGIBLE FIXED ASSETS

| Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

| Computer equipment - 20% Straight line

| Fixtures, fittings and equipment - 20% Straight line

| Plant & Machinery - 20% Straight line

| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

| STOCKS

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| TAXATION

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| DEFERRED TAX

| Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date which are immaterial.

| FOREIGN CURRENCIES

| 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 transaction. Exchange differences are taken into account in arriving at the operating result.

| HEAVEY RF UK LTD (Registered number: 05315236) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

1. | ACCOUNTING POLICIES - continued

| FINANCIAL INSTRUMENTS

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| BASIC FINANCIAL ASSETS

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| 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.

| 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 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. A m ousts 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.

| EMPLOYEE BENEFITS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

2. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2024 - 9 ) .

| HEAVEY RF UK LTD (Registered number: 05315236) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2025 | 64,181 |  | 42,794 |  | 524 |  | 107,499 |  |

| Additions | 1,697 |  | - |  | 5,961 |  | 7,658 |  |

| At 31 December 2025 | 65,878 |  | 42,794 |  | 6,485 |  | 115,157 |  |

| DEPRECIATION

| At 1 January 2025 | 47,651 |  | 41,778 |  | 524 |  | 89,953 |  |

| Charge for year | 4,605 |  | 750 |  | 1,192 |  | 6,547 |  |

| At 31 December 2025 | 52,256 |  | 42,528 |  | 1,716 |  | 96,500 |  |

| NET BOOK VALUE

| At 31 December 2025 | 13,622 |  | 266 |  | 4,769 |  | 18,657 |  |

| At 31 December 2024 | 16,530 |  | 1,016 |  | - |  | 17,546 |  |

4. | STOCKS

2025 | 2024 |

£ | £ |

| Finished goods | 6,673 |  | 7,678 |  |

5. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 650,623 |  | 371,086 |  |

| Directors' current accounts | 129,711 |  | 133,023 |  |

| CT Repayable - Section 455 tax

| on director debit balance | 43,421 |  | 43,421 |  |

| Prepayments | 14,531 |  | 15,997 |  |

| Service Support Prepayment | 1,131,608 |  | 1,263,563 |  |

1,969,894 |  | 1,827,090 |  |

| Amounts falling due after more than one year:

| Amounts owed by group undertakings | 191,828 |  | 185,408 |  |

| Aggregate amounts | 2,161,722 |  | 2,012,498 |  |

6. | CASH AT BANK

2025 | 2024 |

£ | £ |

| HSBC Current Account | 330,896 |  | 38,141 |  |

| HEAVEY RF UK LTD (Registered number: 05315236) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 356,540 |  | 253,636 |  |

| Corporation tax | 96,661 |  | 395,639 |  |

| Social security and other tax | 30,933 |  | 18,699 |  |

| VAT | 95,584 |  | 7,286 |  |

| Other creditors | 1,393 |  | - |  |

| Accruals and deferred income | 700,012 |  | 811,421 |  |

| Accrued expenses | 3,243 |  | 4,910 |  |

1,284,366 |  | 1,491,591 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 23,333 |  | 28,000 |  |

| Between one and five years | - |  | 23,333 |  |

23,333 |  | 51,333 |  |

9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025 | 2024 |

£ | £ |

| S I Watson

| Balance outstanding at start of year | 133,023 |  | 130,096 |  |

| Amounts advanced | - |  | 2,927 |  |

| Amounts repaid | (3,312 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 129,711 |  | 133,023 |  |

| The director, Steven Watson, received a loan from the company over two years. At the reporting date, the total loan repayable by the director to the company amounted to £129,711 (2024:133,023), and Interest of 3.75% has been charged on this loan.

| HEAVEY RF UK LTD (Registered number: 05315236) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

10. | RELATED PARTY DISCLOSURES

| Heavey RF UK Limited had purchases from Alton Future Technologies Limited during the year ended 31st December 2025 to the value of £21,368 (2024: 31,710) and there was no outstanding balance owed by Heavey RF UK Limited to Alton Future Technologies Limited at the 31st December 2025 (2024 : £NIL).

| The directors of Heavey RF UK Limited are also the directors of Heavey Radio Frequency Data Systems Limited and Heavey Radio Frequency Data Systems Limited is also a shareholder of Heavey RF UK Limited. The owner of Alton Future Technologies Limited is a director and shareholder of Heavey RF UK Limited.

| In the opinion of the directors these amounts arise in the ordinary course of business and the terms of the amounts due are in accordance with the terms ordinarily offered by the company.

| Transactions and balances with group company:

| Heavey Radio Frequency Data Systems Limited

| During the year, Heavey RF UK Limited had sales of £398,964 (2024: £467,332) to Heavey Radio Frequency Data Systems Limited and purchases of £71,610 (2024: 146,388) from Heavey Radio Frequency Data Systems Limited.

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Amount due from/(owed to) Heavey Radio Frequency Data Systems Limited |  | 191,828 |  | 185,408 |  |

11. | ULTIMATE CONTROLLING PARTY

| The company regards Heavey Radio Frequency Data Systems Limited as its parent company.