ACCOUNTS - Final Accounts

COMMITMENTS UNDER OPERATING LEASES

At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 00503996

ARCOL UK LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

ARCOL UK LIMITED

REGISTERED NUMBER:00503996

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		160,100		198,331
Current assets
Stocks	5	1,467,634		1,993,427
Debtors	6	4,247,619		2,136,981
Cash at bank and in hand		190,349		170,685
		5,905,602		4,301,093
Creditors: amounts falling due within one year	7	(1,296,934)		(953,680)
Net current assets			4,608,668		3,347,413
Total assets less current liabilities			4,768,768		3,545,744
Provisions for liabilities	8		(26,189)		(35,050)
Net assets			4,742,579		3,510,694

Capital and reserves
Called up share capital	9	10,000	10,000
Share premium account		2,500	2,500
Capital redemption reserve		10,166	10,166
Profit and loss account		4,719,913	3,488,028
		4,742,579	3,510,694

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr D P Oliver

Director

Date:22 June 2026

The notes on pages 2 to 9 form part of these financial statements.

Page 1

ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

Arcol UK Limited (registered number 00503996) is a private limited liability company, incorporated in England. The Registered Office is Threemilestone Industrial Estate, Truro, Cornwall, TR4 9LG.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The company generated a profit in the current year of £1,231,885 (2024: £440,688) and at the year end date the company had net assets of £4,742,579 (2024: £3,510,694) and net current assets of £4,608,668 (2024: £3,347,413).

The company has prepared forecasts which anticipate it will continue to operate within its resources and believes it can withstand a reasonable level of unforeseen circumstances for a period of 12 months from the date of approval of the financial statements. This assessment is founded on the assumption that Arcol can maintain its operational efficiency, manage costs effectively, and adapt to the changing market conditions.

The financial statements have therefore been prepared on a going concern basis.

2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (continued)

2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

OPERATING LEASES: THE COMPANY AS LESSEE

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

2.6

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.7

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.8

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (continued)

2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.

2.11

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property	-	20% straight line
Plant and machinery	-	20% straight line
Computer equipment	-	20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (continued)

2.12

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.13

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.14

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.15

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.16

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 44 (2024: 47).

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ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	TANGIBLE FIXED ASSETS

	Short-term leasehold property	Plant and machinery	Computer equipment	Total
	£	£	£	£
COST
At 1 January 2025	96,227	1,781,122	-	1,877,349
Additions	-	29,852	7,153	37,005
Disposals	-	(9,748)	(2,671)	(12,419)
Transfers between classes	-	(118,611)	118,611	-
At 31 December 2025	96,227	1,682,615	123,093	1,901,935
DEPRECIATION
At 1 January 2025	72,302	1,606,716	-	1,679,018
Charge for the year on owned assets	8,055	57,162	7,617	72,834
Disposals	-	(7,936)	(2,081)	(10,017)
Transfers between classes	-	(90,041)	90,041	-
At 31 December 2025	80,357	1,565,901	95,577	1,741,835
NET BOOK VALUE
At 31 December 2025	15,870	116,714	27,516	160,100
At 31 December 2024	23,925	174,406	-	198,331

5.	STOCKS
		2025	2024
		£	£

Raw materials and consumables	752,095	994,369
Work in progress (goods to be sold)	18,921	26,194
Finished goods and goods for resale	696,618	972,864
	1,467,634	1,993,427

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ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

DEBTORS

					2025	2024
					£	£


Trade debtors	727,158	1,050,255
Amounts owed by group undertakings	3,412,686	831,908
Other debtors	-	142,021
Prepayments and accrued income	107,775	112,797
	4,247,619	2,136,981

The company is party to a cash pooling arrangement with a fellow group company. At the year end a balance of £3,412,686 (2024: £760,253) was due to the company from its fellow subsidiary in respect of this arrangement. The debt is repayable on demand and interest is calculated based on the return achieved. The remaining amount owed by group undertakings in the prior year were repayable on demand and interest free.

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Bank overdrafts	-	30,345
Trade creditors	233,682	283,971
Amounts owed to group undertakings	206,169	51,431
Corporation tax	419,313	58,661
Other taxation and social security	81,532	26,352
Other creditors	37,873	30,535
Accruals and deferred income	318,365	472,385
	1,296,934	953,680

8.	DEFERRED TAXATION

		2025
		£

	At beginning of year	35,050
	Charged to profit or loss	(8,861)
	AT END OF YEAR	26,189

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ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.DEFERRED TAXATION (CONTINUED)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances

26,189

35,050

9.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

10,000 (2024: 10,000) Ordinary shares of £1.00 each	10,000	10,000

10.	PENSION COMMITMENTS

The company operates a defined contribution scheme for the benefit of its staff. During the year contributions of £27,176 (2024: £30,645) were charged to the profit and loss account, and there were outstanding contributions of £6,239 (2024: £5,947) at the balance sheet date.

Not later than 1 year	91,061	85,000
Later than 1 year and not later than 5 years	121,445	191,250
	212,506	276,250

12.

RELATED PARTY TRANSACTIONS

At the period end, the company owed a balance of £79,714 (2024: £51,431) to Heico Luxembourg SARL its parent company. The company was also owed a balance of £3,412,686 (2024: £760,253)from Heico Netherlands (fellow subsidiary). During the period, the company was charged management charges of £417,608 (2024: £241,727) by Heico Luxemburg SARL and received interest income of £102,524 (2024: £60,027) from Heico Netherlands.

During the year, the company made sales of £686,021 (2024: £730,318) to Ohmite Manufacturing Inc, a subsidiary of The Heico Companies LLC, who own 100% of Heico Luxembourg SARL. The company also purchased £1,740,847 (2024: £426,360) of goods from Ohmite Manufacturing Inc. At the period end Ohmite Manufacturing Inc owed Arcol UK Limited £126,455 (2024: £71,655).

Page 8

ARCOL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

13.	CONTROLLING PARTY

The company is a wholly owned subsidiary of Heico Luxembourg SARL, a company registered in Luxembourg. The ultimate controlling party is The Heico Companies LLC, a company incorporated in the USA.

14.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 24 June 2026 by Kevin Connor FCA (Senior Statutory Auditor) on behalf of Bishop Fleming Audit Limited.

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