Pyropress Limited
Annual Report and Financial Statements
For the year ended 31 December 2025
Company Registration No. 11162583 (England and Wales)
Pyropress Limited
Company Information
Directors
G E Nicholson
B Quarendon
S Burns
S Noakes
(Appointed 22 May 2025)
J Morgan
(Appointed 22 May 2025)
J Foley
(Appointed 2 April 2026)
T Huez
(Appointed 2 April 2026)
S Barrette
(Appointed 2 April 2026)
J Dhillon
(Appointed 2 April 2026)
Company number
11162583
Registered office
Bell Close
Newnham Industrial Estate
Plympton
Plymouth
PL7 4JH
Auditor
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Pyropress Limited
Contents
Page
Directors' report
1 - 2
Independent auditor's report
3 - 7
Statement of income and retained earnings
8
Balance sheet
9
Notes to the financial statements
10 - 17
Pyropress Limited
Directors' Report
For the year ended 31 December 2025
Page 1

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

Principal activities

The principal activity of the company is that of designer and manufacturer of switches and transmitters.

Directors

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

I Abrahams
(Resigned 22 May 2025)
G E Nicholson
B Quarendon
S E Schmidt-Chiari
(Resigned 22 May 2025)
S Burns
S Noakes
(Appointed 22 May 2025)
J Morgan
(Appointed 22 May 2025)
J Foley
(Appointed 2 April 2026)
T Huez
(Appointed 2 April 2026)
S Barrette
(Appointed 2 April 2026)
J Dhillon
(Appointed 2 April 2026)
Auditor

The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

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.

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.

Pyropress Limited
Directors' Report (Continued)
For the year ended 31 December 2025
Page 2
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
J Morgan
Director
10 July 2026
Pyropress Limited
Independent Auditor's Report
To the Members of Pyropress Limited
Page 3
Opinion

We have audited the financial statements of Pyropress Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, the Balance Sheet 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 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 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.

Pyropress Limited
Independent Auditor's Report (Continued)
To the Members of Pyropress Limited
Page 4

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 Directors' R eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the Directors' Report has been prepared in accordance with applicable legal requirements.

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 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; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Directors' R esponsibilities S tatement, 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.

Pyropress Limited
Independent Auditor's Report (Continued)
To the Members of Pyropress Limited
Page 5
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.

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

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Pyropress Limited
Independent Auditor's Report (Continued)
To the Members of Pyropress Limited
Page 6

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

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 objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.

- We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

- We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Pyropress Limited
Independent Auditor's Report (Continued)
To the Members of Pyropress Limited
Page 7

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.

Karen Wardell
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
10 July 2026
Chartered Accountants
Statutory Auditor
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Pyropress Limited
Statement of Income and Retained Earnings
For the year ended 31 December 2025
Page 8
2025
2024
Notes
£
£
Turnover
3,595,043
3,519,832
Cost of sales
(1,592,370)
(1,529,516)
Gross profit
2,002,673
1,990,316
Distribution costs
(32,189)
(37,233)
Administrative expenses
(1,335,381)
(1,445,774)
Operating profit
635,103
507,309
Interest payable and similar expenses
-
0
(6)
Profit before taxation
635,103
507,303
Tax on profit
3
(141,653)
(126,671)
Profit for the financial year
493,450
380,632
Retained earnings brought forward
1,559,507
1,178,875
Dividends
(200,000)
-
0
Retained earnings carried forward
1,852,957
1,559,507

The Statement of Income and Retained Earnings has been prepared on the basis that all operations are continuing operations.

Pyropress Limited
Balance Sheet
As at 31 December 2025
Page 9
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
37,184
70,880
Tangible assets
5
209,680
243,023
246,864
313,903
Current assets
Stock
707,067
772,418
Debtors
6
1,314,654
649,148
Cash at bank and in hand
126,866
176,170
2,148,587
1,597,736
Creditors: amounts falling due within one year
7
(542,394)
(352,032)
Net current assets
1,606,193
1,245,704
Net assets
1,853,057
1,559,607
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
1,852,957
1,559,507
Total equity
1,853,057
1,559,607

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 10 July 2026 and are signed on its behalf by:
J Morgan
Director
Company Registration No. 11162583
Pyropress Limited
Notes to the Financial Statements
For the year ended 31 December 2025
Page 10
1
Accounting policies
Company information

Pyropress Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bell Close, Newnham Industrial Estate, Plympton, Plymouth, PL7 4JH.

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 as applicable to companies subject to the small companies regime.

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 pound.

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

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. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;

- Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash f low and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, 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 26 ‘Share based Payment’ – Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

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

The financial statements of the company are consolidated in the financial statements of Pioneer Ideso Holdings Limited. These consolidated financial statements are available from its registered office, 1 Mercer Street, London, WC2H 9QJ.

1.2
Going concern

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 and for a period of not less than 12 months from the date of signing these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Pyropress Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 11
1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
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
Straight line over 3 years
Intellectual property
Straight line over 3 years
1.6
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.

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:

Leasehold improvements
Straight line over 10 years
Plant and equipment
Straight line over 10 years
Fixtures and fittings
Straight line over 3 or 5 years

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.

1.7
Stock

Stock s 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 stock to their present location and condition.

Stock held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. This is assessed based on the last fulfilment date of each item, ranging from 50% to 100% for items last used between 1 - 2 years.

1.8
Cash at bank and in hand

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.

Pyropress Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 12
1.9
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 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.

1.10
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.

Pyropress Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 13
1.11
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.

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.

1.12
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.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss 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 d asset are consumed.

1.15
Foreign exchange

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.

Pyropress Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 14
2
Employees

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

2025
2024
Number
Number
Total
29
30
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
138,909
113,633
Deferred tax
Origination and reversal of timing differences
2,744
13,038
Total tax charge
141,653
126,671
4
Intangible fixed assets
Software
Intellectual property
Total
£
£
£
Cost
At 1 January 2025 and 31 December 2025
38,515
84,035
122,550
Amortisation and impairment
At 1 January 2025
23,660
28,010
51,670
Amortisation charged for the year
5,685
28,011
33,696
At 31 December 2025
29,345
56,021
85,366
Carrying amount
At 31 December 2025
9,170
28,014
37,184
At 31 December 2024
14,855
56,025
70,880
Pyropress Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 15
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2025
206,288
307,983
138,638
652,909
Additions
2,606
15,964
8,345
26,915
At 31 December 2025
208,894
323,947
146,983
679,824
Depreciation and impairment
At 1 January 2025
79,546
228,504
101,836
409,886
Depreciation charged in the year
20,635
17,983
21,640
60,258
At 31 December 2025
100,181
246,487
123,476
470,144
Carrying amount
At 31 December 2025
108,713
77,460
23,507
209,680
At 31 December 2024
126,742
79,479
36,802
243,023
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
667,796
460,839
Amounts owed by group undertakings
565,420
108,599
Other debtors
4,744
16,673
Prepayments and accrued income
50,103
33,702
1,288,063
619,813
Deferred tax asset
26,591
29,335
1,314,654
649,148
Pyropress Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 16
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
277
Trade creditors
210,838
148,185
Amounts owed to group undertakings
271,210
38,654
Corporation tax
-
0
113,633
Other taxation and social security
1,088
-
0
Other creditors
59,258
51,283
542,394
352,032
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100

9
Financial commitments, guarantees and contingent liabilities

At the balance sheet date, Pyropress Limited is included in a cross guarantee, in favour of Barclays PLC, between Pioneer Ideso Holdings Limited, Petrel Limited, Pyroban Group Limited, Pyropress (Propco) Limited, Ideso Group Limited, Allenwest Pioneer Limited, Allenwest Group Limited, Petrel Pioneer Limited, Pyroban Limited, Pyropress Limited, Allenwest Wallacetown Limited (formerly Allenwest Limited), Baldwin & Francis Limited and Pioneer Safety Group Limited. All of the parties have joint and several liability to Barclays PLC and the facility is secured by way of a fixed and floating charge over the assets and undertakings of all above named companies. The total amount of liability in Pioneer Ideso Holdings Limited in relation to the group companies named above under the agreement at 31 December 2025 was £11,759,835 (2024: £9,920,702).

10
Operating lease commitments
Lessee

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

2025
2024
£
£
Within one year
80,770
80,770
Between two and five years
136,977
217,747
217,747
298,517
Pyropress Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 17
11
Events after the reporting date

On 2 April 2026, Cognesense Holdings UK Limited acquired 100% of the share capital of Pioneer Safety Group Limited. Prior to the transaction Pioneer Safety Group Limited held an 85.5% interest in Pyropress (PropCo) Limited, the immediate parent undertaking.

12
Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 not to disclose transactions with other wholly owned subsidiaries within the group.

Pyroban Limited:

During the year, Pyropress made sales of £172,263 (2024: £83,877) to Pyroban Limited, a company under common control. All transactions occurred at market rate. In addition, purchases of £130,182 (2024: £32,017) were made from Pyroban Limited. At the year end, there is a net amount due to Pyroban Limited of £4,069 (2024: £2,982).

Petrel Limited:

During the year, purchases of £41,657 (2024: £nil) were made from Petrel Limited, a company under common control. All transactions occurred at market rate. At the year end, there is a net amount due to Petrel Limited of £13,528 (2024: £nil).

Pioneer Ideso Holdings Limited:

At the year end, there is a net amount due from Pioneer Ideso Holdings Limited, the intermediary parent company, of £nil (2024: £105,629).

Longacre Group Limited:

During the year management charges amounting to £50,000 (2024: £50,000) and payment of tax losses of £247,892 (2024: £nil) were paid to Longacre Group Limited, the ultimate parent company. At 31 December 2025, an amount of £253,193 (2024: £5,000) is payable to Longacre Group Limited.

13
Ultimate controlling party

The company is a wholly owned subsidiary of Py ropress (Propco) Limited, a company i ncorporated in England and Wales. The ultimate parent undertaking wa s Longacre Group Limited, a company incorporated in England and Wales.

Pioneer Ideso Holdings Limited is the smallest group to prepare consolidated financial statements which include these financial statements. Longacre Group Limited is the largest group to prepare consolidated financial statements which include these financial statements. Copies of the consolidated financial statements can be obtained from 1 Mercer Street, London, WC2H 9QJ.

Since the balance sheet date the ultimate parent company is L2 Cognesense Parent Holdings LP, a company incorporated in the United States.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2026.100 I Abrahams G E Nicholson B Quarendon S E Schmidt-Chiari S Burns S Noakes J Morgan J Foley T Huez S Barrette J Dhillon 11162583 2025-01-01 2025-12-31 11162583 bus:Director2 2025-01-01 2025-12-31 11162583 bus:Director3 2025-01-01 2025-12-31 11162583 bus:Director5 2025-01-01 2025-12-31 11162583 bus:Director6 2025-01-01 2025-12-31 11162583 bus:Director7 2025-01-01 2025-12-31 11162583 bus:Director8 2025-01-01 2025-12-31 11162583 bus:Director9 2025-01-01 2025-12-31 11162583 bus:Director10 2025-01-01 2025-12-31 11162583 bus:Director11 2025-01-01 2025-12-31 11162583 bus:Director1 2025-01-01 2025-12-31 11162583 bus:Director4 2025-01-01 2025-12-31 11162583 bus:RegisteredOffice 2025-01-01 2025-12-31 11162583 2025-12-31 11162583 2024-01-01 2024-12-31 11162583 core:RetainedEarningsAccumulatedLosses 2024-12-31 11162583 core:RetainedEarningsAccumulatedLosses 2023-12-31 11162583 core:ShareCapital 2025-12-31 11162583 core:ShareCapital 2024-12-31 11162583 core:RetainedEarningsAccumulatedLosses 2025-12-31 11162583 core:RetainedEarningsAccumulatedLosses 2024-12-31 11162583 2024-12-31 11162583 core:ShareCapitalOrdinaryShareClass1 2025-12-31 11162583 core:ShareCapitalOrdinaryShareClass1 2024-12-31 11162583 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 11162583 core:IntangibleAssetsOtherThanGoodwill 2025-12-31 11162583 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-12-31 11162583 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 11162583 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 11162583 core:LeaseholdImprovements 2025-12-31 11162583 core:PlantMachinery 2025-12-31 11162583 core:FurnitureFittings 2025-12-31 11162583 core:LeaseholdImprovements 2024-12-31 11162583 core:PlantMachinery 2024-12-31 11162583 core:FurnitureFittings 2024-12-31 11162583 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 11162583 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11162583 core:CurrentFinancialInstruments 2025-12-31 11162583 core:CurrentFinancialInstruments 2024-12-31 11162583 core:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 11162583 core:LeaseholdImprovements core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 11162583 core:PlantMachinery 2025-01-01 2025-12-31 11162583 core:FurnitureFittings 2025-01-01 2025-12-31 11162583 core:UKTax 2025-01-01 2025-12-31 11162583 core:UKTax 2024-01-01 2024-12-31 11162583 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 11162583 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 11162583 2024-12-31 11162583 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 11162583 core:LeaseholdImprovements 2024-12-31 11162583 core:PlantMachinery 2024-12-31 11162583 core:FurnitureFittings 2024-12-31 11162583 core:LeaseholdImprovements 2025-01-01 2025-12-31 11162583 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 11162583 bus:OrdinaryShareClass1 2025-12-31 11162583 bus:OrdinaryShareClass1 2024-12-31 11162583 core:WithinOneYear 2024-12-31 11162583 core:BetweenTwoFiveYears 2024-12-31 11162583 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 11162583 bus:FRS102 2025-01-01 2025-12-31 11162583 bus:Audited 2025-01-01 2025-12-31 11162583 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP