Company registration number 01029811 (England and Wales)
CRANE ELECTRONICS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
CRANE ELECTRONICS LIMITED
COMPANY INFORMATION
Directors
A J Duffin
M R J Mourant
P W Everitt
C M Walker
A Theinert
S Gynane
A P Breen
(Appointed 4 December 2024)
P D Jayne
(Appointed 29 August 2025)
D S Weeks
(Appointed 29 August 2025)
Secretary
M R J Mourant
Company number
01029811
Registered office
3 Watling Drive
Sketchley Meadows
Hinckley
Leicestershire
LE10 3EY
Auditor
Spencer Gardner Dickins (Audit Services) Limited
3 Coventry Innovation Village
Cheetah Road
Coventry
CV1 2TL
CRANE ELECTRONICS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of income and retained earnings
8
Balance sheet
9
Notes to the financial statements
10 - 24
CRANE ELECTRONICS LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the period ended 31 December 2025.

BUSINESS REVIEW

On 29 th August 2025 100% of the Shares in Crane Group Holdings Ltd were sold to Indutrade Uk Ltd.

Crane Electronics Ltd sales in the 13 months ended 31 December 2025 were lower than the previous year.

During the year Crane GmbH in Germany consolidated its operations providing Service and Calibration facilities in Europe with the focus firmly on increased sales activity.

The company is maintaining an extensive program of research and development ("R&D") and has invested further to build the strength of the Engineering and R&D functions. The directors consider that this strategy will put the company in a good position to take advantage of future opportunities in due course.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors are of the opinion that the company has adopted a thorough risk management process that involves the formal review of all the risks identified below. The board monitors and reviews risks on a regular basis, in order to mitigate each risk area.

Currency risk

The Group is exposed to translation and transaction foreign exchange risk. The Group seeks to manage this risk by entering forward exchange contracts, as appropriate, to mitigate the risk of exchange rate movements.

Interest rate risk

The Group's exposure to market risk for changes in interest rates relates primarily to the Group's bank arrangements. These contracts are entered into on commercial terms. In addition, the Group seeks to invest its cash resources risk free at the best interest rate available.

Credit risk

The Group trades only with recognised, creditworthy third parties. It is the Group's policy that all customers who wish to trade on credit terms are subject to vetting procedures. In addition, receivable balances are monitored on an on-​going basis with the result that the Group's exposure to bad debts is not significant.

Economic downturn

The success of the Group is reliant on consumer and industrial spending. An economic downturn, resulting in reduction of consumer spending power may have a direct impact on the income achieved by the Group. In response to this risk, senior management monitors the economic conditions.

People

The success of the company is largely dependent upon the recruitment and retention of our employees.

CRANE ELECTRONICS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 2 -

Going concern

The directors believe that it is appropriate to adopt the going concern basis of accounting in preparing the consolidated financial statements.

The directors have prepared monthly cash flow forecasts for the Group to 31 July 2027 and tested these for reasonably possible alternative scenarios.

Based on this, the Group will have sufficient liquidity to meet its liabilities as they fall due and the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

FINANCIAL KEY PERFORMANCE INDICATORS

The key financial performance indicators of the Group are gross margin and operating profit and are monitored on a monthly basis. The directors are satisfied with the levels achieved for the period ended 3 1 Decem ber 202 5:

202 5 202 4

£ £

Gross profit 2,944,895 3,429,944

Gross margin 55% 6 1%

Operating profit 373,327 774,699

Operating margin 7% 1 3.8%

On behalf of the board

A J Duffin
Director
13 July 2026
CRANE ELECTRONICS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 3 -

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

Principal activities

The principal activity of the company continued to be that of design and manufacture of a comprehensive range of torque and measurement equipment.

Results and dividends

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

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

A J Duffin
M R J Mourant
P W Everitt
C M Walker
A Theinert
S Gynane
A P Breen
(Appointed 4 December 2024)
P D Jayne
(Appointed 29 August 2025)
D S Weeks
(Appointed 29 August 2025)
Auditor

In accordance with the company's articles, a resolution proposing that Spencer Gardner Dickins (Audit Services) Limited be reappointed as auditor of the company will be put at a General Meeting.

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;

- 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.

CRANE ELECTRONICS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 4 -
Strategic report

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

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.

Medium-sized companies exemption

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

On behalf of the board
A J Duffin
Director
13 July 2026
CRANE ELECTRONICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CRANE ELECTRONICS LIMITED
- 5 -
Opinion

We have audited the financial statements of Crane Electronics Limited (the 'company') for the period 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

CRANE ELECTRONICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CRANE ELECTRONICS LIMITED (CONTINUED)
- 6 -
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 strategic report or 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.

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.

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.

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.

- Enquiry of management and those charged with governance around actual and potential litigation and claims.

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

CRANE ELECTRONICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CRANE ELECTRONICS LIMITED (CONTINUED)
- 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.

Demsey Slater FCCA
Senior Statutory Auditor
For and on behalf of Spencer Gardner Dickins (Audit Services) Limited
13 July 2026
Chartered Accountants
Statutory Auditor
3 Coventry Innovation Village
Cheetah Road
Coventry
CV1 2TL
CRANE ELECTRONICS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 8 -
Period
Year
ended
ended
31 December
30 November
2025
2024
Notes
£
£
Turnover
3
5,307,466
5,610,821
Cost of sales
(2,362,571)
(2,180,877)
Gross profit
2,944,895
3,429,944
Administrative expenses
(3,212,615)
(3,055,470)
Other operating income
641,047
400,225
Operating profit
4
373,327
774,699
Interest receivable and similar income
8
5,012
19,323
Interest payable and similar expenses
9
(19,520)
(23,822)
Profit before taxation
358,819
770,200
Tax on profit
10
224,332
(93,006)
Profit for the financial period
583,151
677,194
Retained earnings brought forward
3,746,388
3,069,194
Retained earnings carried forward
4,329,539
3,746,388

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CRANE ELECTRONICS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 9 -
31 December 2025
30 November 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
257,537
334,750
Investments
12
28,595
28,595
286,132
363,345
Current assets
Stocks
15
1,484,961
1,530,076
Debtors
16
4,804,063
5,198,312
Cash at bank and in hand
696,799
325,791
6,985,823
7,054,179
Creditors: amounts falling due within one year
17
(2,128,176)
(2,743,455)
Net current assets
4,857,647
4,310,724
Total assets less current liabilities
5,143,779
4,674,069
Creditors: amounts falling due after more than one year
18
(34,792)
(78,534)
Provisions for liabilities
Deferred tax liability
21
-
0
69,699
-
(69,699)
Net assets
5,108,987
4,525,836
Capital and reserves
Called up share capital
23
741,833
741,833
Share premium account
24
37,903
37,903
Other reserves
24
(288)
(288)
Profit and loss reserves
24
4,329,539
3,746,388
Total equity
5,108,987
4,525,836

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

The financial statements were approved by the board of directors and authorised for issue on 13 July 2026 and are signed on its behalf by:
A J Duffin
Director
Company registration number 01029811 (England and Wales)
CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 10 -
1
Accounting policies
Company information

Crane Electronics Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Watling Drive, Sketchley Meadows, Hinckley, Leicestershire, LE10 3EY.

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.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. 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 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow 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 33 ‘Related Party Disclosures’: Compensation for key management personnel.

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

At the reporting date, the company was 100% owned by Crane Group Limited. The ultimate parent company was Crane Group Holdings Limited. This company is the parent of the smallest group for which consolidated accounts are drawn up of which the company is a member which are available from 3 Watling Drive, Sketchley Meadows, Hinckley, Leicestershire, LE10 3EY.

1.2
Going concern

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

1.3
Reporting period

The company has changed its accounting reference date to 31 December. These financial statements cover the 13 month period ended 31 December 2025 and the comparative figures cover the year to 30 November 2024.

1.4
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.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 11 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.5
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.

1.6
Tangible fixed assets

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

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

Plant and equipment
2 - 5 years from date of purchase
Fixtures and fittings
5 - 15 years from date of purchase
Motor vehicles
3 - 4 years from date of purchase

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
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

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

1.9
Stocks

Stocks 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 stocks to their present location and condition.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -

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.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.12
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.

1.13
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.14
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.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
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.

The company operates an employee benefit trust (E BT) and has de facto control of the shares held by the trust and bears their benefits and risks. The company records assets and liabilities of the trust as its own. Consideration paid by the EBT scheme for shares of the company is deducted from equity. Finance costs and administrative expenses incurred by the company in relation to the EBT are recognised on an accruals basis.

1.16
Retirement benefits

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

1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 s asset are consumed.

1.18
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.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 15 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements, estimates and assumptions which have had the most significant effect on amounts recognised in the financial statements and which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Stock obsolescence provisions

At each balance sheet date the directors assess stock for obsolescence. Due to the size and nature of stock this is a key accounting estimate.

The provision is calculated based on an estimate of the remaining life of stock held at the balance sheet date.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 16 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of goods
4,565,947
4,933,426
Rendering of services
741,519
677,395
5,307,466
5,610,821
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
754,420
2,425,468
Europe
1,125,828
920,255
Rest of the World
3,427,218
2,265,098
5,307,466
5,610,821
2025
2024
£
£
Other revenue
Interest income
5,012
19,323
4
Operating profit
2025
2024
Operating profit for the period is stated after charging/(crediting):
£
£
Exchange gains
(92,492)
(4,417)
Depreciation of owned tangible fixed assets
91,602
72,270
Depreciation of tangible fixed assets held under finance leases
35,634
55,430
Loss on disposal of tangible fixed assets
14,280
-
Operating lease charges
162,077
144,825
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
17,750
15,785
Audit of the financial statements of the company's subsidiaries
6,175
5,690
23,925
21,475
For other services
Taxation compliance services
975
880
CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 17 -
6
Employees

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

2025
2024
Number
Number
Production
25
27
Administrative
37
38
Total
62
65

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,469,080
2,226,695
Social security costs
289,862
222,757
Pension costs
80,214
71,683
2,839,156
2,521,135
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
501,748
333,353
Company pension contributions to defined contribution schemes
30,318
25,538
532,066
358,891

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 6 (2024 - 4).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
84,143
94,129
Company pension contributions to defined contribution schemes
22,100
2,422
CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 18 -
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
5,012
19,323
9
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
19,520
23,822
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
102,140
Adjustments in respect of prior periods
(88,017)
-
0
Total current tax
(88,017)
102,140
Deferred tax
Origination and reversal of timing differences
(136,315)
(9,134)
Total tax (credit)/charge
(224,332)
93,006

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

2025
2024
£
£
Profit before taxation
358,819
770,200
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
89,705
192,550
Tax effect of expenses that are not deductible in determining taxable profit
7,821
1,470
Tax effect of utilisation of tax losses not previously recognised
-
0
(60,122)
Adjustments in respect of prior years
-
0
(9,134)
Group relief
-
0
(8,572)
Permanent capital allowances in excess of depreciation
-
0
19,671
Research and development tax credit
(4,560)
(39,179)
Tax relief on share options
(331,420)
-
0
Under/(over) provided in prior years
14,122
-
0
Other differences
-
0
(3,678)
Taxation (credit)/charge for the period
(224,332)
93,006
CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 19 -
11
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2024
1,192,078
135,611
12,000
1,339,689
Additions
106,784
17,519
-
0
124,303
Disposals
(159,150)
-
0
-
0
(159,150)
At 31 December 2025
1,139,712
153,130
12,000
1,304,842
Depreciation and impairment
At 1 December 2024
911,427
81,512
12,000
1,004,939
Depreciation charged in the period
106,406
20,830
-
0
127,236
Eliminated in respect of disposals
(84,870)
-
0
-
0
(84,870)
At 31 December 2025
932,963
102,342
12,000
1,047,305
Carrying amount
At 31 December 2025
206,749
50,788
-
0
257,537
At 30 November 2024
280,651
54,099
-
0
334,750

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2025
2024
£
£
Plant and equipment
75,277
142,690
12
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
13
28,595
28,595
13
Subsidiaries

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

Name of undertaking
Address
Class of
% Held
shares held
Direct
Crane Electronics Inc
1
Ordinary
100.00
Crane Electronics GmbH
2
Ordinary
100.00

Registered office addresses :

1
1260 11th Street West, Milan, Illinois, 61264, USA
2
Im Rank 5, 73655 Pluderhausen, Germany
CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 20 -
14
Financial instruments
2025
2024
£
£
Carrying amount of financial liabilities
Measured at fair value through profit or loss
- Other financial liabilities
-
6,907
15
Stocks
2025
2024
£
£
Raw materials and consumables
1,104,026
1,194,394
Work in progress
282,649
255,498
Finished goods and goods for resale
98,286
80,184
1,484,961
1,530,076
16
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
507,153
580,912
Corporation tax recoverable
102,375
-
0
Amounts owed by group undertakings
3,943,539
4,515,029
Other debtors
42,217
5,000
Prepayments and accrued income
142,163
97,371
4,737,447
5,198,312
Deferred tax asset (note 21)
66,616
-
0
4,804,063
5,198,312

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 21 -
17
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
19
53,577
67,108
Obligations under finance leases
20
32,490
49,887
Trade creditors
307,093
379,001
Amounts owed to group undertakings
1,413,122
1,863,626
Corporation tax
-
0
88,017
Other taxation and social security
143,765
68,378
Derivative financial instruments
-
0
6,907
Other creditors
2,377
13,530
Accruals and deferred income
175,752
207,001
2,128,176
2,743,455

The bank loans outstanding at the year end are secured over the assets of the company.

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Obligations under finance leases are secured on the assets to which they relate.

18
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
20
34,792
78,534

Obligations under finance leases are secured on the assets to which they relate.

19
Loans and overdrafts
2025
2024
£
£
Bank loans
53,577
67,108
Payable within one year
53,577
67,108
20
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
32,490
49,887
In two to five years
34,792
78,534
67,282
128,421
CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 22 -
21
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Balances:
£
£
£
£
Accelerated capital allowances
-
80,144
(61,454)
-
Tax losses
-
-
118,416
-
Retirement benefit obligations
-
-
1,746
-
Other timing differences
-
(10,445)
7,908
-
-
69,699
66,616
-
2025
Movements in the period:
£
Liability at 1 December 2024
69,699
Credit to profit or loss
(136,315)
Asset at 31 December 2025
(66,616)
22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
80,214
71,683

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

23
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
741,833
741,833
741,833
741,833
CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 23 -
24
Reserves
Share premium

Share premium contains the excess paid for shares over the nominal value.

Profit & loss account

The profit and loss account contains all current and prior period retained profit and losses.

Other reserves

Other reserves represents shares that the Crane Trustee Limited Employee Benefit Trust holds in Crane Group Holdings Ltd.

25
Operating lease commitments
Lessee

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

2025
2024
£
£
Within one year
107,491
104,369
Between two and five years
319,835
311,069
In over five years
43,333
113,750
470,659
529,188
26
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
49,841
-
27
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption under the terms of FRS102 not to disclose related party transactions with wholly owned companies within the group.

28
Ultimate controlling party

The Company is a subsidiary undertaking of Crane Group Holdings Limited, a company incorporated in the UK, and is included in the consolidated financial statements of that company.

T he ultimate parent undertaking and controlling party is Indutrade AB, a company incorporated and domiciled in Sweden, which prepares consolidated financial statements for the largest group of undertakings of which the Company is a member, effective from 1 September 2025. These financial statements are available from its registered offic e: Raseborgsgaten 9, Box 6044, SE-164 06 Kista, Sweden.

CRANE ELECTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 24 -
29
Intermediary

The parent company of the group is a sponsoring entity for the intermediary Crane Trustee Limited Employee Benefit Trust. The assets and liabilities of the intermediary are presented within the results of the sponsoring entity and any transactions between both entities have been eliminated for the purpose of the financial statements.

The inclusion of the intermediary has resulted in the following adjustments to the group figures:

- £531 increase in debtors

- £819 increase in profit and loss reserves

- £28 8 decrease in other reserves

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