Registered number: 07275279
FOR THE YEAR ENDED 31 DECEMBER 2025
AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
COMPANY INFORMATION
AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
CONTENTS
AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present the Strategic Report for Aion Silicon Holdings Limited (formerly Sondrel (Holdings) Limited) and its subsidiaries ("the group") for the year ended 31 December 2025. During the year, the company changed its name from Sondrel (Holdings) Limited to Aion Silicon Holdings Limited with effect from 11 November 2025.
Aion Silicon is a UK founded and headquartered fabless semiconductor business providing turnkey services in the design and delivery of complex, high end 'application specific integrated circuits' ("ASICs") and 'system on chips' ("SoCs") for leading global technology brands. Aion Silicon’s capabilities are provided to customers seeking competitive advantage by including customised ASIC/SoC devices enabling differentiation of their end products when addressing fast growth technology megatrends.
Aion Silicon delivers complex ASIC/SoC designs on a consultancy and/or project basis for a wide range of leading multi-national corporate customers. The high-end complex ASICs/SoCs designed and supplied by Aion Silicon to its customers and Aion Silicon’s previous designs have been included in well-known products such as Apple iPhone, Sony PlayStation, Meta's Oculus Quest virtual reality headset, Samsung, Google and Sony smartphones, JVC prosumer camcorders and Tesla and Mercedes-Benz cars.
Aion Silicon has transitioned its business model to include providing a full turnkey ASIC design and supply service for its customers. This includes contracting for the manufacture, testing and production of ASICs as well as previously offered design and production consulting. Although the testing, packaging, and other capital- intensive engineering functions necessary for production of an ASIC will continue to be outsourced to third parties, Aion Silicon provides the product engineering and manages the complex manufacturing process by maintaining direct foundry partnerships with TSMC, Intel Foundry and GlobalFoundries.
Aion Silicon delivers complex ASIC/SoC designs on a consultancy and/or project basis for a wide range of leading multi-national corporate customers. The high-end complex ASICs/SoCs designed and supplied by Aion Silicon to its customers and Aion Silicon’s previous designs have been included in well-known products such as Apple iPhone, Sony PlayStation, Meta's Oculus Quest virtual reality headset, Samsung, Google and Sony smartphones, JVC prosumer camcorders and Tesla and Mercedes-Benz cars.
Aion Silicon has transitioned its business model to include providing a full turnkey ASIC design and supply service for its customers. This includes contracting for the manufacture, testing and production of ASICs as well as previously offered design and production consulting. Although the testing, packaging, and other capital- intensive engineering functions necessary for production of an ASIC will continue to be outsourced to third parties, Aion Silicon provides the product engineering and manages the complex manufacturing process by maintaining direct foundry partnerships with TSMC, Intel Foundry and GlobalFoundries.
Aion intends to continue strengthening its engineering capabilities and project delivery processes through the execution of the complex and advanced-node programmes currently underway, alongside targeted recruitment in key technical areas. These actions are expected to support the Company’s ability to deliver increasingly complex chip development programmes for global customers.
The company also expects to continue investing in the promotion of Aion’s capabilities in North America as an architecture-led, end-to-end ASIC partner for customers bringing new chips to market, while building on its established position in EMEA. Management believes the increasing importance of artificial intelligence applications and chip sovereignty initiatives will continue to support demand in these markets.
The company also expects to continue investing in the promotion of Aion’s capabilities in North America as an architecture-led, end-to-end ASIC partner for customers bringing new chips to market, while building on its established position in EMEA. Management believes the increasing importance of artificial intelligence applications and chip sovereignty initiatives will continue to support demand in these markets.
No changes in management were made in FY2025. In March 2026, Allen Sansano joined Aion Silicon as VP of Engineering. Allen joins from Meta, where he led advanced ASIC development accelerating Computer Vision and Image Signal Processing for next-generation Augmented Reality devices, while also pioneering AI-assisted semiconductor design methodologies. Prior to Meta, he served as Vice President of Engineering at Wave Computing, leading the MIPS Division across the full engineering stack — encompassing architecture, design, verification, physical design, DFT, systems, and software.
Revenue in 2025 was £12.0 million (2024: £8.0 million), with an operating profit of £9.3 million (2024: loss of £5.1 million). The group generated cash of £4.8 million (2024: £11.9 million). The group did not require any external financing through FY2025.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
In 2025, the company completed a comprehensive rebrand from Sondrel to Aion Silicon, fundamentally repositioning the business for the next phase of its growth journey. The new name modernises the brand identity while explicitly signalling the company's strategic focus on artificial intelligence as a core growth market, with "Aion" reflecting a forward-looking vision and "Silicon" anchoring the company in the semiconductor design industry. This rebrand addresses establishing stronger recognition and market presence in the United States, where limited brand awareness had previously been identified as a growth constraint. The new identity positions Aion Silicon as a more US-centric player, reinforced by the company's expanded footprint including operations in Silicon Valley, membership in the Intel Foundry Accelerator Design Services Alliance, and active participation in North American industry events.
During 2025, Aion Silicon strategically rationalised its operational footprint to optimise cost efficiency and strengthen alignment with key stakeholders and markets. Following the end of the lease on the Theale, UK office, the company relocated its headquarters to London, enhancing proximity to partners and the capital's deep technology talent pool. Concurrently, the company opened a new 15-engineer design centre in Barcelona, Spain, positioned to capitalise on the European Union's chip sovereignty movement and support a cornerstone European customer engaged in advanced 18A/N4 datacentre chip development. This strategic reconfiguration reduces property costs, provides a centralised location allowing stronger access to the wider-UK semiconductor talent pool and establishes a vital engineering presence in Southern Europe to serve the growing demand for secure, regionally-anchored semiconductor design capabilities aligned with EU strategic autonomy objectives.
The group faces various risks and uncertainties that have the potential to impact the group financially, operationally, strategically and reputationally. While it is not possible to identify or anticipate every risk, the principal risks and uncertainties faced by the group and the steps in place to mitigate these risks are described below. The Board has overall responsibility for risk management and internal controls.
Cyber security:
The group maintains a significant level of confidential customer data and relies on information technology systems to conduct its operations. Cyber-attacks can result from deliberate attacks or unintentional events and may include (but are not limited to) third parties gaining unauthorised access to the group's systems for the purpose of misappropriating intellectual property or confidential sensitive information, corrupting data, or causing operational disruption.
If the group suffers a cyber-attack, whether by a third party or insider, resulting in a breach of confidentiality or a data security breach, it may incur significant costs, suffer reputational damage and loss of customer or investor confidence.
The group employs strict security protocols and policies to mitigate against any potential security breaches, including regular auditing of the group's security environment and controls under its accredited ISO 27001 and ISO 9001 standards and has recently gained Cyber Essentials Plus certification.
Project delivery:
Each customer project is unique, involving specific custom deliverables that the company has not previously developed. Projects are typically quoted on a partial fixed price and partial budgetary price based on an assessment of the work and IP required to deliver it to the customer schedule. It is possible that management may misjudge their ability to deliver at the estimated cost. Failure to do so could damage the current financials and long-term reputation.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Principal risks and uncertainties (continued)
Project management is focussed on delivering to the customer schedule. By careful management of engineer utilisation the business ensures sufficient resources are available to deliver the project to schedule. A close collaboration with the customer and IP vendors permits a clear scope of work to be agreed which together with a robust change management process ensures project risks are managed appropriately. Furthermore, complex projects are typically separated into phases and prices for later phases are typically quoted as budgetary based on a number of assumptions. This allows the scope of the project to evolve and develop through the project and pricing to be adjusted accordingly thereby reducing commercial risk.
Attraction and retention of talent:
The group's ability to attract and retain key management and employees, including suitably qualified and experienced engineers, is critical to the group's continued development and innovation. Loss of key management or other key personnel, particularly to competitors, could have adverse consequences.
The group's ability to attract and retain key management and employees, including suitably qualified and experienced engineers, is critical to the group's continued development and innovation. Loss of key management or other key personnel, particularly to competitors, could have adverse consequences.
The group may not be successful in identifying and engaging suitably qualified people or inducting them into the group, which may impact the performance of its business. In addition, the ability to attract and incentivise such individuals in the locations where the group operates requires proportionate budgeting and therefore can affect the capabilities of the group. Aion Silicon creates a positive and exciting workplace environment, through challenging engineering projects, training, regular engagement and feedback, rewards and values.
The company ensures that rewards correspond with performance and retention.
Liquidity risk:
The group's ability to manage its cash and to meet its financial obligations as they fall due is essential to retaining key suppliers and employees. As a significant proportion of the group's cash receipts are dependent on achieving project milestones, cashflows may be disrupted if project delivery is delayed.
Liquidity risk:
The group's ability to manage its cash and to meet its financial obligations as they fall due is essential to retaining key suppliers and employees. As a significant proportion of the group's cash receipts are dependent on achieving project milestones, cashflows may be disrupted if project delivery is delayed.
The group monitors and manages its cash by preparing cashflow forecasts in its budgets and using sensitivity analyses.
Design Services contracts typically provide regular monthly payments, which provide cash receipts that are less likely to be disrupted. The company is deliberate in keeping a mix of Design Services and Turnkey projects to balance cash receipt risk.
Contract management:
Silicon chip projects are tailored to individual customer requirements and the specification of each chip design may change significantly during the design process. Poor contract management may lead to project overruns, additional costs which are not recovered and reputational damage.
Contract management:
Silicon chip projects are tailored to individual customer requirements and the specification of each chip design may change significantly during the design process. Poor contract management may lead to project overruns, additional costs which are not recovered and reputational damage.
The company operates a monthly Contract Monitoring review process to track, report and drive decisions to ensure robust commercial management of projects.
Project management collaborate closely with customers to communicate the impact of changes in specifications through a robust change management process to ensure customer expectations are met and project commercials are managed appropriately.
Innovation:
Silicon chip design is a rapidly developing field, in which we may struggle to compete if we fail to innovate. Aion Silicon has delivered designs at N3 (3 nanometres on TSMC), 2 nanometres (on Samsung) and 1.8 nanometres (18 angstrom on Intel Foundry) process nodes. This engineering capability enables Aion Silicon to benefit from megatrends driving the demand for system solutions with increasingly complex design geometries. Failure to stay at the cutting edge of the technology would neutralise its U.S.P.
Innovation:
Silicon chip design is a rapidly developing field, in which we may struggle to compete if we fail to innovate. Aion Silicon has delivered designs at N3 (3 nanometres on TSMC), 2 nanometres (on Samsung) and 1.8 nanometres (18 angstrom on Intel Foundry) process nodes. This engineering capability enables Aion Silicon to benefit from megatrends driving the demand for system solutions with increasingly complex design geometries. Failure to stay at the cutting edge of the technology would neutralise its U.S.P.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Principal risks and uncertainties (continued)
The group continually invests in its own IP development and has established and maintains relationships with key partners in the industry, which enable it to deliver compelling turnkey design and supply solutions.
Growth strategies and management:
The group's growth plans may place a significant strain on its management and operational, financial and personnel resources. Furthermore, the ability of the group to implement its strategy requires effective planning and management control systems. Therefore, the group's future growth and prospects may depend in part on its ability to manage this growth. There can be no guarantee that the group will achieve or effectively manage the level of success that the Board expect.
The group's growth plans may place a significant strain on its management and operational, financial and personnel resources. Furthermore, the ability of the group to implement its strategy requires effective planning and management control systems. Therefore, the group's future growth and prospects may depend in part on its ability to manage this growth. There can be no guarantee that the group will achieve or effectively manage the level of success that the Board expect.
The group's growth strategy is centred around growing in established markets and targeting sectors in which we have strong credibility.
There is clear communication of strategy and alignment throughout the organisation, with the Board responsible for delivering against defined strategic initiatives. The group's growth and expansion strategy is carefully budgeted and resourced for, with clear metrics for success.
Customer success is an integral part of the group's focus, with regular reviews of performance with the customer to ensure alignment with the customer's strategic imperatives in order to secure account retention.
Customer success is an integral part of the group's focus, with regular reviews of performance with the customer to ensure alignment with the customer's strategic imperatives in order to secure account retention.
Turnover for the year improved in 2025 driven by a new European client win.
Operating Profit shift was a function of better turnover, improved cost performance within the business, and the recognition of the release of the lease liability as other administrative income.
Additionally in Profit after tax there is a recognition of deferred tax for accumulated losses.
Employee numbers was lower at the end of 2025 after the implementation of the back to profits plan in 2025, that resulted in the reduction of headcount through the year.
This report was approved by the board and signed on its behalf.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The profit for the year, after taxation, amounted to £14,676,386 (2024: loss £5,642,046).
The directors who served during the year were:
Director appointed in 2026
L S Knox (appointed 10 February 2026)
L S Knox (appointed 10 February 2026)
The group has significant cash resources and a strong net asset position. Based on the current level of cash held by the group, even in the most extreme downside conditions considered reasonably possible, the group would continue to be able to meet its obligations as they fall due, without the need for substantive mitigating actions.
The directors are satisfied that the group remains well placed to manage its business risks successfully and therefore have a reasonable expectation that the group has adequate resources to continue in operational existence for a period of 12 months from the date of approval of the financial statements.
Accordingly, the financial statements continue to be prepared on a going concern basis.
The directors are satisfied that the group remains well placed to manage its business risks successfully and therefore have a reasonable expectation that the group has adequate resources to continue in operational existence for a period of 12 months from the date of approval of the financial statements.
Accordingly, the financial statements continue to be prepared on a going concern basis.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The group’s financial instruments are disclosed in note 24 to the consolidated financial statements.
Closure of Xi’an office in China
While the decision to close the group’s Xi’an office was taken during the year ended 31 December 2025, the orderly closure commenced after the reporting date and no substantive closure activities had occurred at year end. Actions taken after the reporting date include vacating the premises, terminating contracts, and initiating statutory tax deregistration. The closure is therefore treated as a non-adjusting post balance sheet event, and the directors do not expect it to have a material impact on the group’s financial position or results for the year ended 31 December 2025.
While the decision to close the group’s Xi’an office was taken during the year ended 31 December 2025, the orderly closure commenced after the reporting date and no substantive closure activities had occurred at year end. Actions taken after the reporting date include vacating the premises, terminating contracts, and initiating statutory tax deregistration. The closure is therefore treated as a non-adjusting post balance sheet event, and the directors do not expect it to have a material impact on the group’s financial position or results for the year ended 31 December 2025.
The auditor, Grant Thornton UK LLP, was appointed during the year and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
We are responsible for concluding 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 group's and the parent 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 report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED) (CONTINUED)
Conclusions relating to going concern (continued)
In our evaluation of the directors' conclusions, we considered the inherent risks associated with the group's and the parent company's business model including effects arising from macro-economic uncertainties such as the impact of cost inflation, global supply chain problems and geo-political uncertainty, we assessed and challenged the reasonableness of estimates made by the directors and the related disclosures and analysed how those risks might affect the group's and the parent company's financial resources or ability to continue operations over the going concern period.
In our evaluation of the directors' conclusions, we considered the inherent risks associated with the group's and the parent company's business model including effects arising from macro-economic uncertainties such as the impact of cost inflation, global supply chain problems and geo-political uncertainty, we assessed and challenged the reasonableness of estimates made by the directors and the related disclosures and analysed how those risks might affect the group's and the parent company's financial resources or ability to continue operations over the going concern period.
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 group's and the parent 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.
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 group's and the parent 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.
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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year 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.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED) (CONTINUED)
Matter on which we are required to report under the Companies Act 2006
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:
Responsibilities of directors
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED) (CONTINUED)
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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
∙We made enquiries of management and those charged with governance concerning the group’s policies and procedures relating to:
°The identification, evaluation and compliance with laws and regulations;
°The detection of and response to the risks of fraud; and
°The establishment of internal controls designed to mitigate risks related to fraud or non-compliance with laws and regulations.
∙As part of these enquiries, management confirmed whether they were aware of any known instances of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud affecting the group.
∙We corroborated the results of these enquiries through inspection of relevant supporting documentation.
∙We obtained an understanding of the legal and regulatory framework applicable to the group and determined that the laws and regulations most significant in the context of the audit and those relating to the applicable financial reporting framework, namely UK-adopted international accounting standards, Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ and the Companies Act 2006. Our understanding was obtained through discussion with group management, consideration of the group’s internal policies and procedures and reference to our professional knowledge and experience of the sector. Compliance with these laws and regulations was considered throughout the audit, particularly when performing procedures over relevant group financial statement balances, transactions and disclosures.
∙Relevant laws and regulations, together with identified fraud risks, were communicated to all members of the engagement team. The team remained alert throughout the audit to indications of fraud or non-compliance with laws and regulations.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED) (CONTINUED)
Auditor’s responsibilities for the audit of the financial statements (continued)
∙We assessed the susceptibility of the group’s financial statements to material misstatement, including how fraud might occur, by evaluating management’s incentives and opportunities for manipulation of the financial statements. This included an evaluation of the risk of management override of controls. Based on the assessment, we identified principal risks as relating to:
°The significant risk of fraud arising from revenue recognised on a percentage completion basis for open contract at year end where significant judgement is applied, and potentially unusual or non-standard revenue transactions identified through testing;
°Journal entries, with a focus on journals posted by senior personnel and journals posted by senior personnel and unusual postings to revenue or expenses, as well as large or unusual transactions based on our understanding of the group and the nature of activity within the ledger; and
°Potential management bias in determining accounting estimate, in particular those relating to revenue recognition. In response, we evaluated the key judgements and assumptions applied by management in these areas and considered whether the resulting accounting treatment and related disclosures were appropriate and consistent with the applicable financial reporting framework.
∙Our audit procedures involved:
°Evaluation of the design effectiveness of controls that management has in place to prevent and detect fraud;
°Identifying unusual or high-risk journals to investigate and verify;
°Challenging assumptions and judgements made by management in its significant accounting estimates; and
°Assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement line item.
∙In addition, we completed audit procedures to conclude on the compliance of disclosures in the annual report and accounts with applicable financial reporting requirements.
∙These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it;
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED) (CONTINUED)
Auditor’s responsibilities for the audit of the financial statements (continued)
∙The engagement partner’s assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s;
°Understanding of, and practical experience with, audit engagements of a similar nature and complexity, obtained through appropriate training and prior audit experience;
°Knowledge of the industry in which the group operates; and
°Understanding of the legal and regulatory requirements specific to the entity, including the applicable legislation.
∙We did not identify any matters relating to non-compliance with laws and regulations or fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's 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.
Senior Statutory Auditor
for and on behalf of Grant Thornton UK LLP
Statutory Auditor, Chartered Accountants
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
REGISTERED NUMBER: 07275279
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
REGISTERED NUMBER: 07275279
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements on pages 14 to 65 were approved and authorised for issue by the board on 23 June 2026 and were signed on its behalf by:
The notes on pages 23 to 65 form part of these financial statements.
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
REGISTERED NUMBER: 07275279
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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AION SILICON HOLDINGS LIMITED (FORMERLY SONDREL (HOLDINGS) LIMITED)
REGISTERED NUMBER: 07275279
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own profit and loss in these financial statements. The profit after tax of the parent company for the year was £22,048,696 (2024: loss £12,579,995 ).
The financial statements on pages 14 to 65 were approved and authorised for issue by the board on 23 June 2026 and were signed on its behalf by:
The notes on pages 23 to 65 form part of these financial statements.
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