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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2025
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EXPOTECH HOLDINGS LIMITED
COMPANY INFORMATION
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EXPOTECH HOLDINGS LIMITED
CONTENTS
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EXPOTECH HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their group strategic report of the company and the group for the year ended 31 October 2025.
The group is a leading producer of Hazardous Area Protection products with a particular strength in Purge and Pressurisation solutions for our blue chip customers in the oil and gas sector. It also has a rapidly developing business in the food and pharmaceutical process control sector.
The directors are of the opinion that the strength and quality of the brand and global business infrastructure will allow continued improvement in profits subject to the overall economic environment. The directors consider that the key financial performance indicators are those that communicate the financial performance and strength of the group as a whole and relate to turnover and gross profit. For the 12 months to 31 October 2025, the group achieved a decreased turnover of £15,889,006 (2024: £16,043,032) at a gross margin percentage of 51.5% (2024: 53.7%). Group overheads reduced by 9.6% (2024: 9.1%) compared with the previous financial year. The resulting efficiencies supported increased investment in research and development, new IT systems, and the continued enhancement of the Group's product and service offering. While these investments contributed to a 7.1% reduction in net profit for the year ended 31 October 2025, they are expected to strengthen the Group's long-term growth prospects and competitiveness. At the year end, the total net assets of the group were £6,878,748 (2024: £6,646,739) and cash was £3,034,007 (2024: £3,148,502).
The principal risk facing the group is the effect of fluctuations in oil prices as evidenced by the closure of the Strait of Hormuz and the longer term move towards net zero on project developments in oil and gas exploration and production. A further risk is the impact of new US tariff impositions and their effect not only to our US trade but to global trading patterns. A final risk is the economic conditions in China and the impact of sanctions relating to Russian oil imports.
During the year the group continued to invest in new products and improvements to maintain its market leadership and to diversify its markets away from the oil and gas sector, to broaden its global distribution and to reinforce its position in the process control markets. The market response to these has been positive. Further work on upgrading products and processes is continuing.
This report was approved by the board and signed on its behalf.
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EXPOTECH HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their report and the financial statements of the company and the group for the year ended 31 October 2025.
The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements of the company and the group in accordance with applicable law and regulations.
In preparing these financial statements of the company and the group, the directors are required to:
∙select suitable accounting policies for the group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent; and
∙prepare the financial statements of the company and the group on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements of the company and the group comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £881,764 (2024: £949,465).
An interim dividend of £0.7743 per share was paid on 23 October 2025 (2024: £1.6453). The directors recommend that no final dividend be paid.
The total distribution of dividends for the year ended 31 October 2025 will be £400,000 (2024: £850,000).
The directors who served during the year were:
There are no significant changes to the business operations expected during 2026.
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EXPOTECH HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The group has chosen in accordance with section 414C(11) of the Companies Act 2006 (strategic report and directors' report) Regulations 2013 to set out in the group's strategic report information required by the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 Schedule 7 to be contained in the directors' report.
There have been no significant events affecting the group since the year end.
The auditor, Cooper Parry Group Limited, 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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EXPOTECH HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EXPOTECH HOLDINGS LIMITED
We have audited the financial statements of Expotech Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025, which comprise the consolidated statement of comprehensive income, the consolidated and company balance sheet, the consolidated and company statement of changes in equity, the consolidated statement of cash flows, the consolidated analysis of net funds and the related notes, including a summary of 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).
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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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 or 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.
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EXPOTECH HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EXPOTECH HOLDINGS LIMITED (CONTINUED)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the group 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 group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.
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EXPOTECH HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EXPOTECH HOLDINGS LIMITED (CONTINUED)
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 group 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.
We gained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, and considered the risk of acts by the parent company and group that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance. During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. Of particular importance, is the group's compliance with the regulations that govern their industry in the UK (UKSI 2016:1107), World Wide (IECEx Rules) and Europe (ATEX Directive 2014/34EU). Our audit work confirmed that the group has the appropriate certification in place. Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates, in particular in relation to stock valuation. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. 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 a 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 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.
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EXPOTECH HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EXPOTECH HOLDINGS LIMITED (CONTINUED)
This report is made solely to the group'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 group'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 group and the group's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Broadwalk House
5th floor
5 Appold St
London
EC2A 2AG
Date:
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EXPOTECH HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
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EXPOTECH HOLDINGS LIMITED
REGISTERED NUMBER: 00979709
CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 16 to 33 form part of these financial statements.
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EXPOTECH HOLDINGS LIMITED
REGISTERED NUMBER: 00979709
COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 16 to 33 form part of these financial statements.
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