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REGISTERED NUMBER: 02777816 (England and Wales)

Financial Statements for the Year Ended 31st December 2025

for

Nortech Management Limited

| Nortech Management Limited (Registered number: 02777816) |

Contents of the Financial Statements

for the Year Ended 31st December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Nortech Management Limited |

Company Information

for the Year Ended 31st December 2025

| DIRECTORS: | O Andersson

| J W Brown

| P J Lewington

| Dr S C E Jupe

| REGISTERED OFFICE: | 5A Stella House Building

| 2 Asparagus Way

| Vale Park

| Evesham

| Worcestershire

| WR11 1GN

| REGISTERED NUMBER: | 02777816 (England and Wales)

| AUDITORS: | Richards Sandy Audit Services Ltd

| Thorneloe House

| 25 Barbourne Road

| Worcester

| Worcestershire

| WR1 1RU

| Nortech Management Limited (Registered number: 02777816) |

Balance Sheet

31st December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 71,216 |  | 96,369 |  |

CURRENT ASSETS

Stocks | 1,233,626 |  | 1,108,772 |  |

Debtors | 5 | 1,452,229 |  | 1,002,936 |  |

Cash at bank | 3,203,511 |  | 4,891,762 |  |

5,889,366 |  | 7,003,470 |  |

CREDITORS

Amounts falling due within one year | 6 | 2,296,152 |  | 2,318,859 |  |

NET CURRENT ASSETS | 3,593,214 |  | 4,684,611 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,664,430 |  | 4,780,980 |  |

PROVISIONS FOR LIABILITIES | 57,075 |  | 23,945 |  |

NET ASSETS | 3,607,355 |  | 4,757,035 |  |

CAPITAL AND RESERVES

Called up share capital | 23,000 |  | 23,000 |  |

Share premium | 8,400 |  | 8,400 |  |

Retained earnings | 3,575,955 |  | 4,725,635 |  |

3,607,355 |  | 4,757,035 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th August 2026 and were signed on its behalf by:

Dr S C E Jupe - Director

| Nortech Management Limited (Registered number: 02777816) |

Notes to the Financial Statements

for the Year Ended 31st December 2025

1. | STATUTORY INFORMATION

| Nortech Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| BASIS OF PREPARING THE FINANCIAL STATEMENTS

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| TURNOVER

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the customer, which is usually on delivery.

| Turnover from development work is recognised as contractual milestones are achieved, to the extent that there is a right to consideration and the amount can be measured reliably.For software development sales, contracts are broken down into individual contractual project milestones and revenue for each individual project milestone is recognised on completion. It is not considered possible to reliably measure the percentage stage of completion of individual project milestones that are ongoing but not yet complete, nor is it considered possible to reliably measure of the relating staff and other costs associated with such ongoing individual project milestones be made, and as such no revenue for is recognised in regard to individual project milestones that are ongoing but not yet complete as at the balance sheet date.

| Turnover from maintenance, monitoring, detection and other service activities is recognised on a straight line basis over the period in which the services are provided, to the extent that there is a right to consideration, the amount of revenue can be measured reliably, it is probable that the related economic benefits will flow to the company, and the associated costs can be measured reliably.

| TANGIBLE FIXED ASSETS

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 25% on cost

| STOCKS

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is determined on the first-in, first-out (FIFO) basis. Cost includes the purchase price, transport and handling costs directly attributable to bringing the stock to its present location and condition, together with an appropriate proportion of production overheads included in the cost of developed stock.

| At each reporting date, inventories are assessed for impairment, and any excess of the carrying amount over the 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.

| 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 when the company becomes party to contractual provisions of the instrument.

| Financial assets are offset, with the net amounts presented in the accounts where 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.

| Nortech Management Limited (Registered number: 02777816) |

Notes to the Financial Statements - continued

for the Year Ended 31st December 2025

2. | ACCOUNTING POLICIES - continued

| Basic Financial Assets

| Basic financial assets, which include trade and other receivables 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. Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening od the deposit or similar account.

| Basic Financial Liabilities

| Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts 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 payables are recognised initially at transaction cost.

| TAXATION

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| DEFERRED TAX

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| OPERATING LEASED ASSETS

| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 36 (2024 - 34 ) .

| Nortech Management Limited (Registered number: 02777816) |

Notes to the Financial Statements - continued

for the Year Ended 31st December 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1st January 2025 | 562,136 |  | 14,270 |  | 576,406 |  |

| Additions | 34,191 |  | - |  | 34,191 |  |

| At 31st December 2025 | 596,327 |  | 14,270 |  | 610,597 |  |

| DEPRECIATION

| At 1st January 2025 | 465,767 |  | 14,270 |  | 480,037 |  |

| Charge for year | 59,344 |  | - |  | 59,344 |  |

| At 31st December 2025 | 525,111 |  | 14,270 |  | 539,381 |  |

| NET BOOK VALUE

| At 31st December 2025 | 71,216 |  | - |  | 71,216 |  |

| At 31st December 2024 | 96,369 |  | - |  | 96,369 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 915,781 |  | 858,924 |  |

| Amounts owed by group undertakings | 18,174 |  | - |  |

| Other debtors | 25,231 |  | - |  |

| Staff loans | - |  | 4,970 |  |

| Corporation tax | 191,295 |  | - |  |

| S455 tax debtor | 1,007 |  | 1,007 |  |

| Prepayments | 300,741 |  | 138,035 |  |

1,452,229 |  | 1,002,936 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 286,994 |  | 205,602 |  |

| Corporation tax | - |  | 602,919 |  |

| Social security and other taxes | 62,370 |  | 55,306 |  |

| Pension control account | 9,951 |  | 7,350 |  |

| VAT | 305,589 |  | 340,509 |  |

| Other creditors | 12,732 |  | 7,032 |  |

| Accruals and deferred income | 1,618,516 |  | 1,100,141 |  |

2,296,152 |  | 2,318,859 |  |

7. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 107,965 |  | 108,745 |  |

| Between one and five years | 57,035 |  | 138,763 |  |

165,000 |  | 247,508 |  |

| Please refer to note 9.

| Nortech Management Limited (Registered number: 02777816) |

Notes to the Financial Statements - continued

for the Year Ended 31st December 2025

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Aimee Stinton (Senior Statutory Auditor)

| for and on behalf of Richards Sandy Audit Services Ltd

9. | POST BALANCE SHEET EVENTS

| After the reporting date, the company terminated its existing lease for property and entered into a new lease arrangement that incorporates the original premises together with additional space. The termination and new lease agreement will affect future lease commitments but do not impact the financial position at the reporting date. Under the new lease the company is committed to paying rent of £116,424 p.a for seven years.

10. | ULTIMATE PARENT COMPANY

| The ultimate parent company is Vestum AB (publ), who is registered in Kungsgatan 26, 111 35, Stockholm, Sweden.