The notes on pages 2 to 9 form part of these financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

IDE Rental Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Swaffield Park, Hyssop Close, Cannock, WS11 7FU.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; 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 results of the company are included in the consolidated financial statements of Sdiptech AB (publ), which are available from https://www.sdiptech.se/investor-relations/reports-and-presentations.

The directors have considered the company's financial position, forecast trading performance and cash flow requirements for a period of at least twelve months from the date of approval of these financial statements.true

Having reviewed these forecasts and the expected cash generation of the business, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

Revenue represents amounts receivable from the rental and sale of electrical equipment, net of VAT and trade discounts.

Revenue from equipment rental contracts is recognised over time as the Company satisfies its performance obligation of providing customers with the right to use the equipment during the rental period.

Revenue from the sale of equipment is recognised at the point at which the significant risks and rewards of ownership pass to the customer. This principally arises where a customer elects to retain hired equipment or where equipment is not returned and the customer becomes liable for its replacement value.

Where payment terms constitute a financing transaction, revenue is measured at the present value of the consideration receivable and the financing element is recognised as interest income over the period of the financing arrangement.

Tangible fixed assets are initially measured at cost and subsequently measured at cost less accumulated depreciation and accumulated 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:

During the year, the company revised its estimates of the residual values and depreciation profiles of plant and equipment, as described in note 12.

Up to 31 December 2023, plant and equipment was depreciated on either a 15% reducing balance basis or a 25% straight-line basis, depending on the asset.

From 1 January 2024, depreciation is calculated by reference to updated residual values and is charged at a rate of 10% per annum on a straight-line basis over the remaining depreciable amount (being the asset’s carrying value less its estimated residual value). Where an asset’s carrying value at the date of change was lower than its estimated residual value, no further depreciation is recognised.

Residual values have been reassessed based on expected resale values for each asset type, with reference to historical resale data where available.

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.

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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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, 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.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, 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 payments 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. Amounts 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.

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.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax 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.

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.

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

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 leases asset are consumed.

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.

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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The company estimates the useful lives of its tangible fixed assets in order to determine the appropriate depreciation charge. Useful lives are reviewed periodically and are based on management’s assessment of the expected period over which the assets will generate economic benefits.

Changes in usage patterns, technological developments or maintenance programmes may result in revisions to useful lives, which could have a material impact on the amount of depreciation charged in future periods and on the carrying value of the assets.

The company applies estimates of residual value in calculating depreciation charges for tangible fixed assets. Residual values are reassessed periodically based on expected resale values for each asset type, having regard to market conditions and historical disposal proceeds where available.

Due to the nature of the assets and the variability of second-hand market conditions, actual proceeds on disposal may differ from these estimates. Changes in residual value assumptions could materially affect both depreciation charges and the carrying value of tangible fixed assets.

The company recognises a provision for doubtful debts based on an assessment of the recoverability of trade receivables. This involves judgement in evaluating the creditworthiness of customers, historical repayment patterns, and current and forward-looking economic conditions.

Where there is evidence that amounts will not be recovered in full, an appropriate provision is recognised. Changes in customer circumstances or economic conditions could result in material adjustments to the level of provision required.

Deferred tax is recognised in respect of timing differences between the recognition of income and expenses in the financial statements and for tax purposes. Measurement of deferred tax balances requires estimation of the timing of reversal of these differences and the level of future taxable profits. Management judgement in this area is informed by advice from external tax specialists where appropriate.

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

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

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

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

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

The company has taken advantage of the exemption under FRS 102 paragraph 33.1A not to disclose transactions with wholly owned members of the group.

Following the year-end, the company identified a suspected misappropriation of funds totalling £112,890 arising from unauthorised payments made by an employee. Of this amount, £51,228 related to periods up to 31 December 2024 and has therefore been recognised within the profit and loss account. The matter was investigated by management, the individual's employment ended, and appropriate legal action is being pursued.

The immediate parent company is IDE Systems (Holdings) Limited, a company registered in England and Wales. Its registered office is Unit 3 Swaffield Park, Hyssop Close, Cannock, England, WS11 7FU.

The ultimate parent company is Sdiptech AB (publ), which is registered in Sweden. The results of the company are included in the consolidated financial statements of Sdiptech AB (publ), which are available from https://www.sdiptech.se/investor-relations/reports-and-presentations.

There is no single ultimate controlling party.

During the year, the company reassessed the residual values and depreciation profiles of its rental fleet assets. The reassessment was based on updated information regarding expected resale values, historical disposal proceeds and the expected pattern of consumption of economic benefits from those assets.

As a result of this review, the company revised the estimated residual values and depreciation charges applied to certain items of plant and equipment. This change in accounting estimate has been applied prospectively in accordance with FRS 102.

The effect of the revision on the current financial year was as follows:

• Decrease in depreciation charge for the year: £599,639

• Increase in tangible fixed assets at 31 December 2024: £599,639

• Increase in profit before taxation for the year: £599,639

The effect of the change on future periods will be to reduce depreciation charges on the affected fleet assets over their remaining useful lives. However, the extent of this reduction will depend on future asset utilisation, disposal values and changes in the composition of the rental fleet. Accordingly, it is impracticable to estimate reliably the effect of the change on future periods.