IRIS Accounts Production v26.1.10.61 06329180 Board of Directors 1.1.25 31.12.25 31.12.25 sale of components for telecoms networks. true false true true false false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 06329180 2024-12-31 06329180 2025-12-31 06329180 2025-01-01 2025-12-31 06329180 2023-12-31 06329180 2024-01-01 2024-12-31 06329180 2024-12-31 06329180 ns15:EnglandWales 2025-01-01 2025-12-31 06329180 ns14:PoundSterling 2025-01-01 2025-12-31 06329180 ns10:Director1 2025-01-01 2025-12-31 06329180 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 06329180 ns10:FRS102 2025-01-01 2025-12-31 06329180 ns10:Audited 2025-01-01 2025-12-31 06329180 ns10:LargeCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 06329180 ns10:LargeCompaniesRegimeForAccounts 2025-01-01 2025-12-31 06329180 ns10:FullAccounts 2025-01-01 2025-12-31 06329180 1 2025-01-01 2025-12-31 06329180 ns10:OrdinaryShareClass1 2025-01-01 2025-12-31 06329180 ns10:Director3 2025-01-01 2025-12-31 06329180 ns10:Director4 2025-01-01 2025-12-31 06329180 ns10:RegisteredOffice 2025-01-01 2025-12-31 06329180 ns10:Director2 2025-01-01 2025-12-31 06329180 1 2025-01-01 2025-12-31 06329180 1 2024-01-01 2024-12-31 06329180 ns5:CurrentFinancialInstruments 2025-12-31 06329180 ns5:CurrentFinancialInstruments 2024-12-31 06329180 ns5:ShareCapital 2025-12-31 06329180 ns5:ShareCapital 2024-12-31 06329180 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-12-31 06329180 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 06329180 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 06329180 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 06329180 ns5:ShareCapital 2023-12-31 06329180 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 06329180 ns5:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 06329180 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 06329180 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-01-01 2024-12-31 06329180 ns5:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 06329180 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-01-01 2025-12-31 06329180 ns5:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 06329180 ns5:ComputerSoftware 2025-01-01 2025-12-31 06329180 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-01-01 2025-12-31 06329180 ns5:PlantMachinery 2025-01-01 2025-12-31 06329180 ns5:FurnitureFittings 2025-01-01 2025-12-31 06329180 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2025-01-01 2025-12-31 06329180 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-01-01 2024-12-31 06329180 ns5:OwnedAssets 2025-01-01 2025-12-31 06329180 ns5:OwnedAssets 2024-01-01 2024-12-31 06329180 ns5:ComputerSoftware 2024-01-01 2024-12-31 06329180 11 2025-01-01 2025-12-31 06329180 11 2024-01-01 2024-12-31 06329180 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 06329180 ns5:ComputerSoftware 2024-12-31 06329180 ns5:ComputerSoftware 2025-12-31 06329180 ns5:ComputerSoftware 2024-12-31 06329180 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-12-31 06329180 ns5:PlantMachinery 2024-12-31 06329180 ns5:FurnitureFittings 2024-12-31 06329180 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-12-31 06329180 ns5:PlantMachinery 2025-12-31 06329180 ns5:FurnitureFittings 2025-12-31 06329180 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-12-31 06329180 ns5:PlantMachinery 2024-12-31 06329180 ns5:FurnitureFittings 2024-12-31 06329180 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 06329180 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 06329180 ns5:BetweenOneFiveYears 2025-12-31 06329180 ns5:BetweenOneFiveYears 2024-12-31 06329180 ns5:MoreThanFiveYears 2025-12-31 06329180 ns5:MoreThanFiveYears 2024-12-31 06329180 ns5:AllPeriods 2025-12-31 06329180 ns5:AllPeriods 2024-12-31 06329180 ns5:DeferredTaxation 2024-12-31 06329180 ns5:DeferredTaxation 2025-01-01 2025-12-31 06329180 ns5:DeferredTaxation 2025-12-31 06329180 ns10:OrdinaryShareClass1 2025-12-31 06329180 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 06329180 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 06329180 ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-01-01 2025-12-31 06329180 ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-01-01 2024-12-31 06329180 ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-12-31 06329180 ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-12-31 06329180 ns5:OtherRelatedParties 2025-01-01 2025-12-31 06329180 ns5:OtherRelatedParties 2024-01-01 2024-12-31 06329180 ns5:OtherRelatedParties 2025-12-31 06329180 ns5:OtherRelatedParties 2024-12-31

REGISTERED NUMBER: 06329180 (England and Wales)

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31ST DECEMBER 2025 |

| FOR |

| HEXATRONIC UK LTD |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Statement of Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 14 |

HEXATRONIC UK LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST DECEMBER 2025

| DIRECTORS: | M Angermund

| K R Stone

| Ms L Lundstedt

| REGISTERED OFFICE: | Unit B

| Quay West Business Centre

| Quay Lane

| Gosport

| Hampshire

| PO12 4LJ

| REGISTERED NUMBER: | 06329180 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Kerry Lawrance FCA

| AUDITORS: | Compass Accountants Limited

| Chartered Accountants and Statutory Auditors

| Venture House

| The Tanneries

| East Street

| Titchfield

| Hampshire

| PO14 4AR

| BANKERS: | Danske Bank

| 75 King William St.

| London

| EC4N 7DT

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

STRATEGIC REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2025

The directors present their strategic report for the year ended 31st December 2025.

REVIEW OF BUSINESS

The directors believe that the financial statements present a fair and accurate summary of the company's position and provides the necessary information to assess the company's performance and profitability.

Hexatronic UK's primary focus is on the FTTH market in the UK, which is stable. Substantial investment from private and Government institutions has been seen in previous years. However, this investment is expected to slow in 2026 due to borrowing costs, with network operators shifting to an operational model as the build stabilizes.

Forecasts predict a slowdown in FTTH network build as the Network reaches maturity, with 70% of UK homes accessing full fibre connections. Rural areas remain challenging and costly for deployment. Government financial incentives such as BDUK support infrastructure investment. Network operators plan extensions until 2030.

Looking forward into 2026, we will focus on growing our data centre and core network customer areas.

This year, we aimed for maintaining sales by leveraging our strong relationships with key customers and concentrating our efforts on attracting new business from various product areas. The number of new customers entering the market declined and existing network operators began to consolidate. Larger network operators continued to focus on their build and adding customer connections. Turnover in 2025 was £44.1m, a 4% decrease compared to £45.6m in 2024.

With the slight reduction in sales we have reduced our permanent employee numbers to 89 at the end of the year (2024: 98).

PRINCIPAL RISKS AND UNCERTAINTIES

The ongoing conflict in the Middle East continues to have a negative impact on supply of some raw materials and we have seen significant cost increase on both Fibre and polymers. This will be an ongoing cost risk for some of our products with increased raw material costs and restricted availability on the fibre due to consumption in the Ukranian conflict and in AI/Hyperscaler Data Centres.

There remains uncertainty surrounding Global Finance, primarily around the increased costs of borrowing, investors are now more controlled in their funding of infrastructure projects.

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

STRATEGIC REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2025

SECTION 172(1) STATEMENT

Section 172 of the companies act 2006 requires a director of a company to act in the way he or she considers, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In doing this section 172 requires directors to have regard to, among other matters, the:

- Likely consequences of any decisions in the long term;

- Interests of the company's employees;

- Need to foster the company's business relationships with suppliers, customers, and others;

- Impact of the company's operations on the community and environment;

- Desirability of the company maintaining a reputation for high standards of business conduct; and

- Need to act fairly as between members of the company.

In discharging our section 172 duties we have regard to the matters set out above. In addition we also have regard to other factors which we consider relevant to the decision being made. Those factors for example include our relationship with our other group companies, the group shareholders, our quality and environmental policy certification boards and our health and safety obligations.

By considering the company's purpose, vision and values together with its strategic priorities and having a process in place for decision making, we aim to make sure that our decisions are consistent and predictable.

We delegate authority for day to day management of the company to the senior directors and then engage management in setting, approving and overseeing the execution of the business strategy and related policies. Board meetings and senior management meetings are held periodically where the directors consider the company's activities and make decisions. As part of those meetings the directors receive information in a range of different formats to ensure that they have regard to section 172 matters when making relevant decisions.

The company's key stakeholders are its workforce, customers, suppliers, the Hexatronic Group and the Hexatronic Group shareholders. The views of and the impact of the company's activities on those stakeholders are an important consideration for the directors when making relevant decisions. The size and spread of both the Company's stakeholders and the Hexatronic Group means that generally our stakeholder engagement takes place at an operational and group level. We find that as well as being a more efficient and effective approach, this also helps us achieve a greater positive impact on environmental, social and other issues than by working alone as an individual company.

For examples of this please refer to the Hexatronic Group reports:

https://www.hexatronic.com/en/investors/corporate-governance-report

and

https://www.hexatronic.com/en/sustainability

DEVELOPMENT AND PERFORMANCE

At the end of this financial year, the directors are confident that the business will continue to support the market with the current product portfolio, however the level of market activity could decline due to the reduced investments in FTTH. The focus in 2026 will be the continuation of cost reduction & operational efficiency as well as expanding into other markets

Our technical and sales teams will persist in collaborating closely with our customers to develop and maintain essential products that align with market demands and changes. Given the potential slowdown in FTTH network construction, the product focus may shift from cables and ducts to customer connection products, as network operators seek to optimize their revenue from existing networks. In addition to FTTH, we continue to focus on the increasing demand in Data Centre and core fibre networks.

KEY PERFORMANCE INDICATORS

The directors regularly review the performance of the company and have chosen several KPIs to compare this year's results against 2024:

1) Turnover: 44.1m (2024 - 45.6m)

2) Permanent Employees: 89 (2024 - 98)

3) Gross Margin: 21.20% (2024 - 18.83%)

ON BEHALF OF THE BOARD:

K R Stone - Director

12th August 2026

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST DECEMBER 2025

The directors present their report with the financial statements of the company for the year ended 31st December 2025.

DIVIDENDS

An interim dividend of 1500 per share was paid on 20th May 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31st December 2025 will be £ 3,000,000 .

FUTURE DEVELOPMENTS

In 2025, we extended our supply agreement with key UK Network operators, creating new income opportunities. This product supply will focus on customer connections.

We are streamlining our operations to address future market demands.

The Hexatronic UK organisation has been updated to pursue operational improvements for 2026 and future years.

DIRECTORS

M Angermund has held office during the whole of the period from 1st January 2025 to the date of this report.

Other changes in directors holding office are as follows:

H O L Lyon - resigned 8th April 2025

K R Stone - appointed 8th April 2025

Ms L Lundstedt - appointed 8th April 2025

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

We engage with suppliers, customers, and trade/quality bodies through face-to-face meetings at customer premises or our UK sites. We also participate in industry events locally and globally for better engagement.

When face to face meetings are not possible, we reach out through social media and have many meetings via Microsoft teams.

STREAMLINED ENERGY AND CARBON REPORTING

UK annual quantity of emissions in tonnes of CO2 equivalent resulting from activities for which the company is responsible involving consumption of fuel for the purposes of transport - 10 tonnes of CO2

Annual quantity of emissions in tonnes of CO2 equivalent resulting from the purchase of electricity for its own use, including for the purposes of transport - 190,000 KWh

The information above has been taken from the company's energy providers covering the 2 UK sites in Gosport and Aylesbury.

One ratio which expresses the company's annual emissions in relation to a quantifiable factor associated with the company's activities is as follows:

Energy Intensity, MWh/MGBP sales 4.30

The company is always looking at ways of increasing its energy efficiency and have reduced the electric consumption in all UK sites by installing PIR sensor lighting systems and LED lighting. We will also be increasing the proportion of travel free meetings by using a more digital approach.

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST DECEMBER 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- | 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Compass Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

K R Stone - Director

12th August 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

HEXATRONIC UK LTD

Opinion

We have audited the financial statements of Hexatronic UK Ltd (the 'company') for the year ended 31st December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31st December 2025 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.

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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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 identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

HEXATRONIC UK LTD

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 company and the sector in which it operates through discussions with management, sector research, and the application of relevant audit knowledge and experience

- We made enquiries of management around actual and potential litigation and claims

- We made enquiries of management and relevant staff, and designed our audit procedures, including reviewing financial statement disclosures and testing of supporting documentation, to assess compliance with applicable laws and regulations. We focussed on laws and regulations which could give rise to material misstatement in the financial statements including, but not limited to, the Companies Act 2006 and the Financial Reporting Standard 102

- We identified the risk of material misstatement of the financial statements due to fraud and designed audit procedures to respond to the risk. We performed audit procedures designed to address the risk of fraud arising from management override of controls, including, but not limited to, testing of journal entries and other adjustments, reviewing accounting estimates for evidence of bias, 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 accounts 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 accounts, 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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

HEXATRONIC UK LTD

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 a Report of the Auditors 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.

Kerry Lawrance FCA (Senior Statutory Auditor)

for and on behalf of Compass Accountants Limited

Chartered Accountants and Statutory Auditors

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

18th August 2026

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31ST DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

REVENUE | 44,102,514 |  | 45,540,337 |  |

Cost of sales | 34,754,454 |  | 36,966,978 |  |

GROSS PROFIT | 9,348,060 |  | 8,573,359 |  |

Administrative expenses | 7,882,851 |  | 8,527,866 |  |

OPERATING PROFIT | 4 | 1,465,209 |  | 45,493 |  |

Interest receivable and similar income | 173,647 |  | 235,593 |  |

PROFIT BEFORE TAXATION | 1,638,856 |  | 281,086 |  |

Tax on profit | 5 | 304,896 |  | 11,629 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,333,960 |  | 269,457 |  |

OTHER COMPREHENSIVE INCOME |

Share option reserve | - |  | 62,453 |  |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | - |  | 62,453 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,333,960 |  | 331,910 |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

BALANCE SHEET

31ST DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 7 | 249,522 |  | 339,463 |  |

Property, plant and equipment | 8 | 1,268,801 |  | 1,451,989 |  |

1,518,323 |  | 1,791,452 |  |

CURRENT ASSETS

Inventories | 9 | 11,789,887 |  | 14,828,204 |  |

Debtors | 10 | 14,786,884 |  | 14,823,483 |  |

26,576,771 |  | 29,651,687 |  |

CREDITORS

Amounts falling due within one year | 11 | 6,944,867 |  | 8,560,969 |  |

NET CURRENT ASSETS | 19,631,904 |  | 21,090,718 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 21,150,227 |  | 22,882,170 |  |

PROVISIONS FOR LIABILITIES | 13 | 369,615 |  | 435,518 |  |

NET ASSETS | 20,780,612 |  | 22,446,652 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 2,000 |  | 2,000 |  |

Other reserves | 15 | 162,597 |  | 162,597 |  |

Retained earnings | 15 | 20,616,015 |  | 22,282,055 |  |

SHAREHOLDERS' FUNDS | 20,780,612 |  | 22,446,652 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 12th August 2026 and were signed on its behalf by:

K R Stone - Director

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31ST DECEMBER 2025

| Called up |

| share |  | Retained |  | Other |  | Total

| capital |  | earnings |  | reserves |  | equity

£ | £ | £ | £ |

Balance at 1st January 2024 | 2,000 |  | 22,012,598 |  | 100,144 |  | 22,114,742 |  |

Changes in equity

Total comprehensive income | - |  | 269,457 |  | 62,453 |  | 331,910 |  |

Balance at 31st December 2024 | 2,000 |  | 22,282,055 |  | 162,597 |  | 22,446,652 |  |

Changes in equity

Dividends | - |  | (3,000,000 | ) | - |  | (3,000,000 | ) |

Total comprehensive income | - |  | 1,333,960 |  | - |  | 1,333,960 |  |

Balance at 31st December 2025 | 2,000 |  | 20,616,015 |  | 162,597 |  | 20,780,612 |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,947,686 |  | 364,278 |  |

Tax paid | (23,423 | ) | (36,037 | ) |

Net cash from operating activities | 2,924,263 |  | 328,241 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (30,719 | ) | (355,046 | ) |

Purchase of tangible fixed assets | (67,191 | ) | (251,588 | ) |

Sale of tangible fixed assets | - |  | 42,800 |  |

Interest received | 173,647 |  | 235,593 |  |

Net cash from investing activities | 75,737 |  | (328,241 | ) |

Cash flows from financing activities

Equity dividends paid | (3,000,000 | ) | - |  |

Net cash from financing activities | (3,000,000 | ) | - |  |

Increase in cash and cash equivalents | - |  | - |  |

Cash and cash equivalents at beginning of year | - |  | - |  |

Cash and cash equivalents at end of year | - |  | - |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST DECEMBER 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 1,638,856 |  | 281,086 |  |

| Depreciation charges | 366,451 |  | 272,771 |  |

| Loss on disposal of fixed assets | 4,591 |  | 30,569 |  |

| Share option reserve | - |  | 62,453 |  |

| Finance income | (173,647 | ) | (235,593 | ) |

1,836,251 |  | 411,286 |  |

| Decrease in inventories | 3,038,317 |  | 2,262,530 |  |

| Increase in trade and other debtors | (89,875 | ) | (5,336,304 | ) |

| (Decrease)/increase in trade and other creditors | (1,837,007 | ) | 3,026,766 |  |

| Cash generated from operations | 2,947,686 |  | 364,278 |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

1. | STATUTORY INFORMATION

| Hexatronic UK Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Computer software is being amortised evenly over its estimated useful life of nil years.

| Tangible fixed assets

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

| Short leasehold | - | 10% on cost

| Plant and machinery | - | 10% on cost

| Fixtures and fittings | - | 10% on cost

| Stocks

| Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost, being standard cost, and including all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Operating leases

| Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

| 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.

| Basic 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 the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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.

| The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

| Termination benefits

| The company recognises a liability for termination benefits at the point where the company is committed to making the payments in return for employee redundancy. During the year 12 redundancies were identified (2024: 14) and contractual/redundancy costs of £53,254 (2024: £5,349) were paid in the year with £Nil (2024: £67,944) being accrued at 31st December 2025.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 3,401,174 |  | 4,121,678 |  |

| Social security costs | 427,833 |  | 456,832 |  |

| Other pension costs | 65,650 |  | 77,736 |  |

3,894,657 |  | 4,656,246 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Operations | 71 |  | 82 |  |

| Sales | 10 |  | 9 |  |

| Administration | 8 |  | 7 |  |

89 |  | 98 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 140,250 |  | - |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

4. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 79,033 |  | 100,249 |  |

| Depreciation - owned assets | 245,787 |  | 257,188 |  |

| Loss on disposal of fixed assets | 4,591 |  | 30,569 |  |

| Computer software amortisation | 120,660 |  | 15,583 |  |

| Auditors' remuneration | 15,925 |  | 16,100 |  |

| Auditors' remuneration for non audit work | 10,559 |  | 8,990 |  |

| Stock impairment loss movement | - |  | (1,644,036 | ) |

5. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 376,503 |  | - |  |

| Overprovision of corporation

| tax | (5,703 | ) | (55,496 | ) |

| Total current tax | 370,800 |  | (55,496 | ) |

| Deferred tax | (65,904 | ) | 67,125 |  |

| Tax on profit | 304,896 |  | 11,629 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 1,638,856 |  | 281,086 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 409,714 |  | 70,272 |  |

| Effects of:

| Capital allowances in excess of depreciation | - |  | (75,824 | ) |

| Depreciation in excess of capital allowances | 68,283 |  | - |  |

| Utilisation of tax losses | (900 | ) | - |  |

| Adjustments to tax charge in respect of previous periods | (5,704 | ) | (55,496 | ) |

| Deferred tax on accelerated capital allowances | (65,903 | ) | 67,125 |  |

| Losses carried forward | - |  | 5,552 |  |

| Utilisation of group relief | (100,594 | ) | - |  |

| Total tax charge | 304,896 |  | 11,629 |  |

| Tax effects relating to effects of other comprehensive income |

| There were no tax effects for the year ended 31st December 2025.

| 2024 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Share option reserve | 62,453 |  | - |  | 62,453 |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

6. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each

| Interim | 3,000,000 |  | - |  |

7. | INTANGIBLE FIXED ASSETS

| Computer

| software

£ |

| COST

| At 1st January 2025 | 355,046 |  |

| Additions | 30,719 |  |

| At 31st December 2025 | 385,765 |  |

| AMORTISATION

| At 1st January 2025 | 15,583 |  |

| Amortisation for year | 120,660 |  |

| At 31st December 2025 | 136,243 |  |

| NET BOOK VALUE

| At 31st December 2025 | 249,522 |  |

| At 31st December 2024 | 339,463 |  |

8. | PROPERTY, PLANT AND EQUIPMENT

| Fixtures |

| Short |  | Plant and |  | and |

| leasehold |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1st January 2025 | 80,061 |  | 1,373,185 |  | 873,506 |  | 2,326,752 |  |

| Additions | - |  | 61,557 |  | 5,634 |  | 67,191 |  |

| Disposals | (2,112 | ) | (16,754 | ) | (1,509 | ) | (20,375 | ) |

| At 31st December 2025 | 77,949 |  | 1,417,988 |  | 877,631 |  | 2,373,568 |  |

| DEPRECIATION

| At 1st January 2025 | 30,682 |  | 588,888 |  | 255,193 |  | 874,763 |  |

| Charge for year | 7,813 |  | 149,456 |  | 88,518 |  | 245,787 |  |

| Eliminated on disposal | (411 | ) | (14,497 | ) | (875 | ) | (15,783 | ) |

| At 31st December 2025 | 38,084 |  | 723,847 |  | 342,836 |  | 1,104,767 |  |

| NET BOOK VALUE

| At 31st December 2025 | 39,865 |  | 694,141 |  | 534,795 |  | 1,268,801 |  |

| At 31st December 2024 | 49,379 |  | 784,297 |  | 618,313 |  | 1,451,989 |  |

9. | INVENTORIES

2025 | 2024 |

£ | £ |

| Stocks | 11,736,455 |  | 14,764,114 |  |

| Work-in-progress | 53,432 |  | 64,090 |  |

11,789,887 |  | 14,828,204 |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 6,615,120 |  | 8,460,344 |  |

| Amounts owed by group undertakings | 7,436,371 |  | 5,863,785 |  |

| Other debtors | 45,950 |  | 45,950 |  |

| Tax | 22,812 |  | 149,286 |  |

| Prepayments | 666,631 |  | 304,118 |  |

14,786,884 |  | 14,823,483 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 3,134,662 |  | 3,901,508 |  |

| Tax | 220,905 |  | - |  |

| Social security and other taxes | 85,538 |  | - |  |

| VAT | 840,398 |  | 858,431 |  |

| Other creditors | 2,402,629 |  | 3,471,576 |  |

| Accrued expenses | 260,735 |  | 329,454 |  |

6,944,867 |  | 8,560,969 |  |

12. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Between one and five years | 4,200,290 |  | 403,850 |  |

| In more than five years | 2,089,667 |  | 5,065,067 |  |

6,289,957 |  | 5,468,917 |  |

| Total future minimum lease payments under non-cancellable leases are due as follows:

| £ |  |

| Property |  | 6,614,717 |  |

| Plant and machinery |  | 64,000 |  |

13. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 369,615 |  | 435,518 |  |

| Deferred |

| tax |

£ |

| Balance at 1st January 2025 | 435,518 |  |

| Utilised during year | (65,903 | ) |

| Balance at 31st December 2025 | 369,615 |  |

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 2,000 | Ordinary | £1 | 2,000 |  | 2,000 |  |

HEXATRONIC UK LTD (REGISTERED NUMBER: 06329180)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2025

15. | RESERVES

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1st January 2025 | 22,282,055 |  | 162,597 |  | 22,444,652 |  |

| Profit for the year | 1,333,960 |  | 1,333,960 |  |

| Dividends | (3,000,000 | ) | (3,000,000 | ) |

| At 31st December 2025 | 20,616,015 |  | 162,597 |  | 20,778,612 |  |

16. | RELATED PARTY DISCLOSURES

| Entities with control, joint control or significant influence over the entity

2025 | 2024 |

£ | £ |

| Purchases | 1,244,429 |  | 1,421,036 |  |

| Amount due from related party | 7,453,652 |  | 5,863,785 |  |

| Other related parties

2025 | 2024 |

£ | £ |

| Sales | 2,398,968 |  | 3,965,386 |  |

| Purchases | 15,665,025 |  | 16,908,847 |  |

| Amount due from related party | 208,344 |  | 456,227 |  |

| Amount due to related party | 2,067,582 |  | 1,217,941 |  |

| During the year, a total of key management personnel compensation of £ 622,671 (2024 - £ 835,922 ) was paid.

17. | ULTIMATE CONTROLLING PARTY

| The immediate parent company of Hexatronic UK Limited is Hexatronic Group AB (publ), a company incorporated in Sweden. Registered address: Sofierogatan 3A, SE-412 51 Göteborg.

| The financial statements of Hexatronic Group AB (publ) are available from www.hexatronicgroup.com/en /investor-relations/financial-reports/.