Contents of the Financial Statements

for the Period Ended 30 November 2025

Directors' report period ended 30 November 2025

The directors present their report with the financial statements of the company for the period ended 30 November 2025

Directors

The directors shown below have held office during the whole of the period from
1 December 2024 to 30 November 2025

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
23 August 2026

And signed on behalf of the board by:
Name: A S Douglass
Status: Secretary

Profit And Loss Account

for the Period Ended 30 November 2025

Balance sheet

As at 30 November 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 30 November 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 November 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

  Turnover policy

  Revenue recognition Revenue is measured as the fair value of the consideration received or receivable for goods and services supplied to customers, after deducting sales discounts and value-added taxes, based on the consideration specified in the contract. Revenue is recognised at a point in time for standard revenue transactions when control of the goods provided is transferred to the customer according to the International Commercial Terms of each contract. Separate provision is made for returns and in the few instances where rebates are provided. Under IFRS 15 – Revenue from Contracts with Customers, each customer contract is assessed to identify the performance obligations and for certain service and maintenance contracts, revenue is recognised in relation to these performance obligations as the services are performed in line with the contractual terms. An assessment of the timing of revenue recognition is made for each performance obligation.

  Tangible fixed assets depreciation policy

  Tangible fixed assets and depreciation Tangible fixed assets are stated at historic purchase cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Depreciation is calculated so as to write down the cost of the tangible fixed assets, less estimated residual value, over their estimated economic lives on a straight line basis. Depreciation rates are as follows: Leasehold improvements 12.5%, or the remaining life of the lease Plant and machinery 10%-33% Assets in the course of construction are carried at cost, less any recognised impairment loss. Cost includes professional fees and, for qualifying assets, borrowing costs capitalised. Depreciation for these assets commences when the assets are ready for their intended use.

  Intangible fixed assets amortisation policy

  Intangible assets Software, know-how and design costs are classified as intangible assets and measured initially at purchase cost. Amortisation is charged on a straight line basis over their estimated useful lives, which are deemed to be 3 years. Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from the Company’s product development expenditure is recognised only if all of the following criteria are demonstrable: -The technical feasibility of completing the intangible asset so that it will be available for use or sale; -The intention to complete the intangible asset and use or sell it; -The ability to use the intangible asset or to sell it; -The way in which the intangible asset will generate probable future economic benefits; -The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and -The ability to measure reliably the expenditure attributable to the intangible asset during its development. Where no internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which it is incurred. All expenditure on the registration, renewal and maintenance of patents and trademarks is written off to the income statement as incurred.

  Other accounting policies

  Basis of accounting The financial statements have been prepared in accordance with Financial Reporting Standard (FRS) 101 - Reduced Disclosure Framework. The financial statements have been prepared on a going concern basis and under the historical cost convention, in accordance with the Companies Act 2006. The following exemptions from the requirements of International Financial Reporting Standards (IFRS) have been applied in the preparation of these financial statements, in accordance with FRS 101 - Reduced Disclosure Framework: -the requirement within paragraphs 6 and 21 to present an opening statement of financial position at the date of transition. -paragraphs 45(b) and 46 to 52 of IFRS 2 - Share-based payment (details of the number and weighted-average exercise prices of share options and how the fair value of goods or services received was determined); -paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n) (ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 - Business Combinations; -paragraph 33(c) of IFRS 5 - Non-current Assets Held for Sale and Discontinued Operations; -IFRS 7 - Financial Instruments: Disclosures; -paragraph 38 of IAS 1 - Presentation of Financial Statements to present comparative information in respect of: -paragraph 79(a)(iv) of IAS 1 - Presentation of Financial Statements; -paragraph 73(e) of IAS 16 - Property, Plant and Equipment; -paragraph 118(e) of IAS 38 - Intangible Assets (reconciliations between the carrying amount at the beginning and end of the period); -paragraphs 10(d) (statement of cash flows), 10(f) (statement of financial position as at the beginning of the preceding period when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements), 16 (statement of compliance with all IFRSs), 38A (requirement for minimum of two primary statements, including cash flow statements), 38B-D (additional comparative information), 40A-D (requirements for a third statement of financial position), 111 (cash flow statement information) and 134 to 136 (capital management disclosures) of IAS 1 - Presentation of Financial Statements; -IAS 7 - Statement of Cash Flows; -paragraphs 30 and 31 of IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors (requirement for the disclosure of information when an entity has not applied a new IFRS that has been issued but is not yet effective); -paragraph 17 of IAS 24 - Related Party Disclosures (key management compensation); -IAS 24 - Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member; and -paragraphs 130(f)(ii), 130(f)(iii), 134(d) to 134(f) and 135(c) to 135 (e) of IAS 36 - Impairment of Assets (disclosures when the recoverable amount is fair value less costs of disposal, assumptions involved in estimating recoverable amounts of cash generating units containing goodwill or intangible assets with indefinite useful lives and management’s approach to determining these amounts). Accounting judgements and key sources of estimation uncertainty The preparation of financial statements in conformity with FRS 101 - Reduced Disclosure Framework requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The Directors consider that there are no critical areas of judgement or complexity, or areas where assumptions and estimates are significant in the financial statements. No new standards, amendments or interpretations, effective for the first time for the financial year beginning on or after 1 December 2024 have had a material impact on the Company. Going concern The Directors have made appropriate enquiries and reviewed the current financial position, including all the information presented in its strategic review of the business and the forecast covering the twelve months from the date of this report (“the going concern assessment period”) and have considered foreseeable downsides, stress tests and scenarios. The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the going concern assessment period. The Company has the full financial support, including a letter of support, from its ultimate parent, Porvair plc, and the Directors are confident the Company’s group will continue to have sufficient resources to provide support if required. Further detail is contained in the viability statement and going concern disclosure included in the Strategic report of Porvair plc’s financial statements. The Company therefore continues to adopt the going concern basis in preparing its financial statements. Stocks Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Cost is calculated using the weighted average method. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. Where necessary, provision is made for obsolete, slow moving and defective stocks. Foreign currency translation The Company’s financial statements are presented in Pounds Sterling, which is the Company’s functional and presentation currency. Foreign currency monetary assets and liabilities are translated into Pounds Sterling at the rates of exchange prevailing at the balance sheet date. Transactions in foreign currencies are translated into Pounds Sterling at the rate of exchange prevailing at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement. Leases The Company recognises a right of use asset and a lease liability at the lease commencement date. The right of use asset is initially measured at cost, being the initial amount of the lease liability adjusted for any lease payments made at or before commencement date. Lease liabilities are recorded at the present value of future lease payments. Leases are discounted at the Company’s incremental borrowing rate, being the rate that the Company would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Right of use assets are depreciated on a straight line basis over the lease term, or useful life if shorter. Interest is recognised on the lease liability, resulting in a higher finance cost in the earlier years of the lease term. Lease payments relating to low value assets or to short term leases are recognised as an expense on a straight line basis over the lease term. Short term leases are those with 12 months or less duration. Low value assets are those below a cost of £4,000. Pension contributions The Company operates a defined contribution scheme for its employees. The pension costs charged in the financial statements represent the contributions payable by the Company during the year. Taxation Current tax is based on taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that are relevant to the period. Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition (other than a business combination) of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. Deferred tax is calculated at the tax rates which have been enacted or substantively enacted by the balance sheet date and are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is recognised in the income statement, except when it relates to items recognised directly to other comprehensive income or directly to equity. In this case, the deferred tax is also recognised in other comprehensive income or directly in equity, respectively. Share based payments The ultimate parent company, Porvair plc, issues equity settled, share based payments to certain employees. In accordance with IFRS 2 - Share-based payment, the Company recognises an expense in respect of options granted by its parent company to Company employees. Equity settled, share based payments are measured at fair value at the date of grant. The fair value determined at the grant date of the equity settled, share based payments is expensed on a straight line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest. The charge is then credited back to reserves. At each balance sheet date, the Company revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original estimates, if any, in the income statement, with a corresponding adjustment to reserves. Fair value is measured by use of a Black-Scholes model. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions and behavioural considerations. Financial instruments Financial assets and financial liabilities are recognised in the Company’s balance sheet when the Company becomes a party to the contractual provisions of the instrument. a) Trade and other receivables Trade and other receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade receivables is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. b) Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less and bank overdrafts. c) Trade and other payables Trade and other payables are not interest bearing and are initially recognised at fair value and subsequently held at amortised cost.

Notes to the Financial Statements

for the Period Ended 30 November 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	29	30