REGISTERED NUMBER: 07170285 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

ARGON ELECTRONICS (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Pike

Mrs C A Pike

REGISTERED OFFICE:

16 Ribocon Way

Progress Business Park

Luton

Bedfordshire

LU4 9UR

REGISTERED NUMBER:

07170285 (England and Wales)

ACCOUNTANTS:

GKP (Ampthill) Limited

Chartered Accountants

3 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

FIXED ASSETS

Intangible assets

4

23,692

34,043

Tangible assets

5

26,444

32,299

50,136

66,342

CURRENT ASSETS

Stocks

1,365,162

1,092,294

Debtors

6

1,869,444

614,468

Cash at bank and in hand

7,338,123

7,727,449

10,572,729

9,434,211

CREDITORS

Amounts falling due within one year

7

(483,034

)

(851,348

)

NET CURRENT ASSETS

10,089,695

8,582,863

TOTAL ASSETS LESS CURRENT LIABILITIES

10,139,831

8,649,205

PROVISIONS FOR LIABILITIES

9

(12,027

)

(18,358

)

NET ASSETS

10,127,804

8,630,847

CAPITAL AND RESERVES

Called up share capital

10

30,000

30,000

Retained earnings

10,097,804

8,600,847

10,127,804

8,630,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2026 and were signed on its behalf by:

S D Pike - Director

1.	STATUTORY INFORMATION

Argon Electronics (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 (£). All amounts in the financial statements have been rounded to the nearest £1.

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.

Intangible assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditures is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Amortisation is recongnised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents and licences

20% straight line

Development costs

25% straight line

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

Computer equipment

-

25% on cost

Stocks

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of its stock, over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversal of impairment losses are recognised in profit or loss.

Taxation

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

Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible 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).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

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 is estimated to be less than its carrying amount, the carrying amount of the assset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant assets 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 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 prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation reserve.

Financial instruments

The company has elected to apply the provisions of section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to its 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

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according ti 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

Basic financial liabilities, including trade and other payables, bank loans are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments 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 business 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 price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Research and development expenditure

Research and development expenditure is expensed in the year it is incurred. Development expenditure that fulfills the criteria for capitalisation is capitalised and amortised.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and and 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 any employee or to provide termination benefits.

Foreign exchange

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 translates at the rates prevailing on the reporting end date. Gains and losses arising in translation are included in the profit and loss account for the period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2025 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2025

840,000

149,394

989,394

Additions

-

549

549

At 31 March 2026

840,000

149,943

989,943

AMORTISATION

At 1 April 2025

840,000

115,351

955,351

Charge for year

-

10,900

10,900

At 31 March 2026

840,000

126,251

966,251

NET BOOK VALUE

At 31 March 2026

-

23,692

23,692

At 31 March 2025

-

34,043

34,043

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2025

131,747

48,166

179,913

Additions

7,909

677

8,586

At 31 March 2026

139,656

48,843

188,499

DEPRECIATION

At 1 April 2025

112,318

35,296

147,614

Charge for year

9,609

4,832

14,441

At 31 March 2026

121,927

40,128

162,055

NET BOOK VALUE

At 31 March 2026

17,729

8,715

26,444

At 31 March 2025

19,429

12,870

32,299

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,679,157

485,844

Other debtors

75,903

83,348

VAT

114,384

45,276

1,869,444

614,468

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

102,656

87,349

Tax

214,492

633,373

Social security and other taxes

13,225

11,684

Other creditors

152,661

118,942

483,034

851,348

8.	LEASING AGREEMENTS

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

2026

2025

£

£

Within one year

45,885

45,885

Between one and five years

183,540

183,540

In more than five years

80,299

126,184

309,724

355,609

9.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

12,027

18,358

Deferred tax

£

Balance at 1 April 2025

18,358

Provided during year

(6,331

)

Balance at 31 March 2026

12,027

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

Value

£

£

15,300

A Ordinary shares

£1

15,300

15,300

5,700

B Ordinary shares

£1

5,700

5,700

3,000

C Ordinary shares

£1

3,000

3,000

3,000

D Ordinary shares

£1

3,000

3,000

3,000

E Ordinary shares

£1

3,000

3,000

30,000

30,000

The ordinary alphabet shares carry rights to voting, dividends and capital.

11.	RELATED PARTY DISCLOSURES

During the year the company paid £45,885 (2025 £45,885) rent to the directors Mr & Mrs S Pike.

Control of the company throughout the year rested with the directors Mr & Mrs S Pike.

12.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. Contributions outstanding as of the balance sheet date totalled £6,761 (2025 : £3,348)