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Registered number: 01827228 (England & Wales)
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CONTENTS
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COMPANY INFORMATION
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STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Intralox Limited acts as a global dedicated assembly centre, facilitating the shortest lead times and supplying the global group.
The key performance indicators for the company are costs per square metre assembled, overall efficiency and delivery service level which are reviewed globally on a monthly basis. The directors consider that disclosing the actual cost per square metre is commercially sensitive. However, the cost per square metre has increased by 22% in comparison to 2024, due to the increase in material and labour costs. The efficiency of production is demonstrated in the warehouse accuracy of 97.9% (2024 – 98.0%). Delivery service achieved overall on time delivery of 99.8% (2024 - 99.9%) and customer quality conformance of 99.6% (2024 - 99.6%).
Turnover for the year increased to £60.0m (2024 - £52.1m), £5m of this increase was from sales to trade customers in the UK and £2m was from sales to the global group. The increase in sales to UK trade customers was a result of cyclical trends in orders from customers in certain industries. The gross profit has increased to £14.6m (2024 - £11.2m). As the company manufactures bespoke products, the level of complexity and manpower required can vary year on year, and this is reflected in the movement in cost of sales. Material prices and labour rates both continued to rise during the year, with cost of sales increasing by 10.9% overall. However, this was outpaced by revenue growth of 15.1%, driven by higher sales volumes, and supported by improved labour productivity within the assembly operation. As a result, gross profit increased. Profit for the year after taxation amounted to £6.4m (2024 - £4.9m).
At the year end, the company had net assets of £28.5m (2024 - £22.1m) including stock of £21.9m (2024 - £18.0m). The company paid a dividend of £nil (2024 - £13.1m).
Intralox Limited continues to play a critical role in supporting the global group while maintaining its commitment to delivering value to customers, fostering business resilience, and supporting employees. We remain vigilant in monitoring geopolitical developments and will adapt our operations as needed to safeguard the interests of all stakeholders.
The company has treasury and liquidity management procedures in place appropriate to the size and complexity of the business.
Management is of the opinion that the company is not exposed to significant financial instrument, price, credit, liquidity or cash flow risk due to the transactions with and support of other group companies.
Future developments and post balance sheet events
Despite the ongoing challenges posed by global economic uncertainties and persistent inflationary pressures in the European Union and the UK, Intralox Limited's operations have remained resilient throughout 2025. Inflationary trends have been shaped by a combination of factors, including energy market volatility exacerbated by the war in Ukraine, uncertainty arising from potential US trade tariffs, lingering supply chain disruptions, and evolving consumer demand patterns.
In response to both current needs and anticipated growth, we continue to be invested in our operations in the UK. This strategic investment underscores our commitment to enhancing operational capacity and positioning ourselves for long-term growth. By proactively addressing these challenges, we aim to strengthen our ability to serve customers effectively and support sustainable business development amidst a dynamic economic environment.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
As directors of Intralox Limited, we acknowledge our duty under Section 172 of the Companies Act 2006 to promote the success of the company for the benefit of its stakeholders. Our business philosophy addresses and fulfils our duties to our stakeholders:
∙Shareholders: we prioritise the long-term interests of our shareholders, aiming for sustainable growth driven by innovating and providing value for our customers.
∙Employees: we create an environment where self-managed employees thrive and reach their personal and professional potential while engaged in fulfilling, safe and satisfying work. Intralox Limited proactively manages leading and lagging employee safety indicators and reports on progress to its Board of Managers twice per year.
∙Customers: we provide our customers the most competitive prices while generating the profits needed to continuously improve our products and services.
∙Suppliers: we maintain ethical relationships with suppliers, assessing their financial stability and sustainability. Intralox Limited’s Supplier Code of Conduct reinforces our own practices, prohibiting forced, abusive, or child labour. As directors we understand that Intralox Limited continues to be classed as a “large” UK company so there is now a prominent statement on our website concerning the Modern Slavery Act 2015.
∙Environment: while our operations in the UK are limited to light assembly, primarily using components produced in the US and shipped via ocean, we recognise the importance of minimising our environmental impact. Initiatives include reducing waste, conserving resources, and promoting sustainability. Intralox Limited’s commitment to responsible environmental management strengthens our resolve.
∙Community: we actively engage with local communities, supporting social initiatives and contributing positively. Intralox Limited’s compliance with applicable laws and regulations aligns with our community relations goals.
∙Corporate governance: transparency, accountability, and ethical behaviour guide our governance practices. Intralox Limited’s commitment to maintaining a responsible supply chain reinforces our own principles.
This statement reflects our commitment to balancing stakeholder interests and promoting the long-term success of Intralox Limited.
This report was approved by the board and signed on its behalf by:
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the audited financial statements for the year ended 31 December 2025.
The directors who served during the year were:
E. F. Blanks (resigned 1 January 2026)
M. J. Thomas was appointed as a director on 31 July 2026.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK 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 to 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.
The company has paid dividends in the current year of £nil (2024 - £13.1m). The directors do not recommend the payment of a final dividend.
Intralox Limited does not have any branches outside of the UK. The company does not engage in research and development.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The company has gathered data regarding scope one and scope two carbon emissions (as defined by the GHG Protocol) for the year ended 31 December 2025 from its UK operations for inclusion in Company Reporting as defined by the requirements of the Streamlined Energy and Carbon Reporting (SECR) legislation.
A summary of the greenhouse gas emissions and energy consumption (GHG Methodology) for the year ended 31 December 2025 is presented below:
A summary of the greenhouse gas emissions and energy consumption (GHG Methodology) for the year ended 31 December 2024 is presented below:
*calculated from the UK Government annual conversion factors for greenhouse gas (GHG) reporting.
The board recognises the importance of our environmental responsibilities and aims to reduce our carbon intensity ratio when it is practical. Intralox Limited's environmental footprint is minimal as described below:
∙Carbon emissions: given our specific context of light assembly and component sourcing, we remain committed to minimising our carbon emissions impact. Intralox Limited's focus on responsibly managing the environmental impact of operations inspires our own efforts.
∙Water usage: we do not use water for manufacturing processes in our operations. Water use in our facility is limited to potable water and water used for toilet facilities.
∙Waste reduction: we have active initiatives to minimise waste in our operations. All plastic waste is either safely disposed to a waste handler/recycler or shipped to our facility to be reground and used in our products in a closed loop cycle.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Financial instruments, price risk, credit risk, liquidity risk, cash flow risk and future developments and post balance sheet events are considered in the Strategic Report on page 2, under principal risks and uncertainties. The company's relationship with suppliers, customers, and others is detailed in the Section 172 statement of the strategic report on page 3.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INTRALOX LIMITED
We have audited the financial statements of Intralox Limited (the 'company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income (including the Profit and Loss Account), the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and the related Notes, 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 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.
The other information comprises the information included in the Strategic and Directors' Reports. The directors are responsible for the other information contained within the Strategic and Directors' Reports. 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. 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 course of 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INTRALOX LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Directors' Report.
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 an Auditors' Report 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.
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.
As part of designing our audit, we determined materiality and assessed the risk of material misstatement in the financial statements, whether due to fraud or error, and then designed and performed audit procedures responsive to those risks. In particular, we looked at where the directors made subjective judgments such as making assumptions on significant accounting estimates.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INTRALOX LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements (continued)
To identify risks of material misstatements due to non-compliance with laws and regulations, we considered areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. Our procedures included:
∙at the planning stage, we gained an understanding of the legal and regulatory framework applicable to the company, the industry in which it operates and considered the risk of failing to comply with these legal and regulatory requirements;
∙we discussed the policies and procedures in place regarding compliance with laws and regulations;
∙we discussed amongst the engagement team the identified laws and regulations, and remained alert to any indications of non-compliance;
∙during the audit, we focused on areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussions with the directors (as required by auditing standards) and from inspection of the company's regulatory reports and other correspondence; and
∙we also considered other laws and regulations that have a direct impact on the preparation of financial statements, such as the Companies Act 2006 and UK tax legislation and we assessed the extent of compliance with those laws and regulations as part of our procedures on the related financial statements.
Auditing standards limit the required audit procedures to identify non-compliance with laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.
To identify risks of material misstatements due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our procedures included:
∙inquiries of management whether they have knowledge of any actual, suspected or alleged fraud;
∙gaining an understanding of the internal controls established to mitigate risk related to fraud;
∙using analytical procedures to identify any unusual or unexpected relationships;
∙discussion amongst the engagement team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements; and
∙review of unusual transactions and entries in sensitive nominal ledger accounts.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.
The primary responsibility for the prevention and detection of irregularities including fraud rests with both those charged with governance and management. As with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.
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 Auditors' Report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INTRALOX LIMITED (CONTINUED)
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 an Auditors' Report 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.
Andrew Moss (Senior Statutory Auditor)
For and on behalf of Chartered Accountants and Statutory Auditors
40 Queen Anne Street
W1G 9EL Date:
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STATEMENT OF COMPREHENSIVE INCOME (INCLUDING THE PROFIT AND LOSS ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2025
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BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 25 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Intralox Limited is a private company limited by share capital, incorporated in England and Wales, registered number 01827228. The address of the registered office is Building 90 Third Avenue, Pensnett Estate, Kingswinford, West Midlands, DY6 7FW.
2.Accounting policies
The following principal accounting policies have been applied:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Interest income is recognised in the Statement of Comprehensive Income (including the Profit and Loss Account) using the effective interest method.
Functional and presentation currency
Transactions and balances
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in Statement of Comprehensive Income (including the Profit and Loss Account).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are charged as an expense to the Statement of Comprehensive Income (including the Profit and Loss Account) in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of expenditure required to settle the obligation, taking into account the related risks and uncertainties.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans to and from related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income (including the Profit and Loss Account).
Financial assets and liabilities are offset, and the net amount reported in the Balance Sheet when there is an 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
All of the directors of the company are remunerated elsewhere in the group.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Distributable reserves
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
20.Other financial commitments
The company has a bond in favour of HM Customs & Excise of £150,000 (2024 - £150,000).
The company is a wholly owned subsidiary of Intralox LLC, 200 Laitram Lane, Harahan, 70123, Louisiana, United States of America. The ultimate holding company is Laitram Group Inc., incorporated in the United States of America. Both companies are privately owned.
The financial statements of the company are consolidated in the group financial statements of Intralox LLC and Laitram LLC. The consolidated financial statements of these groups are not available to the public.
The ultimate controlling party is the Lapeyre family.
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