REGISTERED NUMBER: 00479009 (England and Wales)

XEINZ GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

to

7

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Statement of Financial Position

10

Company Statement of Financial Position

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Statement of Cash Flows

14

Notes to the Consolidated Statement of Cash Flows

15

Notes to the Consolidated Financial Statements

16

to

27

DIRECTOR:

C L Farrow

SECRETARY:

Mrs E J Corrigan

REGISTERED OFFICE:

Welland Business Park

Clay Lake

Spalding

Lincolnshire

PE12 6BL

REGISTERED NUMBER:

00479009 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

The director presents his strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

The balance sheet remains robust, and the group continues to invest in additional facilities, employees, equipment and IT projects throughout the period to further enhance productivity and margin.

Strong cash reserves have positioned the group well to take advantage of material price movements, and it is expected that these resources will be deployed during 2025/6 to reduce material costs across group businesses.

During the coming period, the group will continue its focus on supporting net margins in a challenging environment, with emphasis on employee productivity, material cost management, and control of overheads.

PRINCIPAL RISKS AND UNCERTAINTIES

The group remains exposed to financial market movements, principally the risk of a strengthening pound, which could affect competitiveness later in the year.

Despite these risks, the group remains well capitalized, with low net borrowing and a strong management and operational team to drive it forward. Relative to competitors, the risks are considered limited, and the medium-term outlook remains positive.

ON BEHALF OF THE BOARD:

C L Farrow - Director

18 September 2025

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2025.

DIVIDENDS

Dividends were paid totalling £54.91 and £144.51 on B ordinary shares and £35.39 and £231.30 on C ordinary shares.

DIRECTOR

C L Farrow held office during the whole of the period from 1 April 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

C L Farrow - Director

18 September 2025

Opinion

We have audited the financial statements of Xeinz Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 group's and of the parent company affairs as at 31 March 2025 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as depreciation of tangible fixed assets, as well as the risk of inappropriate journal entries to manipulate profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates and re-performing the calculation.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations, employment laws and quality management system.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection. This inspection included confirmation of valid ISO:9001 accreditation, a review of the company's employment and health and safety controls, to ensure no areas of non-compliance. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

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. 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. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance 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 Report of the Auditors.

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.

Alistair Main FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

18 September 2025

TURNOVER

3

15,723,914

15,830,487

Cost of sales

13,704,485

13,451,247

GROSS PROFIT

2,019,429

2,379,240

Distribution costs

38,441

22,695

Administrative expenses

1,546,048

1,430,810

1,584,489

1,453,505

434,940

925,735

Other operating income

30,221

3,266

OPERATING PROFIT

5

465,161

929,001

Loan balance written off

6

78,560

55,411

386,601

873,590

Interest receivable and similar income

136,572

96,508

523,173

970,098

Interest payable and similar expenses

7

67,586

102,333

PROFIT BEFORE TAXATION

455,587

867,765

Tax on profit

8

110,484

118,293

PROFIT FOR THE FINANCIAL YEAR

345,103

749,472

Profit attributable to:

Owners of the parent

345,103

749,472

PROFIT FOR THE YEAR

345,103

749,472

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

345,103

749,472

Total comprehensive income attributable to:

Owners of the parent

345,103

749,472

FIXED ASSETS

Intangible assets

11

109,657

112,769

Tangible assets

12

3,343,677

3,585,355

Investments

13

-

-

3,453,334

3,698,124

CURRENT ASSETS

Stocks

14

4,316,619

2,971,328

Debtors

15

1,904,687

1,760,677

Cash at bank and in hand

2,023,316

2,042,494

8,244,622

6,774,499

CREDITORS

Amounts falling due within one year

16

3,459,917

2,240,320

NET CURRENT ASSETS

4,784,705

4,534,179

TOTAL ASSETS LESS CURRENT LIABILITIES

8,238,039

8,232,303

CREDITORS

Amounts falling due after more than one year

17

(448,063

)

(632,268

)

PROVISIONS FOR LIABILITIES

22

(251,477

)

(300,761

)

NET ASSETS

7,538,499

7,299,274

CAPITAL AND RESERVES

Called up share capital

23

1,152

1,152

Revaluation reserve

24

1,563,972

1,563,972

Capital redemption reserve

24

3,450

3,450

Retained earnings

24

5,969,925

5,730,700

SHAREHOLDERS' FUNDS

7,538,499

7,299,274

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

C L Farrow - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

2,626,503

2,754,704

Investments

13

1,373,268

1,373,268

3,999,771

4,127,972

CURRENT ASSETS

Debtors

15

819,567

412,293

Cash at bank

758,947

1,018,593

1,578,514

1,430,886

CREDITORS

Amounts falling due within one year

16

390,135

440,450

NET CURRENT ASSETS

1,188,379

990,436

TOTAL ASSETS LESS CURRENT LIABILITIES

5,188,150

5,118,408

CREDITORS

Amounts falling due after more than one year

17

(256,663

)

(364,308

)

PROVISIONS FOR LIABILITIES

22

(99,216

)

(118,752

)

NET ASSETS

4,832,271

4,635,348

CAPITAL AND RESERVES

Called up share capital

23

1,152

1,152

Revaluation reserve

24

1,421,465

1,421,465

Capital redemption reserve

24

3,450

3,450

Retained earnings

24

3,406,204

3,209,281

SHAREHOLDERS' FUNDS

4,832,271

4,635,348

Company's profit for the financial year

302,801

482,924

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

C L Farrow - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

1,152

5,127,108

1,563,972

3,450

6,695,682

Changes in equity

Dividends

-

(145,880

)

-

-

(145,880

)

Total comprehensive income

-

749,472

-

-

749,472

Balance at 31 March 2024

1,152

5,730,700

1,563,972

3,450

7,299,274

Changes in equity

Dividends

-

(105,878

)

-

-

(105,878

)

Total comprehensive income

-

345,103

-

-

345,103

Balance at 31 March 2025

1,152

5,969,925

1,563,972

3,450

7,538,499

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

1,152

2,872,237

1,421,465

3,450

4,298,304

Changes in equity

Dividends

-

(145,880

)

-

-

(145,880

)

Total comprehensive income

-

482,924

-

-

482,924

Balance at 31 March 2024

1,152

3,209,281

1,421,465

3,450

4,635,348

Changes in equity

Dividends

-

(105,878

)

-

-

(105,878

)

Total comprehensive income

-

302,801

-

-

302,801

Balance at 31 March 2025

1,152

3,406,204

1,421,465

3,450

4,832,271

Cash flows from operating activities

Cash generated from operations

1

109,282

2,501,183

Interest paid

(56,839

)

(88,927

)

Interest element of hire purchase payments paid

(10,747

)

(13,406

)

Finance costs paid

(78,560

)

(55,411

)

Tax paid

(334,442

)

614

Net cash from operating activities

(371,306

)

2,344,053

Cash flows from investing activities

Purchase of tangible fixed assets

(52,358

)

(222,468

)

Sale of tangible fixed assets

-

6,820

Interest received

136,572

96,508

Net cash from investing activities

84,214

(119,140

)

Cash flows from financing activities

New loans in year

552,918

-

Loan repayments in year

(107,645

)

(1,287,074

)

Capital repayments in year

(76,560

)

(76,560

)

Equity dividends paid

(105,878

)

(145,880

)

Net cash from financing activities

262,835

(1,509,514

)

(Decrease)/increase in cash and cash equivalents

(24,257

)

715,399

Cash and cash equivalents at beginning of year

2

2,042,494

1,327,095

Cash and cash equivalents at end of year

2

2,018,237

2,042,494

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

2025

2024

£

£

Profit before taxation

455,587

867,765

Depreciation charges

297,147

277,335

Profit on disposal of fixed assets

-

(16

)

Loan balance written off

78,560

55,411

Finance costs

67,586

102,333

Finance income

(136,572

)

(96,508

)

762,308

1,206,320

(Increase)/decrease in stocks

(1,345,291

)

1,895,171

(Increase)/decrease in trade and other debtors

(144,009

)

196,072

Increase/(decrease) in trade and other creditors

836,274

(796,380

)

Cash generated from operations

109,282

2,501,183

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

2,023,316

2,042,494

Bank overdrafts

(5,079

)

-

2,018,237

2,042,494

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,042,494

1,328,710

Bank overdrafts

-

(1,615

)

2,042,494

1,327,095

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,042,494

(19,178

)

2,023,316

Bank overdrafts

-

(5,079

)

(5,079

)

2,042,494

(24,257

)

2,018,237

Debt

Finance leases

(344,520

)

76,560

(267,960

)

Debts falling due within 1 year

(107,200

)

(552,918

)

(660,118

)

Debts falling due after 1 year

(364,308

)

107,645

(256,663

)

(816,028

)

(368,713

)

(1,184,741

)

Total

1,226,466

(392,970

)

833,496

1.	STATUTORY INFORMATION

Xeinz Group Limited 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 General Information page.

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 as modified by the revaluation of certain assets.

Critical accounting judgements and estimation uncertainty

In the application of the Group's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are currently no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised based on the terms of the sale, either on despatch from the group or on delivery and acceptance by the customer.

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.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost, 20% on reducing balance and 12.5% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Tangible fixed assets are recognised under the revaluation model where assets are recognised at the revaluation value less subsequent accumulated depreciation.

Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.

Fair values are determined from market based evidence. The last revaluation was undertaken at 31 March 2018 for non property assets and 10 January 2023 for property assets.

Revaluation gains and losses are recognised in the Statement of Comprehensive Income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the profit or loss.

Freehold property assets are subsequently being depreciated at 2% on the revalued amount. Non property revalued assets are subsequently being depreciated at rates varying from 12.5% to 20% on the revalued amount in order to write down assets to residual values over their remaining useful economic life.