IRIS Accounts Production v25.3.0.601 08624083 Board of Directors Board of Directors 31.3.25 1.4.24 31.3.25 31.3.25 true false true true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 08624083 2024-03-31 08624083 2025-03-31 08624083 2024-04-01 2025-03-31 08624083 2023-03-31 08624083 2023-04-01 2024-03-31 08624083 2024-03-31 08624083 ns15:EnglandWales 2024-04-01 2025-03-31 08624083 ns14:Euro 2024-04-01 2025-03-31 08624083 ns10:Director1 2024-04-01 2025-03-31 08624083 ns10:Director2 2024-04-01 2025-03-31 08624083 ns10:Consolidated 2025-03-31 08624083 ns10:ConsolidatedGroupCompanyAccounts 2024-04-01 2025-03-31 08624083 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08624083 ns10:Consolidated ns10:SmallEntities 2024-04-01 2025-03-31 08624083 ns10:Consolidated ns10:Audited 2024-04-01 2025-03-31 08624083 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 08624083 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08624083 ns10:Consolidated ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 08624083 ns10:Consolidated ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08624083 ns10:FullAccounts 2024-04-01 2025-03-31 08624083 ns10:Consolidated 2024-04-01 2025-03-31 08624083 ns10:Director3 2024-04-01 2025-03-31 08624083 ns10:Director4 2024-04-01 2025-03-31 08624083 ns10:RegisteredOffice 2024-04-01 2025-03-31 08624083 ns10:Consolidated 2023-04-01 2024-03-31 08624083 ns5:CurrentFinancialInstruments 2025-03-31 08624083 ns5:CurrentFinancialInstruments 2024-03-31 08624083 ns5:ShareCapital 2025-03-31 08624083 ns5:ShareCapital 2024-03-31 08624083 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 08624083 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 08624083 ns5:PlantMachinery 2024-04-01 2025-03-31 08624083 ns5:FurnitureFittings 2024-04-01 2025-03-31 08624083 ns5:ComputerEquipment 2024-04-01 2025-03-31 08624083 ns5:PlantMachinery 2024-03-31 08624083 ns5:FurnitureFittings 2024-03-31 08624083 ns5:ComputerEquipment 2024-03-31 08624083 ns5:PlantMachinery 2025-03-31 08624083 ns5:FurnitureFittings 2025-03-31 08624083 ns5:ComputerEquipment 2025-03-31 08624083 ns5:PlantMachinery 2024-03-31 08624083 ns5:FurnitureFittings 2024-03-31 08624083 ns5:ComputerEquipment 2024-03-31 08624083 ns5:CostValuation 2024-03-31 08624083 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 08624083 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 08624083 ns5:WithinOneYear 2025-03-31 08624083 ns5:WithinOneYear 2024-03-31 08624083 ns5:BetweenOneFiveYears 2025-03-31 08624083 ns5:BetweenOneFiveYears 2024-03-31 08624083 ns5:AllPeriods 2025-03-31 08624083 ns5:AllPeriods 2024-03-31

REGISTERED NUMBER: 08624083 (England and Wales)

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

PIX TRANSMISSIONS EUROPE LTD

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 3 |

| Consolidated Income Statement | 7 |

| Consolidated Balance Sheet | 8 |

| Company Balance Sheet | 9 |

| Notes to the Consolidated Financial Statements | 10 |

| PIX TRANSMISSIONS EUROPE LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

| DIRECTORS: | A Sethi

| S Sethi

| R Sethi

| K Sethi

| REGISTERED OFFICE: | 12 Sterling Complex

| Farthing Road

| Ipswich

| Suffolk

| IP1 5AP

| REGISTERED NUMBER: | 08624083 (England and Wales)

| AUDITORS: | Clemence Hoar Cummings

| Chartered Accountants and Statutory Auditor

| Riverside House

| 1-5 Como Street

| Romford

| Essex

| RM7 7DN

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of selling belts and related mechanical transmissions products.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report.

A Sethi

S Sethi

R Sethi

K Sethi

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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). 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 the group and of the profit or loss of the group 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;

- | 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 directors are 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 each director 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.

AUDITORS

The auditors, Clemence Hoar Cummings, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

R Sethi - Director

21st May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

PIX TRANSMISSIONS EUROPE LTD

Opinion

We have audited the financial statements of Pix Transmissions Europe Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and 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 31st 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 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 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 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

PIX TRANSMISSIONS EUROPE LTD

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 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 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 directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit; or

- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

PIX TRANSMISSIONS EUROPE LTD

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 designed our work to ensure that laws and regulations have been adhered to, and the

transactions undertaken by the company are properly reflected in the financial statements.

We have obtained a detailed understanding of the Company's internal control systems and we have used

the knowledge gained to identify any areas of risk of mis-statement or fraud. We have then designed our

audit tests in each area to identify whether in respect of the transactions we have selected for testing the

relevant controls have operated as expected.

We plan our work specifically to identify any areas where there is a susceptibility to mis-statement or

fraud such as understatement of income and then design tests to mitigate this risk. Our work includes a

review of shipping terms for both sales and purchases to ensure that the cut-off for both sales and cost of

sales is recorded correctly

We have evaluated the appropriateness of accounting policies used and the reasonableness of accounting

estimates and related disclosures made by the directors.

We have concluded on the appropriateness of management's use of the going concern basis of accounting

and, based on the audit evidence obtained, whether a material uncertainty exists related to events or

conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we

conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to

the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our

opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report.

However, future events or conditions may cause the Company to cease to continue as a going concern

We communicate with those charged with governance regarding, among other matters, the planned

scope and timing of the audit and significant audit findings, including any significant deficiencies in

internal control that we identify during our audit.

We have then designed our audit tests in each area to identify whether in respect of the transactions we

have selected for testing the relevant controls have operated as expected.

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 financial statements 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 financial statements, 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

PIX TRANSMISSIONS EUROPE 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.

Lee Blunden FCCA CTA (Senior Statutory Auditor)

for and on behalf of Clemence Hoar Cummings

Chartered Accountants and Statutory Auditor

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

21st May 2025

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

CONSOLIDATED

INCOME STATEMENT

FOR THE YEAR ENDED 31ST MARCH 2025

| 2025 | 2024 |

| Notes | € | € | € | € |

TURNOVER | 10,625,994 |  | 8,173,419 |  |

Cost of sales | 6,819,160 |  | 5,127,298 |  |

GROSS PROFIT | 3,806,834 |  | 3,046,121 |  |

Distribution costs | 671,761 |  | 351,417 |  |

Administrative expenses | 1,929,061 |  | 1,755,215 |  |

|  |  | 2,600,822 |  |  |  |  | 2,106,632 |  |

OPERATING PROFIT | 4 | 1,206,012 |  | 939,489 |  |

Interest receivable and similar income | 30,005 |  | - |  |

PROFIT BEFORE TAXATION | 1,236,017 |  | 939,489 |  |

Tax on profit | 362,071 |  | 278,724 |  |

PROFIT FOR THE FINANCIAL YEAR | 873,946 |  | 660,765 |  |

Profit attributable to:

Owners of the parent | 873,946 |  | 660,765 |  |

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

CONSOLIDATED BALANCE SHEET

31ST MARCH 2025

| 2025 | 2024 |

| Notes | € | € | € | € |

FIXED ASSETS

Tangible assets | 6 | 120,990 |  | 140,051 |  |

Investments | 7 | - |  | - |  |

120,990 |  | 140,051 |  |

CURRENT ASSETS

Stocks | 8 | 1,993,928 |  | 1,549,580 |  |

Debtors | 9 | 2,563,030 |  | 1,983,706 |  |

Cash at bank and in hand | 1,244,418 |  | 1,248,260 |  |

5,801,376 |  | 4,781,546 |  |

CREDITORS

Amounts falling due within one year | 10 | 1,424,966 |  | 1,198,143 |  |

NET CURRENT ASSETS | 4,376,410 |  | 3,583,403 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,497,400 |  | 3,723,454 |  |

CAPITAL AND RESERVES

Called up share capital | 100,000 |  | 100,000 |  |

Retained earnings | 4,397,400 |  | 3,623,454 |  |

SHAREHOLDERS' FUNDS | 4,497,400 |  | 3,723,454 |  |

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 21st May 2025 and were signed on its behalf by:

R Sethi - Director

K Sethi - Director

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

COMPANY BALANCE SHEET

31ST MARCH 2025

| 2025 | 2024 |

| Notes | € | € | € | € |

FIXED ASSETS

Tangible assets | 6 | 1,083 |  | 728 |  |

Investments | 7 | 423,751 |  | 423,751 |  |

424,834 |  | 424,479 |  |

CURRENT ASSETS

Stocks | 8 | 106,279 |  | 113,559 |  |

Debtors | 9 | 1,235,426 |  | 814,772 |  |

Cash at bank and in hand | 53,763 |  | 97,761 |  |

1,395,468 |  | 1,026,092 |  |

CREDITORS

Amounts falling due within one year | 10 | 692,215 |  | 506,536 |  |

NET CURRENT ASSETS | 703,253 |  | 519,556 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,128,087 |  | 944,035 |  |

CAPITAL AND RESERVES

Called up share capital | 100,000 |  | 100,000 |  |

Retained earnings | 1,028,087 |  | 844,035 |  |

SHAREHOLDERS' FUNDS | 1,128,087 |  | 944,035 |  |

Company's profit for the financial year | 284,052 |  | 105,200 |  |

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 21st May 2025 and were signed on its behalf by:

K Sethi - Director

R Sethi - Director

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

1. | STATUTORY INFORMATION

| Pix Transmissions Europe 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 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" 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.

| Tangible fixed assets

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

| Plant and machinery | - | 15% on cost

| Fixtures and fittings | - | 15% on cost

| Computer equipment | - | 15% on cost

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 28 (2024 - 27 ) .

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

€ | € |

| Depreciation - owned assets | 25,555 |  | 25,244 |  |

5. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6. | TANGIBLE FIXED ASSETS

| Group

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

€ | € | € | € |

| COST

| At 1st April 2024 | 201,654 |  | 33,867 |  | 92,877 |  | 328,398 |  |

| Additions | - |  | 211 |  | 6,283 |  | 6,494 |  |

| At 31st March 2025 | 201,654 |  | 34,078 |  | 99,160 |  | 334,892 |  |

| DEPRECIATION

| At 1st April 2024 | 82,735 |  | 28,625 |  | 76,987 |  | 188,347 |  |

| Charge for year | 16,747 |  | 1,629 |  | 7,179 |  | 25,555 |  |

| At 31st March 2025 | 99,482 |  | 30,254 |  | 84,166 |  | 213,902 |  |

| NET BOOK VALUE

| At 31st March 2025 | 102,172 |  | 3,824 |  | 14,994 |  | 120,990 |  |

| At 31st March 2024 | 118,919 |  | 5,242 |  | 15,890 |  | 140,051 |  |

| Company

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

€ | € | € | € |

| COST

| At 1st April 2024 | 511 |  | 12,023 |  | 8,252 |  | 20,786 |  |

| Additions | - |  | - |  | 620 |  | 620 |  |

| At 31st March 2025 | 511 |  | 12,023 |  | 8,872 |  | 21,406 |  |

| DEPRECIATION

| At 1st April 2024 | 443 |  | 12,023 |  | 7,592 |  | 20,058 |  |

| Charge for year | 39 |  | - |  | 226 |  | 265 |  |

| At 31st March 2025 | 482 |  | 12,023 |  | 7,818 |  | 20,323 |  |

| NET BOOK VALUE

| At 31st March 2025 | 29 |  | - |  | 1,054 |  | 1,083 |  |

| At 31st March 2024 | 68 |  | - |  | 660 |  | 728 |  |

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

7. | FIXED ASSET INVESTMENTS

| Company

| Other

| investments

€ |

| COST

| At 1st April 2024

| and 31st March 2025 | 423,751 |  |

| NET BOOK VALUE

| At 31st March 2025 | 423,751 |  |

| At 31st March 2024 | 423,751 |  |

8. | STOCKS

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

€ | € | € | € |

| Stocks | 1,362,777 |  | 1,115,910 |  | 30,198 |  | 14,178 |  |

| Goods in transit | 631,151 |  | 433,670 |  | 76,081 |  | 99,381 |  |

1,993,928 |  | 1,549,580 |  | 106,279 |  | 113,559 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

€ | € | € | € |

| Trade debtors | 2,484,444 |  | 1,854,956 |  | 1,213,671 |  | 768,082 |  |

| Amounts owed by group undertakings | - |  | - |  | 14,941 |  | - |  |

| Other debtors | 52,564 |  | 103,164 |  | - |  | 28,313 |  |

| VAT | - |  | - |  | 2,879 |  | - |  |

| Prepayments | 26,022 |  | 25,586 |  | 3,935 |  | 18,377 |  |

2,563,030 |  | 1,983,706 |  | 1,235,426 |  | 814,772 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

€ | € | € | € |

| Trade creditors | 84,764 |  | 78,790 |  | 37,082 |  | 48,451 |  |

| Amounts owed to group undertakings | 1,297,763 |  | 957,245 |  | 611,023 |  | 280,715 |  |

| Taxation | (51,344 | ) | 58,570 |  | 28,524 |  | 35,777 |  |

| VAT | 22,094 |  | 48,052 |  | - |  | 31,588 |  |

| Other creditors | 26,789 |  | 25,086 |  | 5,086 |  | 4,005 |  |

| Intercompany Loan | - |  | - |  | - |  | 100,000 |  |

| Accrued expenses | 44,900 |  | 30,400 |  | 10,500 |  | 6,000 |  |

1,424,966 |  | 1,198,143 |  | 692,215 |  | 506,536 |  |

11. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

PIX TRANSMISSIONS EUROPE LTD (REGISTERED NUMBER: 08624083) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

€ | € |

| Within one year | 238,595 |  | 256,570 |  |

| Between one and five years | 122,984 |  | 361,580 |  |

361,579 |  | 618,150 |  |

| Company

| Non-cancellable |

| operating leases |

2025 | 2024 |

€ | € |

| Within one year | 11,813 |  | 23,625 |  |

| Between one and five years | - |  | 11,813 |  |

11,813 |  | 35,438 |  |

12. | RELATED PARTY DISCLOSURES

| The following purchases from related parties took place during the year ended 31st March 2025.

| Company Name |  | During |  | During |  |  | As at |  |  | As at |

|  | 2025 |  | 2024 |  |  | 31.03.25 |  |  | 31.03.24 |

|  | € |  | € |  |  | € |  |  | € |

| Pix Transmissions Limited |  | 7,148,683 |  | 5,300,791 |  |  | 1,297,763 |  |  | 957,245 |

| Pix Transmissions Limited is the parent company.