ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 09924044

LGX HOLDINGS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

LGX HOLDINGS LIMITED

COMPANY INFORMATION

Directors	R Buxton
	S Harris (resigned 29 October 2024)
	S Lyon
	E Buxton
	A Lyon


Registered number	09924044


Registered office	Unit 20 Bourne Industrial Park
	Bourne Road
	Crayford
	Dartford
	DA1 4BZ


Independent auditors	Barnes Roffe Audit Limited
	Chartered Accountants & Statutory Auditor
	Charles Lake House
	Claire Causeway
	Crossways Business Park
	Dartford
	Kent
	DA2 6QA

LGX HOLDINGS LIMITED

CONTENTS

	Page
Group strategic report	1 - 2
Directors' report	3 - 4
Independent auditors' report	5 - 8
Consolidated statement of comprehensive income	9
Consolidated balance sheet	10 - 11
Company balance sheet	12 - 13
Consolidated statement of changes in equity	14
Company statement of changes in equity	15
Consolidated statement of cash flows	16 - 17
Consolidated analysis of net debt	18
Notes to the financial statements	19 - 36

LGX HOLDINGS LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Introduction

The directors present their strategic report for the group for the year ended 31 March 2025.

Business review

With over 46 years in the industry, LightGraphix is a well-respected UK Lighting manufacturer which designs and manufactures lighting for the architectural, marine and display markets from our plant in Crayford with over one hundred (100) employees housed across three units that hold our offices, test facilities and assembly lines. Designing and manufacturing products within our UK plant means we can ensure innovation, quality, flexibility on delivery and production of customised products for our global customers.

LightGraphix position their products at the premium end of specification market and have a great reputation for producing high-quality, well-designed products backed by efficient and reliable customer service and identifies loss of reputation due to product failure or poor customer service as principal risks to the business. This is mitigated by the implementation of a rigorous and consistent quality control regime and the provision of continuous customer care training for all sales staff. Additionally, we have a large design team that services the customised orders and constantly innovates developing new products to expand our product range.

The company has supplied a wide range of prestigious projects around the world. Notably the Old War office, a landmark Grade II listed building in the heart of London. Enhancing the ambience and visibility of the National Site of Recognition in Australia. And supplying £800K of exterior lighting to the new Amaala Triple Bay Marina in the Red Sea, Saudi Arabia. Additionally, our new Window Reveal Light product was awarded third place in the exterior kit category at this year’s Darc awards.

The year under review has seen a 8% growth in turnover predominantly within Rest of World (ROW) market segment. In the coming year, the directors expect further revenue growth within the ROW but also acknowledge the increasing challenge to control direct and overhead cost to maintain margins and profitability within the current volatility in the global economy. In response to the growing demand, the company has acquired a further unit and increased headcount to meet our production requirements.

The directors of LightGraphix believe that the team is vital to its mission and endeavour to build a great working environment where a diverse workforce can together create, inspire, be engaged, productive, happy, and motivated. During the year, a new Sales Director was appointed, and the sales team restructured as part of our long-term strategy to support our aggressive 30% growth target across our UK and international markets. The directors remain committed to retaining staff expertise and employing new staff to fill any skills gaps identified.

LightGraphix strive to monitor our business impact on the environment and manufacture responsibly and make sustainable conscious design choices. As a leading UK manufacturer of lighting solutions, we are committed to a sustainable way of thinking and acting, where we limit our impact on the environment in which we live, work and play. Responsible product design and manufacturing is a continually evolving topic which we monitor closely in-house and work with our suppliers to achieve. During the year under review a new roof was installed to help with insulation and reduce our carbon footprint. LightGraphix was independently certified as carbon neutral in the year under review and working towards their net zero plan.

Looking forward, the balance sheet remains strong, and the business has momentum in our sales pipelines, so the directors expect to build on the current performance in the coming year.

Principal risks and uncertainties

The key business risks and uncertainties are considered to relation to competition, the state of the UK and global economies particularly relating to cost of materials driven by the impact of tariffs from the US, Middle East conflict and the sharp rise in the national living wage and employer national insurances contributions hike from the recent budget. These risks are monitored by the Board on an ongoing basis.

Page 1

LGX HOLDINGS LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Financial key performance indicators

The directors consider the gross margin and turnover to be the key performance indicators of the business.

This report was approved by the board on 8 August 2025 and signed on its behalf.

S Lyon

Director

Page 2

LGX HOLDINGS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Group's financial statements and then apply them consistently;

∙make judgments 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 Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £839,144 (2024 - £1,278,560).

During the year dividends were paid amounting to £74,860 (2024: £566,092)

Directors

The directors who served during the year were:

R Buxton

S Harris (resigned 29 October 2024)

S Lyon

E Buxton

A Lyon

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.

Page 3

LGX HOLDINGS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Auditors

After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.

This report was approved by the board and signed on its behalf.

S Lyon

Director

Date: 8 August 2025

Page 4

LGX HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LGX HOLDINGS LIMITED

Opinion

We have audited the financial statements of LGX Holdings Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the , the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity 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 our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the parent company's 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 United Kingdom, including the Financial Reporting Council'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 or 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.

Page 5

LGX HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LGX HOLDINGS LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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.

Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group strategic report and the Directors' report 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 Directors' report.

We have nothing to report in respect of the following matters in relation to which 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.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 3, 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 is 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.

Page 6

LGX HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LGX HOLDINGS LIMITED (CONTINUED)

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 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 Group 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:

• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector;
• The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows;

o Companies Act 2006.
o FRS102.
o GDPR
o Employment legislation
o Tax legislation
o Lighting Industry association
o Lloyds register

• We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting legal correspondence;
• Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
• Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
• Reviewing the financial statements and testing the disclosures against supporting documentation;
• Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
• Inspecting and testing journal entries to identify unusual or unexpected transactions;
• Assessing whether judgement and assumptions made in determining significant accounting estimates, were indicative of management bias; and
• Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.

The areas that we identified as being susceptible to misstatement through fraud were:
• Management bias in the estimates and judgements made;
• Management override of controls; and
• Posting of unusual journals or transactions.

Page 7

LGX HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LGX HOLDINGS LIMITED (CONTINUED)

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 Auditors' report.

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 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.

Jamie Hall (Senior statutory auditor)

for and on behalf of

Barnes Roffe Audit Limited

Chartered Accountants

Statutory Auditor

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA

Date: 11 November 2025

Page 8

LGX HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
Note	£	£


Turnover	4	10,319,673	9,569,402
Cost of sales		(4,700,591)	(4,203,506)
Gross profit		5,619,082	5,365,896
Administrative expenses		(5,017,763)	(3,799,129)
Operating profit	5	601,319	1,566,767
Interest receivable and similar income	9	77,494	41,066
Interest payable and similar expenses	10	(300)	(29,024)
Profit before taxation		678,513	1,578,809
Tax on profit	11	160,631	(300,249)
Profit for the financial year		839,144	1,278,560

Profit for the year attributable to:
Owners of the parent company	839,144	1,278,560
	839,144	1,278,560

There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 19 to 36 form part of these financial statements.

Page 9

LGX HOLDINGS LIMITED

REGISTERED NUMBER: 09924044

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	14		95,873		97,648
Tangible assets	15		1,477,374		1,343,825
			1,573,247		1,441,473
Current assets
Stocks	17	1,781,900		1,239,725
Debtors: amounts falling due within one year	18	1,178,955		826,289
Cash at bank and in hand	19	2,202,224		2,287,522
		5,163,079		4,353,536
Creditors: amounts falling due within one year	20	(2,939,038)		(2,135,002)
Net current assets			2,224,041		2,218,534
Total assets less current liabilities			3,797,288		3,660,007
Provisions for liabilities
Deferred taxation	21		(21,977)		(48,980)
Net assets			3,775,311		3,611,027

Capital and reserves
Called up share capital	22	144,000	160,000
Capital redemption reserve		16,000	-
Profit and loss account		3,615,311	3,451,027
		3,775,311	3,611,027

Page 10

LGX HOLDINGS LIMITED

REGISTERED NUMBER: 09924044

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S Lyon

Director

Date: 8 August 2025

The notes on pages 19 to 36 form part of these financial statements.

Page 11

LGX HOLDINGS LIMITED

REGISTERED NUMBER: 09924044

COMPANY BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	15		1,298,613		1,140,234
Investments	16		7,783,429		7,783,429
			9,082,042		8,923,663
Current assets
Debtors: amounts falling due within one year	18	31,785		2,531
Cash at bank and in hand	19	148,837		185,030
		180,622		187,561
Creditors: amounts falling due within one year	20	(825,095)		(624,403)
Net current liabilities			(644,473)		(436,842)
Total assets less current liabilities			8,437,569		8,486,821

Provisions for liabilities
Deferred taxation	21		-		(106)
Net assets			8,437,569		8,486,715

Capital and reserves
Called up share capital	22		144,000		160,000
Capital redemption reserve			16,000		-
Profit and loss account brought forward		8,326,715		7,780,689
Profit for the year		625,714		1,112,118
Other changes in the profit and loss account		(674,860)		(566,092)
Profit and loss account carried forward			8,277,569		8,326,715
			8,437,569		8,486,715

Page 12

LGX HOLDINGS LIMITED

REGISTERED NUMBER: 09924044

COMPANY BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S Lyon

Director

Date: 8 August 2025

The notes on pages 19 to 36 form part of these financial statements.

Page 13

LGX HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Equity attributable to owners of parent company	Total equity
	£	£	£	£	£
At 1 April 2024	160,000	-	3,451,027	3,611,027	3,611,027

Profit for the year	-	-	839,144	839,144	839,144
Dividends	-	-	(74,860)	(74,860)	(74,860)
Purchase of own shares	-	16,000	(600,000)	(584,000)	(584,000)
Shares redeemed during the year	(16,000)	-	-	(16,000)	(16,000)
At 31 March 2025	144,000	16,000	3,615,311	3,775,311	3,775,311

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2024

	Called up share capital	Profit and loss account	Equity attributable to owners of parent company	Total equity
	£	£	£	£
At 1 April 2023	160,000	2,738,559	2,898,559	2,898,559

Profit for the year	-	1,278,560	1,278,560	1,278,560
Dividends	-	(566,092)	(566,092)	(566,092)
At 31 March 2024	160,000	3,451,027	3,611,027	3,611,027

The notes on pages 19 to 36 form part of these financial statements.

Page 14

LGX HOLDINGS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2024	160,000	-	8,326,715	8,486,715

Profit for the year	-	-	625,714	625,714
Dividends	-	-	(74,860)	(74,860)
Purchase of own shares	-	16,000	(600,000)	(584,000)
Shares redeemed during the year	(16,000)	-	-	(16,000)
At 31 March 2025	144,000	16,000	8,277,569	8,437,569

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2023	160,000	7,780,689	7,940,689

Profit for the year	-	1,112,118	1,112,118
Dividends	-	(566,092)	(566,092)
At 31 March 2024	160,000	8,326,715	8,486,715

The notes on pages 19 to 36 form part of these financial statements.

Page 15

LGX HOLDINGS LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	839,144	1,278,560
Adjustments for:
Amortisation of intangible assets	32,456	18,391
Depreciation of tangible assets	120,781	100,680
Loss on disposal of tangible assets	-	1,266
Interest paid	300	29,024
Interest received	(77,494)	(41,066)
Taxation charge	(160,631)	300,249
(Increase) in stocks	(542,175)	(100,276)
(Increase) in debtors	(7,174)	(132,292)
Increase in creditors	1,163,174	402,450
Corporation tax (paid)	(571,002)	(71,636)
Net cash generated from operating activities	797,379	1,785,350

Cash flows from investing activities
Purchase of intangible fixed assets	(30,681)	(59,295)
Purchase of tangible fixed assets	(254,330)	(106,897)
Sale of tangible fixed assets	-	5,239
Interest received	77,494	41,066
Net cash from investing activities	(207,517)	(119,887)
Cash flows from financing activities
Purchase of ordinary shares	(600,000)	-
Repayment of loans	-	(744,884)
Dividends paid	(74,860)	(566,092)
Interest paid	(300)	(29,024)
Net cash used in financing activities	(675,160)	(1,340,000)
Net (decrease)/increase in cash and cash equivalents	(85,298)	325,463
Cash and cash equivalents at beginning of year	2,287,522	1,962,059
Cash and cash equivalents at the end of year	2,202,224	2,287,522

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	2,202,224	2,287,522

Page 16

LGX HOLDINGS LIMITED

STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

		2025	2024
		£	£

	2,202,224	2,287,522

The notes on pages 19 to 36 form part of these financial statements.

Page 17

LGX HOLDINGS LIMITED

FOR THE YEAR ENDED 31 MARCH 2025


At 1 April 2024	Cash flows	At 31 March 2025
£	£	£

Cash at bank and in hand	2,287,522	(85,298)	2,202,224
	2,287,522	(85,298)	2,202,224

The notes on pages 19 to 36 form part of these financial statements.

Page 18

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

LGX Holdings Limited is a private limited by shares and incorporated in England and Wales. The address of the registered office is Unit 20 Bourne Industrial Park, Bourne Road, Crayford, Kent, DA1 4BZ.

The principal activity of the company during the year has been that of a management of holding company.

The principal activity of the group during the year has been that of the design and manufacture of electric lighting equipment.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 19

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 20

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 21

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Consolidated statement of comprehensive income over its useful economic life of five years.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 22

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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 bases:

Freehold property	-	4% straight line and land not depreciated
Assests under construction	-	Nil
Plant and machinery	-	15% straight line
Motor vehicles	-	25% straight line
Fixtures and fittings	-	15% / 33% straight line
Office equipment	-	33% / 25% straight line

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 profit or loss.

2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 23

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially

Page 24

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.18

Financial instruments (continued)

recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

There were no significant judgements exercised by management in the preparation of the financial statements.

The group made key assumptions regarding the amounts of stock to provide against as at the year end. Total stock provision as at the year end is £312,444 (2024 - £311,551). Please see note 2.14 of the accounting policies for further information.

Turnover

The whole of the turnover is attributable to the principal activity of the group.

					2025	2024
					£	£

United Kingdom	4,481,673	4,290,030
Rest of Europe	2,292,179	1,839,670
Rest of the world	3,545,821	3,439,702
	10,319,673	9,569,402

Research & development charged as an expense	6,177	17,649
Exchange differences	(13,270)	(8,076)
Other operating lease rentals	123,907	107,426

Page 25

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Auditors' remuneration
		2025	2024
		£	£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements	4,950	4,050
Fees payable to the company's auditors in respect of:
Audit of subsidiary company	14,000	10,000
All non-audit services not included above	19,392	11,041

7.	Employees
	Staff costs, including directors' remuneration, were as follows:

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Wages and salaries	4,300,723	2,941,105	782,919	73,830
Social security costs	449,457	285,759	102,439	3,367
Cost of defined contribution scheme	213,610	276,025	77,097	158,137
	4,963,790	3,502,889	962,455	235,334

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Director	5	5	5	5
Employees	98	87	-	-

	103	92	5	5

Page 26

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	782,919	73,830
Group contributions to defined contribution pension schemes	77,097	158,137
	860,016	231,967

	During the year retirement benefits were accruing to 5 directors (2024 - 5) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £345,660 (2024 - £15,353).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £15,000 (2024 - £71,966).

9.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	77,494	41,066
		77,494	41,066

10.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	-	28,724
Other loan interest payable	300	300
	300	29,024

Page 27

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Corporation tax
Current tax on profits for the year	183,994	398,838
Adjustments in respect of previous periods	(317,622)	(111,324)

Total current tax	(133,628)	287,514

	Deferred tax
	Origination and reversal of timing differences	(27,003)	12,735


		(160,631)	300,249

Profit on ordinary activities before tax

678,513

1,578,809

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	169,628	394,702
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	11,629	1,908
Capital allowances for year in excess of depreciation	4,009	2,228
Adjustments to tax charge in respect of prior periods	(317,622)	(111,324)
Movement on deferred tax	(27,003)	12,735
Marginal relief	(1,272)	-
Total tax charge/(credit) for the year	(160,631)	300,249

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 28

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.	Dividends
		2025	2024
		£	£

	Dividends	74,860	566,092
		74,860	566,092

13.	Parent company profit for the year

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent company for the year was £625,714 (2024 - £1,112,118).

14.	Intangible assets
	Group and Company

	Computer software	Goodwill	Total
	£	£	£
Cost
At 1 April 2024	114,045	5,232,320	5,346,365
Additions	30,681	-	30,681
At 31 March 2025	144,726	5,232,320	5,377,046
Amortisation
At 1 April 2024	16,397	5,232,320	5,248,717
Charge for the year on owned assets	32,456	-	32,456
At 31 March 2025	48,853	5,232,320	5,281,173
Net book value
At 31 March 2025	95,873	-	95,873
At 31 March 2024	97,648	-	97,648

Page 29

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.	Tangible fixed assets
	Group

	Freehold property	Assets under construction	Plant and machinery	Motor vehicles	Fixtures and fittings
	£	£	£	£	£
Cost or valuation
At 1 April 2024	1,362,744	26,971	291,967	19,999	180,165
Additions	138,376	3,750	77,782	-	24,531
Disposals	-	-	-	-	(6,954)
Transfers between classes	-	(26,971)	-	-	26,971
At 31 March 2025	1,501,120	3,750	369,749	19,999	224,713
Depreciation
At 1 April 2024	224,379	-	208,679	3,750	170,151
Charge for the year on owned assets	44,606	-	29,580	5,000	10,118
Disposals	-	-	-	-	(6,954)
At 31 March 2025	268,985	-	238,259	8,750	173,315
Net book value
At 31 March 2025	1,232,135	3,750	131,490	11,249	51,398
At 31 March 2024	1,138,365	26,971	83,288	16,249	10,014

Page 30

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.Tangible fixed assets (continued)

	Office equipment	Total
	£	£
Cost or valuation
At 1 April 2024	288,354	2,170,200
Additions	9,891	254,330
Disposals	(20,101)	(27,055)
Transfers between classes	-	-
At 31 March 2025	278,144	2,397,475
Depreciation
At 1 April 2024	219,416	826,375
Charge for the year on owned assets	31,477	120,781
Disposals	(20,101)	(27,055)
At 31 March 2025	230,792	920,101
Net book value
At 31 March 2025	47,352	1,477,374
At 31 March 2024	68,938	1,343,825

Page 31

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.Tangible fixed assets (continued)

	Company

	Freehold property	Assets under construction	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	1,362,744	-	-	76,018	1,438,762
Additions	138,376	3,750	61,926	3,972	208,024
At 31 March 2025	1,501,120	3,750	61,926	79,990	1,646,786
Depreciation
At 1 April 2024	224,379	-	-	74,149	298,528
Charge for the year on owned assets	44,606	-	3,612	1,427	49,645
At 31 March 2025	268,985	-	3,612	75,576	348,173
Net book value
At 31 March 2025	1,232,135	3,750	58,314	4,414	1,298,613
At 31 March 2024	1,138,365	-	-	1,869	1,140,234

The value of land included within freehold property above and which is not depreciated is £12,473 (2024: £12,473)

Page 32

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

16.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	7,783,429
	At 31 March 2025	7,783,429

Subsidiary undertaking
The following was a subsidiary undertaking of the company:
Name	Country of incorporation	Class of shares	Holding

Lightgraphix Limited

England and Wales

Ordinary

100%

17.	Stocks
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

	Raw materials and consumables	1,781,900	1,239,725	-	-

18.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	579,433	581,690	-	-
Amounts owed by group undertakings	-	47,160	-	-
Other debtors	333,035	650	-	-
Prepayments and accrued income	266,487	196,789	19,044	2,531
Deferred taxation	-	-	12,741	-
	1,178,955	826,289	31,785	2,531

Page 33

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

19.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	2,202,224	2,287,522	148,837	185,030
	2,202,224	2,287,522	148,837	185,030

20.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Trade creditors	912,309	624,718	-	-
Amounts owed to group undertakings	-	-	772,727	563,844
Corporation tax	8,777	157,045	8,777	31,832
Other taxation and social security	121,684	170,421	37,561	23,192
Other creditors	39,155	32,339	-	-
Accruals and deferred income	1,857,113	1,150,479	6,030	5,535
	2,939,038	2,135,002	825,095	624,403

21.	Deferred taxation
	Group

	2025	2024
	£	£

At beginning of year	(48,980)	(36,245)
Charged to profit or loss	27,003	(12,735)
At end of year	(21,977)	(48,980)

Page 34

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

21.Deferred taxation (continued)

	Company

	2025	2024
	£	£

At beginning of year	(106)	(106)
Charged to profit or loss	12,847	-
At end of year	12,741	(106)

The provision for deferred taxation is made up as follows:
	Group	Group	Company	Company
	2025	2024	2025	2024
	£	£	£	£

	Deferred tax	(21,977)	(48,980)	12,741	(106)
		(21,977)	(48,980)	12,741	(106)

22.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

0 (2024 - 16,000) Ordinary shares of £1.00 each	-	16,000
64,000 (2024 - 64,000) Ordinary A shares of £1.00 each	64,000	64,000
64,000 (2024 - 64,000) Ordinary B shares of £1.00 each	64,000	64,000
8,000 (2024 - 8,000) Ordinary C shares of £1.00 each	8,000	8,000
8,000 (2024 - 8,000) Ordinary D shares of £1.00 each	8,000	8,000

	144,000	160,000

During the year, 16,000 Ordinary shares of £1 were bought back by the company for £600,000.

23.	Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £213,610 (2024: £276,025). Contributions totalling £27,137 (2023: £22,355) were payable to the fund at the balance sheet date and are included in other creditors.

Page 35

LGX HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

24.	Commitments under operating leases
	At 31 March 2025 the Group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2025	2024
		£	£

Land and buildings
Not later than 1 year	119,332	86,998
Later than 1 year and not later than 5 years	141,750	78,832
	261,082	165,830

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£

Other
Not later than 1 year	20,110	4,354	20,110	4,354
Later than 1 year and not later than 5 years	30,165	-	30,165	-
	50,275	4,354	50,275	4,354

25.	Related party transactions
	During the year the group paid dividends of £74,860 (2024: £566,092) to the directors.

26.	Controlling party

The company is not controlled by any one party.

Page 36