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REGISTERED NUMBER: 13198327 (England and Wales)

| GROUP STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31ST MARCH 2025 |

| FOR |

| HVSS GROUP LIMITED |

| PREVIOUSLY KNOWN AS |

| CM NETWORX LIMITED |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 6 |

| Report of the Independent Auditors | 8 |

| Consolidated Income Statement | 12 |

| Consolidated Other Comprehensive Income | 13 |

| Consolidated Balance Sheet | 14 |

| Company Balance Sheet | 15 |

| Consolidated Statement of Changes in Equity | 16 |

| Company Statement of Changes in Equity | 17 |

| Consolidated Cash Flow Statement | 18 |

| Notes to the Consolidated Cash Flow Statement | 19 |

| Notes to the Consolidated Financial Statements | 20 |

| HVSS GROUP LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

| DIRECTORS: | CK Beattie

| MJ Buckby

| REGISTERED OFFICE: | Forest House 2 Riley Road

| Telford Way Industrial Estate

| Kettering

| Northamptonshire

| NN16 8NN

| REGISTERED NUMBER: | 13198327 (England and Wales)

| AUDITORS: | Bewers Turner & Co LLP

| Chartered Accountants & Statutory Auditor

| Portland House

| 11-13 Station Road

| Kettering

| Northamptonshire

| NN15 7HH

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31ST MARCH 2025

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

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS

The group comprises HVSS Group Limited (the parent company), High Voltage Systems and Services (HVSS, the main trading subsidiary), CMS Kettering Limited (a property management company) and CMS Networx Limited (a dormant subsidiary). During the year the group launched its website, presenting HVSS Group as an umbrella organisation delivering a quality end-to-end service across the UK. The move emphasises the group's ability to connect specialist expertise across all mechanical and electrical disciplines and to provide nationwide coverage.

HVSS Group is building a portfolio of businesses that share our values and contribute to growth, guided by the following criteria:

- Acquiring likeminded and related businesses that add value to what we do at HVSS.

- Addition of businesses with complementary service offerings to diversify and strengthen the overall service offering, helping us offer more to our customers; a good example being AME who provide areas of expertise we don't have in house.

- Expansion of existing and new service offerings by geographical region.

Turnover for the period totalled £48.3m (year ended 31 March 2024: £36.8m), an increase of 31%. Growth was driven by expansion and retention of customers across commercial, industrial, residential, education and health sectors, and by a broader customer mix that created additional opportunities.

Gross profit margin for the period was 20.7%, a marginal decline compared with the prior year, primarily reflecting increased investment in staff to support future growth. Statutory EBITDA for the period was £6.9m (year ended 31 March 2024: £5.6m), an increase of 22.5%, driven by higher turnover and effective control of central costs.

The Group continued to invest in its team, with the average number of employees increasing to 98 (year ended 31 March 2024: 87). To support geographic growth, HVSS opened an office in the East of England in April 2025, and CMS Kettering purchased a new office in Kettering to accommodate additional staff. This new office is due to be occupied from early 2026.

Our people are integral to the Group's success. We invest in structured performance reviews, ongoing training and professional development for all employees.

We are progressing against our environmental objectives by reviewing our vehicle fleet and introducing an electric vehicle salary sacrifice scheme for employees. Two of our sites are fitted with solar, producing over 39,000 kWh of electricity per year.

Health and safety underpins all our operations. Continued vigilance and active participation from every colleague ensures that work is carried out safely at all times. Our safety programme includes regular site inspections, toolbox talks, and mandatory training and competency checks for everyone who works on or visits our sites.

On 9 April 2025, HVSS Group acquired 100% of the share capital of AM Electrics (Renewables) Limited ("AME"), an electrical contracting business based in the East of England. This acquisition strengthens our capabilities in renewable installation and maintenance, supporting our ambition to offer a broader, smarter service offering across the sector. Together with our multi-utility capability under the HVSS brand, we now offer a wider solution from concept through to the end user, coupled with an ongoing maintenance package.

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31ST MARCH 2025

STREAMLINE ENERGY AND CARBON REPORTING

Methodology

The methodology used to determine emissions and energy consumption for the purposes of SECR reporting is based on the Green House Gas Protocol Corporate Standard Emissions have been calculated using the UK Government's GHG Conversion Factors for 2024 and 2025. Energy data has been sourced from utility bills, fuel cards, and internal records. Scope 1, 2 and 3 emissions are reported in accordance with the GHG Protocol Corporate Standard.

Energy Efficient Actions

During the year we introduced and encouraged staff to take up an electric car through a new salary sacrifice scheme, Tusker. Furthermore, we have solar installed across all group owned properties.

| 2025 |  | 2024 |

Emissions and energy use |  | kWh |  | kWh |

Scope 1 Energy consumption from gas |  | 36,030 |  | 32,280 |

Scope 1 Energy consumption from transpor t |  | 797,273 |  | 626,231 |

Scope 2 Energy consumption from electricity |  | 44,948 |  | 51,451 |

Scope 3 Energy consumption from business travel in rental or employee-owned vehicles |  | 303,881 |  | 274,928 |

| 1,182,132 |  | 984,890 |

| 2025 |  | 2024 |

Emissions |  | (tCO2e) |  | (tCO2e) |

Scope 1 Energy consumption from gas |  | 6.59 |  | 5.90 |

Scope 1 Energy consumption from transport |  | 206.63 |  | 158.75 |

Scope 2 Energy consumption from electricity |  | 7.96 |  | 10.65 |

Scope 3 Energy consumption from business travel in rental or employee-owned vehicles |  | 74.33 |  | 66.59 |

| 295.51 |  | 241.89 |

Intensity Ratios |  | 2025 |  | 2024 |

Total tCO2 Emissions to sales (£m)* |  | 6.125 |  | 6.577 |

*Using High Voltage Systems and Services Limited sales of £48.25m (FY23/24: £36.78m). |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31ST MARCH 2025

PRINCIPAL RISKS AND UNCERTAINTIES OF THE GROUP

The management and execution of the group's strategy are subject to a number of risks and uncertainties. The principal risks and uncertainties facing the group are:

Regulatory

The group operates in a mature, regulated marketplace and monitors regulatory developments that could affect the business. The directors are not currently aware of any proposed changes that would materially alter the regulatory framework in which the Group operates.

Compliance

The group operates a comprehensive Safety, Health, Environmental and Quality (SHEQ) framework designed to minimise risk to employees, customers, the public, and the environment. The Group has an established track record and a culture of continuous improvement in these areas. HVSS holds ISO 9001, ISO 14001 and ISO 45001 certifications and maintains required Lloyd's accreditations (NERS, GIRS and WIRS) to support its operations. Business opportunities are reviewed against accreditation requirements to ensure alignment with client expectations.

Credit and cashflow risk

The group is exposed to credit and cashflow risk. This exposure is mitigated by a broad client base, sector diversification and controls over payment profiles. The Group applies credit management processes to reduce the risk of client default to a manageable level and maintains active cashflow monitoring across the business.

Price risk

The group's principal price risk arises from increases in purchase costs from key suppliers. This risk is mitigated through active monitoring of purchase prices and material availability, and by making procurement decisions to optimise cost and delivery. The Group has launched a procurement improvement project to enhance pricing outcomes and supply resilience.

KEY PERFORMANCE INDICATORS

The directors consider the group's principal financial performance indicators to be turnover, gross profit margin, EBITDA and turnover secured but not yet delivered. These measures together communicate the financial performance and strength of the Group and are discussed in the Business Review above.

The group's main non-financial key performance indicators focus on people, since recruiting and retaining the right talent is critical to delivering our strategy and realising recent investments. The average number of employees increased year-on-year, and the group now employs over 100 colleagues across its businesses, the highest level in our history. These workforce metrics are tracked alongside training, safety and retention indicators to measure the effectiveness of our people-based investments

Our Values

Dedication

We show other appreciation and trust by being authentic and genuine through our actions and behaviours.

We focus on a healthy work life balance where everybody is responsible for looking after each other. We take time to recover and look after our mental wellbeing.

We actively seek feedback from our customers and take responsibility to strive for excellence.

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31ST MARCH 2025

Proud

We operate a business where trust, honesty, compassion and fairness are the key foundations of our culture.

We deliver on our promises and take accountability for our actions.

We care and we are ambassadors of our company. We develop great people who nurture our relationships internally and externally.

Confident

We strive to exceed our performance, demonstrating resilience and perseverance and take responsibility for our work and behaviour.

We ensure we have a safe workplace or worksite to avoid accidents and comply with the HSE regulation.

We plan and analyse efficiently to develop solutions. We use experience and lessons learned from the past and ask others about their approach to similar problems.

Committed

By being imaginative when thinking about the future and understanding our responsibility to make a positive change.

We are open to change and committed to new opportunities within the industry. We embrace new technologies and ideas to take our business into the future.

We strive for continuous improvement and we try to do things better.

SECTION 172(1) STATEMENT

The directors have a duty to promote the success of the company by collectively and individually acting in good faith and in a way that is thought best to achieve this outcome. In doing so, the directors consider and favour long term objectives over short term goals but remain always ready to deal with urgent issues as they arise. The directors' approach is very "hands on" and they obtain information about the company's activities and performance from a pool of resources, not least from the company's talented and valued employees.

ON BEHALF OF THE BOARD:

CK Beattie - Director

13th November 2025

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

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.

CHANGE OF NAME

The group passed a special resolution on 27th March 2025 changing its name from CM Networx Limited to HVSS Group Limited.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of an independent connections provider of electricity, gas and water utility services with the additional capability to carry out private high voltage electrical installations with ongoing inspection and maintenance services.

DIVIDENDS

The total distribution of dividends for the year ended 31st March 2025 will be £ 144,800 .

DIRECTORS

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

CK Beattie

MJ Buckby

DISCLOSURE IN THE STRATEGIC REPORT

The report of the directors should be read in conjunction with the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, 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;

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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.

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2025

AUDITORS

The auditors, Bewers Turner & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

MJ Buckby - Director

13th November 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

HVSS GROUP LIMITED

Opinion

We have audited the financial statements of HVSS Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 Group Strategic Report and 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

HVSS GROUP LIMITED

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 Directors 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 Directors 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 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, 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

HVSS GROUP LIMITED

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:

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the Group and Parent Company and determined that the most significant are those that relate to the reporting framework (Financial Reporting Standard 102 and the Companies Act 2006) and the relevant direct and indirect tax compliance regulation in the United Kingdom. In addition, the Group and Parent Company has to comply with laws and regulations relating to its operations and health and safety.

- We understood how the Group and Parent Company is complying with those frameworks by making enquiries of management to understand how the Group and Parent Company maintains and communicates its policies and procedures in these areas, and corroborated this by reviewing supporting documentation.

- We assessed the susceptibility of the Group and Parent Company's financial statements to material misstatement, including how fraud might occur by considering the risk of management override and determining revenue to be a fraud risk. We tested transactions identified back to independent evidence or source documentation. We obtained third party confirmations directly from the Group and Parent Company's banking partners to verify the cash held at the balance sheet date and the completeness of any commitments or contingencies.

- Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved review of documentation, testing of specific journals identified based upon risk criteria and enquiries of management for correspondence with the relevant authorities.

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

HVSS GROUP LIMITED

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.

Paul Bewers BSc FCA (Senior Statutory Auditor)

for and on behalf of Bewers Turner & Co LLP

Chartered Accountants & Statutory Auditor

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

13th November 2025

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

CONSOLIDATED

INCOME STATEMENT

FOR THE YEAR ENDED 31ST MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 48,273,241 |  | 36,800,639 |  |

Cost of sales | 38,267,749 |  | 28,297,143 |  |

GROSS PROFIT | 10,005,492 |  | 8,503,496 |  |

Administrative expenses | 3,594,613 |  | 3,324,406 |  |

6,410,879 |  | 5,179,090 |  |

Other operating income | 11,480 |  | - |  |

OPERATING PROFIT | 5 | 6,422,359 |  | 5,179,090 |  |

Interest receivable and similar income | 257,785 |  | 168,487 |  |

6,680,144 |  | 5,347,577 |  |

Interest payable and similar expenses | 6 | 6,408 |  | 3 |  |

PROFIT BEFORE TAXATION | 6,673,736 |  | 5,347,574 |  |

Tax on profit | 7 | 1,755,357 |  | 1,461,834 |  |

PROFIT FOR THE FINANCIAL YEAR | 4,918,379 |  | 3,885,740 |  |

Profit attributable to:

Owners of the parent | 4,918,379 |  | 3,885,740 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

CONSOLIDATED

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31ST MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 4,918,379 |  | 3,885,740 |  |

OTHER COMPREHENSIVE INCOME |

Deferred tax movement | 14,880 |  | - |  |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 14,880 |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 4,933,259 |  | 3,885,740 |  |

Total comprehensive income attributable to:

Owners of the parent | 4,933,259 |  | 3,885,740 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

CONSOLIDATED BALANCE SHEET

31ST MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 2,799,292 |  | 2,933,658 |  |

Tangible assets | 11 | 2,291,546 |  | 2,008,644 |  |

Investments | 12 | - |  | - |  |

Investment property | 13 | 262,500 |  | 262,500 |  |

5,353,338 |  | 5,204,802 |  |

CURRENT ASSETS

Stocks | 14 | 431,430 |  | 545,585 |  |

Debtors | 15 | 17,699,627 |  | 13,293,349 |  |

Cash at bank and in hand | 21,269,418 |  | 14,013,779 |  |

39,400,475 |  | 27,852,713 |  |

CREDITORS

Amounts falling due within one year | 16 | 24,615,963 |  | 17,753,790 |  |

NET CURRENT ASSETS | 14,784,512 |  | 10,098,923 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 20,137,850 |  | 15,303,725 |  |

PROVISIONS FOR LIABILITIES | 17 | 268,750 |  | 218,794 |  |

NET ASSETS | 19,869,100 |  | 15,084,931 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 4,300,100 |  | 4,300,100 |  |

Revaluation reserve | 19 | 111,152 |  | 96,272 |  |

Fair value reserve | 19 | 6,850 |  | 5,137 |  |

Retained earnings | 19 | 15,450,998 |  | 10,683,422 |  |

SHAREHOLDERS' FUNDS | 19,869,100 |  | 15,084,931 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 13th November 2025 and were signed on its behalf by:

MJ Buckby - Director

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

COMPANY BALANCE SHEET

31ST MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | - |  | - |  |

Investments | 12 | 6,483,100 |  | 6,483,100 |  |

Investment property | 13 | - |  | - |  |

6,483,100 |  | 6,483,100 |  |

CURRENT ASSETS

Debtors | 15 | 7,443,773 |  | 4,294,379 |  |

Cash at bank and in hand | 18,393,383 |  | 7,771,196 |  |

25,837,156 |  | 12,065,575 |  |

CREDITORS

Amounts falling due within one year | 16 | 18,696,221 |  | 8,821,921 |  |

NET CURRENT ASSETS | 7,140,935 |  | 3,243,654 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 13,624,035 |  | 9,726,754 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 4,300,100 |  | 4,300,100 |  |

Retained earnings | 19 | 9,323,935 |  | 5,426,654 |  |

SHAREHOLDERS' FUNDS | 13,624,035 |  | 9,726,754 |  |

Company's profit for the financial year | 4,042,081 |  | 2,528,517 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 13th November 2025 and were signed on its behalf by:

MJ Buckby - Director

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31ST MARCH 2025

| Called up |  | Fair |

| share |  | Retained |  | Revaluation |  | value |  | Total

| capital |  | earnings |  | reserve |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1st April 2023 | 4,300,100 |  | 6,942,482 |  | 96,272 |  | 5,137 |  | 11,343,991 |  |

Changes in equity

Dividends | - |  | (144,800 | ) | - |  | - |  | (144,800 | ) |

Total comprehensive income | - |  | 3,885,740 |  | - |  | - |  | 3,885,740 |  |

Balance at 31st March 2024 | 4,300,100 |  | 10,683,422 |  | 96,272 |  | 5,137 |  | 15,084,931 |  |

Changes in equity

Dividends | - |  | (144,800 | ) | - |  | - |  | (144,800 | ) |

Total comprehensive income | - |  | 4,918,379 |  | 14,880 |  | - |  | 4,933,259 |  |

Deferred tax movement | - |  | (6,003 | ) | - |  | 1,713 |  | (4,290 | ) |

Balance at 31st March 2025 | 4,300,100 |  | 15,450,998 |  | 111,152 |  | 6,850 |  | 19,869,100 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31ST MARCH 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1st April 2023 | 4,300,100 |  | 3,042,937 |  | 7,343,037 |  |

Changes in equity

Dividends | - |  | (144,800 | ) | (144,800 | ) |

Total comprehensive income | - |  | 2,528,517 |  | 2,528,517 |  |

Balance at 31st March 2024 | 4,300,100 |  | 5,426,654 |  | 9,726,754 |  |

Changes in equity

Dividends | - |  | (144,800 | ) | (144,800 | ) |

Total comprehensive income | - |  | 4,042,081 |  | 4,042,081 |  |

Balance at 31st March 2025 | 4,300,100 |  | 9,323,935 |  | 13,624,035 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 9,274,157 |  | (62,543 | ) |

Interest paid | (6,408 | ) | (3 | ) |

Tax paid | (1,539,657 | ) | (1,270,390 | ) |

Net cash from operating activities | 7,728,092 |  | (1,332,936 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (650,438 | ) | (444,516 | ) |

Sale of tangible fixed assets | 65,000 |  | 44,499 |  |

Interest received | 257,785 |  | 168,487 |  |

Net cash from investing activities | (327,653 | ) | (231,530 | ) |

Cash flows from financing activities

Equity dividends paid | (144,800 | ) | (144,800 | ) |

Net cash from financing activities | (144,800 | ) | (144,800 | ) |

Increase/(decrease) in cash and cash equivalents | 7,255,639 |  | (1,709,266 | ) |

Cash and cash equivalents at beginning of year | 2 | 14,013,779 |  | 15,723,045 |  |

Cash and cash equivalents at end of year | 2 | 21,269,418 |  | 14,013,779 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MARCH 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 6,673,736 |  | 5,347,574 |  |

| Depreciation charges | 420,776 |  | 405,065 |  |

| Loss on disposal of fixed assets | 16,126 |  | 14,522 |  |

| Finance costs | 6,408 |  | 3 |  |

| Finance income | (257,785 | ) | (168,487 | ) |

6,859,261 |  | 5,598,677 |  |

| Decrease/(increase) in stocks | 114,155 |  | (196,335 | ) |

| Increase in trade and other debtors | (4,406,278 | ) | (3,882,014 | ) |

| Increase/(decrease) in trade and other creditors | 6,707,019 |  | (1,582,871 | ) |

| Cash generated from operations | 9,274,157 |  | (62,543 | ) |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31st March 2025

| 31/3/25 |  | 1/4/24

£ | £ |

| Cash and cash equivalents | 21,269,418 |  | 14,013,779 |  |

| Year ended 31st March 2024

| 31/3/24 |  | 1/4/23

£ | £ |

| Cash and cash equivalents | 14,013,779 |  | 15,723,045 |  |

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 | 14,013,779 |  | 7,255,639 |  | 21,269,418 |  |

14,013,779 |  | 7,255,639 |  | 21,269,418 |  |

| Total | 14,013,779 |  | 7,255,639 |  | 21,269,418 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

1. | STATUTORY INFORMATION

| HVSS 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Basis of consolidation

| The acquisition of High Voltage Systems and Services Limited, CMS Kettering Limited, and CMS Networx Limited are accounted for under the acquisition method after first making adjustments to the fair value of assets and liabilities acquired. Any difference between the fair value of consideration paid and the fair value of net assets acquired is capitalised as goodwill on consolidation. The results of these subsidiaries are included in the profit and loss account only from the date control passed to HVSS Group Limited.

| Significant judgements and estimates

| In the application of the company's accounting policies management are required to make judgements, estimates and assumptions about carrying values 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 relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

| The following are key areas of significant judgement:

| -The recognition of revenue of installation contracts, further explained in the "revenue and income recognition" accounting policy, below.

| -The market values and depreciable amounts of the properties.

| -The expected useful economic life of goodwill.

| There are no other significant judgements which have a significant effect on the amounts recognised in the financial statements and the company has made no other significant estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

| Turnover

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

| Goodwill

| The goodwill arises on the consolidation of the group and is being amortised over an estimated useful economic life of twenty five years.

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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 | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance and 5% on cost

| Motor vehicles | - | 25% on reducing balance

| Tangible fixed assets are stated at cost or revalued amount less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Investment property

| Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

| Stocks

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

| Financial instruments

| The company is party to only the basic financial instruments such as cash, trade debtors and trade creditors. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment.

| 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.

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Income recognition

| Installation contracts have a number of major and minor components, often with different end customers. The directors group together components that are so closely linked that their commercial effect cannot be fully understood if they were reported on separately. This includes components that may not be realised until some years after the major contract work has been completed. Contracts are billed in advance for materials and then periodically as the work progresses. Where amounts billed exceed the value of the work done, the directors defer revenue within "deferred income". Unbilled work is included within "Amounts recoverable on contracts". The value of work done is assessed by the directors and the project management team, this requires a significant area of judgement on the directors' part.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 5,602,080 |  | 4,674,320 |  |

| Social security costs | 652,175 |  | 528,761 |  |

| Other pension costs | 234,992 |  | 203,454 |  |

6,489,247 |  | 5,406,535 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Directors | 2 |  | 2 |  |

| Technical and operations | 45 |  | 41 |  |

| Sales and administration | 51 |  | 44 |  |

98 |  | 87 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 43,200 |  | 41,700 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 1 |  | 1 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 286,410 |  | 270,698 |  |

| Loss on disposal of fixed assets | 16,126 |  | 14,522 |  |

| Goodwill amortisation | 134,366 |  | 134,366 |  |

| Auditors' remuneration | 18,000 |  | 18,000 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Other interest | 6,408 |  | 3 |  |

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 1,694,811 |  | 1,417,227 |  |

| Deferred tax | 60,546 |  | 44,607 |  |

| Tax on profit | 1,755,357 |  | 1,461,834 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 6,673,736 |  | 5,347,574 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 1,668,434 |  | 1,336,894 |  |

| Effects of:

| Permanent differences | 87,757 |  | 125,447 |  |

| Effect of different tax rates | (834 | ) | (507 | ) |

| Total tax charge | 1,755,357 |  | 1,461,834 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

7. | TAXATION - continued

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Deferred tax movement | 14,880 |  | - |  | 14,880 |  |

8. | 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.

9. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| ordinary shares of £1 each |

| Interim | 144,800 |  | 144,800 |  |

10. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 3,359,150 |  |

| AMORTISATION

| At 1st April 2024 | 425,492 |  |

| Amortisation for year | 134,366 |  |

| At 31st March 2025 | 559,858 |  |

| NET BOOK VALUE

| At 31st March 2025 | 2,799,292 |  |

| At 31st March 2024 | 2,933,658 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

11. | TANGIBLE FIXED ASSETS

| Group

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1st April 2024 | 1,152,429 |  | 42,409 |  | 302,032 |  | 884,166 |  | 2,381,036 |  |

| Additions | - |  | 29,696 |  | 97,049 |  | 523,693 |  | 650,438 |  |

| Disposals | - |  | - |  | (20,649 | ) | (136,450 | ) | (157,099 | ) |

| At 31st March 2025 | 1,152,429 |  | 72,105 |  | 378,432 |  | 1,271,409 |  | 2,874,375 |  |

| DEPRECIATION

| At 1st April 2024 | 42,773 |  | 17,602 |  | 87,782 |  | 224,235 |  | 372,392 |  |

| Charge for year | 30,739 |  | 9,792 |  | 49,577 |  | 196,302 |  | 286,410 |  |

| Eliminated on disposal | - |  | - |  | (17,772 | ) | (58,201 | ) | (75,973 | ) |

| At 31st March 2025 | 73,512 |  | 27,394 |  | 119,587 |  | 362,336 |  | 582,829 |  |

| NET BOOK VALUE

| At 31st March 2025 | 1,078,917 |  | 44,711 |  | 258,845 |  | 909,073 |  | 2,291,546 |  |

| At 31st March 2024 | 1,109,656 |  | 24,807 |  | 214,250 |  | 659,931 |  | 2,008,644 |  |

| The value of the properties are not materially different to the independent valuation undertaken in June 2023.

| Cost or valuation at 31st March 2025 is represented by:

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| Valuation in 2023 | 80,849 |  | - |  | - |  | - |  | 80,849 |  |

| Cost | 1,071,580 |  | 72,105 |  | 378,432 |  | 1,271,409 |  | 2,793,526 |  |

1,152,429 |  | 72,105 |  | 378,432 |  | 1,271,409 |  | 2,874,375 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

12. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 6,483,100 |  |

| NET BOOK VALUE

| At 31st March 2025 | 6,483,100 |  |

| At 31st March 2024 | 6,483,100 |  |

| At the balance sheet date, the company owns 100% of the total share capital of the companies listed below. Each company has the same registered office as HVSS Group Limited:

| CMS Kettering Limited - Property management.

| CMS Networx Limited - Dormant.

| High Voltage Systems and Services Limited - Installation contractors.

13. | INVESTMENT PROPERTY

| Group

| Total

£ |

| FAIR VALUE

| At 1st April 2024

| and 31st March 2025 | 262,500 |  |

| NET BOOK VALUE

| At 31st March 2025 | 262,500 |  |

| At 31st March 2024 | 262,500 |  |

| Fair value at 31st March 2025 is represented by:

£ |

| Valuation in 2023 | 6,850 |  |

| Cost | 255,650 |  |

262,500 |  |

| The value of the property is not materially different to the independent valuation undertaken in June 2023.

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

14. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Stocks | 431,430 |  | 545,585 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 6,014,907 |  | 5,037,573 |  | - |  | - |  |

| Amounts recoverable on contract | 3,828,166 |  | 3,682,664 |  | - |  | - |  |

| Other debtors | 1,452,118 |  | 3,025 |  | 1,449,719 |  | 325 |  |

| Directors' loan accounts | 5,994,054 |  | 4,294,054 |  | 5,994,054 |  | 4,294,054 |  |

| Prepayments and accrued income | 410,382 |  | 276,033 |  | - |  | - |  |

17,699,627 |  | 13,293,349 |  | 7,443,773 |  | 4,294,379 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade creditors | 3,475,509 |  | 3,448,520 |  | - |  | - |  |

| Deferred income | 18,785,580 |  | 12,942,707 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 18,642,168 |  | 8,785,888 |  |

| Corporation tax | 807,399 |  | 652,245 |  | 54,053 |  | 36,033 |  |

| PAYE and NIC | 183,291 |  | 150,211 |  | - |  | - |  |

| VAT | 834,545 |  | 363,694 |  | - |  | - |  |

| Other creditors | 106,036 |  | 89,260 |  | - |  | - |  |

| Pension creditor | - |  | 28,998 |  | - |  | - |  |

| Accruals | 423,603 |  | 78,155 |  | - |  | - |  |

24,615,963 |  | 17,753,790 |  | 18,696,221 |  | 8,821,921 |  |

17. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax | 268,750 |  | 218,794 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

17. | PROVISIONS FOR LIABILITIES - continued

| Group

| Deferred |

| tax |

£ |

| Balance at 1st April 2024 | 218,794 |  |

| Charge to Income Statement during year | 49,956 |  |

| Balance at 31st March 2025 | 268,750 |  |

| Deferred tax consists of liabilities in respect of fixed asset timing differences.

18. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 100 | ordinary | £1 | 100 |  | 100 |  |

| 4,300,000 | Non Redeemable Preference | £1 | 4,300,000 |  | 4,300,000 |  |

4,300,100 |  | 4,300,100 |  |

| The ordinary shares have full voting and dividend rights.

| The preference shares have no voting or dividend rights and preference over the ordinary shares on winding up.

19. | RESERVES

| Group

| Fair |

| Retained |  | Revaluation |  | value |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1st April 2024 | 10,683,422 |  | 96,272 |  | 5,137 |  | 10,784,831 |  |

| Profit for the year | 4,918,379 |  | 4,918,379 |  |

| Dividends | (144,800 | ) | (144,800 | ) |

| Deferred tax movement | - |  | 14,880 |  | - |  | 14,880 |  |

| Deferred tax movement | (6,003 | ) | - |  | 1,713 |  | (4,290 | ) |

| At 31st March 2025 | 15,450,998 |  | 111,152 |  | 6,850 |  | 15,569,000 |  |

| HVSS GROUP LIMITED (REGISTERED NUMBER: 13198327) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

19. | RESERVES - continued

| Company

| Retained

| earnings

£ |

| At 1st April 2024 | 5,426,654 |  |

| Profit for the year | 4,042,081 |  |

| Dividends | (144,800 | ) |

| At 31st March 2025 | 9,323,935 |  |

| Retained earnings

| Retained earnings represents cumulative profits net of dividends paid.

| Revaluation reserve

| Includes cumulative unrealised gains and losses net of deferred tax on the revaluation of property.

| Fair value reserve

| Includes cumulative unrealised gains and losses net of deferred tax on the revaluation of the investment property.

20. | PENSION COMMITMENTS

| The group operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £235,622 (2024: £204,084).

21. | ULTIMATE PARENT COMPANY

| HVSS Group Limited is the ultimate parent company of the group.

22. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| At the balance sheet date, CK Beattie owed the company £2,999,077 (2024: £2,099,077) and MJ Buckby owed the company £2,994,977 (2024: £2,194,977). No interest is charged on the loans and there are no set terms for repayment.

23. | ULTIMATE CONTROLLING PARTY

| CK Beattie and MJ Buckby are the ultimate controlling party.