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REGISTERED NUMBER: 09588256 (England and Wales)

FHORTHO LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2024 TO 30 SEPTEMBER 2025

| FHORTHO LIMITED (REGISTERED NUMBER: 09588256) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| FHORTHO LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2025

| DIRECTOR: | B E Scialom

| REGISTERED OFFICE: | Unit 1B

| Century Park

| Valley Way

| Swansea

| Wales

| SA6 8RP

| REGISTERED NUMBER: | 09588256 (England and Wales)

| AUDITORS: | Bevan Buckland Audit Ltd (Statutory Auditors)

| Ground Floor Cardigan House

| Castle Court

| Swansea Enterprise Park

| Swansea

| SA7 9LA

| FHORTHO LIMITED (REGISTERED NUMBER: 09588256) |

BALANCE SHEET

30 SEPTEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | - |  | 19,984 |  |

CURRENT ASSETS

Stocks | - |  | 286,512 |  |

Debtors | 5 | - |  | 538,769 |  |

Cash at bank | - |  | 172,675 |  |

- |  | 997,956 |  |

CREDITORS

Amounts falling due within one year | 6 | - |  | 1,797,602 |  |

NET CURRENT LIABILITIES | - |  | (799,646 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | - |  | (779,662 | ) |

CAPITAL AND RESERVES

Called up share capital | 200,000 |  | 200,000 |  |

Retained earnings | (200,000 | ) | (979,662 | ) |

SHAREHOLDERS' FUNDS | - |  | (779,662 | ) |

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 April 2026 and were signed by:

B E Scialom - Director

| FHORTHO LIMITED (REGISTERED NUMBER: 09588256) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2025

1. | STATUTORY INFORMATION

| Fhortho 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going concern

| The directors have taken the decision to wind down the activities of the company and to transfer its distribution contract to its parent company in France as at 1st October 2024. The financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover represents the fair value of consideration received or receivable for the sale of goods, excluding discounts, rebates, value added tax, and other sales taxes.

| The company generates income from the sale of medical stock items, which are either supplied directly from its warehouse or placed on consignment at hospitals.

| Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, which occurs at the point when a hospital confirms the use of consignment stock, or when goods are dispatched from the warehouse and received by the customer. Invoices are typically raised on receipt of a purchase order from the hospital confirming usage, or when discrepancies are identified in stock returned from consignment.

| Tangible fixed assets

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

| Plant & Machinery etc - Over 5 years.

| Computer Equipment - 33% on cost.

| Stocks

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

| Taxation

| Taxation for the period comprises current and deferred tax. Tax is recognised in the 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| FHORTHO LIMITED (REGISTERED NUMBER: 09588256) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

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

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

| Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

| Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| FHORTHO LIMITED (REGISTERED NUMBER: 09588256) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Classification of 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 company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| 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 company after deducting all of its liabilities.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was NIL (2024 - 2 ).

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 April 2024 | 106,867 |  |

| Disposals | (106,867 | ) |

| At 30 September 2025 | - |  |

| DEPRECIATION

| At 1 April 2024 | 86,883 |  |

| Charge for period | 2,958 |  |

| Eliminated on disposal | (89,841 | ) |

| At 30 September 2025 | - |  |

| NET BOOK VALUE

| At 30 September 2025 | - |  |

| At 31 March 2024 | 19,984 |  |

| FHORTHO LIMITED (REGISTERED NUMBER: 09588256) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | - |  | 538,374 |  |

| Other debtors | - |  | 395 |  |

- |  | 538,769 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | - |  | 1,425,467 |  |

| VAT | - |  | 13,283 |  |

| Other creditors | - |  | 341,930 |  |

| Accrued expenses | - |  | 16,922 |  |

- |  | 1,797,602 |  |

7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was qualified on the following basis:

| Basis for disclaimer of opinion

| We were unable physically verify large amounts of stock in 2024 due to many of them being held at different sites that we were not able to access. We were unable to satisfy ourselves by alternative means concerning the inventory quantities of £286,512 held at 31 March 2024 by using other audit procedures. Consequently we were unable to determine whether any sales needed to be recognised or an adjustment to this amount at 31 March 2024 was necessary or whether there was any consequential effect on the cost of sales for the period ended 30 September 2025. As part of the audit testing a provision was identified that was adjusted in the period ended 30 September 2025 that related to the prior year.

| We were unable physically verify the tangible fixed assets due to many of them being held at different sites that we were not able to access. We were unable to satisfy ourselves of their net book value held in at 31 March 2024, which are stated in the statements of financial position at £19,984.

| As a result, we were unable to determine whether any adjustments might have been found necessary in respect of recorded or unrecorded inventories and accounts receivable and elements making up the profit and loss account and balance sheet.

| Matters required to report by exception

| 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:

| - |  | returns adequate for our audit have not been received from branches not visited by us; or |

| - |  | the 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 |

| - |  | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. |

| Michael Jones (Senior Statutory Auditor)

| for and on behalf of Bevan Buckland Audit Ltd (Statutory Auditors)

8. | RELATED PARTY DISCLOSURES

| During the year the company wrote off intercompany trade creditors of £845,450 .

9. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is FH ORTHO SAS by virtue of its 100% shareholding of the company's share capital.