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REGISTERED NUMBER: 15548053 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

IDSL GROUP HOLDINGS LIMITED

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 30 September 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 8 |

| Report of the Independent Auditors | 10 |

| Consolidated Statement of Comprehensive Income | 13 |

| Consolidated Statement of Financial Position | 14 |

| Company Statement of Financial Position | 15 |

| Consolidated Statement of Changes in Equity | 16 |

| Company Statement of Changes in Equity | 17 |

| Consolidated Statement of Cash Flows | 18 |

| Notes to the Consolidated Statement of Cash Flows | 19 |

| Notes to the Consolidated Financial Statements | 20 |

| IDSL GROUP HOLDINGS LIMITED |

COMPANY INFORMATION

for the year ended 30 September 2025

| DIRECTORS: | D J Bains

| A Malhan

| G Parkin

| A M Ringrose

| N R Cook

| A D Gratton

| A S Holman

| REGISTERED OFFICE: | Magma House 16 Davy Court

| Castle Mound Way

| Rugby

| United Kingdom

| Warwickshire

| CV23 0UZ

| REGISTERED NUMBER: | 15548053 (England and Wales)

| AUDITORS: | Magma Audit LLP

| Chartered Accountants

| Statutory Auditor

| Magma House, 16 Davy Court

| Castle Mound Way

| Rugby

| CV23 0UZ

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

GROUP STRATEGIC REPORT

for the year ended 30 September 2025

The directors present their strategic report of the company and the group for the year ended 30 September 2025.

REVIEW OF BUSINESS

These accounts represent the second year of trading for IDSL Group Holdings Limited.

The company serves a dual role within the Group. It provides management services to other Group entities, supporting their operational and strategic needs, while also acting as the Group's holding company. In this capacity, it manages the Group's capital structure and fulfills associated debt obligations, ensuring effective financial stewardship across the wider organisation

The Group is a compliance led business, primarily serving the healthcare, education and defence sectors, where robust safety, inspection and regulatory standards are essential. This compliance focus is supported by our world class manufacturing facilities, which produce high performance door sets and related products for a broad range of markets including residential, commercial and student accommodation, alongside our core public sector customers.

The fire door inspection and compliance market continues to expand rapidly, driven by heightened regulatory scrutiny, strengthened building safety legislation and increased demand for competent inspection providers across the UK. As one of the sector's leading specialists, the Group delivers fully accredited inspection, testing and compliance services through its dedicated teams, supporting customers in the healthcare, education, defence, residential and commercial sectors. Strong organic growth in Fire Door Inspection Solutions, where turnover increased by more than 50%, reflects both rising market expectations and the Group's reputation for technical expertise, reliability and compliance leadership.

The business has continued to deliver strong growth, with turnover increasing by 18% and EBITDA by 82%, reflecting both the expansion of our compliance services and the strength of our integrated manufacturing capability.

To support this growth, the Group opened a third manufacturing plant in Mansfield, enhancing both production capacity and the scale of our compliance training operations. This facility strengthens our ability to service customers more efficiently, provides dedicated space for advanced compliance training programmes, and further embeds Mansfield as a key operational hub for the Group.

The wider economic environment continues to influence the Group's operations, particularly through ongoing wage inflation and persistent volatility in global energy and commodity markets. Wage pressures remain elevated across the UK as employers compete for skilled labour in both manufacturing and compliance services. The Group continues to adjust salary structures to retain the specialist expertise required for fire door inspection, certification and high precision manufacturing.

Energy and commodity markets remain unpredictable, driven by geopolitical tensions and supply chain fragility. In order to mitigate this uncertainty, the Group will take the opportunity to secure fixed rates on its energy costs from time to time, providing improved cost certainty across production. This cost stability is especially important in the fire door sector, where manufacturing is energy intensive and inspection activities rely on fully accredited, controlled training environments.

Although material pricing has stabilised, the fire door market continues to face pressure on key certified components - such as cores, hardware and fire rated materials - due to tightening regulations and extended approval timelines. The Group remains proactive in managing these risks, maintaining strong supplier relationships, forward buying where appropriate and ensuring full alignment with evolving fire safety legislation and customer expectations across both inspection and manufacturing activities.

The Group refinanced part of its capital structure during the year, replacing £17.1 million of shareholder loan notes with new commercial debt provided by Lloyds Banking Group. As part of the refinancing, the Group also secured a £2 million revolving cash flow facility, along with an additional acquisition facility to support future strategic opportunities. This financing package provides enhanced flexibility, strengthens the Group's balance sheet, and ensures sufficient capacity to support continued growth and investment.

Employee numbers have increased, averaging 276 across the year.

The Group continues to prioritise cash flow to ensure efficient operations across its facilities and to finance acquisitions and capital expenditure programmes.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

GROUP STRATEGIC REPORT

for the year ended 30 September 2025

The directors monitor earnings before interest, tax, depreciation, amortisation and one-off costs (the internal EBITDA) as a key measure of performance.

The Key Performance factors are:

| 2025 |  |  | 2024* |

| '000s |  |  | '000s |

Turnover |  | 48,395 |  |  | 15,431 |

Gross Profit |  | 15,784 |  |  | 4,616 |

Internal EBITDA |  | 8,293 |  |  | 6,405 |

Financial statement EBITDA |  | 8,343 |  |  | 3,090 |

Non-financial KPI |  |

Employee Numbers |  | 344 |  |  | 317 |

* represents the period from 8 March 2024 to 30 September 2024.

The group had net current assets of £3,120,000 (2024: £1,848,000) and net assets of £215,000 (2024: net liabilities £420,000). For the period ended 30 September 2025 the group made a profit after tax of £440,000 (2024: £795,000).

The company had net current liabilities of £1,507,000 (2024: £1,308,000) and net assets of £1,824,000 (2024: £393,000). For the period ended 30 September 2025 the company made a loss after tax of £2,412,000 (2024: Profit after tax £18,000).

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

GROUP STRATEGIC REPORT

for the year ended 30 September 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The Group operates within the wider construction and built environment sector, with a particular focus on fire door manufacturing, inspection and compliance services. Increasing regulatory scrutiny, heightened building safety standards and mandatory inspection regimes create a favourable long term market. However, these same factors introduce a number of operational and strategic risks that the Group continually monitors and manages.

Regulatory and Compliance Risk

The fire door sector is subject to stringent and frequently evolving legislation, driven by the Building Safety Act, updated fire safety regulations and increased oversight from regulators, insurers and responsible persons. These changes affect both inspection methodology and the certified materials that must be used in manufacturing.

The Group mitigates this risk by maintaining accredited inspection teams, investing in compliance training facilities, and ensuring manufacturing processes continuously meet or exceed regulatory standards. Regular engagement with certification bodies ensures ongoing alignment with industry expectations. The Group maintains various third-party accreditations and is subject to regular audits to verify that we are meeting the latest regulations.

Supply Chain Dependence and Material Certification

Fire door manufacturing relies on certified, fully tested components - including core materials, hardware, seals and glazing systems - many of which require third party approvals and have limited supplier pools. Disruption in these supply chains, whether through availability constraints or certification delays, could impact production continuity.

Risks are mitigated by expanding the approved supplier base, procuring materials primarily in Sterling, maintaining strategic stockholding, and forward buying where appropriate. Strong supplier relationships and active monitoring of component approval cycles further reduce exposure.

Labour Availability and Skills Shortages

Both the inspection and manufacturing sides of the business rely on specialist skills - from qualified fire door inspectors to trained manufacturing technicians. The UK labour market remains tight, and competition for skilled personnel continues to drive wage inflation.

To address this, the Group invests in structured training programmes (supported by the new Mansfield facility), develops internal career pathways, and enhances recruitment and retention initiatives to ensure a resilient and adaptable workforce.

Cost Pressures and Commodity Volatility

While commodity markets remain volatile, the Group has secured lower energy and commodity costs in FY25 compared with FY24, providing cost stability across operations. However, underlying volatility in timber products, engineered cores and approved hardware components persists due to global supply constraints and regulatory demands.

Close market monitoring, flexible procurement strategies and diversified sourcing help limit exposure to cost shocks.

Customer and Sector Concentration

A significant proportion of inspection and manufacturing activity serves public sector and institutional clients in education, healthcare and defence. Budget cycles, capital project deferrals and shifts in public sector spending could influence demand levels.

The Group mitigates this through a widening customer base, ongoing penetration into commercial and residential sectors, and maintaining strong frameworks and accreditations that support long term demand.

Credit and Liquidity Risk

The Group continues to closely monitor customer liquidity to reduce the risk of bad debts. Working with credit rating agencies and undertaking regular financial assessments enables the early identification of elevated risk within the customer portfolio.

This disciplined approach has contributed to consistently low levels of bad debt losses since the Group's formation.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

GROUP STRATEGIC REPORT

for the year ended 30 September 2025

BUSINESS ENVIRONMENT

The Group operates within the fire safety and built environment sector, with a primary focus on fire door inspection, compliance and regulatory assurance for the healthcare, education, defence and commercial markets. Demand is underpinned by strengthened building safety legislation and increasing responsibility placed on building owners and duty holders to maintain fully compliant fire door assets throughout the lifecycle of their buildings.

Our manufacturing capability complements this compliance offering by producing certified fire doors and related products for the healthcare, education, commercial, defence and student accommodation sectors. Market expectations remain steady, with modest growth forecast, while compliance driven services continue to expand at a faster rate as regulatory standards tighten and inspection requirements increase.

FUTURE DEVELOPMENTS

The Group has entered FY26 with a strong order book and continued positive trading momentum across both fire door inspection and manufacturing. The directors anticipate further growth in turnover over the coming year, driven by increasing regulatory demand for compliant fire door inspection services and the Group's expanding presence in key sectors.

On 15 January 2026, the Group acquired Fire Doors Rite Limited, further strengthening our compliance capability and enhancing our offering within the defence sector.

The business retains significant financial headroom to support its planned investment programme and continued growth strategy. The Group is expected to remain operationally cash positive, enabling ongoing reduction of debt while maintaining investment in people, capability and infrastructure.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

GROUP STRATEGIC REPORT

for the year ended 30 September 2025

SECTION 172(1) STATEMENT

The board of directors of IDSL Group Holdings Limited, in accordance with their duties under Section 172 of the Companies Act 2006, consider that they have acted in good faith to promote the long-term success of the Group for the benefit of its shareholders as a whole. In doing so, the directors also recognise the importance of considering and engaging with a range of stakeholders and factoring in broader considerations as set out in Section 172(1)(a-f) of the Act when making decisions of strategic significance during the financial year.

The level of disclosure provided below reflects the size and complexity of the Group and the matters of greatest strategic relevance during the year.

(a) Long-Term Strategy

The Group is focused on providing fully compliant fire door inspection, maintenance and replacement services, supported by high quality, certified manufacturing capabilities. Our strategy is to position the Group as a trusted end to end compliance partner for customers operating in highly regulated sectors including healthcare, education, defence and commercial estates.

Regular management and board meetings ensure close monitoring of performance, client requirements and changes in the regulatory landscape. Investments continue to be made in compliance capability, inspection training, product testing and the development of modern operational facilities to support long term growth and industry leadership.

The Group remains committed to investing in plant, equipment and technology so that our processes, data and service offering remain aligned to the highest standards of compliance and efficiency.

(b) Engagement with Colleagues

With a workforce of 317 colleagues, attracting, developing and retaining skilled individuals remains essential to the Group's success. Directors regard colleagues as a core stakeholder group.

We maintain a positive and inclusive working environment through structured engagement channels, including:

- Colleague surveys |

- Regular Works Council meetings |

- Toolbox talks and safety briefings |

- One-to-one and team performance reviews |

- Access to a confidential employee wellbeing service |

Real time monitoring of safety reporting ensures swift action on near misses and incidents. Continued investment in training, inspection qualifications and upskilling supports career development and reinforces a culture of continuous improvement.

(c) Fostering Business Relationships with Customers, Suppliers and Others

Strong, long standing relationships with customers and suppliers are central to our compliance led operating model. Our clients include Tier 1 contractors, facilities management providers, government bodies, defence clients, private sector building owners and education providers. Many relationships span several years and are supported by regular communication, site visits, project coordination and structured feedback.

Suppliers are treated as critical partners within our value chain. We work collaboratively with them to uphold the highest standards of product quality, certification integrity and delivery reliability. Supplier performance, sustainability credentials and compliance alignment are reviewed regularly to support long term resilience.

(d) Working in Partnership with UK Regulatory Bodies

Given the essential safety role of fire doors, regulatory compliance and accreditation remain central to the Group's operations. We maintain close relationships with third party certifiers, regulatory bodies and industry standards organisations.

The Group continues to invest in fire door testing, inspection training and certification processes to ensure all manufactured products and inspection services meet evolving UK and international requirements. Accreditation through UKAS and the maintenance of ISO 9001 and other relevant standards reinforce our commitment to robust quality management.

(e) Impact on the Community and Environment

The Group seeks to minimise its environmental impact through responsible sourcing, waste reduction initiatives and investment in energy efficient equipment across its facilities. Further details are set out in the Environmental Risk section of this report.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

GROUP STRATEGIC REPORT

for the year ended 30 September 2025

We remain committed to local employment and community engagement. A significant proportion of our workforce lives within the surrounding area, and the Group continues to support apprenticeships, training programmes and skills development within the region.

(f) Maintaining a Reputation for High Standards of Business Conduct

The board is committed to maintaining high standards of business ethics and professional conduct. This is reflected in our policies and procedures, which are reviewed regularly to ensure relevance and effectiveness. Key measures include:

1. Timely tax compliance;

2. Adherence to all applicable UK laws and regulations;

3. Anti Bribery and Corruption policies;

4. A published Modern Slavery and Human Trafficking Statement;

5. Ethical Trading and Sustainability policies;

6. A confidential whistleblowing channel;

7. Regular review of Health and Safety procedures.

These initiatives are embedded into day-to-day operations and overseen by the board and senior management.

(g) Acting Fairly Between Members of the Group

The directors consider the interests of all Group members when making decisions and aim to balance shareholder interests with those of colleagues, customers, suppliers and other stakeholders. This ensures decisions support long term sustainability and responsible growth.

Closing Note

The directors remain committed to evolving our stakeholder engagement practices and decision-making processes in line with S172 principles, ensuring they support the ongoing growth, compliance, and resilience of the business.

ON BEHALF OF THE BOARD:

G Parkin - Director

31 March 2026

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

REPORT OF THE DIRECTORS

for the year ended 30 September 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the delivery of compliance led inspection, testing, and maintenance services to ensure customers meet statutory and operational requirements. The Group manufactures high performance fire rated and acoustic doorsets, together with associated joinery products, supporting both compliance activities and wider market demand.

DIVIDENDS

No dividends were distributed for the year ended 30 September 2025 (2024: none).

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

D J Bains

A Malhan

G Parkin

Other changes in directors holding office are as follows:

J C Green - resigned 16 December 2024

A M Ringrose - appointed 16 December 2024

M Salahov - appointed 16 December 2024 - resigned 28 February 2025

N R Cook , A D Gratton and A S Holman were appointed as directors after 30 September 2025 but prior to the date of this report.

FINANCIAL INSTRUMENTS

The principal financial instruments of the Group comprise bank balances and borrowings, trade creditors, trade debtors and hire purchase contracts. The main purpose of these instruments is to raise funds for the Group's operations and to finance its continuing operations. Liquidity risk is managed by the use of bank balances, invoice discounting, availability of overdraft facilities and selective use and active management of credit Insurance along with efficient monitoring and forecasting of cash flow to ensure there are sufficient funds to meet liabilities. Trade debtors are managed in respect of credit and cash flow risk by policies monitoring the credit offered to customers, and regular monitoring of amounts outstanding for both time and credit limits.

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.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

REPORT OF THE DIRECTORS

for the year ended 30 September 2025

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Magma Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G Parkin - Director

31 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

IDSL GROUP HOLDINGS LIMITED

Opinion

We have audited the financial statements of IDSL Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

IDSL GROUP HOLDINGS LIMITED

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 eight, 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.

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.

Based on our understanding of the group and industry, we identified the principal risks of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006, Health and Safety regulations and employment law. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed included:

- |  | discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; |

- |  | challenging assumptions made by management in their significant accounting estimates, in particular in relation to the carrying value of investments and intangible assets including goodwill, going concern, recoverability of debtors and useful economic lives of intangible assets |

- |  | identifying and testing journal entries, in particular any journal entries posted with unusual account combinations, journal entries crediting cash and journal entries with specific defined descriptions. |

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

IDSL GROUP HOLDINGS 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.

Victoria Craig (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP

Chartered Accountants

Statutory Auditor

Magma House, 16 Davy Court

Castle Mound Way

Rugby

CV23 0UZ

31 March 2026

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

CONSOLIDATED

STATEMENT OF COMPREHENSIVE

INCOME

for the year ended 30 September 2025

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

| Notes | £'000 | £'000 |

TURNOVER | 3 | 48,395 |  | 15,431 |  |

Cost of sales | (32,611 | ) | (10,815 | ) |

GROSS PROFIT | 15,784 |  | 4,616 |  |

Administrative expenses | (11,135 | ) | (3,843 | ) |

OPERATING PROFIT | 5 | 4,649 |  | 773 |  |

Interest receivable and similar income | 4 |  | 6 |  |

4,653 |  | 779 |  |

Interest payable and similar expenses | 6 | (3,205 | ) | (1,271 | ) |

PROFIT/(LOSS) BEFORE TAXATION | 1,448 |  | (492 | ) |

Tax on profit/(loss) | 7 | (1,008 | ) | (303 | ) |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 440 |  | (795 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 440 |  | (795 | ) |

Profit/(loss) attributable to:

Owners of the parent | 440 |  | (795 | ) |

Total comprehensive income attributable to:

Owners of the parent | 440 |  | (795 | ) |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 September 2025

| 2025 |  | 2024

| Notes | £'000 | £'000 |

FIXED ASSETS

Intangible assets | 9 | 21,082 |  | 20,270 |  |

Tangible assets | 10 | 5,041 |  | 4,628 |  |

Investments | 11 | - |  | - |  |

26,123 |  | 24,898 |  |

CURRENT ASSETS

Stocks | 12 | 2,193 |  | 1,609 |  |

Debtors | 13 | 8,163 |  | 7,163 |  |

Cash at bank and in hand | 4,437 |  | 2,137 |  |

14,793 |  | 10,909 |  |

CREDITORS

Amounts falling due within one year | 14 | (11,673 | ) | (9,061 | ) |

NET CURRENT ASSETS | 3,120 |  | 1,848 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 29,243 |  | 26,746 |  |

CREDITORS

Amounts falling due after more than one year | 15 | (27,946 | ) | (26,194 | ) |

PROVISIONS FOR LIABILITIES | 19 | (1,082 | ) | (972 | ) |

NET ASSETS/(LIABILITIES) | 215 |  | (420 | ) |

CAPITAL AND RESERVES

Called up share capital | 20 | 7 |  | 7 |  |

Share premium | 21 | 563 |  | 368 |  |

Retained earnings | 21 | (355 | ) | (795 | ) |

SHAREHOLDERS' FUNDS | 215 |  | (420 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by:

G Parkin - Director

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

COMPANY STATEMENT OF FINANCIAL POSITION

30 September 2025

| 2025 |  | 2024

| Notes | £'000 | £'000 |

FIXED ASSETS

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | - |  | - |  |

Investments | 11 | 27,238 |  | 27,238 |  |

27,238 |  | 27,238 |  |

CURRENT ASSETS

Debtors | 13 | 1,249 |  | 53 |  |

Cash at bank | 169 |  | 2 |  |

1,418 |  | 55 |  |

CREDITORS

Amounts falling due within one year | 14 | (2,925 | ) | (1,363 | ) |

NET CURRENT LIABILITIES | (1,507 | ) | (1,308 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 25,731 |  | 25,930 |  |

CREDITORS

Amounts falling due after more than one year | 15 | (27,555 | ) | (25,537 | ) |

NET (LIABILITIES)/ASSETS | (1,824 | ) | 393 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 7 |  | 7 |  |

Share premium | 21 | 563 |  | 368 |  |

Retained earnings | 21 | (2,394 | ) | 18 |  |

SHAREHOLDERS' FUNDS | (1,824 | ) | 393 |  |

Company's (loss)/profit for the financial year | (2,412 | ) | 18 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by:

G Parkin - Director

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the year ended 30 September 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£'000 | £'000 | £'000 | £'000 |

Changes in equity

Issue of share capital | 7 |  | - |  | 368 |  | 375 |  |

Total comprehensive income | - |  | (795 | ) | - |  | (795 | ) |

Balance at 30 September 2024 | 7 |  | (795 | ) | 368 |  | (420 | ) |

Changes in equity

Issue of share capital | - |  | - |  | 195 |  | 195 |  |

Total comprehensive income | - |  | 440 |  | - |  | 440 |  |

Balance at 30 September 2025 | 7 |  | (355 | ) | 563 |  | 215 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

COMPANY STATEMENT OF CHANGES IN EQUITY

for the year ended 30 September 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£'000 | £'000 | £'000 | £'000 |

Changes in equity

Issue of share capital | 7 |  | - |  | 368 |  | 375 |  |

Total comprehensive income | - |  | 18 |  | - |  | 18 |  |

Balance at 30 September 2024 | 7 |  | 18 |  | 368 |  | 393 |  |

Changes in equity

Issue of share capital | - |  | - |  | 195 |  | 195 |  |

Total comprehensive income | - |  | (2,412 | ) | - |  | (2,412 | ) |

Balance at 30 September 2025 | 7 |  | (2,394 | ) | 563 |  | (1,824 | ) |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

CONSOLIDATED STATEMENT OF CASH FLOWS

for the year ended 30 September 2025

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

| Notes | £'000 | £'000 |

Cash flows from operating activities

Cash generated from operations | 1 | 7,387 |  | (7,744 | ) |

Interest paid | (3,162 | ) | (158 | ) |

Finance costs paid | (43 | ) | (17 | ) |

Tax paid | 1,751 |  | - |  |

Net cash from operating activities | 5,933 |  | (7,919 | ) |

Cash flows from investing activities

Purchase of intangible fixed assets | (2,121 | ) | (125 | ) |

Purchase of tangible fixed assets | (1,458 | ) | (317 | ) |

Sale of tangible fixed assets | 333 |  | - |  |

Acquistion, net of cash acquired | (1,063 | ) | (14,964 | ) |

Interest received | 4 |  | 6 |  |

Net cash from investing activities | (4,305 | ) | (15,400 | ) |

Cash flows from financing activities

New loans in year | 17,100 |  | 25,082 |  |

Loan repayments in year | (16,623 | ) | - |  |

Share issue | 195 |  | 374 |  |

Net cash from financing activities | 672 |  | 25,456 |  |

Increase in cash and cash equivalents | 2,300 |  | 2,137 |  |

Cash and cash equivalents at beginning of year | 2 | 2,137 |  | - |  |

Cash and cash equivalents at end of year | 2 | 4,437 |  | 2,137 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS

for the year ended 30 September 2025

1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| Profit/(loss) before taxation | 1,448 |  | (492 | ) |

| Depreciation charges | 3,595 |  | 1,333 |  |

| (Profit)/loss on disposal of fixed assets | (134 | ) | 64 |  |

| Finance costs | 3,205 |  | 1,271 |  |

| Finance income | (4 | ) | (6 | ) |

8,110 |  | 2,170 |  |

| (Increase)/decrease in stocks | (527 | ) | 174 |  |

| Decrease in trade and other debtors | 23 |  | 191 |  |

| Decrease in trade and other creditors | (219 | ) | (10,279 | ) |

| Cash generated from operations | 7,387 |  | (7,744 | ) |

2. | CASH AND CASH EQUIVALENTS

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

| Year ended 30 September 2025

| 30/9/25 |  | 1/10/24

£'000 | £'000 |

| Cash and cash equivalents | 4,437 |  | 2,137 |  |

| Period ended 30 September 2024

| 30/9/24 |  | 8/3/24

£'000 | £'000 |

| Cash and cash equivalents | 2,137 |  | - |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1/10/24 | Cash flow | At 30/9/25

£'000 | £'000 | £'000 |

| Net cash |

| Cash at bank and in hand | 2,137 |  | 2,300 |  | 4,437 |  |

2,137 |  | 2,300 |  | 4,437 |  |

| Debt

| Finance leases | (1,195 | ) | 253 |  | (942 | ) |

| Debts falling due within 1 year | (1,242 | ) | (352 | ) | (1,594 | ) |

| Debts falling due after 1 year | (25,177 | ) | (2,018 | ) | (27,195 | ) |

(27,614 | ) | (2,117 | ) | (29,731 | ) |

| Total | (25,477 | ) | 183 |  | (25,294 | ) |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 30 September 2025

1. | STATUTORY INFORMATION

| IDSL Group Holdings Limited is a group, registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the notes to the accounts.

| The prior year comparative figures do not represent a full year and are therefore not directly comparable.

| The group's functional currency and presentational currency is Sterling (£). The financial statements have been rounded to the nearest thousand.

| 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 the fair values at the acquisition date. The results of acquired operations are included in the Consolidated Profit and Loss from the date on which control is obtained. They are deconsolidated from the date control ceases.

| Going concern

| The group had net current assets of £3,120,000 (2024; £1,848,000) and net assets of £215,000 (2024: net liabilities £420,000) For the period ended 30 September 2025 the group made a profit after tax of £440,000 (2024: Loss after tax: £795,000).

| The company had net current liabilities of £1,507,000 (2024: £1,308,000) and net liabilities of £1,824,000 (2024: net assets £393,000). For the period ended 30 September 2025 the company made a loss after tax of £2,412,000 (2024: Profit after tax: £18,000).

| The directors have considered the going concern status of the company and group. The directors have prepared financial forecasts which show that the company and group can meet its debts as they fall due.

| Accordingly the directors continue to adopt the going concern basis in preparing the financial statements.

| Turnover

| Turnover is measured as the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the group and value added taxes.

| The group recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the group retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to the each of group’s sales channels have been met.

| Goodwill

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirers interest in the fair value 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 Profit and Loss over its useful economic life which is expected to be 10 years.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| Intellectual property

| Intellectual property, being amounts paid in connection with certification and testing of product lines are initially recorded at cost. They are being amortised over their useful lives of 5 years.

| Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances.

| The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

| Tangible fixed assets

| Tangible assets are stated at historical cost less 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 on a straight line basis.

| Depreciation is provided on the following basis:

| Freehold land & buildings |  | - |  | over lease term |  |

| Plant and machinery |  | - |  | 10% straight line |  |

| Fixtures and fittings |  | - |  | 20% straight line |  |

| Computer equipment |  | - |  | 25% straight line |  |

| Motor vehicles |  | - |  | 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.

| Investment in subsidiary undertakings

| Investment in the subsidiary is held at cost less accumulated impairment losses.

| Stocks

| Stocks comprise raw materials and work in progress.

| Raw materials

| Raw materials are stated at the lower of cost and estimated selling price less costs to complete and sell. Stocks are recognised as an expense in the period in which the related revenue is recognised. Cost is determined on the first-in, first-out (FIFO) method.

| At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and recognised as a credit on the profit and loss.

| Work in progress

| Work in progress is valued on the basis of direct costs plus attributable labour time and overheads. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, 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.

| (i) Current tax

| Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

| Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

| (ii) Deferred tax

| Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

| Foreign currencies

| At each year end foreign currency monetary items are translated using the closing exchange 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 the year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| Operating and finance lease commitments

| At inception the group assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.

| (i) Finance leased assets

| Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

| Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined the group’s incremental borrowing rate is used. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.

| Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

| The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.

| (ii) Operating leased assets

| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

| (iii) Lease incentives

| Incentives received to enter into a finance lease reduce the fair value of the asset and are included in the calculation of present value of minimum lease payments.

| Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, on a straight-line basis over the period of the lease.

| Employee benefits

| 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 when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the group in independently administered funds.

| Research and development

| Expenditure on research and development is written off in the period it is incurred.

| Share capital

| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The group has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| (i) Financial assets

| Basic financial assets, including trade and other debtors, cash and bank balances, investments and loans to fellow group companies are initially recognised at transaction price, 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.

| Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

| Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies 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 payments discounted at a market rate of interest.

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

| Trade creditors are obligations to pay for goods that have been acquired in the ordinary course of business from suppliers.

| Trade creditors are classified as current liabilities if payment is due within one year or less.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Preference shares are classified as liabilities. Each preference share is entitled to a dividend equal to 12% per annum which is cumulative but not compounding. The dividends are classified as a finance cost and included in the income statement. These shares do not carry voting rights.

| (iii) Offsetting

| Financial assets and liabilities are offset and 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.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| Critical accounting estimates and assumptions

| The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

| (i) Useful economic lives of tangible assets

| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

| (ii) Impairment of debtors

| The group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

| (iii) Impairment of intangible assets and goodwill

| The group considers whether intangible assets and goodwill are impaired. Where an indication of impairment is identified the estimation of recoverable value requires estimation of the recoverable value of the cash generating units (CGUs). This requires estimation of the future cash flows from the CGUs and also selection of appropriate discount rates in order to calculate the net present value of those cash flows.

| (iv) Carrying value of investments

| The investment is held at cost and when assessing annually for impairment management consider factors including but not limited to the cash flows expected to arise from the investments.

3. | TURNOVER

| The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by class of business is given below:

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| Manufacturing | 27,701 |  | 9,668 |  |

| Inspection and maintenance | 20,696 |  | 5,763 |  |

48,397 |  | 15,431 |  |

| An analysis of turnover by geographical market is given below:

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| United Kingdom | 48,397 |  | 15,431 |  |

48,397 |  | 15,431 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

4. | EMPLOYEES AND DIRECTORS

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| Wages and salaries | 13,378 |  | 3,150 |  |

| Social security costs | 1,467 |  | 468 |  |

| Other pension costs | 229 |  | 92 |  |

15,074 |  | 3,710 |  |

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

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

| Administration staff | 101 |  | 83 |  |

| Management | 13 |  | 8 |  |

| Production and warehouse | 230 |  | 226 |  |

344 |  | 317 |  |

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£ | £ |

| Directors' remuneration | 423,925 |  | 128,381 |  |

| Directors' pension contributions to money purchase schemes | 2,201 |  | 1,063 |  |

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

| Money purchase schemes | 1 |  | 3 |  |

| Information regarding the highest paid director for the year ended 30 September 2025 is as follows:

| Year Ended |

| 30/9/25 |

£ |  |

| Emoluments etc | 460,889 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| Other operating leases | - |  | 116 |  |

| Depreciation - owned assets | 872 |  | 376 |  |

| Depreciation - assets on hire purchase contracts | 233 |  | 16 |  |

| (Profit)/loss on disposal of fixed assets | (134 | ) | 15 |  |

| Goodwill amortisation | 2,347 |  | 854 |  |

| Patents and licences amortisation | 143 |  | 87 |  |

| Audit of the parent company and the group's consolidated financial statements | 16 |  | 16 |  |

| Audit of the company's subsidiaries | 45 |  | 40 |  |

| Operating lease rentals | 584 |  | 407 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| Finance costs | 261 |  | 9 |  |

| Bank loan interest | 424 |  | - |  |

| Loan notes | 2,477 |  | 1,245 |  |

| Preference shares | 43 |  | 17 |  |

3,205 |  | 1,271 |  |

7. | TAXATION

| Analysis of the tax charge

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

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| Current tax:

| UK corporation tax | 959 |  | 348 |  |

| Adjustment to prior years | (61 | ) | - |  |

| Total current tax | 898 |  | 348 |  |

| Deferred tax | 110 |  | (45 | ) |

| Tax on profit/(loss) | 1,008 |  | 303 |  |

| UK corporation tax has been charged at 25 % (2024 - 25 %).

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

7. | TAXATION - continued

| 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:

| Period

| 8/3/24

| Year Ended |  | to

| 30/9/25 |  | 30/9/24

£'000 | £'000 |

| Profit/(loss) before tax | 1,448 |  | (492 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 362 |  | (123 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 844 |  | 464 |  |

| Income not taxable for tax purposes | (294 | ) | - |  |

| Capital allowances in excess of depreciation | - |  | (25 | ) |

| Depreciation in excess of capital allowances | 42 |  | - |  |

| Adjustments to tax charge in respect of previous periods | 56 |  | - |  |

| Research and development tax credit | - |  | (13 | ) |

| Total tax charge | 1,010 |  | 303 |  |

8. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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

9. | INTANGIBLE FIXED ASSETS

| Group

| Patents |

| and |

| Goodwill |  | licences |  | Totals

£'000 | £'000 | £'000 |

| COST

| At 1 October 2024 | 20,503 |  | 708 |  | 21,211 |  |

| Additions | 2,969 |  | 333 |  | 3,302 |  |

| At 30 September 2025 | 23,472 |  | 1,041 |  | 24,513 |  |

| AMORTISATION

| At 1 October 2024 | 854 |  | 87 |  | 941 |  |

| Amortisation for year | 2,347 |  | 143 |  | 2,490 |  |

| At 30 September 2025 | 3,201 |  | 230 |  | 3,431 |  |

| NET BOOK VALUE

| At 30 September 2025 | 20,271 |  | 811 |  | 21,082 |  |

| At 30 September 2024 | 19,649 |  | 621 |  | 20,270 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

10. | TANGIBLE FIXED ASSETS

| Group

| Freehold |  | Fixtures

| land & |  | Plant and |  | and

| buildings |  | machinery |  | fittings

£'000 | £'000 | £'000 |

| COST

| At 1 October 2024 | 263 |  | 4,067 |  | 215 |  |

| Additions | 33 |  | 956 |  | 184 |  |

| Disposals | - |  | (50 | ) | - |  |

| At 30 September 2025 | 296 |  | 4,973 |  | 399 |  |

| DEPRECIATION

| At 1 October 2024 | 17 |  | 249 |  | 11 |  |

| Charge for year | 36 |  | 785 |  | 43 |  |

| Eliminated on disposal | - |  | (23 | ) | - |  |

| At 30 September 2025 | 53 |  | 1,011 |  | 54 |  |

| NET BOOK VALUE

| At 30 September 2025 | 243 |  | 3,962 |  | 345 |  |

| At 30 September 2024 | 246 |  | 3,818 |  | 204 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£'000 | £'000 | £'000 |

| COST

| At 1 October 2024 | 110 |  | 320 |  | 4,975 |  |

| Additions | 242 |  | 297 |  | 1,712 |  |

| Disposals | (195 | ) | - |  | (245 | ) |

| At 30 September 2025 | 157 |  | 617 |  | 6,442 |  |

| DEPRECIATION

| At 1 October 2024 | 21 |  | 49 |  | 347 |  |

| Charge for year | 81 |  | 160 |  | 1,105 |  |

| Eliminated on disposal | (28 | ) | - |  | (51 | ) |

| At 30 September 2025 | 74 |  | 209 |  | 1,401 |  |

| NET BOOK VALUE

| At 30 September 2025 | 83 |  | 408 |  | 5,041 |  |

| At 30 September 2024 | 89 |  | 271 |  | 4,628 |  |

| The net carrying amount of assets held under finance leases included in plant, machinery, fixtures and fittings and Computer equipment is £1,805,000 (2024: £1,929,000). The depreciation charged in the year in respect of such assets amounted to £365,000 (2024: £299,000).

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

11. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£'000 |

| COST

| At 1 October 2024

| and 30 September 2025 | 27,238 |  |

| NET BOOK VALUE

| At 30 September 2025 | 27,238 |  |

| At 30 September 2024 | 27,238 |  |

| The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| Subsidiaries

| Integrated Doorset Solutions Limited

| Registered office: Magma House, 16 Davy Court, Castle Mound Way, Rugby, CV23 0UZ

| Nature of business: Manufacture and sales of performance doorsets

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£'000 | £'000 |

| Aggregate capital and reserves | 8,441 |  | 7,733 |  |

| Profit for the year/period | 3,121 |  | 3,864 |  |

| Fire Door Inspection Solutions Limited

| Registered office: Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ

| Nature of business: Inspection and maintenance of fire doors

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£'000 | £'000 |

| Aggregate capital and reserves | 6,976 |  | 4,275 |  |

| Profit for the year/period | 4,678 |  | 2,468 |  |

| Fire Door Inspections Solutions (Southern) Limited

| Registered office: Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ

| Nature of business: Inspection and maintenance of fire doors

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£'000 | £'000 |

| Aggregate capital and reserves | - |  | 185 |  |

| This company was dissolved on 7 October 2025.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

11. | FIXED ASSET INVESTMENTS - continued

| Performance Joinery Limited

| Registered office: Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ

| Nature of business: Manufacture and sales of performance doorsets

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£'000 | £'000 |

| Aggregate capital and reserves | - |  | 1,059 |  |

| Loss for the year/period | - |  | (165 | ) |

| This company was dissolved on 18 November 2025.

| Hartland Fire Holdings Limited

| Registered office: 3 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ

| Nature of business: Construction and fitting of passive fire solutions

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 |  |

£'000 |  |

| Aggregate capital and reserves | 1,809 |  |

| Profit for the year | 1,809 |  |

12. | STOCKS

| Group |

2025 | 2024 |

£'000 | £'000 |

| Stocks | 1,060 |  | 1,059 |  |

| Work-in-progress | 1,133 |  | 550 |  |

2,193 |  | 1,609 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£'000 | £'000 | £'000 | £'000 |

| Trade debtors | 6,325 |  | 5,864 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 1,024 |  | 18 |  |

| Other debtors | 140 |  | 53 |  | 114 |  | 33 |  |

| Tax | 127 |  | - |  | - |  | - |  |

| Deferred tax asset | - |  | - |  | 108 |  | - |  |

| Prepayments and accrued income | 1,571 |  | 1,246 |  | 3 |  | 2 |  |

8,163 |  | 7,163 |  | 1,249 |  | 53 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£'000 | £'000 | £'000 | £'000 |

| Bank loans and overdrafts (see note 16) | - |  | 148 |  | - |  | - |  |

| Other loans (see note 16) | 1,594 |  | 1,094 |  | 1,594 |  | 1,094 |  |

| Hire purchase contracts (see note 17) | 551 |  | 538 |  | - |  | - |  |

| Trade creditors | 4,534 |  | 3,323 |  | 62 |  | 40 |  |

| Amounts owed to group undertakings | 9 |  | - |  | 1,041 |  | 108 |  |

| Tax | - |  | 726 |  | - |  | - |  |

| Social security and other taxes | 415 |  | 242 |  | 57 |  | 38 |  |

| VAT | 842 |  | 663 |  | 64 |  | 37 |  |

| Other creditors | 1,607 |  | 236 |  | - |  | 11 |  |

| Accruals and deferred income | 2,121 |  | 2,091 |  | 107 |  | 35 |  |

11,673 |  | 9,061 |  | 2,925 |  | 1,363 |  |

15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£'000 | £'000 | £'000 | £'000 |

| Bank loans (see note 16) | 16,654 |  | - |  | 16,654 |  | - |  |

| Other loans (see note 16) | 10,541 |  | 25,177 |  | 10,541 |  | 25,177 |  |

| Hire purchase contracts (see note 17) | 391 |  | 657 |  | - |  | - |  |

| Preference shares | 360 |  | 360 |  | 360 |  | 360 |  |

27,946 |  | 26,194 |  | 27,555 |  | 25,537 |  |

16. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£'000 | £'000 | £'000 | £'000 |

| Amounts falling due within one year or on | demand: |

| Bank loans | - |  | 148 |  | - |  | - |  |

| Loan notes | 1,594 |  | 1,094 |  | 1,594 |  | 1,094 |  |

1,594 |  | 1,242 |  | 1,594 |  | 1,094 |  |

| Amounts falling due between one and two | years: |

| Bank loans - 1-2 years | 16,654 |  | - |  | 16,654 |  | - |  |

| Amounts falling due between two and five | years: |

| Loan notes - 2-5 years | 10,541 |  | 25,177 |  | 10,541 |  | 25,177 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£'000 | £'000 |

| Net obligations repayable:

| Within one year | 551 |  | 538 |  |

| Between one and five years | 391 |  | 657 |  |

942 |  | 1,195 |  |

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£'000 | £'000 |

| Within one year | 674 |  | 565 |  |

| Between one and five years | 2,596 |  | 2,011 |  |

| In more than five years | 2,013 |  | 1,801 |  |

5,283 |  | 4,377 |  |

| Group

| The future minimum hire purchase lease payments are as follows:

|  | 2025 |  |  | 2024 |

|  | £'000 |  |  | £'000 |

| Not later than one year |  | 594 |  |  | 590 |

| Later than one year and not later than five years |  | 409 |  |  | 694 |

| Total gross payments |  | 1,003 |  |  | 1,284 |

| Less: finance charges |  | (61 | ) |  | (89 | )

| Carrying amount of liability |  | 942 |  |  | 1,195 |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

18. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2025 | 2024 |

£'000 | £'000 |

| Bank loans | 16,654 |  | 148 |  |

| Loan notes | 12,135 |  | 26,271 |  |

| Hire purchase | 942 |  | 1,195 |  |

29,731 |  | 27,614 |  |

| The bank loans are secured by an unlimited debenture over the assets of the group.

| The net obligations under hire purchase contracts are secured on the assets to which they relate.

| A bank loan was repaid during the year on the 5th anniversary of the date of the agreement being May 2025. Interest was charged at a rate of 1.56% above Bank of England base rate.

| On 5 June 2025 the group completed refinancing of £17.1m of Loan Notes. These were replaced with bank debt comprising a £10.3m bullet loan due 4.5 years after commencement of the loan and a £6.8m amortising loan which is due over a period of 4 years. These loans are included in bank loans above inclusive of accrued interest but net of loan arrangement fees which are amortised over the life of the loan. Interest on the bullet loan is charged at SONIA plus 3.25% and SONIA plus 3.75% on the amortising loan. Interest is charged and paid monthly on both loans.

| Included within Loan notes above are Investor A1 and A2 loan notes totalling £8,255,630. The repayment date at the period end was 7 May 2029. Interest of 12% is charged on the Investor A1 and A2 loan notes.

| Included within Loan notes above are Management B1 and B2 loan notes totalling £3,497,373. The repayment date at the period end was 7 May 2029. Interest of 12% is charged on the Management B1 and B2 loan notes.

| Included within Loan notes above are Management C1 and C2 Loan notes totalling £460,427. The repayment date at the period end was 7 May 2029. Interest of 5% is charged on the Management C1 and C2 Loan notes.

| Following the refinancing none of the loan notes are secured. The secured loan notes were secured by a debenture over the group’s properties, including a fixed and floating charge

19. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£'000 | £'000 |

| Deferred tax

| Accelerated capital allowances | 862 |  | 1,097 |  |

| Tax losses carried forward | - |  | (101 | ) |

| Deferred tax | 220 |  | (24 | ) |

1,082 |  | 972 |  |

| Group

| Deferred |

| tax |

£'000 |

| Balance at 1 October 2024 | 973 |  |

| Credit to Statement of Comprehensive Income during year | (25 | ) |

| Adjustment to prior periods | 134 |  |

| Balance at 30 September 2025 | 1,082 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

19. | PROVISIONS FOR LIABILITIES - continued

| Company

| Deferred |

| tax |

£'000 |

| Credit to Statement of Comprehensive Income during year | (108 | ) |

| Balance at 30 September 2025 | (108 | ) |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

|  | Value: |  | £'000 |  | £ |

| 1,153,280 |  | Deferred Shares |  | £0.0001 |  | - |  | - |

| 200,000 |  | A Ordinary Shares |  | £0.01 |  | 2 |  | 2,000 |

| 75,614 |  | B1 Ordinary Shares |  | £0.05 |  | 4 |  | 3,780 |

| 2,268 |  | B2 Ordinary Shares |  | £0.05 |  | - |  | - |

| 82,392 |  | C1 Ordinary Shares |  | £0.01 |  | 1 |  | 624 |

| 3,782 |  | C1A Ordinary Shares |  | £0.01 |  | - |  | - |

| 7,561 |  | C2 Ordinary Shares |  | £0.01 |  | - |  | - |

|  | 7 |  | 6,593 |

| 7,564 C1 Ordinary Shares of £0.01 each were allotted at a premium of £6.44 per share during the period. The shares are called-up but unpaid. The amount of the unpaid share capital is £48,788.

| 1,260 C2 Ordinary Shares of £0.01 each were allotted as fully paid at a premium of £6.44 per share during the period.

| 1,153,280 Deferred Shares of £0.0001 each were allotted as fully paid at nominal value.

| All classes of Ordinary shares are separate classes but rank pari passu and confer on each holder the right to vote, the right to a dividend in accordance with the Articles of the company and can participate in a distribution arising from the winding up of the company. All classes of Ordinary shares are not redeemable.

21. | RESERVES

| Group

| Retained |  | Share |

| earnings |  | premium |  | Totals

£'000 | £'000 | £'000 |

| At 1 October 2024 | (795 | ) | 368 |  | (427 | ) |

| Profit for the year | 440 |  | 440 |  |

| Cash share issue | - |  | 195 |  | 195 |  |

| At 30 September 2025 | (355 | ) | 563 |  | 208 |  |

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

21. | RESERVES - continued

| Company

| Retained |  | Share |

| earnings |  | premium |  | Totals

£'000 | £'000 | £'000 |

| At 1 October 2024 | 18 |  | 368 |  | 386 |  |

| Deficit for the year | (2,412 | ) | (2,412 | ) |

| Cash share issue | - |  | 195 |  | 195 |  |

| At 30 September 2025 | (2,394 | ) | 563 |  | (1,831 | ) |

22. | ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

| There was no ultimate parent company or ultimate controlling party in the current or the prior period, as no single shareholder has control of the the company by by virtue of the voting rights attached to their shareholdings.

23. | RELATED PARTY DISCLOSURES

| Company

| 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.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Group

| During the year sales of £Nil (2024: £6,000) were made to, and purchases of £266,000 (2024: £234,000) were made from a related company with common directors. At the year end £24,000 (2024: £Nil) was due to this related company.

| During the year purchases of £115,000 (2024: £86,000) were made from a related company with common directors, £115,000 being rent.

| During the year purchases of £141,000 (2024: £103,000) were made from a related company with common directors. At the year end £13,000 (2024: £nil) was due to this related company.

24. | POST BALANCE SHEET EVENTS

| On 15 January 2026, the company acquired Fire Doors Rite Limited through the purchase of 100% of the share capital for total consideration of £6,705,672.

IDSL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 15548053) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 30 September 2025

25. | BUSINESS COMBINATION

| On 21 November 2024 the group acquired control of Hartland Fire Holdings Ltd through the purchase of 100% of the share capital for total consideration of £4,032,861.

| The following table summarises the consideration paid by the group, the fair value of the assets acquired and liabilities assumed.

| Consideration at 21 November 2024

| £'000 |  |

| Cash consideration |  |  | 1,195 |  |

| Loan notes |  |  | 1,500 |  |

| Deferred consideration |  |  | 1,181 |  |

| Incidental costs of acquisition |  |  | 156 |  |

|  | 4,033 |  |

| For cash flow disclosure purposes the amounts are disclosed as follows:

| £'000 |  |

| Cash and cash equivalents acquired |  |  | 184 |  |

|  | 184 |  |

| Recognised amounts of identifiable assets acquired and liabilities assumed:

| Fair Value |  |

| £'000 |  |

| Tangible assets |  |  | 259 |  |

| Stock |  |  | 57 |  |

| Debtors |  |  | 929 |  |

| Cash at bank |  |  | 184 |  |

| Creditors |  |  | (366 | ) |

| Total identifiable assets |  |  | 1,064 |  |

| Goodwill |  |  | 2,969 |  |

| Total consideration |  |  | 4,033 |  |