REGISTERED NUMBER: 14081700 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

FRIXOS GROUP LTD

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Statement of Financial Position

12

Company Statement of Financial Position

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Statement of Cash Flows

16

Notes to the Consolidated Statement of Cash Flows

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

Mr D Koutsou

Mr S Savva

Mr K Koutsou

REGISTERED OFFICE:

1 Kings Avenue

Winchmore Hill

London

N21 3NA

REGISTERED NUMBER:

14081700 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

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

REVIEW OF BUSINESS

Frixos Group Limited operates in the manufacturing sector within the construction industry, specialising in delivering high-quality products and solutions for high-rise and infrastructure projects. With a strong order book and longstanding customer relationships, the Group is well-positioned to support ongoing industry demand driven by regulatory changes and increasing safety standards.

The Building Safety Regulations ("BSR") came into full effect in the UK in 2024 as part of the regulatory response following the Grenfell Tower fire. The regulations introduce enhanced safety requirements for higher-risk buildings and have increased the complexity of planning and approval processes within the construction sector. In particular, the Gateway 2 approval stage has extended project lead times and increased the period between initial project commitment and on-site commencement. While this has resulted in earlier visibility of committed orders, it has also introduced greater uncertainty around planning approvals and project start dates which will potentially impact the timing and quantum of orders, margins and profitability levels in the short to medium term.

The Group reported a resilient performance in the year, with revenue increasing to £28.6m (2024: £27.4m), representing growth of 4.5%. The increase reflects sustained activity across structural steelwork and architectural metalwork projects, supported by continued demand within the construction sector.

Gross profit decreased to £9.1m (2024: £9.9m), with gross margin reducing to 31.7% (2024: 36.2%). The movement reflects cost inflation across key inputs, including raw materials and subcontract labour, together with changes in project mix delivered during the year. The Group has continued to apply disciplined pricing and contractual risk management in the selection and execution of new work.

Profit before tax decreased to £5.7m (2024: £6.5m), with the reduction primarily reflecting the movement in gross profit, partially offset by continued focus on overhead control and operational efficiency.

The Group maintained a healthy liquidity position throughout the year. Current assets decreased to £13.8m (2024: £14.6m), while current liabilities reduced to £5.6m (2024: £7.1m), resulting in a current ratio of 2.5x (2024: 2.1x). Working capital remains well managed, supported by disciplined cash collection processes and milestone-based billing arrangements.

Overall, the Group remains financially stable with a solid balance sheet and continued liquidity headroom. The order book provides good visibility over future activity, although conversion remains subject to prevailing market conditions.

PRINCIPAL RISKS AND UNCERTAINTIES

Economic and Market Risk

Potential impact on the Group

The Group's performance is closely tied to the broader economic climate in the UK, with market demand fluctuating in line with macroeconomic indicators.

Mitigating factors or controls

- The Group undertakes regular monitoring of the UK economic environment, supported by forecasting tools that analyse key indicators, such as construction activities and market trends to mitigate economic risk.

- Customer care is a main priority and the Group maintains strong relationships with customers.

Health & safety and site operations risk

Potential impact on the Group

Failure to maintain safe working conditions could result in employee injuries or fatalities, leading to regulatory fines, legal claims, operational delays, and reputational damage.

Disruption to key operational sites due to equipment failure, natural events, or supply chain interruptions could adversely affect production, delay project delivery, and increase costs.

Mitigating factors or controls

- Continuously train and update staff on health and safety regulations.

- Improve safety management systems, subcontractor control, incident reporting and corrective actions.

- Conduct regular audits, management review and ensure appropriate insurance cover.

Credit and working capital risk

Potential impact on the Group

The Group operates in a sector where cash conversion is influenced by project certification, valuation processes and customer payment behaviour. Some of the Group's current assets are tied up in receivables and contract balances. As a result, delays in customer approvals/certification, disputed applications, retention timing, or extended payment terms can cause inconsistency in cash flows and reduce liquidity headroom.

Working capital strain can also arise from a structural timing mismatch: the Group typically needs to fund labour, and material procurement in advance of cash receipt, particularly on larger contracts or where raw material purchasing is front-loaded.

Mitigating factors or controls

- Customer selection and credit governance: credit assessment on new customers and periodic reassessment of existing counterparties; credit limits and approval controls for extended terms; proactive monitoring of concentration exposures.

- Robust valuation and certification processes: disciplined monthly application/valuation routines for certified work (including active management of retentions), with appropriate senior review of material contract assets and recoverability.

- Active collections and dispute resolution: routine aged-debtor reviews, early escalation of overdue items, structured dispute resolution and settlement plans where needed, and clear ownership/accountability for debtor recovery.

- Working capital planning and liquidity monitoring: rolling cash-flow forecasting (by project and in aggregate), monitoring of debtor days and contract balance movements, and active oversight of supplier/subcontractor commitments to maintain liquidity resilience.

- Provide timely strategic value-added services to assist and facilitate customers with their BSR approval process, so that projects can commence as soon as practicable.

Input cost inflation and supply chain disruption

Potential impact on the Group

Rising raw material and energy costs may reduce profitability, while Supply chain disruptions could lead to delivery delays and increased margin pressure.

Mitigating factors or controls

- Diversify our supplier base, cultivate strong supplier relationships, implement a rigorous evaluation and approval process before onboarding new supplier.

- Forward planning of key materials (including increasing safety stock levels when necessary), optimisation of fabrication schedules and waste reduction.

FUTURE OUTLOOK AND STRATEGIC FOCUS

Despite the economic challenges, Frixos Group Limited is poised for continued growth and innovation. The Group's strategic initiatives are geared towards reinforcing its market position and enhancing operational effectiveness:

Risk Management Strategies

Looking ahead, the Group aims to leverage its technical expertise, project management capabilities, and strong client relationships to navigate the evolving regulatory landscape. Investment in process improvements and enhanced customer collaboration will support timely project delivery and sustainable growth. The Board remains confident in the Group's strategic direction and its ability to capitalise on market opportunities.

Operational Efficiency and Cost Control

During the reporting period, the Group secured a substantial order pipeline, including projects subject to the new BSR planning processes. Despite delays in approval stages, the Group has maintained proactive engagement with clients and stakeholders to manage these challenges effectively. Operational resilience and resource flexibility have enabled the Group to prepare for rapid mobilisation once approvals are granted.

Credit Management

The application for payment at key stages of the build programme reduces the credit risk along with ongoing monitoring that work completed are certified for payment.

Human Capital Investment

Ongoing investment in employee development will underscore the Group's commitment to fostering a culture of excellence and innovation.

Sustainability and Environmental Responsibility

The Group is dedicated to embedding sustainable practices into its operations, aligning with environmental standards and focusing on long-term efficiency and cost savings.

KEY PERFORMANCE INDICATORS

The Key Performance Indicators (KPIs) for the year ending 30 September 2025 are indicative of Frixos Group Limited's commitment to sustainable growth and financial stability:

Revenue Growth

Revenue increased to £28,597,250 in 2025 (2024: £27,354,334), demonstrating the Group's ability to maintain sales momentum. This growth reflects strong customer relationships and sustained demand for the Group's products and services.

Gross Profit

Gross profit decreased to £9,080,269 in 2025 (2024: £9,898,879). The reduction was primarily driven by higher raw material, energy, and production costs. Management continues to focus on cost control measures and operational efficiencies to mitigate margin pressure.

Operating Profit

Operating profit declined to £5,745,036 in 2025 (2024: £6,501,030). This reflects both the impact of reduced gross margins and continued investment in operational capacity, systems, and people to support future growth. Increased overheads were managed carefully to balance short-term profitability with long-term strategic objectives.

Net Profit

Net profit after tax decreased to £4,241,079 in 2025 (2024: £4,752,118). The reduction was attributable to increased operational costs. Despite this decline, the Group maintained a strong profit position.

Overall, the Group maintains a strong financial foundation and a clear strategic direction. The outlook remains positive, with management confident that ongoing efficiency improvements and strategic investments will support sustainable growth.

ON BEHALF OF THE BOARD:

Mr S Savva - Director

21 April 2026

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 design, manufacturing and installation of balconies, structural steelworks and architectural metalwork.

DIVIDENDS

No interim dividends were paid during the year ended 30 September 2025.

The directors recommend final dividends per share as follows:

A Ordinary £1 shares

£17,000

B Ordinary £1 shares

£20,000

The total distribution of dividends for the year ended 30 September 2025 will be £ 3,418,000 .

FUTURE DEVELOPMENTS

2026 is expected to be a very challenging year due to the new Building Safety Regulations that came into full effect in 2024. The directors, however, believe that the Group is in a strong position for business growth.

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.

Mr D Koutsou

Mr S Savva

Mr K Koutsou

All directors were appointed on 3 May 2022.

DONATIONS AND EXPENDITURE

During the year, the Group made charitable donations of £18,353 (2024: £8,315).

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The Group made qualifying third party indemnity provisions for the benefit of its directors. The provisions were in force throughout the year and remain effective at the reporting date.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Xeinadin Audit Limited, will be considered for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S Savva - Director

21 April 2026

Opinion

We have audited the financial statements of Frixos Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the Consolidated Income Statement, Consolidated Other 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.

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 five, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the group through discussions with directors and other management, and from our commercial knowledge and experience of the industry;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an

understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators, and the group's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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.

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.

Anthony Cowan FCA, BSc (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

21 April 2026

TURNOVER

4

28,597,250

27,354,334

Cost of sales

19,516,981

17,455,455

GROSS PROFIT

9,080,269

9,898,879

Administrative expenses

3,335,233

3,397,849

OPERATING PROFIT

6

5,745,036

6,501,030

Interest receivable and similar income

43,919

24,068

5,788,955

6,525,098

Interest payable and similar expenses

7

92,111

64,958

PROFIT BEFORE TAXATION

5,696,844

6,460,140

Tax on profit

8

1,455,765

1,708,022

PROFIT FOR THE FINANCIAL YEAR

4,241,079

4,752,118

Profit attributable to:

Owners of the parent

4,241,079

4,752,118

PROFIT FOR THE YEAR

4,241,079

4,752,118

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

4,241,079

4,752,118

Total comprehensive income attributable to:

Owners of the parent

4,241,079

4,752,118

FIXED ASSETS

Tangible assets

11

287,722

376,599

Investments

12

26,890

13,640

314,612

390,239

CURRENT ASSETS

Stocks

13

49,237

237,227

Debtors

14

8,019,593

9,612,407

Cash at bank

5,734,404

4,813,879

13,803,234

14,663,513

CREDITORS

Amounts falling due within one year

15

5,576,047

7,099,024

NET CURRENT ASSETS

8,227,187

7,564,489

TOTAL ASSETS LESS CURRENT LIABILITIES

8,541,799

7,954,728

CREDITORS

Amounts falling due after more than one year

16

(275,691

)

(489,480

)

PROVISIONS FOR LIABILITIES

20

(71,931

)

(94,150

)

NET ASSETS

8,194,177

7,371,098

CAPITAL AND RESERVES

Called up share capital

21

200

200

Retained earnings

22

8,193,977

7,370,898

SHAREHOLDERS' FUNDS

8,194,177

7,371,098

The financial statements were approved by the Board of Directors and authorised for issue on 21 April 2026 and were signed on its behalf by:

Mr S Savva - Director

Mr D Koutsou - Director

FIXED ASSETS

Tangible assets

11

-

-

Investments

12

26,990

13,740

26,990

13,740

CURRENT ASSETS

Debtors

14

4,158,232

3,906,231

Cash at bank

33,348

57,382

4,191,580

3,963,613

CREDITORS

Amounts falling due within one year

15

155,018

490,965

NET CURRENT ASSETS

4,036,562

3,472,648

TOTAL ASSETS LESS CURRENT LIABILITIES

4,063,552

3,486,388

CAPITAL AND RESERVES

Called up share capital

21

200

200

Retained earnings

22

4,063,352

3,486,188

SHAREHOLDERS' FUNDS

4,063,552

3,486,388

Company's profit for the financial year

3,995,164

3,997,531

The financial statements were approved by the Board of Directors and authorised for issue on 21 April 2026 and were signed on its behalf by:

Mr S Savva - Director

Mr D Koutsou - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2023

200

4,341,888

4,342,088

Changes in equity

Dividends

-

(1,723,108

)

(1,723,108

)

Total comprehensive income

-

4,752,118

4,752,118

Balance at 30 September 2024

200

7,370,898

7,371,098

Changes in equity

Dividends

-

(3,418,000

)

(3,418,000

)

Total comprehensive income

-

4,241,079

4,241,079

Balance at 30 September 2025

200

8,193,977

8,194,177

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2023

200

1,211,765

1,211,965

Changes in equity

Dividends

-

(1,723,108

)

(1,723,108

)

Total comprehensive income

-

3,997,531

3,997,531

Balance at 30 September 2024

200

3,486,188

3,486,388

Changes in equity

Dividends

-

(3,418,000

)

(3,418,000

)

Total comprehensive income

-

3,995,164

3,995,164

Balance at 30 September 2025

200

4,063,352

4,063,552

Cash flows from operating activities

Cash generated from operations

1

7,135,944

3,710,126

Interest paid

(54,260

)

(45,988

)

Interest element of hire purchase payments paid

(37,851

)

(18,970

)

Tax paid

(2,548,682

)

(315,938

)

Net cash from operating activities

4,495,151

3,329,230

Cash flows from investing activities

Purchase of tangible fixed assets

(91,685

)

(114,858

)

Purchase of fixed asset investments

(13,250

)

(13,640

)

Sale of tangible fixed assets

121,415

14,990

Interest received

43,919

24,068

Net cash from investing activities

60,399

(89,440

)

Cash flows from financing activities

Loan repayments in year

(170,080

)

(169,825

)

Capital repayments in year

(46,945

)

75,120

Equity dividends paid

(3,418,000

)

(1,723,108

)

Net cash from financing activities

(3,635,025

)

(1,817,813

)

Increase in cash and cash equivalents

920,525

1,421,977

Cash and cash equivalents at beginning of year

2

4,813,879

3,391,902

Cash and cash equivalents at end of year

2

5,734,404

4,813,879

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

2025

2024

£

£

Profit before taxation

5,696,844

6,460,140

Depreciation charges

55,205

46,857

Loss on disposal of fixed assets

3,942

25,760

Decrease in amt recoverable on contract

1,341,078

-

Amount owed to participating interests

(335,947

)

-

Finance costs

92,111

64,958

Finance income

(43,919

)

(24,068

)

6,809,314

6,573,647

Decrease/(increase) in stocks

187,990

(53,310

)

Decrease/(increase) in trade and other debtors

251,736

(4,637,669

)

(Decrease)/increase in trade and other creditors

(113,096

)

1,827,458

Cash generated from operations

7,135,944

3,710,126

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

£

£

Cash and cash equivalents

5,734,404

4,813,879

Year ended 30 September 2024

30.9.24

1.10.23

£

£

Cash and cash equivalents

4,813,879

3,391,902

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.24

Cash flow

At 30.9.25

£

£

£

Net cash

Cash at bank

4,813,879

920,525

5,734,404

4,813,879

920,525

5,734,404

Debt

Finance leases

(259,341

)

46,945

(212,396

)

Debts falling due within 1 year

(184,066

)

26

(184,040

)

Debts falling due after 1 year

(269,416

)

170,054

(99,362

)

(712,823

)

217,025

(495,798

)

Total

4,101,056

1,137,550

5,238,606

1.	STATUTORY INFORMATION

Frixos Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The Group and individual financial statements of Frixos Group Ltd 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.

These consolidated and separate financial statements have been prepared on a going concern basis, under the historical cost convention.

The Company has taken advantage of the exemption in section 408 of the Companies Act from presenting its individual profit and loss account.

The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continues to adopt the going concern basis of accounting in preparing the financial statements.

The directors regards the foreseeable future as no less than twelve months following the publication of these annual financial statements. The directors have considered the Group's balance sheet position as at the year end, its working capital forecasts and projections, taking account of possible changes in trading performance and the current state of its operating market, and is satisfied that for the foreseeable future, the Group's financial position is improving and will enable the company to remain in operational existence. In addition, the directors and the shareholders have agreed to provide continuing financial support as and when required to enable the Group to continue in operational existence. Consequently, the directors considers it to be appropriate to prepare the financial statements on a going concern basis.

Basis of consolidation

The Group consolidated financial statements include the financial statements of the company and its subsidiary undertaking for the period ended 30 September 2025.

A subsidiary is an entity controlled by the Group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Where the Group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

The Group have adopted aligned accounting policies.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

All intra-group transactions, balances, income and expenses are eliminated on consolidation. Adjustments are made to eliminate the profit or loss arising on transactions with associates to the extent of the Group’s interest in the entity.

Turnover

Turnover is based on the value of goods, services and the value of work supplied and executed during the year. Turnover excludes value added tax.

Turnover is recognised at the point the group has transferred to the buyer the significant risks and rewards of ownership of the goods. Turnover is recognised on delivery of goods, when the amount of turnover can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company.

The group issues Applications for Payment to customers at billing milestones, summarising cumulative work completed to date less prior payments and retentions. Customers raise self-billing invoices/certifications for the amount their surveyor has approved as properly completed, and payment is made within the agreed credit period. Turnover is recorded in the accounting system on receipt of funds.

Where Applications for Payment have been issued by the year-end date but the corresponding customer self-billing invoice/certification and bank receipt have not yet been received, the outstanding amount is recognised as Amounts Recoverable on Contract (AROC) within debtors. AROC represents accrued income for work completed and submitted for payment. The carrying value of AROC is assessed for recoverability based on post year-end customer certifications and receipts received. Any Application not considered recoverable is excluded from the AROC balance.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

- 10% on cost

Plant and machinery

- 10% on reducing balance

Fixtures and fittings

- 10% on reducing balance

Computer equipment

- 25% on reducing balance

The company has a policy not to depreciate in the year of acquisition but to fully depreciate in the year of

disposal.

Stocks

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

Costs include all costs incurred in bringing each product to its present location and condition under first-in

first-out (FIFO) basis.

Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.