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REGISTERED NUMBER: 03387976 (England and Wales)

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 August 2025

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Contents of the Financial Statements

FOR THE YEAR ENDED 31 AUGUST 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 5 |

Statement of Comprehensive Income | 8 |

Balance Sheet | 9 |

Statement of Changes in Equity | 10 |

Notes to the Financial Statements | 11 |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED

Company Information

FOR THE YEAR ENDED 31 AUGUST 2025

| DIRECTORS: | J N Harrison

| C G Clarke

| N Butcher

| REGISTERED OFFICE: | Unit 1 Landmark House

| Wirrall Park Road

| Glastonbury

| Somerset

| BA6 9FR

| REGISTERED NUMBER: | 03387976 (England and Wales)

| AUDITORS: | MHA Audit Services LLP

| Statutory Auditor

| Elfed House

| Oak Tree Court

| Cardiff Gate Business Park

| CARDIFF

| County of Cardiff

| CF23 8RS

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Strategic Report

FOR THE YEAR ENDED 31 AUGUST 2025

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

REVIEW OF BUSINESS

As part of our longer-term strategy, this year we continued to invest heavily in the development of our next generation cloud native solutions. Our research and development activity accelerated with product launches and enhancements continuing as planned.

The uncertainty as to the impact on the Business of the wider economic backdrop has been considered as part of the business' adoption of the going concern basis. The impact has been limited as the company's revenue is derived from providing services to the education sector who have and will continue to trade throughout the economic cycles. The business has transitioned to a hybrid working model, providing greater flexibility without compromising on service capability.

The resilience of the business is underpinned by a large proportion of the company revenue being generated by recurring software maintenance revenue as opposed to a requirement to make incremental sales.

PRINCIPAL RISKS AND UNCERTAINTIES

Global economy

In common with most companies across all sectors, the ripple effect of the uncertainties in the UK and Global markets represents a challenge. However, market share and customer retention remain strong.

Technology

Continuing to offer relevant and reliable solutions to the sector we operate in, remains a key strategic consideration. Processes are in place to ensure we continue to offer our sector leading edge solutions through developing our own next generation solutions as well as developing key partnerships and considering appropriate technical acquisitions.

FUTURE DEVELOPMENTS

The group continues to develop its product offering to support the education sector and looks forward to the future with confidence.

During the year the group implemented a cost reduction programme which on a full year basis will reduce the cost base by more than £1.5m.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors use many performance indicators, both financial and non-financial, to monitor the group's position. These include, but are not limited to revenue, margin, cash flow, measured monthly against budgets and forecasts.

In addition, many of our teams employ agile - methodologies which allows us to clearly monitor performance and progress toward agreed business objectives.

KPI's |  | 2025 |  | 2024 |

Invoiced sales (£'000) |  | 4,980 |  | 4,063 |

Recognised Margin % |  | 71% |  | 72% |

Deferred income (£'000) |  | 2,283 |  | 2,421 |

ON BEHALF OF THE BOARD:

N Butcher - Director

15 December 2025

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Report of the Directors

FOR THE YEAR ENDED 31 AUGUST 2025

The directors present their report with the financial statements of the company for the year ended 31 August 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 August 2025.

DIRECTORS

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

J N Harrison

C G Clarke

Other changes in directors holding office are as follows:

S Bilboe - resigned 29 October 2024

N Butcher - appointed 29 October 2024

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with s.414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial risk management.

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 company'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 company 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 company'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 company's auditors are aware of that information.

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Report of the Directors

FOR THE YEAR ENDED 31 AUGUST 2025

AUDITORS

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.

MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

N Butcher - Director

15 December 2025

Report of the Independent Auditors to the Members of

West Country Business Systems

(Holdings) Limited

Opinion

We have audited the financial statements of West Country Business Systems (Holdings) Limited (the 'company') for the year ended 31 August 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 August 2025 and of its loss 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 company 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 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 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 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 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

West Country Business Systems

(Holdings) Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | 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 three, 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

- |  | Enquiry of entity staff to identify any instances of non-compliance with laws and regulations; |

- |  | Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |

- |  | Reviewing minutes of meetings of those charged with governance |

- |  | Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. |

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/Our-Work/Audit/Audit-andassurance/Standards-and-guidance/Standards-and-guidance-for-auditors/A uditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report.

Report of the Independent Auditors to the Members of

West Country Business Systems

(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.

Laura Farrow MSc BSc FCA (Senior Statutory Auditor)

for and on behalf of MHA Audit Services LLP

Statutory Auditor

CARDIFF

CF23 8RS

17 December 2025

MHA is the trading name of MHA Audit Services LLP, a limited liability

partnership in England and Wales (registered number OC455542)

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Statement of Comprehensive Income

FOR THE YEAR ENDED 31 AUGUST 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 3,442,817 |  | 3,506,845 |  |

Cost of sales | (998,779 | ) | (987,730 | ) |

GROSS PROFIT | 2,444,038 |  | 2,519,115 |  |

Administrative expenses | (3,455,592 | ) | (4,288,304 | ) |

(1,011,554 | ) | (1,769,189 | ) |

Other operating income | 4 | 370,361 |  | 347,295 |  |

OPERATING LOSS | 6 | (641,193 | ) | (1,421,894 | ) |

Interest payable and similar expenses | 7 | (4,863 | ) | (3,655 | ) |

LOSS BEFORE TAXATION | (646,056 | ) | (1,425,549 | ) |

Tax on loss | 8 | 109,051 |  | - |  |

LOSS FOR THE FINANCIAL YEAR | (537,005 | ) | (1,425,549 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (537,005 | ) | (1,425,549 | ) |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Balance Sheet

31 AUGUST 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 261,373 |  | 522,625 |  |

Tangible assets | 10 | 49,888 |  | 51,708 |  |

Investments | 11 | - |  | - |  |

311,261 |  | 574,333 |  |

CURRENT ASSETS

Debtors | 12 | 3,783,735 |  | 4,682,124 |  |

Cash at bank and in hand | 147 |  | 118 |  |

3,783,882 |  | 4,682,242 |  |

CREDITORS

Amounts falling due within one year | 13 | (3,367,146 | ) | (3,905,519 | ) |

NET CURRENT ASSETS | 416,736 |  | 776,723 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 727,997 |  | 1,351,056 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (2,390,030 | ) | (2,476,084 | ) |

NET LIABILITIES | (1,662,033 | ) | (1,125,028 | ) |

CAPITAL AND RESERVES

Called up share capital | 18 | 133,500 |  | 133,500 |  |

Share premium | 19 | 40,750 |  | 40,750 |  |

Capital redemption reserve | 19 | 45,750 |  | 45,750 |  |

Retained earnings | 19 | (1,882,033 | ) | (1,345,028 | ) |

SHAREHOLDERS' FUNDS | (1,662,033 | ) | (1,125,028 | ) |

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

N Butcher - Director

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Statement of Changes in Equity

FOR THE YEAR ENDED 31 AUGUST 2025

| Called up |  | Capital |

| share |  | Retained |  | Share |  | redemption |  | Total

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

£ | £ | £ | £ | £ |

Balance at 1 September 2023 | 133,500 |  | 80,521 |  | 40,750 |  | 45,750 |  | 300,521 |  |

Changes in equity

Total comprehensive income | - |  | (1,425,549 | ) | - |  | - |  | (1,425,549 | ) |

Balance at 31 August 2024 | 133,500 |  | (1,345,028 | ) | 40,750 |  | 45,750 |  | (1,125,028 | ) |

Changes in equity

Total comprehensive income | - |  | (537,005 | ) | - |  | - |  | (537,005 | ) |

Balance at 31 August 2025 | 133,500 |  | (1,882,033 | ) | 40,750 |  | 45,750 |  | (1,662,033 | ) |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements

FOR THE YEAR ENDED 31 AUGUST 2025

1. | STATUTORY INFORMATION

| West Country Business Systems (Holdings) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

| The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

| Going concern

| West Country Business Systems (Holdings) Limited is part of a group treasury function, headed up by its ultimate parent Westleigh Investments Holdings Limited. Due to not having its own funding facility, West Country Business Systems (Holdings) Limited is reliant on the support of the parent and its shareholders to continue as a going concern.

| As at 31 August 2025, the Balance Sheet is showing net liabilities of £1,662,033 (2024: £1,125,028). After making enquiries and reviewing forecasts to 31 December 2026, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

| In addition, although not legally obliged, the directors have confirmed that they will continue to financially support the company throughout the going concern period to meet liabilities as they fall due. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirement of paragraph 33.7.

| Preparation of consolidated financial statements

| The financial statements contain information about West Country Business Systems (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, WCBS Group Limited, Unit D, De Clare House, Sir Alfred Owen Way, Pontygwindy Industrial Estate, Caerphilly, Wales, CF83 3HU.

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Critical accounting judgements and key sources of estimation uncertainty

| Many of the amounts included in the financial statements involve the use of judgement and/or estimation. These judgements and estimates are based on management's best knowledge of the relevant facts and circumstances, having regards to prior experience, but actual results may differ from the amounts included in the financial statements. Information about such judgements and estimation is contained in the accounting policies and/or the notes to the financial statements.

| The areas where the directors consider there to be significant areas of judgements or estimation are:

| Going concern

| The directors exercise judgement when preparing and reviewing forecasts, and considering whether the company is a going concern.

| Turnover

| Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

| Software sales are recognised in the period in which the software is installed. Hardware sales are recognised in the period in which the hardware is delivered.

| Software maintenance income is invoiced periodically in advance. It is held as deferred income in the balance sheet and released to turnover on a straight line basis over the period to which it relates.

| Training income is invoiced in advance and released to turnover on delivery of service.

| Interest income

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

| Borrowing costs

| All borrowing costs are recognised in profit or loss in the year in which they are incurred.

| Goodwill

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of 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 Statement of Comprehensive Income over its useful economic life of 8 years.

| Tangible fixed assets

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

| Depreciation is provided on the following basis:

| Fixtures & Fittings |  | - 20% reducing balance |  |

| Office Equipment |  | - 20% reducing balance |  |

| 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.

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Investments in subsidiaries

| Investments in subsidiaries are measured at cost less accumulated impairment, and includes deferred consideration.

| Financial instruments

| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

| Debtors

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

| Creditors

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

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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

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

| Research and development

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

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

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

| Pension costs and other post-retirement benefits

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

| Provisions for liabilities

| Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

| When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. | TURNOVER

| The turnover and loss before taxation are attributable to the one principal activity of the company.

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

| 2025 |  | 2024

£ | £ |

| United Kingdom | 3,426,883 |  | 3,501,945 |  |

| Rest of the world | 15,934 |  | 4,900 |  |

3,442,817 |  | 3,506,845 |  |

4. | OTHER OPERATING INCOME

| 2025 |  | 2024

£ | £ |

| Management charges receivable | 370,361 |  | 347,295 |  |

5. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,127,565 |  | 2,528,843 |  |

| Social security costs | 252,413 |  | 264,152 |  |

| Other pension costs | 72,926 |  | 90,213 |  |

2,452,904 |  | 2,883,208 |  |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

5. | EMPLOYEES AND DIRECTORS - continued

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

| 2025 |  | 2024

| Management | 5 |  | 8 |  |

| Administration | 3 |  | 1 |  |

| Development and products | 17 |  | 20 |  |

| Sales and marketing | 4 |  | 6 |  |

| Service and support | 15 |  | 23 |  |

44 |  | 58 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 91,746 |  | 100,800 |  |

| Directors' pension contributions to money purchase schemes | 3,397 |  | 4,000 |  |

| During the year retirement benefits were accruing to 1 director (2024: 1) in respect of defined contribution pension schemes.

6. | OPERATING LOSS

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

| 2025 |  | 2024

£ | £ |

| Other operating leases | 30,000 |  | 30,082 |  |

| Depreciation - owned assets | 11,421 |  | 12,928 |  |

| Goodwill amortisation | 261,252 |  | 261,252 |  |

| Auditors' remuneration | 22,500 |  | 21,150 |  |

| Foreign exchange differences | - |  | (100 | ) |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| HMRC late payment interest | 4,863 |  | 3,655 |  |

8. | TAXATION

| Analysis of the tax credit

| The tax credit on the loss for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | (109,051 | ) | - |  |

| Tax on loss | (109,051 | ) | - |  |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

8. | TAXATION - continued

| Reconciliation of total tax credit included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Loss before tax | (646,056 | ) | (1,425,549 | ) |

| Loss multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | (161,514 | ) | (356,387 | ) |

| Effects of:

| Expenses not deductible for tax purposes | - |  | 346 |  |

| Fixed asset differences | - |  | 68,319 |  |

| respect of previous periods - |

| for changes in tax rates |

| R&D tax credit refund |

| Adjustment in R&D tax credit leading to a decrease in the tax charge | (109,051 | ) | - |  |

| corporation tax rate |

| Tax losses arising | 161,514 |  | 287,722 |  |

| Total tax credit | (109,051 | ) | - |  |

9. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 September 2024

| and 31 August 2025 | 2,090,000 |  |

| AMORTISATION

| At 1 September 2024 | 1,567,375 |  |

| Amortisation for year | 261,252 |  |

| At 31 August 2025 | 1,828,627 |  |

| NET BOOK VALUE

| At 31 August 2025 | 261,373 |  |

| At 31 August 2024 | 522,625 |  |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

10. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Office |

| Fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 September 2024 | 83,701 |  | 271,769 |  | 355,470 |  |

| Additions | - |  | 9,601 |  | 9,601 |  |

| At 31 August 2025 | 83,701 |  | 281,370 |  | 365,071 |  |

| DEPRECIATION

| At 1 September 2024 | 69,972 |  | 233,790 |  | 303,762 |  |

| Charge for year | 2,746 |  | 8,675 |  | 11,421 |  |

| At 31 August 2025 | 72,718 |  | 242,465 |  | 315,183 |  |

| NET BOOK VALUE

| At 31 August 2025 | 10,983 |  | 38,905 |  | 49,888 |  |

| At 31 August 2024 | 13,729 |  | 37,979 |  | 51,708 |  |

11. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 September 2024

| and 31 August 2025 | 616,309 |  |

| PROVISIONS

| At 1 September 2024

| and 31 August 2025 | 616,309 |  |

| NET BOOK VALUE

| At 31 August 2025 | - |  |

| At 31 August 2024 | - |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Abattia Group Limited

| Registered office: Landmark House, Wirrall Park Road, Glastonbury, Somerset, BA6 9FR

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| West Country Business Systems Limited

| Registered office: Landmark House, Wirrall Park Road, Glastonbury, Somerset, BA6 9FR

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

11. | FIXED ASSET INVESTMENTS - continued

| WCBS International Limited

| Registered office: Suite D, 16/F, On Hing Building, 1-9 On Hing Terrace, Central, Hong Kong

| Nature of business: Supply and support of computer systems

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| KSM Online Limited

| Registered office: Landmark House, Wirrall Park Road, Glastonbury, Somerset, BA6 9FR

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

12. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 482,390 |  | 635,522 |  |

| Other debtors | 10,327 |  | - |  |

| Prepayments and accrued income | 262,922 |  | 318,506 |  |

755,639 |  | 954,028 |  |

| Amounts falling due after more than one year:

| Amounts owed by group undertakings | 3,028,096 |  | 3,728,096 |  |

| Aggregate amounts | 3,783,735 |  | 4,682,124 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 15) | 486,597 |  | 815,991 |  |

| Other loans (see note 15) | 8,779 |  | 10,289 |  |

| Trade creditors | 229,672 |  | 238,647 |  |

| Amounts owed to group undertakings | - |  | 6,087 |  |

| Social security and other taxes | 61,459 |  | 118,691 |  |

| VAT | 166,088 |  | 184,725 |  |

| Other creditors | 37,994 |  | 25,620 |  |

| Accruals and deferred income | 2,376,557 |  | 2,505,469 |  |

3,367,146 |  | 3,905,519 |  |

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

2025 | 2024 |

£ | £ |

| Other loans (see note 15) | - |  | 8,779 |  |

| Amounts owed to group undertakings | 2,390,030 |  | 2,467,305 |  |

2,390,030 |  | 2,476,084 |  |

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

15. | LOANS

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

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 486,597 |  | 815,991 |  |

| Other loans | 8,779 |  | 10,289 |  |

495,376 |  | 826,280 |  |

| Amounts falling due between one and two years:

| Other loans - 1-2 years | - |  | 8,779 |  |

| The bank borrowing is secured by a debenture including a fixed charge over all present freehold and leasehold property; first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and first floating charge over all assets and undertaking both present and future.

16. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 15,461 |  | 30,615 |  |

| Between one and five years | - |  | 15,000 |  |

15,461 |  | 45,615 |  |

| Total lease payments recognised as an expense in the year were £31,497 (2024: £31,999).

17. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 486,597 |  | 815,991 |  |

18. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 133,500 | Ordinary | £1 | 133,500 |  | 133,500 |  |

| There is a single class of ordinary shares. There are no restrictions on dividends and the repayment of capital.

WEST COUNTRY BUSINESS SYSTEMS

(HOLDINGS) LIMITED (REGISTERED NUMBER: 03387976)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

19. | RESERVES

| Share premium account

| The share premium account includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

| Capital redemption reserve

| The capital redemption reserve includes amounts transferred following redemption or purchase of a company's own shares.

| Retained earnings

| Profit and loss account includes all current and prior period profits and losses.

20. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

| The company made contributions of £72,926 (2024: £90,213) during the year. At year end there were outstanding contributions of £14,479 (2024: £15,978).

21. | CONTINGENT LIABILITIES

| There is an unlimited multilateral cross guarantee and debenture in place in relation to all members of the group headed by Westleigh Investments Holdings Limited. The debenture includes a fixed charge over all present freehold and leasehold property, a fixed charge over book and other debtors, chattels, goodwill and uncalled capital, both present and future, and first floating charge over all assets and undertakings both present and future.

22. | RELATED PARTY DISCLOSURES

| 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.

23. | ULTIMATE CONTROLLING PARTY

| The Company is a wholly owned subsidiary of WCBS Group Limited (formerly Westleigh Investments Limited) and its ultimate parent company is Westleigh Investments Holdings Limited ("WIHL"). Both companies are incorporated in England and Wales.

| WCBS Group Limited prepare group financial statements. Copies of the group accounts can be obtained from Landmark House, Wirrall Park Road, Glastonbury, England, BA6 9FR.

| The ultimate controlling party of WIHL is director GC Clarke by virtue of his majority holding of the share capital.