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REGISTERED NUMBER: 03725452 (England and Wales)

| Group Strategic Report, Report of the Directors and |

| Consolidated Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Comex 2000 (UK) Limited |

| and its subsidiary |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Contents of the Consolidated Financial Statements

for the Year Ended 31 March 2025

| Page |

Company information | 1 |

Group strategic report | 2 |  | to |  | 3

Report of the directors | 4 |  | to |  | 6

Report of the independent auditors | 7 |  | to |  | 10

Consolidated statement of 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 |  | to |  | 18

Notes to the consolidated financial statements | 19 |  | to |  | 32

Comex 2000 (UK) Limited

and its subsidiary

Company Information

for the Year Ended 31 March 2025

| Directors: | M Philby

| N K Smith

| Registered office: | 3 Stadium Business Court

| Millennium Way, Pride Park

| Derby

| DE24 8HP

| Registered number: | 03725452 (England and Wales)

| Senior statutory auditor: | Matt Storey, ACA, FCCA, BFP

| Auditors: | Sumer Audit

| Bank House

| Broad Street

| Spalding

| Lincolnshire

| PE11 1TB

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Group Strategic Report

for the Year Ended 31 March 2025

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

Review of business

The directors are pleased to present this year's financial statements.

The telecoms industry has seen significant changes during the year with the UK fibre industry transitioning from a rapid, investment-heavy build phase to a competitive consolidation stage. Market growth is shifting toward subscriber acquisition, driving inevitable consolidation due to high overbuild and capital constraints.

Consequently, the group has been impacted by the ceasing of multiple build projects and subsequent restructuring activities resulting in turnover for the group decreasing to £98.2m from £111.7m in the prior year, a reduction of £13.5m or 12.1%. Operating profit dropped to breakeven from £2.6m, a decrease of £2.6m. As a percentage of turnover this is a return down from 2.3% in the prior year.

Significant growth is though now in place with major expansion in new areas in the UK with an existing customer following the recent signing of long-term contracts.

Cashflows from operations in the year were £(5.0m) and capital expenditure was £0.8m. With cash reserves of £7.2m and net assets of £22.1m at the balance sheet date, the group has a strong financial base to fund the future growth.

The directors believe the financial statements show a true and fair view of the group and company's position at the year end, adequately represent the business moving forward, and look forward to reporting renewed success in the future.

Financial Key Performance Indicators

The key performance indicators of the group are set out below:

| 2025 |  | 2024 |  | Change |  |

| £ |  | £ |  | % |  |

Turnover |  | 98,164 |  | 111,693 |  | 12.1 |  |

Operating profit |  | 14 |  | 2,620 |  |  |

Profit for the financial year |  | 217 |  | 2,204 |  |  |

Principal risks and uncertainties

The management of the business and the execution of the group's strategy are subject to a number of risks. The key business risks and uncertainties affecting the group are considered to relate to fuel costs, inflationary price pressure, loss of key personnel, and future government regulations affecting the industry.

The group is well placed to manage the cost base implications both internally and working with customers and suppliers. The demand for telecommunications services remains buoyant and there is no indication from the market to suggest otherwise.

Management have adopted a rolling forecast which is routinely updated to project and model the implications of all of the key risks facing the business in order to proactively manage the challenges the business faces.

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Group Strategic Report

for the Year Ended 31 March 2025

Section 172(1) statement

The board of directors of Comex 2000 (UK) Limited and its subsidiaries consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its member (having regard to the stakeholders and matters set out in s172(1)(a-f) of the Act) in the decisions taken during the year ended 31 March 2025.

- Our plan was designed to have a long-term beneficial impact on the group and to contribute to its success in delivering a better quality, more reliable telecommunications network across the United Kingdom. We will continue to operate our business within budgetary controls and in line with our regulatory targets.

- Our employees are fundamental to the delivery of our plan. We aim to be a responsible employer and in our approach to the pay and benefits our employees receive. The health, safety and well-being of our employees is one of our primary considerations in the way we do business.

- Our duty is to maintain, upgrade and expand networks, and connect to them residential and business customers. We work closely with our customers to ensure work is carried out to agreed timescales and high standards. We also aim to act responsibly and fairly in how we engage with our suppliers.

- We pride ourselves in delivering high standard telecommunication services.

- As the board of directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours.

As the board of Directors, our intention is to behave responsibly toward our shareholder and treat him fairly.

Going concern

The Directors continuously assess the impact of the changing economic conditions and minimise the risks to the business to ensure business continuity. The group has well established relationships with customers and suppliers. Internal financial forecasts and sensitivity analysis show that the group is expected to remain profitable, generate positive cash flows and meet all liabilities as they fall due well into the foreseeable future. As a consequence, the Directors conclude that the group remains a going concern.

On behalf of the board:

M Philby - Director

13 May 2026

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Report of the Directors

for the Year Ended 31 March 2025

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

Principal activity

The principal activity of the group is providing end-to-end telecoms and digital infrastructure with the majority of work being delivered via long-term alliances and framework contracts.

Dividends

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

Future developments

The directors regularly review the current markets and the group's position within those markets looking for any changes in strategy either required or which would be beneficial to the group. Plans are revised as required at each review. The strategic planning will enable long term continuance of the group in terms of its reliability and results.

Directors

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

M Philby

N K Smith

Disabled employees

The company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training, career development and promotion to disabled employees wherever appropriate.

Engagement with employees

During the year, the policy of providing employees with information about the company including business news and financial performance of the company has continued. This has been delivered through internal media methods through which employees have also been encouraged to present their suggestions and views on the company's performance. Regular meetings are held between local management and employees to allow a free flow of information and ideas. Employees are encouraged to participate in the group's performance being rewarded by discretionary bonuses where appropriate.

Engagement with suppliers, customers and others

We work closely with our customers to ensure work is carried out to agreed timescales and high standards. We also aim to act responsibly and fairly in how engage with our suppliers and others.

Streamlined energy and carbon reporting

Scope

We have included scope 1 and 2 emissions for our own operations along with scope 3 grey fleet and waste, where possible.

Outcomes

In absolute terms:

All fuels have risen since the baseline year. However, all scopes have reduced since the previous year (2023/24). As can be seen below, scope 1 transport and gaseous emissions remain the dominant emissions source at 6,230 tonnes CO2e (7,372 tonnes CO2e last year and 4,330 tonnes CO2e in year one).

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Report of the Directors

for the Year Ended 31 March 2025

Scope 2 electricity emissions at 77 tonnes compare favourably against last year at 97.37 tonnes CO2e. However, they have increased from 12 tonnes CO2e at year one. This should improve further as the national grid decarbonises. The 2019/20 figure for electricity appears low and cannot be verified due to lack of data availability pre-2022.

Scope 3 grey fleet, waste and recycling are now at 122 tonnes, a reduction from 235 tonnes CO2e, last year and from 178 tonnes CO2e, in year one. For this year we are reporting water and hotel use. The latter makes a large difference and increases this year's scope 3s to 187 tonnes.

It is understood that there have been no F gas leaks reported from maintenance this year or the previous year.

Total CO2e emissions for this year are 6,493.79 (2023/24: 7,704.09) tonnes compared with 4,520 tonnes in 2019/20 (Baseline year).

The increases are in absolute terms and result from significant growth within the company.

Intensity metrics year ended 31 March 2025

- Tonnes of scope 1, scope 2 and 3 CO2e per million £ of turnover: 0.07 tonnes

- Tonnes of scope 1, scope 2 and 3 CO2e per m2 of area: 0.31 tonnes

- Tonnes of scope 1, scope 2 and 3 CO2e per headcount: 6.9 tonnes

Energy Efficiency

During the Company's fifth SECR year (1st April 2024 to 31st March 2025), they have seen an improvement in their energy efficiency through actions following their ESOS Phase 2 and Phase 3 reports.

Comex 2000 have invested significantly in addressing energy efficiency measures and have actioned all bar one of the ESOS Phase 3 recommendations, completing the following:

- Training on the use of office heaters

- Behavioural poster campaign on monitor and screen use

- Behavioural poster campaign A/C comfort zones

- Training on the opening of windows

- PA testing to allow for the removal of portable heaters

- Checklist solutions to avoid the blocking of external AC units

- Lighting now all LED with appropriate controls.

Verification & External Assurance

We have gathered all required data and contracted the services of CLS Energy (Consultancy) Ltd to collate, assess and deliver this assessment and, as such, it is an independent assessment. CLS Energy have also looked over previous data provided since 2018/2019 - the pre baseline year.

More detailed information is available in our ESOS report upon request to SSHQ@comex2000uk.com

Disclosure in the strategic report

The directors, in accordance with section 414C (11) of the Company Act 2006 Regulations 2013, have prepared the group's strategic report as required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations as per page 1.

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Report of the Directors

for the Year Ended 31 March 2025

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

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

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

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

Auditors

The auditors, Sumer Audit Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

M Philby - Director

13 May 2026

Report of the Independent Auditors to the Members of

Comex 2000 (UK) Limited

Opinion

We have audited the financial statements of Comex 2000 (UK) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 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 31 March 2025 and of the group's profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group strategic report and the Report of the directors, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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

Comex 2000 (UK) 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 six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Comex 2000 (UK) Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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 recognise non-compliance with applicable laws and regulations;

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

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including such as the Companies Act 2006 and taxation legislation.

- 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 company'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;

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

- reviewing correspondence with HMRC.

Report of the Independent Auditors to the Members of

Comex 2000 (UK) Limited

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.

Matt Storey, ACA, FCCA, BFP (Senior Statutory Auditor)

for and on behalf of Sumer Audit

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

13 May 2026

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Consolidated Statement of Comprehensive Income

for the Year Ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

Turnover | 4 | 98,164,103 |  | 111,692,537 |  |

Cost of sales | 70,779,172 |  | 82,101,781 |  |

Gross profit | 27,384,931 |  | 29,590,756 |  |

Administrative expenses | 27,370,484 |  | 26,970,290 |  |

Operating profit | 6 | 14,447 |  | 2,620,466 |  |

Interest receivable and similar income | 211,207 |  | 214,266 |  |

225,654 |  | 2,834,732 |  |

Interest payable and similar expenses | 7 | 8,176 |  | 7,045 |  |

Profit before taxation | 217,478 |  | 2,827,687 |  |

Tax on profit | 8 | 61,232 |  | 624,055 |  |

Profit for the financial year | 156,246 |  | 2,203,632 |  |

Other comprehensive income | - |  | - |  |

Total comprehensive income for the year | 156,246 |  | 2,203,632 |  |

Profit attributable to:

Owners of the parent | 156,246 |  | 2,203,632 |  |

Total comprehensive income attributable to:

Owners of the parent | 156,246 |  | 2,203,632 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Consolidated Statement of Financial Position

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Tangible assets | 10 | 3,023,409 |  | 3,030,114 |  |

Investments | 11 | - |  | - |  |

3,023,409 |  | 3,030,114 |  |

Current assets

Stocks | 12 | 915,805 |  | 1,176,587 |  |

Debtors | 13 | 25,470,997 |  | 23,695,781 |  |

Cash at bank | 7,172,181 |  | 12,575,534 |  |

33,558,983 |  | 37,447,902 |  |

Creditors

Amounts falling due within one year | 14 | 13,413,158 |  | 17,753,128 |  |

Net current assets | 20,145,825 |  | 19,694,774 |  |

Total assets less current liabilities | 23,169,234 |  | 22,724,888 |  |

Creditors

Amounts falling due after more than one year | 15 | (334,188 | ) | (33,832 | ) |

Provisions for liabilities | 18 | (602,455 | ) | (614,711 | ) |

Net assets | 22,232,591 |  | 22,076,345 |  |

Capital and reserves

Called up share capital | 19 | 100 |  | 100 |  |

Retained earnings | 20 | 22,232,491 |  | 22,076,245 |  |

Shareholders' funds | 22,232,591 |  | 22,076,345 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2026 and were signed on its behalf by:

M Philby - Director

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Company Statement of Financial Position

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Tangible assets | 10 | 3,023,409 |  | 3,030,114 |  |

Investments | 11 | 100 |  | 100 |  |

3,023,509 |  | 3,030,214 |  |

Current assets

Stocks | 12 | 915,805 |  | 1,176,587 |  |

Debtors | 13 | 25,471,096 |  | 23,695,880 |  |

Cash at bank | 7,172,066 |  | 12,575,378 |  |

33,558,967 |  | 37,447,845 |  |

Creditors

Amounts falling due within one year | 14 | 13,413,158 |  | 17,753,128 |  |

Net current assets | 20,145,809 |  | 19,694,717 |  |

Total assets less current liabilities | 23,169,318 |  | 22,724,931 |  |

Creditors

Amounts falling due after more than one year | 15 | (334,188 | ) | (33,832 | ) |

Provisions for liabilities | 18 | (602,455 | ) | (614,711 | ) |

Net assets | 22,232,675 |  | 22,076,388 |  |

Capital and reserves

Called up share capital | 19 | 100 |  | 100 |  |

Retained earnings | 20 | 22,232,575 |  | 22,076,288 |  |

Shareholders' funds | 22,232,675 |  | 22,076,388 |  |

Company's profit for the financial year | 156,287 |  | 2,203,676 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2026 and were signed on its behalf by:

M Philby - Director

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Consolidated Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2023 | 100 |  | 19,872,613 |  | 19,872,713 |  |

Changes in equity

Total comprehensive income | - |  | 2,203,632 |  | 2,203,632 |  |

Balance at 31 March 2024 | 100 |  | 22,076,245 |  | 22,076,345 |  |

Changes in equity

Total comprehensive income | - |  | 156,246 |  | 156,246 |  |

Balance at 31 March 2025 | 100 |  | 22,232,491 |  | 22,232,591 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Company Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2023 | 100 |  | 19,872,612 |  | 19,872,712 |  |

Changes in equity

Total comprehensive income | - |  | 2,203,676 |  | 2,203,676 |  |

Balance at 31 March 2024 | 100 |  | 22,076,288 |  | 22,076,388 |  |

Changes in equity

Total comprehensive income | - |  | 156,287 |  | 156,287 |  |

Balance at 31 March 2025 | 100 |  | 22,232,575 |  | 22,232,675 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Consolidated Statement of Cash Flows

for the Year Ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (3,227,578 | ) | 10,229,647 |  |

Interest element of hire purchase payments paid | (8,176 | ) | (7,045 | ) |

Tax paid | - |  | (2,119,629 | ) |

Net cash from operating activities | (3,235,754 | ) | 8,102,973 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (391,870 | ) | (1,462,845 | ) |

Sale of tangible fixed assets | - |  | 70,950 |  |

Interest received | 211,207 |  | 214,266 |  |

Net cash from investing activities | (180,663 | ) | (1,177,629 | ) |

Cash flows from financing activities

Loans paid to related parties | (934,212 | ) | (2,600,939 | ) |

Loan repaid from related | - |  | 82,450 |  |

Loan advances received | - |  | 1,000,000 |  |

Loans repaid | (1,000,000 | ) | - |  |

Capital repayments in year | (23,586 | ) | (30,743 | ) |

Amount introduced by directors | - |  | 33,745 |  |

Amount withdrawn by directors | (29,138 | ) | - |  |

Net cash from financing activities | (1,986,936 | ) | (1,515,487 | ) |

(Decrease)/increase in cash and cash equivalents | (5,403,353 | ) | 5,409,857 |  |

Cash and cash equivalents at beginning of year | 2 | 12,575,534 |  | 7,165,677 |  |

Cash and cash equivalents at end of year | 2 | 7,172,181 |  | 12,575,534 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Statement of Cash Flows

for the Year Ended 31 March 2025

1. | Reconciliation of profit before taxation to cash generated from operations

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 217,478 |  | 2,827,687 |  |

| Depreciation charges | 776,739 |  | 708,139 |  |

| Profit on disposal of fixed assets | - |  | (39,167 | ) |

| Finance costs | 8,176 |  | 7,045 |  |

| Finance income | (211,207 | ) | (214,266 | ) |

791,186 |  | 3,289,438 |  |

| Decrease/(increase) in stocks | 260,782 |  | (167,282 | ) |

| (Increase)/decrease in trade and other debtors | (841,004 | ) | 7,092,519 |  |

| (Decrease)/increase in trade and other creditors | (3,438,542 | ) | 14,972 |  |

| Cash generated from operations | (3,227,578 | ) | 10,229,647 |  |

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 31 March 2025

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

£ | £ |

| Cash and cash equivalents | 7,172,181 |  | 12,575,534 |  |

| Year ended 31 March 2024

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

£ | £ |

| Cash and cash equivalents | 12,575,534 |  | 7,165,677 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Statement of Cash Flows

for the Year Ended 31 March 2025

3. | Analysis of changes in net funds

| Other |

| non-cash |

| At 1/4/24 | Cash flow | changes | At 31/3/25

£ | £ | £ | £ |

| Net cash |

| Cash at bank | 12,575,534 |  | (5,403,353 | ) | 7,172,181 |  |

12,575,534 |  | (5,403,353 | ) | 7,172,181 |  |

| Debt

| Finance leases | (65,479 | ) | 23,586 |  | - |  | (420,057 | ) |

(65,479 | ) | 23,586 |  | - |  | (420,057 | ) |

| Total | 12,510,055 |  | (5,379,767 | ) | - |  | 6,752,124 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements

for the Year Ended 31 March 2025

1. | Statutory information

| Comex 2000 (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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

2. | Statement of compliance

| 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.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Financial Reporting Standard 102 - reduced disclosure exemptions

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

| • | the requirement of paragraph 33.7.

| Basis of consolidation

| The consolidated group financial statements consist of the financial statements of the parent company together with all entities controlled by the parent company (it's subsidiaries) and the group's share of its interests in joint ventures and associates.

| All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

| All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred

| Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

3. | Accounting policies - continued

| Significant judgements and estimates

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Provisions

| Included in accruals are amounts for future remedial works required on completed jobs in line with the contracts. These estimates are based on the amount of work completed that is still within the remedial work provisions and the historic costs included on projects.

| Revenue recognition

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Rendering of services

| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:"

| • the amount of revenue can be measured reliably;

| • it is probable that the company will receive the consideration due under the contract;

| • the stage of completion of the contract at the end of the reporting period can be measured reliably; and

| • the costs incurred and the costs to complete the contract can be measured reliably.

| Tangible fixed assets

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

| Freehold property | - | Not depreciated

| IT development | - | 25% on reducing balance

| Leasehold improvements | - | 25% on a straight line basis

| Plant and machinery | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Equipment | - | 25% on reducing balance

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

3. | Accounting policies - continued

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell on a first in first out basis.

| Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

| Financial instruments

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| Taxation

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

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

3. | Accounting policies - continued

| Foreign currencies

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

| 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.

| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produced constant periodic rate of interest on the remaining balance of the liability.

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

| Defined contribution pension scheme

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

| Going concern

| The Directors continuously assess the impact of the changing economic conditions and minimise the risks to the business to ensure business continuity. The group has well established relationships with customers and suppliers. Internal financial forecasts and sensitivity analysis show that the group is expected to remain profitable, generate positive cash flows and meet all liabilities as they fall due well into the foreseeable future.

| The period of assessment which has been covered in the assessment is until at least 12 months following the date of sign off of the financial statements and sees substantial improvement in the results of the company following being awarded additional contracts following the year end.

| As a consequence, the Directors conclude that the group remains a going concern.

4. | Turnover

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

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

| 2025 |  | 2024

£ | £ |

| Optical Cabling Installation | 98,164,103 |  | 111,692,537 |  |

98,164,103 |  | 111,692,537 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

4. | Turnover - continued

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

| 2025 |  | 2024

£ | £ |

| United Kingdom | 98,164,103 |  | 111,692,537 |  |

98,164,103 |  | 111,692,537 |  |

5. | Employees and directors

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 39,918,542 |  | 42,709,903 |  |

| Social security costs | 4,158,510 |  | 4,440,487 |  |

| Other pension costs | 796,865 |  | 793,648 |  |

44,873,917 |  | 47,944,038 |  |

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

| 2025 |  | 2024

| Administrative staff | 163 |  | 148 |  |

| Production staff | 799 |  | 876 |  |

| Management staff | 104 |  | 108 |  |

1,066 |  | 1,132 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 172,060 |  | 166,400 |  |

| Directors' pension contributions to money purchase schemes | 1,321 |  | 1,566 |  |

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

| Money purchase schemes | 2 |  | 2 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

6. | Operating profit

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

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 1,146,893 |  | 1,349,851 |  |

| Other operating leases | 1,429,672 |  | 1,200,960 |  |

| Depreciation - owned assets | 776,739 |  | 710,061 |  |

| Profit on disposal of fixed assets | - |  | (39,167 | ) |

| Auditors' remuneration | 24,467 |  | 18,640 |  |

7. | Interest payable and similar expenses |

| 2025 |  | 2024

£ | £ |

| Hire purchase | 8,176 |  | 7,045 |  |

8. | Taxation

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 73,488 |  | 474,687 |  |

| Deferred tax | (12,256 | ) | 149,368 |  |

| Tax on profit | 61,232 |  | 624,055 |  |

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 217,478 |  | 2,827,687 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 54,370 |  | 706,922 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2,414 |  | 2,561 |  |

| Depreciation in excess of capital allowances | 4,437 |  | 1,478 |  |

| Reversal of prior year overprovision | - |  | (86,906 | ) |

| Tax losses not provided for | 11 |  | - |  |

| Total tax charge | 61,232 |  | 624,055 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

9. | 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.

10. | Tangible fixed assets

| Group

| Freehold |  | IT |  | Leasehold

| property |  | development |  | improvements

£ | £ | £ |

| Cost

| At 1 April 2024 | 389,234 |  | 164,702 |  | 477,308 |  |

| Additions | - |  | 39,022 |  | 62,971 |  |

| At 31 March 2025 | 389,234 |  | 203,724 |  | 540,279 |  |

| Depreciation

| At 1 April 2024 | - |  | 92,228 |  | 304,503 |  |

| Charge for year | - |  | 20,552 |  | 50,643 |  |

| At 31 March 2025 | - |  | 112,780 |  | 355,146 |  |

| Net book value

| At 31 March 2025 | 389,234 |  | 90,944 |  | 185,133 |  |

| At 31 March 2024 | 389,234 |  | 72,474 |  | 172,805 |  |

| Plant and |  | Motor |

| machinery |  | vehicles |  | Equipment |  | Totals

£ | £ | £ | £ |

| Cost

| At 1 April 2024 | 4,081,999 |  | 544,897 |  | 154,020 |  | 5,812,160 |  |

| Additions | 288,317 |  | 379,724 |  | - |  | 770,034 |  |

| At 31 March 2025 | 4,370,316 |  | 924,621 |  | 154,020 |  | 6,582,194 |  |

| Depreciation

| At 1 April 2024 | 1,999,041 |  | 246,886 |  | 139,388 |  | 2,782,046 |  |

| Charge for year | 567,731 |  | 134,161 |  | 3,652 |  | 776,739 |  |

| At 31 March 2025 | 2,566,772 |  | 381,047 |  | 143,040 |  | 3,558,785 |  |

| Net book value

| At 31 March 2025 | 1,803,544 |  | 543,574 |  | 10,980 |  | 3,023,409 |  |

| At 31 March 2024 | 2,082,958 |  | 298,011 |  | 14,632 |  | 3,030,114 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

10. | Tangible fixed assets - continued

| Company

| Freehold |  | IT |  | Leasehold

| property |  | development |  | improvements

£ | £ | £ |

| Cost

| At 1 April 2024 | 389,234 |  | 164,702 |  | 477,308 |  |

| Additions | - |  | 39,022 |  | 62,971 |  |

| At 31 March 2025 | 389,234 |  | 203,724 |  | 540,279 |  |

| Depreciation

| At 1 April 2024 | - |  | 92,228 |  | 304,503 |  |

| Charge for year | - |  | 20,552 |  | 50,643 |  |

| At 31 March 2025 | - |  | 112,780 |  | 355,146 |  |

| Net book value

| At 31 March 2025 | 389,234 |  | 90,944 |  | 185,133 |  |

| At 31 March 2024 | 389,234 |  | 72,474 |  | 172,805 |  |

| Plant and |  | Motor |

| machinery |  | vehicles |  | Equipment |  | Totals

£ | £ | £ | £ |

| Cost

| At 1 April 2024 | 4,081,998 |  | 544,898 |  | 154,020 |  | 5,812,160 |  |

| Additions | 288,317 |  | 379,724 |  | - |  | 770,034 |  |

| At 31 March 2025 | 4,370,315 |  | 924,622 |  | 154,020 |  | 6,582,194 |  |

| Depreciation

| At 1 April 2024 | 1,999,040 |  | 246,887 |  | 139,388 |  | 2,782,046 |  |

| Charge for year | 567,731 |  | 134,161 |  | 3,652 |  | 776,739 |  |

| At 31 March 2025 | 2,566,771 |  | 381,048 |  | 143,040 |  | 3,558,785 |  |

| Net book value

| At 31 March 2025 | 1,803,544 |  | 543,574 |  | 10,980 |  | 3,023,409 |  |

| At 31 March 2024 | 2,082,958 |  | 298,011 |  | 14,632 |  | 3,030,114 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

11. | Fixed asset investments

| Company

| Shares in

| group

| undertakings

£ |

| Cost

| At 1 April 2024

| and 31 March 2025 | 100 |  |

| Net book value

| At 31 March 2025 | 100 |  |

| At 31 March 2024 | 100 |  |

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

| Subsidiary

| Comex Civils Limited

| Registered office: 3 Millennium Way, Pride Park, Derby, England, DE24 8HP

| Nature of business: Civil Engineering

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

12. | Stocks

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Raw materials | 915,805 |  | 1,176,587 |  | 915,805 |  | 1,176,587 |  |

13. | Debtors

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due within one year: |

| Trade debtors | 9,127,972 |  | 8,160,750 |  | 9,127,972 |  | 8,160,750 |  |

| Amounts owed by group undertakings | - |  | - |  | 99 |  | 99 |  |

| Amounts owed by other related parties | 4,963,580 |  | 4,029,368 |  | 4,963,580 |  | 4,029,368 |  |

| Tax | 1,116,817 |  | 1,116,817 |  | 1,116,817 |  | 1,116,817 |  |

| Prepayments and accrued income | 10,012,628 |  | 8,811,267 |  | 10,012,628 |  | 8,811,267 |  |

25,220,997 |  | 22,118,202 |  | 25,221,096 |  | 22,118,301 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

13. | Debtors - continued

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due after more than one | year: |

| Trade debtors | 250,000 |  | 1,577,579 |  | 250,000 |  | 1,577,579 |  |

| Aggregate amounts | 25,470,997 |  | 23,695,781 |  | 25,471,096 |  | 23,695,880 |  |

14. | Creditors: amounts falling due within one year |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts (see note 16) | 85,869 |  | 31,647 |  | 85,869 |  | 31,647 |  |

| Trade creditors | 5,763,146 |  | 6,951,424 |  | 5,763,146 |  | 6,951,424 |  |

| Corporation tax | 73,488 |  | - |  | 73,488 |  | - |  |

| Social security and other taxes | 1,097,972 |  | 1,476,590 |  | 1,097,972 |  | 1,476,590 |  |

| VAT | 1,784,725 |  | 2,640,007 |  | 1,784,725 |  | 2,640,007 |  |

| Other creditors | 51,040 |  | 1,132,525 |  | 51,040 |  | 1,132,525 |  |

| Directors' current accounts | - |  | 29,138 |  | - |  | 29,138 |  |

| Accruals and deferred income | 4,556,918 |  | 5,491,797 |  | 4,556,918 |  | 5,491,797 |  |

13,413,158 |  | 17,753,128 |  | 13,413,158 |  | 17,753,128 |  |

15. | Creditors: amounts falling due after more than one year |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts (see note 16) | 334,188 |  | 33,832 |  | 334,188 |  | 33,832 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

16. | Leasing agreements

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | 106,265 |  | 38,363 |  |

| Between one and five years | 399,340 |  | 35,416 |  |

505,605 |  | 73,779 |  |

| Finance charges repayable:

| Within one year | 20,396 |  | 6,716 |  |

| Between one and five years | 65,152 |  | 1,584 |  |

85,548 |  | 8,300 |  |

| Net obligations repayable:

| Within one year | 85,869 |  | 31,647 |  |

| Between one and five years | 334,188 |  | 33,832 |  |

420,057 |  | 65,479 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

16. | Leasing agreements - continued

| Company

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | 106,265 |  | 38,363 |  |

| Between one and five years | 399,340 |  | 35,416 |  |

505,605 |  | 73,779 |  |

| Finance charges repayable:

| Within one year | 20,396 |  | 6,716 |  |

| Between one and five years | 65,152 |  | 1,584 |  |

85,548 |  | 8,300 |  |

| Net obligations repayable:

| Within one year | 85,869 |  | 31,647 |  |

| Between one and five years | 334,188 |  | 33,832 |  |

420,057 |  | 65,479 |  |

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 1,059,235 |  | 806,789 |  |

| Between one and five years | 2,030,428 |  | 880,583 |  |

3,089,663 |  | 1,687,372 |  |

| Company

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 1,059,235 |  | 806,789 |  |

| Between one and five years | 2,030,428 |  | 880,583 |  |

3,089,663 |  | 1,687,372 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

17. | Secured debts

| The following secured debts are included within creditors:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts | 420,057 |  | 65,479 |  | 420,057 |  | 65,479 |  |

| Hire purchase contracts are secured by fixed charges over the assets concerned.

18. | Provisions for liabilities

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax | 602,455 |  | 614,711 |  | 602,455 |  | 614,711 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 614,711 |  |

| Movement in deferred tax | (12,256 | ) |

| Balance at 31 March 2025 | 602,455 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 614,711 |  |

| Movement in deferred tax | (12,256 | ) |

| Balance at 31 March 2025 | 602,455 |  |

19. | Called up share capital

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

Comex 2000 (UK) Limited (Registered number: 03725452)

and its subsidiary

Notes to the Consolidated Financial Statements - continued

for the Year Ended 31 March 2025

20. | Reserves

| Group

| Retained

| earnings

£ |

| At 1 April 2024 | 22,076,245 |  |

| Profit for the year | 156,246 |  |

| At 31 March 2025 | 22,232,491 |  |

| Company

| Retained

| earnings

£ |

| At 1 April 2024 | 22,076,288 |  |

| Profit for the year | 156,287 |  |

| At 31 March 2025 | 22,232,575 |  |

| Retained earnings - This reserve records retained earnings and accumulated losses.

21. | 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.

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

| The loans to and from other related parties are unsecured and interest free.

| Entities under common control

2025 | 2024 |

£ | £ |

| Amount due from entities under common control | 4,963,580 |  | 4,029,368 |  |

22. | Ultimate controlling party

| The ultimate controlling party is N K Smith.