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Company No: 07615119 (England and Wales)

# ANORD MARDIX CRITICAL POWER SERVICES LIMITED

### Annual Report and Financial Statements
For the financial year ended 31 March 2025

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## Annual Report and Financial Statements

For the financial year ended 31 March 2025

Contents

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## DIRECTORS AND OTHER INFORMATION

For the financial year ended 31 March 2025
ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## DIRECTORS AND OTHER INFORMATION (continued)

For the financial year ended 31 March 2025

DIRECTORS | Alan Cooling (Resigned 30 April 2026)
| Cesar Lopez Fuentes (Appointed 01 May 2026)
| Pedro Mendieta (Appointed 11 April 2024, Resigned 08 November 2024)
| James Peacock (Resigned 11 April 2024)
| Sahejveer Singh (Appointed 01 May 2026)
| David Stewart

SECRETARY | Sahejveer Singh

REGISTERED OFFICE | Natland Road
| Kendal
| Cumbria
| England LA9 7LR
| United Kingdom

COMPANY NUMBER | 07615119 (England and Wales)

AUDITOR | Deloitte Ireland LLP
| Chartered Accountants & Statutory Audit Firm
| Statutory Auditor
| Deloitte & Touche House
| Earlsfort Terrace
| Dublin 2

BANKERS | HSBC
| 4 Hardman Square
| Spinningfields
| Manchester
| ME3 3EB

| Citibank, N.A. London Branch
| 33 Canada Square
| Canary Wharf
| London
| E14 5LB

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## DIRECTORS' REPORT

For the financial year ended 31 March 2025
ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## DIRECTORS' REPORT (continued)

For the financial year ended 31 March 2025

The directors present their annual report and the audited financial statements for the financial year ended 31 March 2025.

PRINCIPAL ACTIVITIES

The Company's principal activity is the servicing and sale of switchgear.

GOING CONCERN

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements. Further details regarding the adoption of the going concern basis can be found in note 1 to the financial statements.

REVIEW OF THE BUSINESS

Turnover for the financial year amounted to �6,925,154 (2024: �6,480,693). The Company earned a profit after taxation totalling �1,801,448 (2024: �1,522,057).
The net current assets position of the Company as at the financial year end amounted to �10,739,014 (2024: net current assets �8,934,302).
The net assets position of the Company as at the financial year end amounted to �10,743,666 (2024: net assets �8,942,218).

The Company's performance for the financial period was in line with expectations. The Company is a member of the Anord Mardix Group. The Group is considered a provider of essential services which is the manufacture of products necessary for the supply chain of essential services; computer, electronic and optical products including semi-conductors; electrical equipment, machinery and other equipment.
The Company plans to continue its present activities. The directors do not anticipate a significant change in the activities of the Company in future periods.

DIVIDENDS

The directors do not recommend payment of a dividend during the financial year (2024:�Nil).

EVENTS AFTER THE BALANCE SHEET DATE

Events occurring after the balance sheet date have been disclosed in note 11 to the financial statements.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

Alan Cooling | (Resigned 30 April 2026)
Cesar Lopez Fuentes | (Appointed 01 May 2026)
Pedro Mendieta | (Appointed 11 April 2024, Resigned 08 November 2024)
James Peacock | (Resigned 11 April 2024)
Sahejveer Singh | (Appointed 01 May 2026)
David Stewart |

SECRETARY

The secretaries, who served during the financial year and to the date of this report except as noted, were as follows:

Alan Cooling | (Resigned 30 April 2026)
Sahejveer Singh | (Appointed 30 April 2026)

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

AUDITOR

Each of the persons who is a director at the date of approval of this report confirms that:
* So far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
* The director has taken all the steps that they ought to have taken as a director in order to make himself/herself aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.
Deloitte Ireland LLP have expressed their willingness to continue in office as auditor and appropriate arrangements have been put in place for them to be deemed reappointed as auditors in the absence of an Annual General Meeting.

Approved by the Board of Directors and signed on its behalf by:

David Stewart Director |

03 June 2026

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## DIRECTORS' RESPONSIBILITIES STATEMENT

For the financial year ended 31 March 2025
ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## DIRECTORS' RESPONSIBILITIES STATEMENT (continued)

For the financial year ended 31 March 2025

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial period. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 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 judgments and accounting estimates that are reasonable and prudent;
� state whether applicable UK 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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to 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.

## INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ANORD MARDIX CRITICAL POWER SERVICES LIMITED

For the financial year ended 31 March 2025

## INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ANORD MARDIX CRITICAL POWER SERVICES LIMITED (continued)

For the financial year ended 31 March 2025

Report on the audit of the financial statements

Opinion
In our opinion the financial statements of Anord Mardix Critical Power Services Limited (the �company�):
� give a true and fair view of the state of the company�s affairs as at 31 March 2025 and of its profit for the financial year then ended;
� have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 �The Financial Reporting Standard applicable in the UK and Republic of Ireland�; and
� have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements which comprise:
� the Statement of Comprehensive Income;
� the Statement of Financial Position;
� the Statement of Changes in Equity; and
� the related notes 1 to 12, including a summary of significant accounting policies as set out in note 1.
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).
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).

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 auditor's 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 Financial Reporting Council�s (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 other information comprises the information included in the annual report, other than the financial statements and our auditor�s report thereon. The directors are responsible for the other information contained within the annual report. 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 in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement, 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 is 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.
Auditor�s 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 an auditor's report 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.
A further description of our responsibilities for the audit of the financial statements is located on the FRC�s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor�s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud
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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
We considered the nature of the company�s industry and its control environment, and reviewed the company�s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. . We also enquired of management and the directors about their own identification and assessment of the risks of irregularities, including those that are specific to the company�s business sector.
We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that:
� had a direct effect on the determination of material amounts and disclosures in the financial statements. These included the UK Companies Act, FRS 102 and tax legislation; and
� do not have a direct effect on the financial statements but compliance with which may be fundamental to the company�s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
As a result of performing the above, we identified the greatest potential for fraud in the following area, and our procedures performed to address it are described below:
**Revenue recognition:**
� we assessed the design and determined the implementation of the key controls over how revenue was recognized in the financial year; and
� performed substantive test of details on sales during the year and post year end to test whether revenue recorded in the financial year is appropriate.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
� reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
� performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
� enquiring of management and legal counsel concerning actual and potential litigation and claims, and instances of noncompliance with laws and regulations; and
� reading minutes of meetings of those charged with governance.

Report on other legal and regulatory requirements

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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements, and
� the the directors' report have been prepared in accordance with applicable legal requirements.
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 any material misstatements in the directors� report.

Matters on which we are required to report by exception
Under the Companies Act 2006 we are required to report in respect of the following matters 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; or
� the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies� exemptions in preparing the directors� report and from the requirement to prepare a strategic report.
We have nothing to report in respect of these matters.

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 an auditor�s report 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.

Brian Murphy (Senior Statutory Auditor)
For and on behalf of Deloitte Ireland LLP
Chartered Accountants & Statutory Audit Firm
Statutory Auditor

Deloitte & Touche House
Earlsfort Terrace
Dublin 2

04 June 2026

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## STATEMENT OF COMPREHENSIVE INCOME

For the financial year ended 31 March 2025
ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## STATEMENT OF COMPREHENSIVE INCOME (continued)

For the financial year ended 31 March 2025

| Note | 2025 |  | 2024
|  | � |  | �
Turnover |  | 6,925,154 |  | 6,480,693
Cost of sales |  | ( 3,381,248) |  | ( 3,296,909)
Gross profit |  | 3,543,906 |  | 3,183,784
Administrative expenses |  | ( 2,185,021) |  | ( 1,667,366)
Operating profit |  | 1,358,885 |  | 1,516,418
Interest receivable and similar income |  | 449,148 |  | 6,853
Interest payable and similar expenses |  | ( 6,585) |  | ( 1,214)
Profit before taxation | 3 | 1,801,448 |  | 1,522,057
Tax on profit | 5 | 0 |  | 0
Profit for the financial year |  | 1,801,448 |  | 1,522,057
Other comprehensive income |  | 0 |  | 0
Total comprehensive income |  | 1,801,448 |  | 1,522,057

All amounts relate to continuing operations.

There were no items of other comprehensive income or losses for the current or prior year other than those included in the Statement of Comprehensive Income.

Notes 1 to 14 form part of these financial statements.

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | � |  | �
Fixed assets |  |  |  |
Tangible assets | 6 | 4,652 |  | 7,916
|  | 4,652 |  | 7,916
Current assets |  |  |  |
Debtors | 7 | 14,406,761 |  | 11,075,600
|  | 14,406,761 |  | 11,075,600
Creditors: amounts falling due within one year | 8 | ( 3,667,747) |  | ( 2,141,298)
Net current assets |  | 10,739,014 |  | 8,934,302
Total assets less current liabilities |  | 10,743,666 |  | 8,942,218
Net assets |  | 10,743,666 |  | 8,942,218
Capital and reserves | 9 |  |  |
Called-up share capital |  | 2 |  | 2
Profit and loss account |  | 10,743,664 |  | 8,942,216
Total shareholder's funds |  | 10,743,666 |  | 8,942,218

The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1 A - Small Entities.

The financial statements of Anord Mardix Critical Power Services Limited (registered number: 07615119) were approved and authorised for issue by the Board of Directors on 03 June 2026. They were signed on its behalf by:

David Stewart Director |

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## STATEMENT OF CHANGES IN EQUITY

For the financial year ended 31 March 2025
ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 31 March 2025

| Called-up share capital |  | Profit and loss account |  | Total
| � |  | � |  | �
At 01 April 2023 | 2 |  | 7,420,159 |  | 7,420,161
Profit for the financial year | 0 |  | 1,522,057 |  | 1,522,057
Total comprehensive income | 0 |  | 1,522,057 |  | 1,522,057
At 31 March 2024 | 2 |  | 8,942,216 |  | 8,942,218
At 01 April 2024 | 2 |  | 8,942,216 |  | 8,942,218
Profit for the financial year | 0 |  | 1,801,448 |  | 1,801,448
Total comprehensive income | 0 |  | 1,801,448 |  | 1,801,448
At 31 March 2025 | 2 |  | 10,743,664 |  | 10,743,666

Notes 1 to 14 form part of these financial statements.

ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
ANORD MARDIX CRITICAL POWER SERVICES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Anord Mardix Critical Power Services Limited (the "Company") is a private company limited by shares, with a registered address at Natland Road, Kendal, Cumbria, England, LA9 7LR, United Kingdom.
The Company's principal activity is the servicing and sale of switchgear.
The Company is tax resident in the United Kingdom.
These financial statements have been prepared in accordance with applicable accounting standards, including Section 1A of Financial Reporting Standard FRS 102 - The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland FRS 102, and with the Companies Act 2006.
The financial statements have been prepared on the historical cost basis.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see Note 3).
The financial statements are presented in GBP(�), which is also the Company's functional currency.
**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 the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of lreland":
* the requirements of Section 7 Statement of Cash Flows;
* the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
* the requirements of Section 11 Financial Instruments 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 Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
* the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Flex Ltd. (NASDAQ: FLEX) as at 31 March 2025 and these financial statements are publicly available.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

**Transactions and balances**
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non�monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

##### Turnover

The Company's source of revenue derives from service and maintenance contracts in relation to the Company's principal activity of the servicing and sale of switchgear. 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. Revenue includes revenue earned from the sale of goods and from the rendering of services.
**Sale of goods**
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
**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

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Plant and machinery etc. | 10 - 33 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset�s carrying amount and the present value of estimated future cash flows, discounted at the financial asset�s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset�s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through the Statement of Comprehensive Income, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset in the Statement of Financial Position when, and only when, there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through the Statement of Comprehensive Income.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

##### Provisions

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 the Statement of Comprehensive Income in the financial period that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position 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 Statement of Financial Position.
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The judgments, estimates and assumptions used in the financial statements are based upon management's evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results could differ from these estimates, and the effect of any change in estimates will be adjusted in the financial statements when they become reasonably determinable.
Judgments, estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under these circumstances.
**Judgements**
In the process of applying the company's accounting policies, management has made the following judgments, apart from those involving estimations, which have the most significant effect on the amounts recognized in the financial statements:

Useful life of tangible assets
The annual depreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of fair values and residual values. The director annually reviews these asset lives and adjusts them as necessary to reflect current thinking on remaining lives in light of technological change, prospective economic utilisation and physical condition of the assets concerned.

Estimates and Assumptions
The key estimates and assumptions concerning the future and other key sources of estimation uncertainty at the financial reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are discussed below:

Allowance for impairment of trade debtors
The Company estimates the allowance for doubtful trade receivables based on assessment of specific accounts where the Company has objective evidence comprising default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgment used was based on the best available facts and circumstances including but not limited to, the length of relationship. A provision amounting to �Nil was included in the 31 March 2025 financial statements (2024: �Nil).

Taxation
Determining income tax provisions involves judgment on the tax treatment of certain transactions. Deferred tax is recognised on tax losses not yet used and on temporary differences where it is probable that there will be taxable revenue against which these can be offset. Management has made judgments as to the probability of future taxable revenues being generated against which tax losses will be available for offset.

#### 3. Profit before taxation

Profit before taxation is stated after charging/(crediting):

| 2025 |  | 2024
| � |  | �
Depreciation of tangible fixed assets (note 6) | 3,264 |  | 3,264
Foreign exchange losses | 18,447 |  | 5,243
Auditors remuneration/services | 4,800 |  | 4,800
Taxation compliance services | 3,338 |  | 3,490

#### 4. Staff number and costs

| 2025 |  | 2024
| Number |  | Number
The average monthly number of employees (including directors) was: | 0 |  | 0

The Company has no employees other than the directors. The Company did not pay any remunerations to its directors and the directors remuneration is borne by other group companies (2024: Nil). All staff are employed by other group companies which the Company is recharged amounting to �1,476,802 (2024: �1,349,095).

#### 5. Tax on profit

| 2025 |  | 2024
| � |  | �
Current tax on profit |  |  |
UK corporation tax | 0 |  | 0
Total current tax | 0 |  | 0
Total tax on profit | 0 |  | 0

Tax reconciliation

The tax assessed for the year is �Nil (2024: Nil) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:

| 2025 |  | 2024
| � |  | �
Profit before taxation | 1,801,448 |  | 1,522,057
Tax on profit at standard UK corporation tax rate of 25% (2024: 25%) | 450,362 |  | 380,514
Effects of: |  |  |
Expenses not deductible for tax purposes | 0 |  | 396
Effects of group relief | (450,829) |  | (380,910)
Deferred tax not provided | 467 |  | 0
Total tax charge for year | 0 |  | 0

#### 6. Tangible assets

| Plant and machinery etc. |  | Total
| � |  | �
Cost |  |  |
At 01 April 2024 | 32,753 |  | 32,753
At 31 March 2025 | 32,753 |  | 32,753
Accumulated depreciation |  |  |
At 01 April 2024 | 24,837 |  | 24,837
Charge for the financial year | 3,264 |  | 3,264
At 31 March 2025 | 28,101 |  | 28,101
Carrying value |  |  |
At 31 March 2025 | 4,652 |  | 4,652
At 31 March 2024 | 7,916 |  | 7,916

#### 7. Debtors

| 2025 |  | 2024
| � |  | �
Trade debtors | 1,327,188 |  | 2,574,983
Amounts owed by Group undertakings (note 10) | 12,927,251 |  | 8,374,281
Other debtors | 30,368 |  | 0
Prepayments and accrued income | 121,954 |  | 126,336
| 14,406,761 |  | 11,075,600

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| � |  | �
Trade creditors | 228,579 |  | 276,886
Amounts owed to Group undertakings (note 10) | 2,642,840 |  | 722,743
Corporation tax | 0 |  | 229,856
VAT | 93,225 |  | 129,606
Accruals and deferred income | 703,103 |  | 782,207
| 3,667,747 |  | 2,141,298

There are no amounts included above in respect of which any security has been given by the small entity.

Trade creditors, including accruals, are repayable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms.
Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
Taxation, including corporation tax and other tax, are repayable at various dates over the coming months in accordance with the applicable statutory provisions.
The terms of deferred income are based on their underlying contracts.

#### 9. Called-up share capital and reserves

| 2025 |  | 2024
| � |  | �
Allotted, called-up and fully-paid |  |  |
2 Ordinary shares of � 1.00 each | 2 |  | 2
Presented as follows: |  |  |
Called-up share capital presented as equity | 2 |  | 2

The Company's other reserves are as follows:
**Share capital**
Represents the nominal value of shares that have been issued.
**Profit and loss account**
Includes all current and prior period retained profit and losses.

#### 10. Related party transactions

The Company has taken advantage of the exemptions available to subsidiaries under FRS 102 Section 33, "Related Party Disclosure" related to the disclosure of related party transactions with other wholly-owned group companies.

#### 11. Events after the Balance Sheet date

On 5 May 2026, Flex Ltd., the Company�s ultimate parent undertaking, announced a plan to spin off its Power and Cloud portfolio into a separate standalone group of companies, independent of the Flex Ltd Group. Anord Mardix Critical Power Services Limited forms part of this business and is therefore expected to be included within the new group structure. The transaction had not completed at the date of approval of these financial statements. This is considered a non adjusting event under FRS 102 and, accordingly, no adjustments have been made to the financial statements. The financial impact of the transaction cannot yet be reliably estimated.

#### 12. Controlling party

Mardix Holdings Limited has 100% control of the Company. The ultimate parent company of Mardix Holdings Limited is Flex Ltd. which is incorporated in Singapore and whose registered address is 1 Kallang Place, Singapore 339211. The consolidated financial statements of Flex Ltd. are publicly available.