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Company No: 11112026 (England and Wales)

# ANORD MARDIX ACQUISITIONS LIMITED

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

ANORD MARDIX ACQUISITIONS LIMITED

## Annual Report and Financial Statements

For the financial year ended 31 March 2025

Contents

ANORD MARDIX ACQUISITIONS LIMITED

## DIRECTORS AND OTHER INFORMATION

For the financial year ended 31 March 2025
ANORD MARDIX ACQUISITIONS LIMITED

## DIRECTORS AND OTHER INFORMATION (continued)

For the financial year ended 31 March 2025

DIRECTORS | Alan Cooling
| Pedro Mendieta (Appointed 11 April 2024, Resigned 08 November 2024)
| James Peacock (Resigned 11 April 2024)
| David Stewart

SECRETARY | Alan Cooling

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

COMPANY NUMBER | 11112026 (England and Wales)

AUDITOR | Deloitte Ireland LLP
| Chartered Accountants & Statutory Audit Firm
| Statutory Auditor
| Deloitte & Touche House
| 29 Earlsfort Terrace
| Dublin 2
| D02 AY28
| Ireland

ANORD MARDIX ACQUISITIONS LIMITED

## DIRECTORS' REPORT

For the financial year ended 31 March 2025
ANORD MARDIX ACQUISITIONS LIMITED

## DIRECTORS' REPORT (continued)

For the financial year ended 31 March 2025

The directors present their annual report on the affairs of the Company, together with the financial statements and auditors� report, for the financial year ended 31 March 2025.

PRINCIPAL ACTIVITIES

The principal activity of Anord Mardix Acquisitions Limited (the �Company�) is that of a parent undertaking.

GOING CONCERN

The Company incurred a loss after taxation during the financial year totalling �2,766,091 (2024: profit �4,252,075) and net current liability at the financial year end of �60,688,262 (2024: net current liability �57,729,047) but the Company is in a net assets position of �35,733,898 (2024: net assets �38,693,113).
Flex Ltd., the ultimate parent company, has committed to providing ongoing financial support to enable the Company to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis. The Company�s continued viability depends on the sustained support of Flex Ltd., which has assured the directors that it has no current intention to reduce its holdings in Anord Mardix or alter its business relationship with the Company. Furthermore, it remains Flex Ltd.�s policy to take all necessary measures to ensure its subsidiaries can consistently meet their financial and contractual obligations.

REVIEW OF THE BUSINESS

Turnover for the financial year amounted to �Nil (2024: �Nil). The Company incurred a loss after taxation totalling �2,766,091 (2024: profit �4,252,075).
The net current liability position of the Company as at the financial year end amounted to �60,688,262 (2024: net current liability �57,729,047).
The net asset position of the Company as at the financial year end amounted to �35,733,898 (2024: net asset �38,693,113).

The Company's performance for the financial year was in line with expectations. The Company is a member of the Anord Mardix Group. The Group is considered a provider of essential service which is the manufacture of products necessary for the supply chain of essential services; computer, electronic and optical products including electrical equipment, machinery and other equipment.
The Company is a holding company and it 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 (2024: �6,863,163).

EVENTS AFTER THE BALANCE SHEET DATE

Events occurring after the balance sheet date have been disclosed in note 13 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 |
Pedro Mendieta | (Appointed 11 April 2024, Resigned 08 November 2024)
James Peacock | (Resigned 11 April 2024)
David Stewart |

SECRETARY

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

Alan Cooling |

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 ACQUISITIONS LIMITED

## DIRECTORS' RESPONSIBILITIES STATEMENT

For the financial year ended 31 March 2025
ANORD MARDIX ACQUISITIONS 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 year. 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 for the Company's financial statements 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 ACQUISITIONS LIMITED

For the financial year ended 31 March 2025

## INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ANORD MARDIX ACQUISITIONS 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 Acquisitions 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 14, 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 the date 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.
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 course of 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.

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 an auditor's 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 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.
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
Brian Murphy

Deloitte & Touche House
29 Earlsfort Terrace
Dublin 2
D02 AY28
Ireland

04 June 2026

ANORD MARDIX ACQUISITIONS LIMITED

## STATEMENT OF COMPREHENSIVE INCOME

For the financial year ended 31 March 2025
ANORD MARDIX ACQUISITIONS LIMITED

## STATEMENT OF COMPREHENSIVE INCOME (continued)

For the financial year ended 31 March 2025

| Note | 2025 |  | 2024
|  | � |  | �
Administrative expenses |  | 38,820 |  | 101,963
Other operating income | 3 | 0 |  | 6,863,163
Operating profit |  | 38,820 |  | 6,965,126
Interest payable and similar expenses | 4 | ( 2,804,911) |  | ( 2,713,051)
(Loss)/profit before taxation | 5 | ( 2,766,091) |  | 4,252,075
Tax on (loss)/profit | 7 | 0 |  | 0
(Loss)/profit for the financial year |  | ( 2,766,091) |  | 4,252,075
Other comprehensive income |  | 0 |  | 0
Total comprehensive (loss)/income |  | ( 2,766,091) |  | 4,252,075

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.

The notes on pages 12 to 17 form part of these financial statements.

ANORD MARDIX ACQUISITIONS LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
ANORD MARDIX ACQUISITIONS LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | � |  | �
Fixed assets |  |  |  |
Investments | 8 | 96,422,160 |  | 96,422,160
|  | 96,422,160 |  | 96,422,160
Current assets |  |  |  |
Debtors | 9 | 1,476 |  | 4,948,109
|  | 1,476 |  | 4,948,109
Creditors: amounts falling due within one year | 10 | ( 60,689,738) |  | ( 62,677,156)
Net current liabilities |  | (60,688,262) |  | (57,729,047)
Total assets less current liabilities |  | 35,733,898 |  | 38,693,113
Net assets |  | 35,733,898 |  | 38,693,113
Capital and reserves | 11 |  |  |
Called-up share capital |  | 1 |  | 1
Share premium account |  | 0 |  | 55,949,380
Profit and loss account |  | 35,733,897 |  | ( 17,256,268)
Total shareholder's funds |  | 35,733,898 |  | 38,693,113

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements of Anord Mardix Acquisitions Limited (registered number: 11112026) 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 ACQUISITIONS LIMITED

## STATEMENT OF CHANGES IN EQUITY

For the financial year ended 31 March 2025
ANORD MARDIX ACQUISITIONS LIMITED

## STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 31 March 2025

| Called-up share capital |  | Share premium account |  | Profit and loss account |  | Total
| � |  | � |  | � |  | �
At 01 April 2023 | 1 |  | 55,949,380 |  | ( 21,508,343) |  | 34,441,038
Profit for the financial year | 0 |  | 0 |  | 4,252,075 |  | 4,252,075
Total comprehensive income | 0 |  | 0 |  | 4,252,075 |  | 4,252,075
At 31 March 2024 | 1 |  | 55,949,380 |  | ( 17,256,268) |  | 38,693,113
At 01 April 2024 | 1 |  | 55,949,380 |  | ( 17,256,268) |  | 38,693,113
Loss for the financial year | 0 |  | 0 |  | ( 2,766,091) |  | ( 2,766,091)
Total comprehensive loss | 0 |  | 0 |  | ( 2,766,091) |  | ( 2,766,091)
Dividends paid on equity shares | 0 |  | 0 |  | ( 193,124) |  | ( 193,124)
Reduction of share premium account | 0 |  | ( 55,949,380) |  | 55,949,380 |  | 0
At 31 March 2025 | 1 |  | 0 |  | 35,733,897 |  | 35,733,898

The notes on pages 12 to 17 form part of these financial statements.

ANORD MARDIX ACQUISITIONS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
ANORD MARDIX ACQUISITIONS 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 Acquisitions Limited (the �Company�) is a company limited by shares, incorporated and domiciled in the United Kingdom. The Company's registered office is Natland Road, Kendal, Cumbria, England, LA9 7LR, United Kingdom.
The principal activities of the Company is that of a parent undertaking.
The Company is tax resident in the United Kingdom.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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 2).
The financial statements are presented in GBP (�), which is also the Company's functional currency.

##### 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.

The Group has agreed to provide continued financial support to ensure that the Company can meet its liabilities as they fall due, for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors feel it appropriate to continue to adopt the going concern basis of accounting.

##### Group accounts exemption

Group accounts exemption s400
The Company is exempted by virtue of Section 401 of the Companies Act 2006 from the requirement to prepare group financial statements. This information is included in the consolidated financial statements of Flex Ltd. as at 31 March 2025 and these financial statements are publicly available.
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 �The Financial Reporting Standard applicable in the UK and Republic of Ireland� as they are included in the consolidated financial statements of Flex Ltd. as at 31 March 2025 as disclosed above:
* 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 26 Share-based Payments paragraphs 26.18(b), 26.19 to 26.21 and 26.23; and
* the requirements of Section 33 Related Party Disclosures paragraph 33.7.

##### 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. Nonmonetary 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 profit or loss within 'other operating income'.

##### Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### 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.

##### Trade and other debtors

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

##### Trade and other creditors

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

##### 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.

##### Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

#### 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.
**Judgments**
In the process of applying the company�s accounting policies, management has not made any judgments, apart from those involving estimations, which have a significant effect on the amounts recognized in the financial statements.
Key source of estimation uncertainty
**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:
**Consideration of impairment of financial assets**
Determining whether the carrying value of fixed asset investments has been impaired, may require an estimate of the value in use of the investment in subsidiaries. The directors are satisfied that the carrying value of the Company's investments in subsidiaries are at least equal to their recoverable amount.

#### 3. Other operating income

| 2025 |  | 2024
| � |  | �
Dividend income | 0 |  | 6,863,163

#### 4. Interest payable

| 2025 |  | 2024
| � |  | �
Interest payable and similar expenses | 2,804,911 |  | 2,713,051

#### 5. (Loss)/profit before taxation

(Loss)/profit before taxation is stated after charging/(crediting):

| 2025 |  | 2024
| � |  | �
Foreign exchange gains | ( 38,820) |  | ( 101,963)

#### 6. 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).

#### 7. Tax on (loss)/profit

| 2025 |  | 2024
| � |  | �
Current tax on (loss)/profit |  |  |
UK corporation tax | 0 |  | 0
Total current tax | 0 |  | 0
Total tax on (loss)/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
| � |  | �
(Loss)/profit before taxation | (2,766,091) |  | 4,252,075
Tax on (loss)/profit at standard UK corporation tax rate of 25% (2024: 25%) | ( 691,523) |  | 1,063,019
Effects of: |  |  |
Income not taxable in determining taxable profit | 0 |  | ( 1,715,791)
Effects of group relief | 689,456 |  | 682,800
Deferred tax not recognised | 2,067 |  | (30,028)
Total tax charge for year | 0 |  | 0

**Factors that may affect future tax charges**
There were no factors that may affect future tax charges.

#### 8. Fixed asset investments

Investments in subsidiaries

| 2025
| �
Cost |
At 01 April 2024 | 96,422,160
At 31 March 2025 | 96,422,160
Carrying value at 31 March 2025 | 96,422,160
Carrying value at 31 March 2024 | 96,422,160

Investments in shares

The following were subsidiary undertakings of the Company:

Name of entity | Registered office | Principal activity | Class of shares | Ownership 31.03.2025 | Ownership 31.03.2024
Mardix Holdings Limited | Natland Road, Kendal, Cumbria, England, LA9 7LR | Holding company | Ordinary | 100.00% | 100.00%
ACS Acquisitions Ireland Limited | Tanola House, Coes Road Industrial Estate, Coes Road East, Dundalk, Co. Louth, A91 TP98 | Holding company | Ordinary | 100.00% | 100.00%

The capital and reserves and the profit of the subsidiary undertakings was as follows:

| Capital and reserves at 2025 | Profit for the year ended 2025
| � | �
Mardix Holdings Limited | 15,238,533 | 872
ACS Acquisitions Ireland Limited | 25,807,866 | 1,841,703

The amounts for capital and reserves and profit or loss are presented only for the holding companies named above. The directors of the company have carried out an assessment for the valuation of investments made by the Company and have determined that the value of investments is not impaired as at 31 March 2025.

#### 9. Debtors

| 2025 |  | 2024
| � |  | �
Trade debtors | 0 |  | 428,370
Amounts owed by Group undertakings (note 12) | 0 |  | 4,518,263
Corporation tax | 1,476 |  | 1,476
| 1,476 |  | 4,948,109

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

| 2025 |  | 2024
| � |  | �
Amounts owed to Group undertakings (note 12) | 56,965,186 |  | 61,757,515
Accruals | 3,724,552 |  | 919,641
| 60,689,738 |  | 62,677,156

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

Amounts owed to Group undertakings comprise of debt at an interest rate of 5% per annum.

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

| 2025 |  | 2024
| � |  | �
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of � 1.00 | 1 |  | 1
Presented as follows: |  |  |

**Reserves**
**Share capital**
Represents the nominal value of shares that have been issued.

The Company's other reserves are as follows:
The share premium reserve contains the premium arising on issue of equity shares, net of issue expenses.
The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.

On 16 December 2024, the Company completed a reduction of share capital in accordance with section 641 of the Companies Act 2006, supported by a directors� solvency statement. The reduction resulted in the cancellation of the Company�s share premium account of �55,949,380. The amount cancelled was credited to retained earnings and treated as realised profits available for distribution.

#### 12. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

#### 13. 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 Acquisitions 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.

#### 14. Controlling party

ACS Acquisitions, Inc. has 100% control of the Company. The ultimate parent company of ACS Acquisitions, Inc. 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.