REGISTERED NUMBER: 14941641 (England and Wales)

Group Strategic Report, Report of the Director and

Audited Consolidated Financial Statements for the Year Ended 31 March 2025

for

NMI PE Investments Limited

Page

Company Information

1

Group Strategic Report

2

to

5

Report of the Director

6

to

7

Report of the Independent Auditors

8

to

11

Consolidated Income Statement

12

Consolidated Other Comprehensive Income

13

Consolidated Statement of Financial Position

14

Company Statement of Financial Position

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Statement of Cash Flows

18

Notes to the Consolidated Statement of Cash Flows

19

Notes to the Consolidated Financial Statements

20

to

31

DIRECTOR:

Ms N M Imam

REGISTERED OFFICE:

22 Gilbert Street

London

W1K 5HD

REGISTERED NUMBER:

14941641 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alan Kaye FCA

AUDITORS:

BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

The director presents her strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

During the year, the group comprised a number of entities, with its principal trading activities undertaken through Taskmaster Resources Limited and CBSButler Holdings Limited, both operating within the recruitment and related services sectors. These businesses represent the core revenue-generating operations of the group. The composition of the group differed from the prior period, with certain entities held for varying periods during the year, and accordingly the consolidated results reflect the performance of the trading subsidiaries for their respective periods of ownership, together with costs incurred in managing the group's overall structure.

The Group's two principal operating subsidiaries delivered a combined underlying EBITDA of £1,457,454 for the period. Taskmaster Resources Limited generated EBITDA of £873,073 on revenue of £55.4m, reflecting continued operational discipline and strong client retention across its temporary staffing divisions. CBSButler Holdings Limited generated underlying EBITDA of £584,381, after adjusting for certain non-recurring costs incurred during the period which are not expected to recur.

The directors consider that the underlying EBITDA performance of the Group's principal operating subsidiaries represents a satisfactory result for the year, particularly given the challenging conditions within the temporary labour market, and provides a sound platform for continued improvement in the period ahead.

The consolidated profit for the year after tax amounted to £326,444.

The group retained a positive combined bank balance of £575,942 .

PRINCIPAL RISKS AND UNCERTAINTIES

There are two main risks and uncertainties within the temporary labour market.

Firstly, due to the multiple industry sectors within the customer portfolio, the group is subject to broad macroeconomic trends. When consumer demand decreases in a specific sector, that impacts upon the labour requirement. The board mitigate this by having a wide portfolio to reduce the impact of any such decreases but also seek new opportunities within sectors that are broadly recession proof.

Secondly, the labour market is heavily regulated, with multiple regulatory "bodies" (some governmental, such as HMRC, and some quasi trade bodies, such as the GLAA). Whilst there are no known forthcoming changes to legislation that would have a material impact upon the company, employment legislation can be subject to political influence. Therefore, a change in government could trigger material changes in the temporary labour market. The board mitigate this by ensuring the employees are routinely trained on current legislation and the director regularly attend regulatory body meetings to ensure the group is abreast of potential future changes.

The group is exposed to the following financial risks:

Price risk-the temporary labour industry is highly competitive. The board mitigates this risk by striving to maintain the highest levels of service and compliance to protect the pricing offered to customers.

Credit risk-the company is exposed to credit offered to customers. The board mitigates this by having strict criteria over the offering of credit and routine reviews of customers' creditworthiness, along with credit insurance, where applicable.

Liquidity and cash flow risk - the group used term debt to acquire the subsidiaries. As such, the group's results are subject to banking covenants and fluctuations in interest rates. The board mitigates this by preparing cash flow forecasts looking forward 12 months and reviewing on a monthly basis. The board models various scenarios to ensure that there is sufficient headroom within the covenants to mitigate any unforeseen movements in interest rates.

The Board considers that the above processes adequately satisfy the company's financial risk management objectives.

Future Prospects

The UK recruitment market continues to operate in a challenging economic environment characterised by softer labour demand, easing wage inflation and increased cost pressures across businesses. Current economic forecasts indicate that labour market conditions are expected to remain subdued in the short to medium term, with employers continuing to exercise caution over recruitment activity in response to inflationary pressures, elevated interest rates and wider geopolitical uncertainty.

Despite these conditions, the directors believe that the group remains well positioned within its core sectors due to its diversified customer base, established client relationships and continued focus on service quality and operational compliance. The group continues to invest in customer retention, operational efficiency and product differentiation in order to support long-term growth opportunities as market conditions improve.

The directors will continue to monitor economic developments, including inflation, employment trends and changes in employment legislation, and remain confident that the group is appropriately positioned to respond to changing market conditions.

SECTION 172(1) STATEMENT

The purpose of the strategic report in the Act is to inform members of the group and help them assess how the director has performed her duty under section 172. To fulfil this duty, a director must act in the way she considers, in good faith, would be most likely to promote the success of the group for the benefit of shareholders as a whole and in doing so, and have regard to several broader matters such as issues, factors & stakeholders.

a. Issues, Factors & Stakeholders

A key part of the strategic plan for the payroll sector is to operate with elevated levels of compliance. In conjunction with this, larger customers/potential customers have learned to adopt a selection policy to include accreditation to FCSA.

The board continued to invest in infrastructure, sales & operational resources to underpin a new, more commercially astute sales growth strategy across the recruitment and payroll groups. Processing costs increased in the period as commercial pressures continued to affect the overall margin as a percentage of sales. This is indicative of the market and has largely been counteracted by securing larger volumes of customers.

Management produced weekly schedules of financial and transactional performance. These reports collate to a wider suite of management information from which Management Accounts and Board packs are produced for analysis. Analysis and review take place each month as part of the Board Meetings. During which, broader issues that are set to or could affect the business e.g. IR35, are discussed. Appropriate minutes are produced to track agreed action points.

The business acts responsibly to ensure it meets the views of the wider community & environment.

b. Engagement

The director analysed internal staffing structures and strategy to ensure the management team engaged their experience and knowledge of scaling to support the relevant departments/operational teams. The Senior Management recognised the need to create junior management positions to manage larger departmental teams.

Retaining and developing internal resources has been integral to the ongoing success of the business. Our staff are extremely committed and we have very few leavers and providing the necessary support throughout this crisis has always been a primary objective. We utilise an annual appraisal process with our staff to ensure that performance is reviewed, expectations and goals are discussed and any other important communications are documented with action points.

During the year, the director is pleased that staff turnover was kept to a minimum, a direct result of the investment in the teams.

c. Business relationships

The board engages with a variety of stakeholders, including customers, regulators and suppliers, to inform and enable balanced decisions that incorporate multiple viewpoints whilst maintaining the board's focus on growth, service and compliance. Examples of the board's engagement with such stakeholders include:

- Ongoing discussions with funding providers to review and amend the capital structure of the group in the face of ever increasing interest rates and inflation;

- Regular dialogue with the FCSA regarding potential legislative tax (IR35) changes; and

- Engaging with cyber security suppliers to discuss the impact of cyber-attacks within the industry.

d. Decision Making

Throughout the trading period and with continuity the board and senior colleagues have been driven by their own personal targets and collective goals and milestones. We have throughout the years, strived to deliver high levels of customer satisfaction, including accuracy and transparency, not only to those customers, but also to external and internal employees & contractors alike.

The board and senior colleagues seek to, act fairly, with good conduct and ensure decision making is not just about benefits to shareholders but that which provides continued high regard, reputation and thought towards the community and the environment it operates within.

KEY PERFORMANCE INDICATORS

The director has considered the use of the key performance indicators. The continuous measurement and monitoring of the business performance is a critical element of the management process. In order to provide consistent and comprehensive information the Company uses a number of key performance indicators (KPI's) to provide a timely and well-balanced review of the financial performance against predefined targets.

The Company's key and other performance indicators during the period were as follows

2025

£

Turnover

92,390

Gross profit

11,718

Gross profit margin

13%

Operating profit/ (Loss)

1,083

Profit/(Loss) for the year

326

Other key KPI's that demonstrate the level of performance in different parts of the business include:

- Average salary levels

- EBITDA

Performance against budget and prior year.

The director is satisfied with the KPI's delivered in the year and is confident that expected performance levels can be maintained for the foreseeable future.

ON BEHALF OF THE BOARD:

Ms N M Imam - Director

13 July 2026

The director presents her 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 during the year under review was the provision of temporary and permanent recruitment solutions across a broad range of UK and international sectors through its subsidiary undertakings.

The principal activity of the company was that of an investment holding company.

DIRECTOR

Ms N M Imam held office during the whole of the period from 1 April 2024 to the date of this report.

FINANCIAL INSTRUMENTS

Treasury Operations and Financial Instruments

The director has established a risk and financial management framework whose primary objective is to protect the group from events that hinder the achievement of performance objective.

The objective aim to limit the undue counterparty exposure, ensure sufficient working capital and monitor risk at a business unit level.

The group's principal financial instruments during the year comprised of inter-company loans. The main purpose of these financial instruments are to provide funding for group operations.

Liquidity Risk

The group manages its cash requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operational needs of the business.

Credit Risk

Trade debtors will be monitored on an ongoing basis and provision may be made for doubtful debts where necessary.

Going concern

The director has reviewed the group's forecasts, available funding facilities and ongoing trading performance, including the profitability and cash generation of the group's principal trading subsidiaries which continue to support the wider group structure and those entities which incurred losses during the year. Accordingly, the director has a reasonable expectation that the company and the group have adequate resources to continue in operational existence for the foreseeable future and therefore continues to adopt the going concern basis in preparing the annual financial statements.

DISABLED PERSONS

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

EMPLOYEE INVOLVEMENT

The group's policy is to consult and discuss with employees matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and town-hall meetings which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Further information on engagement with employees and business relationships can be found within the strategic report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless she is 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 director is 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 director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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 director is 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 she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, BBK Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ms N M Imam - Director

13 July 2026

Opinion

We have audited the financial statements of NMI PE Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other Matters

We draw attention to the fact that this is the first period during which BBK Partnership has been appointed as the auditors of NMI PE Investments Limited and its subsidiaries. Audit procedures included obtaining sufficient and appropriate audit evidence regarding the opening balances as at 01 April 2024, as required by ISA 510: Initial Audit Engagements-Opening Balances. Our audit procedures included obtaining sufficient and appropriate audit evidence regarding the opening balances as at 1 April 2024, as required by ISA 510: Initial Audit Engagements - Opening Balances.

Emphasis of Matter

We draw attention to the going concern disclosure in Note 2 and the events after the reporting period disclosure in Note 21 to the financial statements, which explain the basis on which the director has adopted the going concern basis of accounting. These notes describe the group's net asset position and net current liability position at 31 March 2025, the actions taken to restructure the business, the subsequent improvement in trading performance, and the financial support made available by group members. These matters are fundamental to an understanding of the financial statements. Our opinion is not modified in respect of this matter.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page seven, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

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.

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 company's operating 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 the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety 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 set out in the financial statements were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

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

- agreeing financial statement disclosures to underlying supporting documentation;

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

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

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

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

A further description of our responsibilities 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.

Alan Kaye FCA (Senior Statutory Auditor)

for and on behalf of BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

17 July 2026

REVENUE

92,390,199

-

Cost of sales

(80,671,812

)

-

GROSS PROFIT

11,718,387

-

Administrative expenses

(11,872,255

)

-

(153,868

)

-

Other operating income

1,236,881

-

OPERATING PROFIT

4

1,083,013

-

Interest payable and similar expenses

5

(754,651

)

-

PROFIT BEFORE TAXATION

328,362

-

Tax on profit

6

(1,918

)

-

PROFIT FOR THE FINANCIAL YEAR

326,444

-

Profit attributable to:

Owners of the parent

491,350

-

Non-controlling interests

(164,906

)

-

326,444

-

PROFIT FOR THE YEAR

326,444

-

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

326,444

-

Total comprehensive income attributable to:

Owners of the parent

491,350

-

Non-controlling interests

(164,906

)

-

326,444

-

ASSETS

FIXED ASSETS

Intangible assets

9

3,571,278

-

Property, plant and equipment

10

263,925

-

Investments

11

34,778

-

3,869,981

-

CURRENT ASSETS

Debtors

12

17,812,975

100

Cash at bank and in hand

575,942

-

18,388,917

100

22,258,898

100

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

14

351,350

-

351,450

100

NON-CONTROLLING INTERESTS

15

(197,632

)

-

TOTAL EQUITY

153,818

100

PROVISIONS FOR LIABILITIES

16

9,660

-

CREDITORS

Amounts falling due within one year

17

20,643,652

-

Amounts falling due after more than one year

18

1,451,768

-

22,095,420

-

22,258,898

100

The financial statements were approved by the director and authorised for issue on 13 July 2026 and were signed by:

Ms N M Imam - Director

ASSETS

FIXED ASSETS

Intangible assets

9

-

-

Property, plant and equipment

10

-

-

Investments

11

34,902

-

34,902

-

CURRENT ASSETS

Debtors

12

4,684,170

100

Cash at bank

196

-

4,684,366

100

4,719,268

100

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

14

946,611

-

SHAREHOLDERS' FUNDS

946,711

100

CREDITORS

Amounts falling due within one year

17

3,772,557

-

3,772,557

-

4,719,268

100

Company's profit for the financial year

946,611

-

The financial statements were approved by the director and authorised for issue on 13 July 2026 and were signed by:

Ms N M Imam - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Changes in equity

Issue of share capital

100

-

100

-

100

Balance at 31 March 2024

100

-

100

-

100

Changes in equity

Dividends

-

(140,000

)

(140,000

)

-

(140,000

)

Total comprehensive income

-

491,350

491,350

(164,906

)

326,444

100

351,350

351,450

(164,906

)

186,544

Non-controlling interest arising on business combination

-

-

-

(32,726

)

(32,726

)

Balance at 31 March 2025

100

351,350

351,450

(197,632

)

153,818

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

100

-

100

Balance at 31 March 2024

100

-

100

Changes in equity

Total comprehensive income

-

946,611

946,611

Balance at 31 March 2025

100

946,611

946,711

Cash flows from operating activities

Cash generated from operations

1

(1,113,921

)

(100

)

Interest paid

(378,096

)

-

Finance costs paid

(376,555

)

-

Net cash from operating activities

(1,868,572

)

(100

)

Cash flows from investing activities

Purchase of intangible fixed assets

(844,076

)

-

Purchase of tangible fixed assets

(67,153

)

-

Purchase of fixed asset investments

(34,778

)

-

Sale of intangible fixed assets

191,086

-

Sale of fixed asset investments

3,544,826

-

Net cash of acquired subsidiaries

61,277

-

Net cash from investing activities

2,851,182

-

Cash flows from financing activities

Loan repayments in year

(266,668

)

-

Share issue

-

100

Equity dividends paid

(140,000

)

-

Net cash from financing activities

(406,668

)

100

Increase in cash and cash equivalents

575,942

-

Cash and cash equivalents at beginning of year

2

-

-

Cash and cash equivalents at end of year

2

575,942

-

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

31.3.25

31.3.24

£

£

Profit before taxation

328,362

-

Depreciation charges

451,849

-

Profit on disposal of fixed assets

(1,102,919

)

-

Foreign exchange losses

15,477

-

Reclassification Expenses

71,000

-

Finance costs

754,651

-

518,420

-

Increase in trade and other debtors

(5,065,333

)

(100

)

Increase in trade and other creditors

3,432,992

-

Cash generated from operations

(1,113,921

)

(100

)

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

575,942

-

Year ended 31 March 2024

31/3/24

1/4/23

£

£

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

-

575,942

575,942

-

575,942

575,942

Debt

Debts falling due within 1 year

-

(266,668

)

(266,668

)

Debts falling due after 1 year

-

(1,449,997

)

(1,449,997

)

-

(1,716,665

)

(1,716,665

)

Total

-

(1,140,723

)

(1,140,723

)