REGISTERED NUMBER: 06304697 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

DRIVE SYSTEM DESIGN LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

D F Kelly

M F Ahmad

S Venkatraman

J Allen

REGISTERED OFFICE:

Unit B

Sydenham Industrial Estate

Leamington Spa

Warwickshire

CV31 1NB

REGISTERED NUMBER:

06304697 (England and Wales)

AUDITORS:

Dafferns Audit Limited

Chartered Accountants

Statutory Auditor

One Eastwood

Harry Weston Road

Binley Business Park

Coventry

CV3 2UB

The directors present their strategic report for the year ended 31 March 2026.

REVIEW OF BUSINESS

The principal activity of the Company is the provision of consultancy services in powertrain and driveline engineering to the automotive and other industries on an international basis.

The key performance indicators used by management to assess the development of the business are analysed below.

Turnover for year ended 31 March 2026 was £14.4m (2025: £15.1m).

Operating profit (before exceptional items) for the year ended 31 March 2026 was £0.8m (2025: £2.7m).

The Company is aware of its sustainability responsibilities and has proudly used green energy since 2020. It is ISO 14001 compliant, and future use of renewable energy and resources is fundamental to our business decisions.

KEY PERFORMANCE INDICATORS

The directors monitor a number of financial key performance indicators; staff and asset utilisation; order intake and sales pipeline; project performance; sales revenues and operating profits; and cashflow.

The directors also monitor non-financial key performance indicators including customer feedback, headcount, retention and asset utilisation.

PRINCIPAL RISKS AND UNCERTAINTIES

The following is a summary of the principal risks that the Company is exposed to. The directors proactively identify risks and implement mitigation plans across the businesses as part of the risk management process.

Customers and Markets

The Company is dependent on an increasingly disrupted and highly dynamic market place exposed to many external pressures and macroeconomic factors which can result in loss of orders or delayed orders. This is mitigated by ensuring we have a wide portfolio of potential customers and understand their critical needs and requirements.

Innovation

The Company must continually develop new methods and technical solutions to meet customer needs and to maintain its market position. This is mitigated by substantial investment in internal and collaborative research projects.

People

Attracting and retaining the best talent is essential to delivering our strategy. This risk is managed by selective recruitment and an internal talent management process.

FUTURE DEVELOPMENTS AND R&D

Delivering electrification, hybridisation and traditional driveline programs into a diverse range of sectors and markets remains a key strategic component for the Company. Continuous development of the company's capability and offering to support these sectors, as well as further diversification is a key focus for the future.

OUTLOOK

Whilst market conditions remain challenging, the management team remain confident in the future of the business.

ON BEHALF OF THE BOARD:

J Allen - Director

13 August 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of consultancy services in powertrain and driveline engineering.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2026.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

D F Kelly

M F Ahmad

S Venkatraman

Other changes in directors holding office are as follows:

M E Findlay - resigned 12 December 2025

J Allen - appointed 27 February 2026

DISCLOSURE IN THE STRATEGIC REPORT

Future developments and R&D have been detailed in the strategic report in accordance with s414C(11) CA 2006.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

J Allen - Director

13 August 2026

Opinion

We have audited the financial statements of Drive System Design Limited (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its loss for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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:

-

Enquiry of management and those charged with governance around actual and potential litigation and claims;

-

Reviewing minutes of meetings of those charged with governance;

-

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

-

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

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.

Geoffrey Cox BA FCA (Senior Statutory Auditor)

for and on behalf of Dafferns Audit Limited

Chartered Accountants

Statutory Auditor

One Eastwood

Harry Weston Road

Binley Business Park

Coventry

CV3 2UB

13 August 2026

TURNOVER

4

14,396,274

15,100,991

Cost of sales

2,248,121

1,499,580

GROSS PROFIT

12,148,153

13,601,411

Administrative expenses

13,081,466

11,416,471

(933,313

)

2,184,940

Other operating income

5

1,735,399

509,437

OPERATING PROFIT

7

802,086

2,694,377

Exceptional items

8

869,923

-

(67,837

)

2,694,377

Interest receivable and similar income

11,741

16,381

(56,096

)

2,710,758

Interest payable and similar expenses

9

18,213

202

(LOSS)/PROFIT BEFORE TAXATION

(74,309

)

2,710,556

Tax on (loss)/profit

10

348,863

916,863

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(423,172

)

1,793,693

(LOSS)/PROFIT FOR THE YEAR

(423,172

)

1,793,693

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(423,172

)

1,793,693

FIXED ASSETS

Tangible assets

12

4,368,964

5,460,806

Investments

13

67,940

937,863

4,436,904

6,398,669

CURRENT ASSETS

Stocks

14

89,638

-

Debtors

15

7,771,206

6,104,637

Cash at bank

1,669,046

1,257,401

9,529,890

7,362,038

CREDITORS

Amounts falling due within one year

16

3,845,192

2,980,995

NET CURRENT ASSETS

5,684,698

4,381,043

TOTAL ASSETS LESS CURRENT LIABILITIES

10,121,602

10,779,712

CREDITORS

Amounts falling due after more than one year

17

(59,895

)

(70,833

)

PROVISIONS FOR LIABILITIES

19

(584,000

)

(808,000

)

NET ASSETS

9,477,707

9,900,879

CAPITAL AND RESERVES

Called up share capital

20

200

200

Retained earnings

21

9,477,507

9,900,679

SHAREHOLDERS' FUNDS

9,477,707

9,900,879

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

J Allen - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2024

200

14,884,986

14,885,186

Changes in equity

Dividends

-

(6,778,000

)

(6,778,000

)

Total comprehensive income

-

1,793,693

1,793,693

Balance at 31 March 2025

200

9,900,679

9,900,879

Changes in equity

Total comprehensive income

-

(423,172

)

(423,172

)

Balance at 31 March 2026

200

9,477,507

9,477,707

1.	STATUTORY INFORMATION

Drive System Design Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The Company's financial statements are presented in pound sterling and this is its functional currency.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements

The financial statements contain information about Drive System Design Limited as an individual company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 405 of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Drive System Design s.r.o as the only subsidiary undertaking is not material and its inclusion is not considered necessary for the purpose of giving a true and fair view.

Turnover

Turnover represents the fair value of services provided during the year on client assignments or grant funded projects. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on the time spent, skills and expertise provided and expenses incurred.

Turnover excludes discounts, rebates, value added tax and other sales taxes.

Unbilled turnover on individual client assignments is included within trade debtors.

Grants

Revenue grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Revenue grants are included in turnover when recognised and carried as deferred income within creditors where the conditions have not been fully satisfied at the balance sheet date.

Capital grants are recognised as income on a systematic basis over the periods necessary to match them with the related costs which they are intended to compensate. Capital grants are included in other operating income when recognised and the unrecognised portion is carried as deferred government grants within creditors.

Tangible fixed assets

Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the Income Statement in the period in which they are incurred.

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

Freehold property

- 5% straight line

Fixtures and fittings

- 10%-33.33% straight line

Motor vehicles

- 20% straight line

Computer equipment

- 33% straight line

Any gains and losses on the disposal of tangible fixed assets are recognised in the Income Statement in the year that the disposal takes place.

Investments in subsidiaries and associates

Investments in subsidiary undertakings and associates are valued at cost less any accumulated impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of raw materials includes all costs in bringing the product to its current location and condition, whilst the cost of finished goods incudes materials and direct labour. Stocks are maintained on a first in, first out basis.

As stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised.

At each reporting date, stocks are assessed for impairment and due allowances are made for obsolete and slow-moving items to reduce the carrying amount of these goods to their estimated selling price less costs to complete and sell. The amount of any write-down is recognised as an expense in the period that the write-down occurs. The reversal of any previous write-down is recognised as a reduction in the amount of stock expensed in the period that the reversal occurs.

Financial instruments

Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Other financial assets and liabilities, such as loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Research and development

Expenditure on research and development (R&D) is written off in the year in which it is incurred.

R&D expenditure tax credits are recognised as other operating income within the Income Statement.

Foreign currencies

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

Pension costs and other post-retirement benefits

The Company operates a defined contribution pension scheme for its employees. Contributions payable to the Company's pension scheme are charged to the Income Statement in the period to which they relate. A defined contribution plan is a pension scheme under which the Company pays fixed contributions into an independently administered fund and has no further obligations once the contributions have been paid.

4.

TURNOVER

The turnover and loss (2025 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2026

2025

£

£

United Kingdom

6,419,378

7,259,681

Europe

1,568,083

1,889,097

Rest of World

6,408,813

5,952,213

14,396,274

15,100,991

5.	OTHER OPERATING INCOME

2026

2025

£

£

Rental income

-

38,000

Sundry receipts

1,339

940

Management charge income

423,468

333,493

R&D expenditure tax credit

1,299,654

130,441

Capital grants

10,938

6,563

1,735,399

509,437

The Company incurs various centralised support and management costs on behalf of other group and related companies. A proportion of this expenditure is recharged to the respective parties and the income accounted for in other operating income.

R&D expenditure tax credits are comprised of a £493,654 under provision following submission of the 2024 claim, a £306,000 uplift in respect of the 2025 estimated R&D claim, and a £500,000 estimate for 2026. Final recoverability is subject to submission of claims, HMRC agreement and statutory restrictions.

6.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

7,792,817

7,096,829

Social security costs

975,729

773,696

Other pension costs

360,517

310,645

9,129,063

8,181,170

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

2026

2025

Direct

94

85

Support

23

23

117

108

2026

2025

£

£

Directors' remuneration

346,799

439,601

Directors' pension contributions to money purchase schemes

17,233

22,149

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

Money purchase schemes

3

2

Information regarding the highest paid director is as follows:

2026

2025

£

£

Emoluments etc

175,846

221,004

Pension contributions to money purchase schemes

8,732

11,047

Total compensation for key management personnel (including employers national insurance) during the year totalled £856,388 (2025: £936,299).

7.	OPERATING PROFIT

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

2026

2025

£

£

Depreciation - owned assets

1,397,720

915,254

Profit on disposal of fixed assets

-

(11,492

)

Auditors' remuneration

13,450

15,150

Foreign exchange differences

89,730

64,145

Operating lease payments

72,624

-

Research and development

246,913

143,839

Stock impairment (gains) / losses

(25,000

)

(185,960

)

8.	EXCEPTIONAL ITEMS

2026

2025

£

£

Exceptional items

(869,923

)

-

Exceptional items reflects the cost associated the prudent decision taken by management to impair the Company's investment interest in its associate undertakings.

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

2026

2025

£

£

Other interest payable

18,213

202

10.

TAXATION

Analysis of the tax charge

The tax charge on the loss for the year was as follows:

2026

2025

£

£

Current tax:

UK corporation tax

376,000

762,298

Prior year adjustment

196,863

(31,435

)

Total current tax

572,863

730,863

Deferred tax

(224,000

)

186,000

Tax on (loss)/profit

348,863

916,863

Reconciliation of total tax charge included in profit and loss

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

2026

2025

£

£

(Loss)/profit before tax

(74,309

)

2,710,556

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

(18,577

)

677,639

Effects of:

Expenses not deductible for tax purposes

292,159

20,997

Income not taxable for tax purposes

(2,734

)

(1,641

)

Adjustments to tax charge in respect of previous periods

196,863

(31,435

)

Adjustment to deferred tax charge in respect of previous periods

(8,484

)

23,924

Deferred tax rounding differences

159

(375

)

R&D credits taxed in previous years

(123,414

)

15,890

WHT taken as an expense

12,891

211,864

Total tax charge

348,863

916,863

11.

DIVIDENDS

2026

2025

£

£

Ordinary A shares of £1 each

Interim

-

3,660,120

Ordinary B shares of £1 each

Interim

-

3,117,880

-

6,778,000

12.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

2,088,623

6,246,981

40,225

1,202,891

9,578,720

Additions

10,844

174,548

-

120,486

305,878

Disposals

-

-

-

(162,937

)

(162,937

)

At 31 March 2026

2,099,467

6,421,529

40,225

1,160,440

9,721,661

DEPRECIATION

At 1 April 2025

813,334

2,462,433

40,225

801,922

4,117,914

Charge for year

90,128

1,087,606

-

219,986

1,397,720

Eliminated on disposal

-

-

-

(162,937

)

(162,937

)

At 31 March 2026

903,462

3,550,039

40,225

858,971

5,352,697

NET BOOK VALUE

At 31 March 2026

1,196,005

2,871,490

-

301,469

4,368,964

At 31 March 2025

1,275,289

3,784,548

-

400,969

5,460,806

Included within freehold property is land with a value of £313,500 (2025: £313,500) which is not depreciated.

13.	FIXED ASSET INVESTMENTS

Interest

Shares in

Interest

in

group

in joint

associate

undertakings

venture

undertakings

Totals

£

£

£

£

COST

At 1 April 2025

67,940

869,923

-

937,863

Reclassification

-

(869,923

)

869,923

-

At 31 March 2026

67,940

-

869,923

937,863

PROVISIONS

Impairments

-

-

869,923

869,923

At 31 March 2026

-

-

869,923

869,923

NET BOOK VALUE

At 31 March 2026

67,940

-

-

67,940

At 31 March 2025

67,940

869,923

-

937,863

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

Subsidiary