REGISTERED NUMBER: 07884900 (England and Wales)

L M PRODUCTS (HOLDINGS) LIMITED

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTOR:

S Worth

REGISTERED OFFICE:

Unit 10,

Union Road

Oldbury

West Midlands

B69 3EX

REGISTERED NUMBER:

07884900 (England and Wales)

AUDITORS:

Sephton & Company LLP

Chartered Certified Accountants

Statutory Auditors

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

The director presents his strategic report of the company and the group for the year ended 31 March 2026.

REVIEW OF BUSINESS

The financial year saw little change in demand across the construction sector, with the wider economy showing no significant signs of improvement.

However, following the restructuring undertaken in the previous year and the successful implementation of new technology, the business operated more efficiently and productively throughout the year, which intern helped reduce operating costs and improve overall performance.

Tight control on procurement was an area we felt we could improve on and with more focus and a planned strategy it enabled the business to achieve a gross profit comparable to the previous year despite generating lower turnover

The business ended the year in profit and with a stronger cash position that will stand us in good stead for the following trading year.

ON BEHALF OF THE BOARD:

S Worth - Director

7 July 2026

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the manufacture and supply of metal and plastic components primarily for the construction industry.

DIVIDENDS

An interim dividend of £2548.78 per share was paid on the Ordinary A £1 shares on 31 March 2026. No dividends were paid on the Ordinary £1 shares.

The total distribution of dividends for the year ended 31 March 2026 will be £ 219,000 .

FUTURE DEVELOPMENTS

The Directors anticipate the business environment will remain competitive but are confident that the financial position and the risks that have been identified are being well managed.

The Directors feel that the business is now on a stronger footing and can take full advantage of our opportunities going forward.

DIRECTOR

S Worth held office during the whole of the period from 1 April 2025 to the date of this report.

FINANCIAL INSTRUMENTS

The group has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in sterling.The group does not enter into any formally designated hedging arrangements.

POLITICAL DONATIONS AND EXPENDITURE

No political donations made during the period.

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). Under company law the director must not approve the financial statements unless he 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;

-	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 him to ensure that the financial statements comply with the Companies Act 2006. He 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Sephton & Company LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S Worth - Director

7 July 2026

Opinion

We have audited the financial statements of L M Products (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 2026 and of the group's profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 three, 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: As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.

We also gained an understanding of the legal and regulatory framework applicable to the entity and the industry in which it operates, drawing on our broad sector experience and considered the risk of acts by the entity that were contrary to these laws and regulations, including fraud.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, health and safety and fire regulations. We also noted, and investigated, the group compliance with ISO 9001:2015 which, while not a legal requirement for an operating business, is central to group operations and impacts consumer confidence in their deliverables.

We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information, for example we obtained documentation that supports compliance with health & safety laws and regulations such as the having ISO 45001:2018 accreditation in place.We also inspected the group's ISO 9001:2015 accreditation certificate ensuring that it was in date and had been issued by a UKAS accredited company.

Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management.

We also completed the following procedures:

- Understood how management considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

-Performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- In addressing the risk of fraud through management override of controls, we tested journal entries and other adjustments for inappropriate or unusual journals outside of our expectations, as well as for any significant transactions outside the normal course of business, taking into consideration the scope for management to manipulate financial results;

-Assessed the appropriateness of key estimates and judgements made by management and challenged the assumptions used in accounting estimates. We considered the key estimates to be going concern, depreciation, bad debt provision and stock being held at the lower of cost and NRV.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organization for fraud and identified the greatest potential for fraud in the following areas:

- Posting of unusual journals and complex transactions;

- Manipulation of amounts subject to significant judgement or estimate;

- Recognising revenue for transactions that do not meet the criteria for revenue recognition; and

- Completeness and valuation of related party transactions.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher detection of fraud as these may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. Out audit procedures are designed to detect material misstatement. We are no responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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.

Darren Paul Carter (Senior Statutory Auditor)

for and on behalf of Sephton & Company LLP

Chartered Certified Accountants

Statutory Auditors

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

7 July 2026

TURNOVER

12,424,302

13,396,758

Cost of sales

9,644,939

10,630,196

GROSS PROFIT

2,779,363

2,766,562

Distribution costs

521,844

592,006

Administrative expenses

1,946,624

1,927,030

2,468,468

2,519,036

310,895

247,526

Other operating income

3

4,111

41,079

OPERATING PROFIT

5

315,006

288,605

Interest receivable and similar income

48,353

81,111

PROFIT BEFORE TAXATION

363,359

369,716

Tax on profit

6

91,081

86,390

PROFIT FOR THE FINANCIAL YEAR

272,278

283,326

Profit attributable to:

Owners of the parent

270,086

271,757

Non-controlling interests

2,192

11,569

272,278

283,326

PROFIT FOR THE YEAR

272,278

283,326

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

272,278

283,326

Total comprehensive income attributable to:

Owners of the parent

270,086

271,757

Non-controlling interests

2,192

11,569

272,278

283,326

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

767,566

911,280

Investments

11

-

-

767,566

911,280

CURRENT ASSETS

Stocks

12

2,204,338

1,808,714

Debtors

13

3,069,211

2,788,274

Cash at bank and in hand

4,211,690

3,889,503

9,485,239

8,486,491

CREDITORS

Amounts falling due within one year

14

3,340,725

2,499,214

NET CURRENT ASSETS

6,144,514

5,987,277

TOTAL ASSETS LESS CURRENT LIABILITIES

6,912,080

6,898,557

CREDITORS

Amounts falling due after more than one year

15

(4,490

)

(8,513

)

PROVISIONS FOR LIABILITIES

16

(186,391

)

(222,123

)

NET ASSETS

6,721,199

6,667,921

CAPITAL AND RESERVES

Called up share capital

17

82

82

Capital redemption reserve

18

18

18

Retained earnings

18

6,332,447

6,281,361

SHAREHOLDERS' FUNDS

6,332,547

6,281,461

NON-CONTROLLING INTERESTS

388,652

386,460

TOTAL EQUITY

6,721,199

6,667,921

The financial statements were approved by the director and authorised for issue on 7 July 2026 and were signed by:

S Worth - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

534,187

634,330

Investments

11

364,445

364,445

898,632

998,775

CURRENT ASSETS

Debtors

13

902,761

601,239

Cash at bank and in hand

1,271,530

1,452,197

2,174,291

2,053,436

CREDITORS

Amounts falling due within one year

14

77,964

41,649

NET CURRENT ASSETS

2,096,327

2,011,787

TOTAL ASSETS LESS CURRENT LIABILITIES

2,994,959

3,010,562

PROVISIONS FOR LIABILITIES

16

133,547

158,583

NET ASSETS

2,861,412

2,851,979

CAPITAL AND RESERVES

Called up share capital

17

82

82

Capital redemption reserve

18

18

18

Retained earnings

18

2,861,312

2,851,879

SHAREHOLDERS' FUNDS

2,861,412

2,851,979

Company's profit for the financial year

218,433

51,948

The financial statements were approved by the director and authorised for issue on 7 July 2026 and were signed by:

S Worth - Director

Called up

Capital

share

Retained

redemption

capital

earnings

reserve

£

£

£

Balance at 1 April 2024

82

6,180,604

18

Changes in equity

Dividends

-

(171,000

)

-

Total comprehensive income

-

271,757

-

Balance at 31 March 2025

82

6,281,361

18

Changes in equity

Dividends

-

(219,000

)

-

Total comprehensive income

-

270,086

-

Balance at 31 March 2026

82

6,332,447

18

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 April 2024

6,180,704

374,891

6,555,595

Changes in equity

Dividends

(171,000

)

-

(171,000

)

Total comprehensive income

271,757

11,569

283,326

Balance at 31 March 2025

6,281,461

386,460

6,667,921

Changes in equity

Dividends

(219,000

)

-

(219,000

)

Total comprehensive income

270,086

2,192

272,278

Balance at 31 March 2026

6,332,547

388,652

6,721,199

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2024

82

2,970,931

18

2,971,031

Changes in equity

Dividends

-

(171,000

)

-

(171,000

)

Total comprehensive income

-

51,948

-

51,948

Balance at 31 March 2025

82

2,851,879

18

2,851,979

Changes in equity

Dividends

-

(209,000

)

-

(209,000

)

Total comprehensive income

-

218,433

-

218,433

Balance at 31 March 2026

82

2,861,312

18

2,861,412

Cash flows from operating activities

Cash generated from operations

1

399,747

819,603

Government grants

4,111

-

Tax paid

88,664

(102,986

)

Net cash from operating activities

492,522

716,617

Cash flows from investing activities

Purchase of tangible fixed assets

(9,780

)

(377,405

)

Sale of tangible fixed assets

-

41,656

Interest received

48,353

81,111

Net cash from investing activities

38,573

(254,638

)

Cash flows from financing activities

Amount introduced by directors

219,000

171,019

Amount withdrawn by directors

(208,908

)

(170,631

)

Equity dividends paid

(219,000

)

(171,000

)

Net cash from financing activities

(208,908

)

(170,612

)

Increase in cash and cash equivalents

322,187

291,367

Cash and cash equivalents at beginning of year

2

3,889,503

3,598,136

Cash and cash equivalents at end of year

2

4,211,690

3,889,503

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

2026

2025

£

£

Profit before taxation

363,359

369,716

Depreciation charges

153,495

143,360

Profit on disposal of fixed assets

-

(14,772

)

Government grants

(4,111

)

12,626

Finance income

(48,353

)

(81,111

)

464,390

429,819

(Increase)/decrease in stocks

(395,624

)

203,966

Increase in trade and other debtors

(369,601

)

(123,404

)

Increase in trade and other creditors

700,582

309,222

Cash generated from operations

399,747

819,603

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2026

31/3/26

1/4/25

£

£

Cash and cash equivalents

4,211,690

3,889,503

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

3,889,503

3,598,136

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/25

Cash flow

At 31/3/26

£

£

£

Net cash

Cash at bank and in hand

3,889,503

322,187

4,211,690

3,889,503

322,187

4,211,690

Total

3,889,503

322,187

4,211,690

1.	STATUTORY INFORMATION

L M Products (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Group (its subsidiaries). Control is achieved where the Group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

All subsidiaries acquired are recognised under the purchase method.

Significant judgements and estimates

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

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises turnover at the point of goods despatch in line with their invoicing procedures. It does not have any material amounts of deferred income recognised in its liabilities.

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.