REGISTERED NUMBER: 05728067 (England and Wales)

LIMBTEX LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

8

DIRECTORS:

M J Goodall

J Mahe

P M Steeper

SECRETARY:

E C Harvey-Kitching

REGISTERED OFFICE:

Unit 3 Stourton Link

Intermezzo Drive

Leeds

West Yorkshire

LS10 1DF

REGISTERED NUMBER:

05728067 (England and Wales)

INDEPENDENT AUDITORS:

MHA (Statutory Auditor)

2 London Wall Place

London

United Kingdom

EC27 5AU

FIXED ASSETS

Tangible assets

5

176,245

208,237

CURRENT ASSETS

Stocks

506,595

480,124

Debtors

6

280,617

811,442

Cash at bank and in hand

541,101

25,903

1,328,313

1,317,469

CREDITORS

Amounts falling due within one year

7

424,297

570,609

NET CURRENT ASSETS

904,016

746,860

TOTAL ASSETS LESS CURRENT LIABILITIES

1,080,261

955,097

CREDITORS

Amounts falling due after more than one year

8

(4,917

)

(19,346

)

PROVISIONS FOR LIABILITIES

(33,586

)

(40,708

)

NET ASSETS

1,041,758

895,043

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,041,658

894,943

1,041,758

895,043

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 15 September 2026 and were signed on its behalf by:

M J Goodall - Director

1.	STATUTORY INFORMATION

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

The length of the previous accounting period was shortened to 9 months to align with the group, meaning that the comparatives are not entirely comparable.

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" including the provisions of Section 1A "Small Entities" 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.

The following criteria must also be met before revenue is recognised:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

These criteria are considered to be met when the goods are delivered to the buyer.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised.

The cost of stock is based on the aggregated actual cost price and includes expenditure incurred in acquiring stock, production or conversion costs, and other costs incurred in bringing them to their existing location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to/from related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of debtors. The amount of the provision is determined as the difference between the asset's carrying amount and the present value of estimated future cash flows, and is recognised in the profit & loss in operating expenses.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 October 2024

127,466

392,432

28,803

548,701

Additions

-

12,500

1,479

13,979

At 30 September 2025

127,466

404,932

30,282

562,680

DEPRECIATION

At 1 October 2024

59,010

261,455

19,999

340,464

Charge for year

10,292

33,265

2,414

45,971

At 30 September 2025

69,302

294,720

22,413

386,435

NET BOOK VALUE

At 30 September 2025

58,164

110,212

7,869

176,245

At 30 September 2024

68,456

130,977

8,804

208,237

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

(Unaudited)

£

£

Trade debtors

244,398

360,580

Amounts owed by group undertakings

4,351

3,456

Other debtors

7,854

415,749

Prepayments and accrued income

24,014

31,657

280,617

811,442

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

(Unaudited)

£

£

Bank loans and overdrafts

-

32,407

Hire purchase contracts and finance leases (see note 9)

13,943

21,434

Trade creditors

251,041

307,805

Amounts owed to group undertakings

27,047

986

Taxation & Social Security

105,345

50,323

Other creditors

-

142,265

Accruals and deferred income

26,921

15,389

424,297

570,609

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

(Unaudited)

£

£

Hire purchase contracts and finance leases (see note 9)

4,917

19,346

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

2025

2024

2025

2024

(Unaudited)

(Unaudited)

£

£

£

£

Net obligations repayable:

Within one year

13,943

12,732

-

8,702

Between one and five years

4,917

18,860

-

486

18,860

31,592

-

9,188

Non-cancellable

operating leases

2025

2024

(Unaudited)

£

£

Within one year

41,874

90,341

Between one and five years

-

41,874

41,874

132,215

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

(Unaudited)

£

£

Bank loans

-

32,407

Hire purchase contracts and finance leases

18,860

40,780

18,860

73,187

The hire purchase contracts and finance leases are secured by the assets they relate to.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was qualified on the following basis:

Basis for qualified opinion

We were not appointed as auditors of the Company until after 30 September 2024 and thus did not observe the counting of physical inventories at 30 September 2024. We were unable to satisfy ourselves by alternative means in respect of the inventory quantities held at 30 September 2024, which are included in the balance sheet at £480,124, by using other audit procedures. Consequently, we were unable to determine whether any adjustment to the inventory value at 30 September 2024 was necessary or whether there was any consequential effect on the cost of sales for the year ended 30 September 2025.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 qualified opinion.

Stephen Poleykett BA Hons FCA (Senior Statutory Auditor)

For and on behalf of MHA (Statutory Auditor)

MHA is the trading name of MHA Audit Services LLP, a limited liability

partnership in England and Wales (registered number OC455542).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 September 2025 and the period ended 30 September 2024:

2025

2024

(Unaudited)

£

£

M J Goodall

Balance outstanding at start of year

138,612

74,374

Amounts advanced

-

138,612

Amounts repaid

(138,612

)

(74,374

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

138,612

13.	RELATED PARTY DISCLOSURES

At the balance sheet date £nil (2024: £267,474)) was owed by companies under common control.

No interest has been charged on this amount.

14.	PARENT / SUBSIDIARY RELATIONS

On 25th October 2024, 100% of the shares of Limbtex Holdings Limited (which previously was the ultimate parent undertaking) were acquired by Ortho Dev UK Limited, whose ultimate parent undertaking is Eqwal Group SAS. There is no ultimate controlling party.

The financial statements of Eqwal Group SAS, which is the largest and smallest group in which the results of the Company are consolidated, are available from Unit 3, Stourton Link, Intermezzo Drive, Leeds, LS10 1DF.