REGISTERED NUMBER: 03739479 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 September 2025

for

Katmex Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

9

Balance Sheet

10

Notes to the Financial Statements

11

DIRECTORS:

F Di Palma

C Pattinson

A Shubber

REGISTERED OFFICE:

Bowron Street

Stockton On Tees

Cleveland

TS20 2BH

REGISTERED NUMBER:

03739479 (England and Wales)

SENIOR STATUTORY AUDITOR:

Martin Hobson BA (Hons), FCCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

Great North House, 20 Allington Way

Darlington

County Durham

DL1 4QB

The directors present their Strategic Report for Katmex Limited (company number 03739479), a company registered in England and Wales (hereinafter the "Company"), for the year ended 30 September 2025.

Fair review of the business

Turnover for the year was £10,992,311 (2024: £10,698,988), a modest increase on the prior year. Demand from original equipment manufacturers in the construction equipment sector remained subdued, reflecting a global downturn in demand for new machinery, and turnover in the United Kingdom fell; this was more than offset by growth in sales to European customers. Material costs fell over the same period and the Company returned a small gross profit of £68,958 (2024: gross loss of £327,594).

Administrative and distribution costs increased, principally in energy, repairs and maintenance, depreciation and carriage, so that the operating loss for the year of £1,944,853 was broadly in line with the prior year (2024: £2,026,815). The loss for the financial year after taxation was £2,073,126 (2024: £1,502,934), the increase reflecting a deferred tax charge in the year compared with a deferred tax credit in the prior year. Cash at bank at the year end was £306,069 (2024: £1,341,549) and net assets were £4,948,281 (2024: £7,021,407).

On 18 August 2026, after the year end, the Company was acquired by Lumina Innovations Limited (company number 14696378), a company registered in England and Wales (hereinafter "Lumina Innovations"), which is wholly owned by Lumina Technology Inc., a corporation incorporated under the laws of the State of Delaware, United States of America (hereinafter the "Parent Company"). The acquisition gives the Company access to the scale, capital and technology of the Lumina group to support the diversification and automation plans set out below.

The Company continues to pursue diversification into new sectors to reduce its exposure to a single market, and to expand the use of automation across its production and administrative processes.

Principal risks and uncertainties

The directors have identified the following principal risks and uncertainties affecting the Company:

Steel pricing and availability

Long supplier lead times remain a key risk. The Company holds appropriate inventory and manages orders in progress to meet customer demand and mitigate disruption, and reviews its supply chain regularly. Demand for steel and the commodities used in its production fell during the period, and the availability of materials was not an issue as a result. The Company maintains regular dialogue with its customers and suppliers to agree price changes for defined periods, so that no party suffers a detrimental impact from price movements.

Exchange rate volatility

The Company uses hedging mechanisms and exchange rate impact agreements with customers to minimise foreign exchange risk where possible. Following the acquisition, the Company also has GBP/USD exposure on transactions with the Parent Company, which is monitored at group level.

Employee retention

The recruitment market in the sector remains challenging. The Company mitigates this through the recruitment of apprentices and the upskilling of existing employees. The retention of skilled welders is a particular risk given pay competition in the market, and the Company is introducing a banded pay structure for welders to address this.

Key performance indicators

The company monitors its performance using the following;

Measure

2025

2024

Gross profit as % of turnover

0.63%

(3.06)%

Pre-tax profit as % of turnover

(17.68)%

(18.94)%

Liquidity

£306,069

£1,341,549

Debtors days

27 days

47 days

Creditors days

81 days

87 days

Future developments

The Company continues to invest in the development of its employees and in new machinery, and will pursue new revenue with existing customers and in new markets.

Prior to the acquisition, the Company's former group consolidated its operations onto the Company's single site at Stockton-on-Tees, with staff from the former Seaham facility relocating to Stockton to maximise the output of the larger site.

Following the acquisition, the Company benefits from the management, financial and business improvement resources of the Lumina group. The Parent Company develops electric construction equipment, and the Company expects to fabricate prototype units for the group at its Stockton facility during 2026 using existing capacity. These units are for use within the group and there are no current plans to sell them to the external market.

The forecast for the year ending 30 September 2026 remains challenging. The directors are targeting profitability in the year ending 30 September 2027.

Going concern

On 7 September 2026, Lumina Innovations provided the Company with a letter of support under which it agreed unconditionally and irrevocably to provide the Company with adequate financial support, whether in the form of a capital contribution, a loan or another form of support, to ensure its business continuity for a period of 12 months from the date of approval of these financial statements, or until a major change in the ownership of the Company (a new investor acquiring or becoming the beneficial owner of more than 50% of its voting rights), whichever is sooner. The Parent Company has confirmed its intention to provide Lumina Innovations with such financial support as may be required for that purpose. Lumina Innovations has also introduced funds to the Company since the acquisition to support its cash flow.

Notwithstanding the losses incurred in the current and prior year, the directors consider it appropriate to prepare the financial statements on a going concern basis and have concluded that there is no material uncertainty in relation to going concern, on the basis of the support described above.

ON BEHALF OF THE BOARD:

C Pattinson - Director

25 September 2026

The directors present their report with the financial statements of the company for the year ended 30 September 2025.

DIVIDENDS

No dividends will be distributed for the year ended 30 September 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR

D Mitchell held office from 1 October 2024 until after 30 September 2025 but prior to the date of this report.

F Di Palma , C Pattinson and A Shubber were appointed as directors after 30 September 2025 but prior to the date of this report.

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.

AUDITORS

The auditors, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

C Pattinson - Director

25 September 2026

Qualified opinion

We have audited the financial statements of Katmex Limited (the 'company') for the year ended 30 September 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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, except for the effects of the matters described in the basis for qualified opinion section of the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2025 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 qualified opinion

The company has jobs which it has started work on, but are not complete at the period end. These are included as work-in-progress, which is part of the stock figure on the balance sheet, as detailed in note 9 of the financial statements, totalling £940,136. This work in progress is valued using the cost of the raw materials involved, plus an allocation of the labour costs involved on the jobs, as well as overhead absorption. The company does not currently have a system which can track how far the job has progressed at any one time. As a result the company applies an estimate of the stage of completion to all jobs. We were unable to obtain sufficient evidence in relation to that estimate, and as a result are unable to confirm if work in progress is materially misstated. This qualification also covers to the opening work in progress figure at 30 September 2024 of £458,135.

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 qualified 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.

Key audit matters

Except for the matter described in the basis for qualified opinion section.we have determined that there are no key audit matters to be communicated in our 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 four, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

- Understanding the key legal and regulatory frameworks that are applicable to the group. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be financial reporting legislation, taxation legislation, health & safety, employment law, company law and ISO9001 regulations.

- Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance.

- Review of board minutes and correspondence with regulators.

- Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed.

- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.

- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance 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.

Martin Hobson BA (Hons), FCCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants

& Statutory Auditors

Great North House, 20 Allington Way

Darlington

County Durham

DL1 4QB

25 September 2026

TURNOVER

3

10,992,311

10,698,988

Cost of sales

(10,923,353

)

(11,026,582

)

GROSS PROFIT/(LOSS)

68,958

(327,594

)

Distribution costs

(161,250

)

(96,397

)

Administrative expenses

(1,858,561

)

(1,608,779

)

(1,950,853

)

(2,032,770

)

Other operating income

6,000

5,955

OPERATING LOSS

5

(1,944,853

)

(2,026,815

)

Interest receivable and similar income

18,911

85,245

(1,925,942

)

(1,941,570

)

Interest payable and similar expenses

6

(17,823

)

(25,012

)

LOSS BEFORE TAXATION

(1,943,765

)

(1,966,582

)

Tax on loss

7

(129,361

)

463,648

LOSS FOR THE FINANCIAL YEAR

(2,073,126

)

(1,502,934

)

Retained earnings at beginning of year

4,621,407

6,124,341

RETAINED EARNINGS AT END OF YEAR

2,548,281

4,621,407

FIXED ASSETS

Tangible assets

8

3,616,771

3,893,297

CURRENT ASSETS

Stocks

9

1,810,350

1,632,124

Debtors

10

2,259,936

3,379,433

Cash at bank and in hand

306,069

1,341,549

4,376,355

6,353,106

CREDITORS

Amounts falling due within one year

11

(2,992,288

)

(3,071,535

)

NET CURRENT ASSETS

1,384,067

3,281,571

TOTAL ASSETS LESS CURRENT LIABILITIES

5,000,838

7,174,868

CREDITORS

Amounts falling due after more than one year

12

(52,557

)

(153,461

)

NET ASSETS

4,948,281

7,021,407

CAPITAL AND RESERVES

Called up share capital

16

2,400,000

2,400,000

Retained earnings

17

2,548,281

4,621,407

SHAREHOLDERS' FUNDS

4,948,281

7,021,407

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2026 and were signed on its behalf by:

C Pattinson - Director

1.	STATUTORY INFORMATION

Katmex 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.

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.

There were no departures from this standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern

The directors assesses whether the use of the going concern basis is appropriate, and make their assessment in respect of a period of at least one year from the date the financial statements are approved. They takes into account current cashflow, forecasts for the year ahead and recent performance, as well as any other relevant information.

The company has incurred substantial losses for the last two years to 30 September 2025. Whilst losses have continued in the early part of 2026, at the date of the approval of the financial statements the directors are predicting a return to profitability for the rest of this year and into 2027.

In August 2026 the company was acquired by Lumina Innovations Limited, a UK company which is wholly owned by Lumina Technologies Inc - a company registered in Delaware, USA. Lumina has introduced funds to Katmex Limited to assist with its cashflow, and has also provided a letter of support to the directors, confirming their intention provide support, should it be needed, for a period of at least one year following the date of the approval of the financial statements.

On that basis the directors believe that it is correct to use the going concern basis.

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.

Significant judgements and estimates

The following judgements have been made in the process of applying the usual accounting policies that have had the most significant effect on amounts recognised in the financial statements:

- Work-in-progress calculation. An estimate of 50% completion has been made when calculating the value of work-in-progress.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Income represents the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on delivery of goods or when the services have been provided), 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.

Tangible fixed assets

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

Freehold property

-

6.67% on cost

Assets under construction

-

not provided

Plant and machinery

-

10 - 20 % on cost

Motor vehicles

-

20% - 33%

Computer equipment

-

10% - 33% on cost

Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Government grants

Revenue based grants have been credited to the profit and loss account in the period to which they relate. Capital based grants are accounted for using the accruals model and have been transferred to a deferred credit and released to the profit and loss over the useful life of the asset, as disclosed above.

Stocks

Raw materials are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated using the first-in, first-out method.

Work in progress is measured at raw material costs, plus an estimate of the amount of labour costs incurred on the jobs up to the period end as well as absorption of overheads.

Finished goods are valued at raw material costs, plus an estimate of labour costs incurred on the jobs as well as absorption of overheads.

Financial instruments

Debtors

Short term debtors are measured at transaction price. Other financial assets including cash and bank are measured at fair value.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank 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.

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.

Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful economic lives. The interest element of these obligations is charged to the profit or loss account over the relevant period.

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.

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

8,829,033

9,175,189

Europe

2,163,278

1,523,799

10,992,311

10,698,988

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,979,730

2,997,017

Social security costs

338,135

272,419

Other pension costs

109,847

118,282

3,427,712

3,387,718

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

2025

2024

Production

96

95

Administration

8

10

104

105

2025

2024

£

£

Director's remuneration

12,044

8,594

Director's pension contributions to money purchase schemes

36,000

36,000

5.	OPERATING LOSS

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

2025

2024

£

£

Hire of plant and machinery

9,645

14,533

Depreciation - owned assets

399,378

264,211

(Profit)/loss on disposal of fixed assets

(5,553

)

2,000

Auditors' remuneration

17,000

14,500

Foreign exchange differences

(45,406

)

80,005

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

13,675

22,175

Bank loan interest

1,617

-

Hire purchase

2,531

2,837

17,823

25,012

7.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

100

-

Deferred tax:

Deferred tax

-

(476,133

)

Overprovision in prior year

129,261

12,485

Total deferred tax

129,261

(463,648

)

Tax on loss

129,361

(463,648

)

Reconciliation of total tax charge/(credit) 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:

2025

2024

£

£

Loss before tax

(1,943,765

)

(1,966,582

)

Loss multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(485,941

)

(491,646

)

Effects of:

Expenses not deductible for tax purposes

22,442

-

Depreciation in excess of capital allowances

463,599

15,153

Adjustments to tax charge in respect of previous periods

129,261

12,730

Other permanent differences

-

115

Total tax charge/(credit)

129,361

(463,648

)

8.	TANGIBLE FIXED ASSETS

Assets

Freehold

under

Plant and

property

construction

machinery

£

£

£

COST

At 1 October 2024

4,136,760

177,745

4,792,335

Additions

67,196

-

15,736

Disposals

-

-

(60,201

)

Reclassification/transfer

-

(167,654

)

167,654

At 30 September 2025

4,203,956

10,091

4,915,524

DEPRECIATION

At 1 October 2024

1,667,648

-

3,718,247

Charge for year

162,254

-

182,749

Eliminated on disposal

-

-

(60,201

)

At 30 September 2025

1,829,902

-

3,840,795

NET BOOK VALUE

At 30 September 2025

2,374,054

10,091

1,074,729

At 30 September 2024

2,469,112

177,745

1,074,088

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2024

61,223

375,641

9,543,704

Additions

29,900

10,020

122,852

Disposals

-

-

(60,201

)

Reclassification/transfer

-

-

-

At 30 September 2025

91,123

385,661

9,606,355

DEPRECIATION

At 1 October 2024

34,433

230,079

5,650,407

Charge for year

12,225

42,150

399,378

Eliminated on disposal

-

-

(60,201

)

At 30 September 2025

46,658

272,229

5,989,584

NET BOOK VALUE

At 30 September 2025

44,465

113,432

3,616,771

At 30 September 2024

26,790

145,562

3,893,297

The net book value of fixed assets under hire purchase contracts is £104,399 (2024: £125,146).

9.

STOCKS

2025

2024

£

£

Raw materials

803,649

1,154,962

Work-in-progress

940,136

458,135

Finished goods

66,565

19,027

1,810,350

1,632,124

10.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

819,410

1,368,716

Amounts owed by group undertakings

1,020,466

1,351,154

Other debtors

155,526

84,295

Prepayments and accrued income

264,534

298,086

2,259,936

3,102,251

Amounts falling due after more than one year:

Deferred tax asset

-

277,182

Aggregate amounts

2,259,936

3,379,433