Company No: 10890866 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	D R Keeble
	J Lynch (Appointed 16 May 2025)
	G Meadows (Appointed 24 November 2025)
	P Sagar

REGISTERED OFFICE	Unit 100 Steamboat Way
	Castleford
	WF10 5HX
	United Kingdom

COMPANY NUMBER

10890866 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor Cumberland House
	15-17 Cumberland Place
	Southampton
	Hampshire
	SO15 2BG

	Note	31.12.2025		31.07.2024
		£		£
Fixed assets
Tangible assets	3	195,987		289,437
		195,987		289,437
Current assets
Stocks		151,931		0
Debtors	4	71,588		252,476
Cash at bank and in hand		342,170		173,495
		565,689		425,971
Creditors: amounts falling due within one year	5	( 1,037,477)		( 255,319)
Net current (liabilities)/assets		(471,788)		170,652
Total assets less current liabilities		(275,801)		460,089
Creditors: amounts falling due after more than one year	6	( 5,129)		( 46,678)
Provision for liabilities	7	162,938		( 54,993)
Net (liabilities)/assets		( 117,992)		358,418
Capital and reserves
Called-up share capital	8	200		264
Profit and loss account		( 118,192 )		358,154
Total shareholder's (deficit)/funds		( 117,992)		358,418

For the financial period ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Oxdevice Ltd (registered number: 10890866) were approved and authorised for issue by the Board of Directors on 24 September 2026. They were signed on its behalf by:

J Lynch Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Oxdevice Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 100 Steamboat Way, Castleford, WF10 5HX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Oxdevice Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Reporting period length

The reporting period length is 1 August 2024 to 31 December 2025. The reporting period length has been extended to align group company financial reporting periods. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	3 - 5 years straight line
Assets under construction	not depreciated
Plant and machinery	5 - 10 years straight line
Office equipment	3 - 5 years straight line
Computer equipment	3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

	Period from 01.08.2024 to 31.12.2025		Year ended 31.07.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	17		26

3. Tangible assets

	Leasehold improve- ments		Assets under construc- tion		Plant and machinery		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 August 2024	221,108		0		276,940		24,224		28,070		550,342
Additions	0		56,502		54,926		0		0		111,428
Disposals	( 28,062)		0		( 70,912)		( 14,583)		( 416)		( 113,973)
At 31 December 2025	193,046		56,502		260,954		9,641		27,654		547,797
Accumulated depreciation
At 01 August 2024	95,698		0		137,116		11,720		16,371		260,905
Charge for the financial period	92,346		0		67,513		5,960		10,598		176,417
Disposals	( 28,062)		0		( 46,232)		( 10,802)		( 416)		( 85,512)
At 31 December 2025	159,982		0		158,397		6,878		26,553		351,810
Net book value
At 31 December 2025	33,064		56,502		102,557		2,763		1,101		195,987
At 31 July 2024	125,410		0		139,824		12,504		11,699		289,437

4. Debtors

	31.12.2025		31.07.2024
	£		£
Trade debtors	35,835		185,584
Prepayments and accrued income	22,424		66,892
VAT recoverable	13,329		0
	71,588		252,476

5. Creditors: amounts falling due within one year

	31.12.2025		31.07.2024
	£		£
Bank loans	13,481		40,000
Trade creditors	88,635		131,791
Amounts owed to Group undertakings	268,000		0
Amounts owed to directors	1,641		1,641
Accruals and deferred income	626,013		16,086
Other taxation and social security	24,838		55,730
Obligations under finance leases and hire purchase contracts	9,761		6,209
Other creditors	5,108		3,862
	1,037,477		255,319

The bank loan is secured by a fixed and floating charge and a directors' guarantee.

Creditors include net obligations under hire purchase contracts which are secured upon the asset to which the contract relates.

6. Creditors: amounts falling due after more than one year

	31.12.2025		31.07.2024
	£		£
Bank loans	0		37,365
Obligations under finance leases and hire purchase contracts	5,129		9,313
	5,129		46,678

Creditors include net obligations under hire purchase contracts which are secured upon the asset to which the contract relates.

7. Deferred tax

	31.12.2025		31.07.2024
	£		£
At the beginning of financial period/year	( 54,993)		( 65,383)
Credited to the Profit and Loss Account	217,931		10,390
At the end of financial period/year	162,938		( 54,993)

8. Called-up share capital

	31.12.2025		31.07.2024
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each (31.07.2024: 264 shares of £ 1.00 each)	200		264

On 16 May 2025, the Company cancelled 64 ordinary shares of £1.00 each. Following this cancellation, the Company had 200 ordinary shares of £1.00 each in issue, all of which were allotted, called up and fully paid.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	31.12.2025		31.07.2024
	£		£
Within one year	378,645		320,636
Between one and five years	1,449,672		158,335
	1,828,317		478,971

10. Ultimate controlling party

At the year end the immediate parent undertaking was Kaleidex Limited, a company registered in England and Wales.

The ultimate controlling party is Ansor Fund II GP LLP, a Limited Liability Partnership registered in England and Wales.