REGISTERED NUMBER: 16015364 (England and Wales)

FOX HOLDINGS (MOVING & STORAGE) LIMITED

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

D J Fox

M G Fox

REGISTERED OFFICE:

Unit 10

Somerset Industrial Estate

Somerset Road

Cwmbran

Torfaen

NP441QX

REGISTERED NUMBER:

16015364 (England and Wales)

AUDITORS:

MHA Audit Services LLP

Statutory Auditor

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

The directors present their strategic report of the company and the group for the year ended 31 December 2025.

REVIEW OF BUSINESS

Our activities in the core UK moving markets are closely allied to the transactional levels in the housing markets. That is in terms of profit and loss, a modest performance overall as markets fluctuated. Our peak summer quarter provided a good return and followed by the final quarter which was equally strong with the exception of December which dipped due to limited working days and work available over the holiday periods.

The group continues to strategically develop new revenue streams alongside its established activities, which continue to provide a stable foundation for the business. This approach aims to reduce reliance on traditional revenues linked to a strong housing market and strengthen the group's resilience when lower housing transaction volumes create challenging trading conditions. Diversity in our business mix has always been a key strength, particularly during difficult market conditions, and remains central to our strategy for sustainable growth and long-term stability.

We do also operate in a number of specialist areas. These being International removals (both export and import), Military family removals and Corporate removals, when staff are relocated. We also undertake Office and Commercial moving for businesses and institutions. Storage is undertaken directly for those customers in between homes. During the year we have continued to invest in zero emission or electric vehicles and Euro 6 (low emission) commercial vehicles. Training has again been another significant area of investment, as we strive to recruit and retain an effective and expert workforce. We continue to maintain a suite of quality standards that set our and maintain our business objectives and best practice.

Financial Risk Management

The group's operations are such that the directors do not consider that it is exposed to any serious financial risks. The group adopts a prudent approach to investments and financial management.

Price Risk

The group has limited exposure to equity securities price risk as it holds no listed equity investments.

Credit risk

Given the nature of the business, the group has limited exposure to credit risks from our private customers. Commercial business is assessed and credit tightly controlled. Monthly aged debtor reviews are carried out for each department on a monthly basis.

Liquidity Risk

The group actively maintains short term finance that is designed to ensure the group has sufficient available funding to fund its operations and planned objectives.

Cash Flow Risk

The group actively manages working capital and currently holds cash at bank so it is not exposed to significant cash flow risks.

Interest Rate Risk

The group manages this risk through holding a mixed portfolio of debt with varying repayment terms.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors are pleased to report the following key performance indicators of the group, demonstrating a strengthening balance sheet and improvement in margins, against a backdrop of a challenging economic environment with political changes and increasing interest rates in the period.

KPI's

2025

2024

Turnover

£7,708,782

£1,328,733

Gross margin

43%

47%

Profit before taxation

£135,639

£84,809

Net assets

£2,314,089

£2,283,721

ON BEHALF OF THE BOARD:

D J Fox - Director

25 September 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of Operation of warehousing and storage facilities for land transport activities.

The principal trading activity of the company is that of a holding company.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £40 per share.

The total distribution of dividends for the year ended 31 December 2025 will be £ 40,000 .

DIRECTORS

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

D J Fox

M G Fox

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 directors are 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 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 group's auditors are aware of that information.

AUDITORS

The auditor, MHA Audit Services LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Fox - Director

25 September 2026

Opinion

We have audited the financial statements of Fox Holdings (Moving & Storage) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 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 December 2025 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 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 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 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 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 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 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 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 directors either intend to liquidate the group or the parent 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.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inaccurate journals. We addressed these risks by carrying out specifically targeted procedures, which included:

-

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

-

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

-

Reviewing minutes of meetings of those charged with governance;

-

Evaluating the reasons for any large or unusual transactions;

-

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

Because of the inherent limitations of an audit there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentations.

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.

Laura Farrow MSc BSc FCA (Senior Statutory Auditor)

for and on behalf of MHA Audit Services LLP

Statutory Auditor

CARDIFF

CF23 8RS

25 September 2026

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

partnership in England and Wales (OC455542).

TURNOVER

3

7,708,782

1,328,733

Cost of sales

(4,395,364

)

(704,438

)

GROSS PROFIT

3,313,418

624,295

Administrative expenses

(3,190,460

)

(536,225

)

122,958

88,070

Other operating income

30,000

-

OPERATING PROFIT

5

152,958

88,070

Interest payable and similar expenses

7

(17,319

)

(3,261

)

PROFIT BEFORE TAXATION

135,639

84,809

Tax on profit

8

(65,271

)

(19,089

)

PROFIT FOR THE FINANCIAL YEAR

70,368

65,720

Profit attributable to:

Owners of the parent

70,368

65,720

PROFIT FOR THE YEAR

70,368

65,720

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

70,368

65,720

Total comprehensive income attributable to:

Owners of the parent

70,368

65,720

FIXED ASSETS

Intangible assets

11

591,844

672,303

Tangible assets

12

1,391,099

1,425,239

Investments

13

1,075

1,075

1,984,018

2,098,617

CURRENT ASSETS

Stocks

14

84,192

73,617

Debtors

15

2,652,487

2,510,016

Cash at bank and in hand

440,279

902,402

3,176,958

3,486,035

CREDITORS

Amounts falling due within one year

16

(1,800,718

)

(1,776,548

)

NET CURRENT ASSETS

1,376,240

1,709,487

TOTAL ASSETS LESS CURRENT LIABILITIES

3,360,258

3,808,104

CREDITORS

Amounts falling due after more than one year

17

(713,386

)

(1,183,054

)

PROVISIONS FOR LIABILITIES

20

(332,783

)

(341,329

)

NET ASSETS

2,314,089

2,283,721

CAPITAL AND RESERVES

Called up share capital

21

1,000

1,000

Share premium

22

2,242,001

2,242,001

Retained earnings

22

71,088

40,720

SHAREHOLDERS' FUNDS

2,314,089

2,283,721

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:

D J Fox - Director

M G Fox - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

4,555,670

4,555,670

4,555,670

4,555,670

CURRENT ASSETS

Debtors

15

1

1

CREDITORS

Amounts falling due within one year

16

(586,003

)

(586,003

)

NET CURRENT LIABILITIES

(586,002

)

(586,002

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,969,668

3,969,668

CREDITORS

Amounts falling due after more than one year

17

(563,334

)

(1,126,667

)

NET ASSETS

3,406,334

2,843,001

CAPITAL AND RESERVES

Called up share capital

21

1,000

1,000

Share premium

22

2,242,001

2,242,001

Retained earnings

22

1,163,333

600,000

SHAREHOLDERS' FUNDS

3,406,334

2,843,001

Company's profit for the financial year

603,333

625,000

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:

D J Fox - Director

M G Fox - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Changes in equity

Issue of share capital

1,000

-

2,242,001

2,243,001

Dividends

-

(25,000

)

-

(25,000

)

Total comprehensive income

-

65,720

-

65,720

Balance at 31 December 2024

1,000

40,720

2,242,001

2,283,721

Changes in equity

Dividends

-

(40,000

)

-

(40,000

)

Total comprehensive income

-

70,368

-

70,368

Balance at 31 December 2025

1,000

71,088

2,242,001

2,314,089

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Changes in equity

Issue of share capital

1,000

-

2,242,001

2,243,001

Dividends

-

(25,000

)

-

(25,000

)

Total comprehensive income

-

625,000

-

625,000

Balance at 31 December 2024

1,000

600,000

2,242,001

2,843,001

Changes in equity

Dividends

-

(40,000

)

-

(40,000

)

Total comprehensive income

-

603,333

-

603,333

Balance at 31 December 2025

1,000

1,163,333

2,242,001

3,406,334

Cash flows from operating activities

Cash generated from operations

1

(11,415

)

171,657

Interest element of hire purchase payments paid

(17,319

)

(3,261

)

Tax paid

(167,983

)

131,690

Net cash from operating activities

(196,717

)

300,086

Cash flows from investing activities

Purchase of intangible fixed assets

-

(675,716

)

Purchase of tangible fixed assets

(44,060

)

(1,485,226

)

Sale of tangible fixed assets

64,510

-

Acquisition of Fox Group

-

2,561,267

Net cash from investing activities

20,450

400,325

Cash flows from financing activities

Capital repayments in year

(245,856

)

225,991

Share issue

-

1,000

Equity dividends paid

(40,000

)

(25,000

)

Net cash from financing activities

(285,856

)

201,991

(Decrease)/increase in cash and cash equivalents

(462,123

)

902,402

Cash and cash equivalents at beginning of year

2

902,402

-

Cash and cash equivalents at end of year

2

440,279

902,402

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

Period

14/10/24

Year Ended

to

31/12/25

31/12/24

£

£

Profit before taxation

135,639

84,809

Depreciation charges

461,903

63,400

Profit on disposal of fixed assets

(34,306

)

-

Finance costs

17,319

3,261

580,555

151,470

Increase in stocks

(10,575

)

(73,617

)

Increase in trade and other debtors

(142,471

)

(431,696

)

(Decrease)/increase in trade and other creditors

(438,924

)

525,500

Cash generated from operations

(11,415

)

171,657

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 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

440,279

902,402

Period ended 31 December 2024

31/12/24

14/10/24

£

£

Cash and cash equivalents

902,402

-

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

Other

non-cash

At 1/1/25

Cash flow

changes

At 31/12/25

£

£

£

£

Net cash

Cash at bank

and in hand

902,402

(462,123

)

440,279

902,402

(462,123

)

440,279

Debt

Finance leases

(225,991

)

245,856

-

(313,581

)

(225,991

)

245,856

-

(313,581

)

Total

676,411

(216,267

)

-

126,698

1.	STATUTORY INFORMATION

Fox Holdings (Moving & Storage) 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

There have been no material departures from FRS 102.

The financial statements have been prepared under the historical cost convention. The financial statements are presented in Sterling (£), the Company's functional currency and rounded to the nearest pound.

Going Concern

Fox Holdings (Moving & Storage) Limited is a holding company and within the prior accounting period acquired 100% of the shares of Fox Group (Moving & Storage) Limited. At 31 December 2025, Fox Holdings (Moving & Storage) Limited has net current liabilities of £586,002 and net assets of £3,406,334.

The financial statements have been prepared on a going concern basis. At the time of approving the financial statements the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The directors have reviewed current performance and forecasts for the next 12 months and based on this and also the support of its trading subsidiary, Fox Group (Moving & Storage) Limited the directors are confident that the going concern basis of preparation of the financial statements is appropriate.

Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Fox Holdings (Moving & Storage) Limited together with all entities controlled by the parent company (its subsidiaries) and the group's share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group's financial statements from the date control commences until the date that control ceases.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the group'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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment

10% to 20% straight line

Motor vehicles

10% to 33% straight line & 20% reducing balance

The gain or loss arising on disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment us 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