REGISTERED NUMBER: 00834329 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2025

for

Luxus Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

8

Report of the Independent Auditors

10

Consolidated Income Statement

13

Consolidated Other Comprehensive Income

14

Consolidated Balance Sheet

15

Company Balance Sheet

16

Consolidated Statement of Changes in Equity

17

Company Statement of Changes in Equity

18

Consolidated Cash Flow Statement

19

Notes to the Consolidated Cash Flow Statement

20

Notes to the Consolidated Financial Statements

21

DIRECTORS:

P N Atterby

S J Atterby

REGISTERED OFFICE:

Belvoir Way

Fairfield Industrial Estate

Louth

Lincolnshire

LN11 0LQ

REGISTERED NUMBER:

00834329 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Maple House

Level 5A

149 Tottenham Court Road

London

W1T 7NF

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

REVIEW OF BUSINESS

KEY PERFORMANCE INDICATORS

Key performance indicators of the group are summarized below:

31.12.25

31.12.24

KPI

£

£

Turnover

32,619,637

30,609,796

Gross profit

7,116,880

7,046,241

Gross profit margin

21.8%

23.0%

(Loss)/Profit before taxation

(431,954

)

(513,950

)

Net assets

7,245,374

7,730,677

Turnover grew 6.6%, £32.6m (2024: £30.6m) with only a slight erosion in the gross profit margin 21.8% (2024: 23.0%). This is a positive indicator of the business's ability to manage its product mix, pricing and manufacturing efficiency effectively.

The Group recorded a pre-tax loss of £0.43m (2024: £0.51m) primarily due to the performance associated with its subsidiary operation which was divested early in 2026. Net assets remained strong at £7.2m (2024: £7.7m).

The directors consider these results to be consistent with broader sector trends and reflective of disciplined cost control, operational resilience and management focus in a difficult trading environment.

BUSINESS DEVELOPMENT AND STRATEGIC FOCUS

Founded in 1965, the Group has developed more than 60 years of experience in polymer processing, formulation, recycling, technical compounding and product development.

During March 2026, the Group completed the disposal of its masterbatch subsidiary. The disposal represents a strategic decision to concentrate management attention, investment and resources on the Group's core strengths in technical polymer compounding, polymer recycling, material development and associated technical services.

Following the disposal, the Group's strategic focus is centred upon the development and manufacture of technically demanding thermoplastic compounds and the continued development of its capabilities in recycled-material sourcing, material characterisation, formulation, laboratory validation, product and application development.

The Board considers that concentrating resources on these areas provides a clear strategic focus and builds upon capabilities developed since the Group's foundation in 1965. Investment will continue to be directed towards the technical centre, research and development, recycling infrastructure, production capability, people and quality systems, with the objective of strengthening the Group's position as a technical compounder serving customers in the United Kingdom and international markets.

PRINCIPAL RISKS AND UNCERTAINTIES

The Board is responsible for determining the principal risks facing the Group and for overseeing the Group's risk-management and internal-control framework. The Group's risk profile is reviewed regularly, supported by senior management and functional leads.

The Group operates in a technically demanding, regulated and safety-critical sector. Its activities include the receipt, segregation, handling, storage, recycling, processing and technical compounding of polymers, including recycled, virgin and hybrid (prime & recycled) materials.

The Group's principal risks are those which could materially affect its strategy, operational performance, financial position, liquidity, reputation or long-term prospects. The Group seeks to identify material risks, assess their potential impact, maintain appropriate controls and monitor the effectiveness of those controls.

HEALTH, SAFETY AND FIRE

The Group's operations involve production machinery, polymer-processing equipment, workplace transport, material handling and the storage and processing of combustible polymer materials. A serious incident could result in injury, environmental harm, regulatory action, production interruption, financial loss and reputational damage.

Health and safety is managed through documented policies and procedures, supervision, training, monitoring and continual improvement. A safety committee reviews performance, incidents, near misses, corrective actions and improvement opportunities. Senior managers undertake weekly safety walks to identify hazards and verify operational standards, while toolbox talks reinforce safe working practices and communicate relevant risks across the workforce.

Fire risks associated with the storage and processing of combustible polymer materials are managed through trained fire wardens, awareness and emergency-response training, material-segregation and storage procedures, housekeeping standards, and inspection and maintenance of relevant detection and suppression arrangements.

The Group liaises with the local fire and rescue authority where appropriate and maintains emergency procedures intended to support a prompt and coordinated response. Fire-prevention arrangements are also considered in the context of the Group's environmental permits and associated regulatory obligations.

PEOPLE, SKILLS AND SUCCESSION

The Group's ability to operate safely, maintain product quality, develop technically advanced compounds and deliver its strategy depends upon attracting, developing and retaining suitably skilled employees.

The business requires expertise across polymer technology, laboratory and technical functions, engineering, production, maintenance, quality, environmental compliance and management. Competition for experienced personnel and the loss of specialist knowledge therefore represent risks to operational resilience and future development.

A shortage or loss of key skills could affect production capacity, product quality, technical development and customer service. The Group also recognises the importance of retaining specialist knowledge accumulated over more than 60 years of operation and ensuring that key positions are supported by appropriate succession arrangements.

Training and development is supported through the Group's own training academy, including apprenticeship opportunities and a graduate development programme. Within the recycling operations, the CMS competence-management system is used to record, monitor and audit employee training, competence requirements and role-specific authorisations.

The Group's relationship with the University of Lincoln supports its academy, graduate and doctoral development activities, providing links between employee development, academic expertise and longer-term technical and research capability.

Succession planning is undertaken for key management and specialist roles and is supported by management-development activity intended to strengthen leadership capability across the business.

SUSTAINABILITY, RECYCLING AND FEEDSTOCK

The Group operates in a sector closely linked to the transition towards greater resource efficiency and the circular use of materials. Changes in environmental legislation and permit requirements, the availability and quality of recycled feedstocks, material traceability and increasing customer expectations regarding recycled content and sustainability may affect market access, operating costs and future growth.

The Group's operating model combines polymer recycling, material assessment, technical development and compounding. It operates an Environment Agency-permitted Waste Transfer Station and recycling facility and is registered as an upper-tier waste carrier. These capabilities enable polymer waste to be received, segregated, processed and recovered for use in the manufacture of thermoplastic raw materials to defined specifications.

Recycled feedstocks may exhibit greater variability than virgin materials in composition, colour, contamination, moisture, processing history and physical properties. Availability and cost may also be affected by competition for suitable waste streams and changes in recycling infrastructure and regulation. These risks are managed through supplier controls, material segregation, incoming-material assessment, laboratory testing, formulation control and traceability.

This integrated approach provides greater control over the sourcing and provenance of recycled materials and enables suitable feedstocks to be characterised and formulated to achieve defined processing and end-use requirements. Material-control systems maintain appropriate traceability through material receipt, recycling, formulation, compounding and finished product.

The Group holds RecyClass Recycling Process Certification, providing independent third-party verification of relevant aspects of its recycling process, including waste origin and material traceability. The certification is aligned with EN 15343:2007 and the controlled-blending chain-of-custody principles of ISO 22095:2020.

The Group is also seeking to improve its EcoVadis sustainability performance and is progressing work towards the development of science-based carbon-reduction targets aligned with the principles of the Science Based Targets initiative.

The Board continues to monitor environmental compliance, permit obligations, feedstock availability and provenance, certification requirements and changing customer and regulatory expectations.

QUALITY, TECHNICAL CAPABILITY AND INNOVATION

Continued product development is important to the Group's commercial success and its ability to manufacture consistent, reliable thermoplastic compounds incorporating recycled, virgin and hybrid (prime & recycled) materials.

The Group's technical approach is application-led, with formulations developed and modified to achieve specified processing, mechanical, thermal, appearance and end-use characteristics. Incorporating recycled feedstocks into demanding applications requires effective material characterisation, formulation, testing and process control.

The Group maintains ISO 9001 certification and operates a purpose-built technical centre and polymer laboratory supporting research and development, incoming-material assessment, formulation development, product validation, production quality control, troubleshooting and customer-specific development work.

The technical centre has extensive material-characterisation and testing capability. This includes melt-flow analysis; tensile and flexural testing; Izod and Charpy impact testing; heat-deflection and Vicat softening-temperature testing; density and bulk-density measurement; moisture and ash-content analysis; hardness; shrinkage; colour determination; weathering; scratch resistance; and flammability testing. Analytical and development capabilities also include spectrophotometry, X-ray fluorescence, extrusion compounding and injection moulding.

This infrastructure enables incoming and recycled materials to be characterised, experimental development to be undertaken, trial formulations to be produced and evaluated, and finished compounds to be validated against defined customer and application requirements.

Formulation capability extends to the incorporation of a wide range of fillers, additives and performance modifiers. Research and development also include the assessment of experimental fillers and novel material combinations intended to improve performance, increase recycled content, reduce dependence upon virgin raw materials or develop solutions for new applications and new products.

Together, the Group's material-characterisation, laboratory, formulation and production-scale compounding capabilities enable it to collaborate with customers on material selection and product development as well as the manufacture and supply of polymer compounds.

The Group supplies compounds for applications including automotive, civil engineering, construction, plastics moulding and extrusion. It provides compounds where consistency, technical performance, processability, quality control and traceability are important requirements.

MARKET DYNAMICS AND REGULATORY CHANGE

The Group's performance is affected by market demand, customer production levels, polymer and feedstock pricing, availability of suitable recycled material, competition, regulation and changes in product and component design.

Target markets are being influenced by longer-term developments including increased focus on circularity, recycled content, material traceability, resource efficiency and recyclable product design. These trends provide potential opportunities for the Group but may also increase technical, evidential and compliance requirements.

Plastic Packaging Tax continues to provide an economic incentive for the use of recycled plastic in packaging, while Extended Producer Responsibility for packaging is increasing the commercial importance of material selection, recyclability and supporting evidence.

The Group also monitors developing UK and European requirements affecting automotive materials and vehicle circularity. Increasing regulatory and customer focus on the incorporation of recycled materials into vehicles is expected progressively to increase the importance of technically validated and traceable recycled polymers capable of satisfying demanding automotive material specifications.

The Group's established position supplying automotive and civil engineering applications, together with its technical, formulation and recycling capabilities, is relevant to responding to increasing recycled-content requirements while maintaining required material performance.

Wider developments in UK, European and international circular-economy policy, recycled-content requirements, packaging regulation, material traceability and end-of-life product requirements are monitored as part of the Group's regulatory and market-development activities.

ENERGY AND COST EFFICIENCY

Energy, labour, logistics, maintenance, feedstock and polymer prices are important components of the Group's cost base. Volatility in these costs can affect margins, particularly where increases cannot be recovered promptly through customer pricing or where supply-chain disruption affects production planning.

These risks are managed through purchasing controls, operational-efficiency initiatives, production planning, preventative maintenance, supplier management and regular review of customer pricing.

OPERATIONAL RESILIENCE AND CYBER SECURITY

The Group depends upon the continued availability of its production and compounding equipment, processing lines, utilities, laboratory facilities, recycling and environmental infrastructure, IT systems and specialist operational knowledge.

Operational resilience is supported through planned preventative maintenance, equipment inspection, repair and replacement programmes, production planning, contingency arrangements and appropriate insurance protection.

The Group maintains both on-premises and off-premises managed IT services to support information security, continuity of key business systems and recovery from significant interruption. Cyber security is an increasing area of focus due to the dependence upon IT infrastructure for operational planning, finance, communications, customer service, material traceability and reporting.

On-site power-generation capability supports central services and relevant production activity in the event of power interruption. A disaster-recovery policy and associated procedures are maintained to support recovery of key systems and processes following a significant event.

FINANCIAL RISK

The Group is exposed to financial risks including liquidity, working-capital requirements, customer default, interest-rate movements and foreign-exchange exposure.

Financial performance is monitored through regular management reporting, cash-flow forecasting, budgets, working-capital reviews and oversight of banking and insurance arrangements. Management monitors trading performance, debtor days, inventory levels, capital expenditure, customer-credit exposure and forecast liquidity.

Credit risk is mitigated through credit-control procedures, customer monitoring and credit-insurance arrangements. These controls reduce, but cannot eliminate, the risk of customer default.

International purchasing and sales activities expose the Group to movements in foreign-exchange rates. Relevant purchasing and sales exposures may provide a degree of natural currency hedge where transactions arise in the same currencies, although exchange-rate movements remain capable of affecting margins and working capital.

The Group owns its principal operating sites on a freehold basis. This reduces exposure to rental inflation and lease-renewal uncertainty while providing a stable base for production, laboratory, recycling and technical operations. Property-related maintenance, insurance, compliance and capital-investment requirements are kept under review.

GOVERNANCE AND COMPLIANCE

The Group operates within a regulatory framework encompassing environmental protection, waste management, health and safety, employment, product quality, data protection and corporate-governance requirements.

Policies, procedures, management oversight and internal controls support compliance with these obligations. Attention is given to environmental-permit requirements, waste-management controls, health and safety, quality systems, employee competence, data protection, material traceability and the maintenance of appropriate operational records.

The Board receives regular information on key operational, financial, compliance and strategic matters. Senior management is responsible for implementing the Group's policies and control framework, monitoring performance and escalating material matters.

The regulatory environment continues to develop, particularly in relation to recycled content, material provenance and traceability, packaging, producer responsibility, carbon reporting and wider circular-economy requirements. The Group's governance arrangements, management information and assurance processes are reviewed as the business and its regulatory environment develop.

FUTURE OUTLOOK

The Group enters the next phase of its development with a clear focus on technical polymer compounding, recycling and material development following the disposal of its masterbatch subsidiary in March 2026.

Demand for increased recycled content, improved material traceability and more circular use of resources presents opportunities, particularly where customers require recycled materials capable of meeting defined processing and end-use specifications. These opportunities are accompanied by increasingly demanding technical, regulatory and evidential requirements.

Research and development will remain central to the Group's strategy. Investment in its technical centre, formulation expertise and production capability will support the continued evaluation of new fillers, additives and material combinations, with the objective of improving performance, increasing recycled content and developing compounds for new and existing applications.

The Group supplies customers in the United Kingdom and Europe across automotive, civil engineering, construction, plastics moulding and extrusion. The Board intends to build upon these established markets while developing higher-value applications and new products where the Group's experience in polymer formulation, recycled materials and technical validation can provide competitive differentiation.

Trading conditions remain subject to movements in input costs, energy prices, feedstock availability, customer demand and regulatory change. Against this background, the Board considers that the Group's established market position, technical and production capabilities, recycling infrastructure and continued investment in research and development provide a sound basis for its long-term development.

ON BEHALF OF THE BOARD:

P N Atterby - Director

30 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 continued to be that of a specialist in plastic processing, delivering high-quality thermoplastic raw materials with a strong focus on sustainable solutions. Our expertise in recycled and environmentally positive materials positions us to support customers' transition to Net Zero Carbon Emissions. Despite challenging market conditions, the business continues to demonstrate resilience through operational efficiency and strategic investment.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 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.

DIRECTORS

P N Atterby has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

S J Atterby was appointed as a director after 31 December 2025 but prior to the date of this report.

B J Clift ceased to be a director after 31 December 2025 but prior to the date of this report.

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 auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P N Atterby - Director

30 September 2026

Opinion

We have audited the financial statements of Luxus 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 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 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 Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, 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 course of 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 eight, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Through discussion with management and those charged with governance we gained an understanding of the legal and regulatory framework applicable to the entity and the industry in which it operates, and considered the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. During the engagement team briefing we communicated the identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, UK GAAP (FRS102), the Companies Act 2006, tax legislations and industry specific legislation such as the Control of Substances Hazardous to Health Regulations 2002 (COSHH). We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We evaluated management's incentives and opportunities for fraudulent manipulations of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates.

Audit procedures undertaken in response to the potential risk relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of:

- enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations;

- enquiries with the same concerning any actual or potential litigation claims;

- reviewed risk of management override;

- reviewed journal entries posted with unusual account combinations or posted by senior management;

- reviewed accounting estimates for bias;

- performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud;

- agreeing financial statement disclosures to underlying supporting documentation.

The likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities,

the effectiveness of the entity's controls, the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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.

Mark Stothard (FCA) (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Maple House

Level 5A

149 Tottenham Court Road

London

W1T 7NF

30 September 2026

TURNOVER

3

32,619,637

30,609,796

Cost of sales

25,502,757

23,563,555

GROSS PROFIT

7,116,880

7,046,241

Administrative expenses

7,252,878

7,734,915

(135,998

)

(688,674

)

Other operating income

28,768

566,123

OPERATING LOSS

5

(107,230

)

(122,551

)

Interest receivable and similar income

1,010

-

(106,220

)

(122,551

)

Interest payable and similar expenses

6

325,734

391,399

LOSS BEFORE TAXATION

(431,954

)

(513,950

)

Tax on loss

7

(95,957

)

(172,712

)

LOSS FOR THE FINANCIAL YEAR

(335,997

)

(341,238

)

Loss attributable to:

Owners of the parent

(335,997

)

(341,238

)

LOSS FOR THE YEAR

(335,997

)

(341,238

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(335,997

)

(341,238

)

Total comprehensive income attributable to:

Owners of the parent

(335,997

)

(341,238

)

FIXED ASSETS

Intangible assets

10

59,187

75,883

Tangible assets

11

6,540,589

7,098,634

Investments

12

-

-

6,599,776

7,174,517

CURRENT ASSETS

Stocks

13

4,532,933

4,438,781

Debtors

14

6,238,771

5,700,142

Cash at bank and in hand

570,808

942,239

11,342,512

11,081,162

CREDITORS

Amounts falling due within one year

15

9,203,577

8,889,859

NET CURRENT ASSETS

2,138,935

2,191,303

TOTAL ASSETS LESS CURRENT LIABILITIES

8,738,711

9,365,820

CREDITORS

Amounts falling due after more than one year

16

(814,483

)

(1,010,241

)

PROVISIONS FOR LIABILITIES

21

(529,548

)

(624,902

)

NET ASSETS

7,394,680

7,730,677

CAPITAL AND RESERVES

Called up share capital

22

10,876

10,876

Share premium

23

1,785

1,785

Revaluation reserve

23

658,979

658,979

Capital redemption reserve

23

12,519

12,519

Retained earnings

23

6,710,521

7,046,518

SHAREHOLDERS' FUNDS

7,394,680

7,730,677

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2026 and were signed on its behalf by:

P N Atterby - Director

FIXED ASSETS

Intangible assets

10

2,337

14,528

Tangible assets

11

6,107,198

6,601,437

Investments

12

896,021

1,573,481

7,005,556

8,189,446

CURRENT ASSETS

Stocks

13

3,910,085

3,641,346

Debtors

14

5,812,541

5,176,384

Cash at bank and in hand

377,137

404,965

10,099,763

9,222,695

CREDITORS

Amounts falling due within one year

15

8,953,065

8,578,604

NET CURRENT ASSETS

1,146,698

644,091

TOTAL ASSETS LESS CURRENT LIABILITIES

8,152,254

8,833,537

CREDITORS

Amounts falling due after more than one year

16

(814,483

)

(1,010,241

)

PROVISIONS FOR LIABILITIES

21

(434,634

)

(515,719

)

NET ASSETS

6,903,137

7,307,577

CAPITAL AND RESERVES

Called up share capital

22

10,876

10,876

Share premium

23

1,785

1,785

Revaluation reserve

23

658,979

658,979

Capital redemption reserve

23

12,519

12,519

Retained earnings

23

6,218,978

6,623,418

SHAREHOLDERS' FUNDS

6,903,137

7,307,577

Company's loss for the financial year

(404,440

)

(203,926

)

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2026 and were signed on its behalf by:

P N Atterby - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 January 2024

10,876

7,387,756

1,785

Changes in equity

Total comprehensive income

-

(341,238

)

-

Balance at 31 December 2024

10,876

7,046,518

1,785

Changes in equity

Total comprehensive income

-

(335,997

)

-

Balance at 31 December 2025

10,876

6,710,521

1,785

Capital

Revaluation

redemption

Total

reserve

reserve

equity

£

£

£

Balance at 1 January 2024

658,979

12,519

8,071,915

Changes in equity

Total comprehensive income

-

-

(341,238

)

Balance at 31 December 2024

658,979

12,519

7,730,677

Changes in equity

Total comprehensive income

-

-

(335,997

)

Balance at 31 December 2025

658,979

12,519

7,394,680

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 January 2024

10,876

6,827,344

1,785

Changes in equity

Total comprehensive income

-

(203,926

)

-

Balance at 31 December 2024

10,876

6,623,418

1,785

Changes in equity

Total comprehensive income

-

(404,440

)

-

Balance at 31 December 2025

10,876

6,218,978

1,785

Capital

Revaluation

redemption

Total

reserve

reserve

equity

£

£

£

Balance at 1 January 2024

658,979

12,519

7,511,503

Changes in equity

Total comprehensive income

-

-

(203,926

)

Balance at 31 December 2024

658,979

12,519

7,307,577

Changes in equity

Total comprehensive income

-

-

(404,440

)

Balance at 31 December 2025

658,979

12,519

6,903,137

Cash flows from operating activities

Cash generated from operations

1

784,013

1,106,254

Interest paid

(325,430

)

(375,731

)

Interest element of hire purchase payments paid

(304

)

(15,668

)

Tax paid

35,345

15,232

Taxation refund

-

36,514

-

20,738

Net cash from operating activities

493,624

787,339

Cash flows from investing activities

Purchase of intangible fixed assets

(4,608

)

(2,537

)

Purchase of tangible fixed assets

(471,774

)

(781,913

)

Sale of tangible fixed assets

12,063

15,084

Interest received

1,010

-

Net cash from investing activities

(463,309

)

(769,366

)

Cash flows from financing activities

Loan repayments in year

(378,813

)

(366,850

)

Capital repayments in year

(32,529

)

(181,173

)

Amount introduced by directors

9,596

-

Amount withdrawn by directors

-

(5,239

)

Net cash from financing activities

(401,746

)

(553,262

)

Decrease in cash and cash equivalents

(371,431

)

(535,289

)

Cash and cash equivalents at beginning of year

2

942,239

1,477,528

Cash and cash equivalents at end of year

2

570,808

942,239