REGISTERED NUMBER: 00479009 (England and Wales)

XEINZ GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

to

7

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Statement of Financial Position

10

Company Statement of Financial Position

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Statement of Cash Flows

14

Notes to the Consolidated Statement of Cash Flows

15

to

16

Notes to the Consolidated Financial Statements

17

to

30

DIRECTOR:

C L Farrow

SECRETARY:

Mrs E J Corrigan

REGISTERED OFFICE:

Welland Business Park

Clay Lake

Spalding

Lincolnshire

PE12 6BL

REGISTERED NUMBER:

00479009 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

The director presents his strategic report of the company and the group for the year ended 31 March 2026.

REVIEW OF BUSINESS

The balance sheet remains robust, and the group continued to invest in facilities, employees, equipment and IT projects during the period to support productivity and margins.

Strong cash reserves have continued to provide the group with flexibility to respond to movements in material prices and to manage purchasing across the group businesses.

During 2026/27, the group will continue to focus on protecting net margins in a challenging environment, with emphasis on employee productivity, material cost management and control of overheads.

PRINCIPAL RISKS AND UNCERTAINTIES

The group remains exposed to financial market movements, particularly foreign exchange volatility and the risk that a strengthening pound could affect export competitiveness. Volatility in material and energy costs, supply-chain disruption and the availability of skilled employees also remain key operational risks.

The group manages these risks through active monitoring of currency and input costs, disciplined purchasing and overhead control, and continued investment in its management and operational capabilities. The group remains well capitalised, with low net borrowing, and the medium-term outlook remains positive.

ON BEHALF OF THE BOARD:

C L Farrow - Director

7 October 2026

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2026.

DIVIDENDS

Dividends were paid totalling £54.91 and £144.51 on B ordinary shares and £35.39 and £231.30 on C ordinary shares.

DIRECTOR

C L Farrow held office during the whole of the period from 1 April 2025 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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.

ON BEHALF OF THE BOARD:

C L Farrow - Director

7 October 2026

Opinion

We have audited the financial statements of Xeinz Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 March 2026 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as depreciation of tangible fixed assets, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements.

We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations, employment laws and quality management system.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection. This inspection included confirmation of valid ISO:9001 accreditation, a review of the company's employment and health and safety controls, to ensure no areas of non-compliance. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the 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.

Alistair Main FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

7 October 2026

TURNOVER

3

12,122,159

15,723,914

Cost of sales

10,279,227

13,704,484

GROSS PROFIT

1,842,932

2,019,430

Distribution costs

13,734

38,441

Administrative expenses

1,440,124

1,546,049

1,453,858

1,584,490

389,074

434,940

Other operating income

-

30,221

OPERATING PROFIT

5

389,074

465,161

Loan balance written off

6

98,400

78,560

290,674

386,601

Interest receivable and similar income

108,391

136,572

399,065

523,173

Interest payable and similar expenses

7

41,573

67,586

PROFIT BEFORE TAXATION

357,492

455,587

Tax on profit

8

108,483

110,484

PROFIT FOR THE FINANCIAL YEAR

249,009

345,103

Profit attributable to:

Owners of the parent

249,009

345,103

PROFIT FOR THE YEAR

249,009

345,103

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

249,009

345,103

Total comprehensive income attributable to:

Owners of the parent

249,009

345,103

FIXED ASSETS

Intangible assets

11

106,546

109,657

Tangible assets

12

3,844,041

3,343,677

Investments

13

-

-

3,950,587

3,453,334

CURRENT ASSETS

Stocks

14

3,435,515

4,316,619

Debtors

15

2,027,032

1,904,687

Cash at bank and in hand

287,869

2,023,316

5,750,416

8,244,622

CREDITORS

Amounts falling due within one year

16

1,554,695

3,459,917

NET CURRENT ASSETS

4,195,721

4,784,705

TOTAL ASSETS LESS CURRENT LIABILITIES

8,146,308

8,238,039

CREDITORS

Amounts falling due after more than one year

17

(253,573

)

(448,063

)

PROVISIONS FOR LIABILITIES

22

(211,103

)

(251,477

)

NET ASSETS

7,681,632

7,538,499

CAPITAL AND RESERVES

Called up share capital

23

1,152

1,152

Revaluation reserve

24

1,563,972

1,563,972

Capital redemption reserve

24

3,450

3,450

Retained earnings

24

6,113,058

5,969,925

SHAREHOLDERS' FUNDS

7,681,632

7,538,499

The financial statements were approved by the director and authorised for issue on 7 October 2026 and were signed by:

C L Farrow - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

3,253,541

2,626,503

Investments

13

1,373,268

1,373,268

4,626,809

3,999,771

CURRENT ASSETS

Debtors

15

814,535

819,567

Cash at bank

214,030

758,947

1,028,565

1,578,514

CREDITORS

Amounts falling due within one year

16

370,662

390,135

NET CURRENT ASSETS

657,903

1,188,379

TOTAL ASSETS LESS CURRENT LIABILITIES

5,284,712

5,188,150

CREDITORS

Amounts falling due after more than one year

17

(138,733

)

(256,663

)

PROVISIONS FOR LIABILITIES

22

(83,291

)

(99,216

)

NET ASSETS

5,062,688

4,832,271

CAPITAL AND RESERVES

Called up share capital

23

1,152

1,152

Revaluation reserve

24

1,421,465

1,421,465

Capital redemption reserve

24

3,450

3,450

Retained earnings

24

3,636,621

3,406,204

SHAREHOLDERS' FUNDS

5,062,688

4,832,271

Company's profit for the financial year

336,293

302,801

The financial statements were approved by the director and authorised for issue on 7 October 2026 and were signed by:

C L Farrow - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2024

1,152

5,730,700

1,563,972

3,450

7,299,274

Changes in equity

Dividends

-

(105,878

)

-

-

(105,878

)

Total comprehensive income

-

345,103

-

-

345,103

Balance at 31 March 2025

1,152

5,969,925

1,563,972

3,450

7,538,499

Changes in equity

Dividends

-

(105,876

)

-

-

(105,876

)

Total comprehensive income

-

249,009

-

-

249,009

Balance at 31 March 2026

1,152

6,113,058

1,563,972

3,450

7,681,632

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2024

1,152

3,209,281

1,421,465

3,450

4,635,348

Changes in equity

Dividends

-

(105,878

)

-

-

(105,878

)

Total comprehensive income

-

302,801

-

-

302,801

Balance at 31 March 2025

1,152

3,406,204

1,421,465

3,450

4,832,271

Changes in equity

Dividends

-

(105,876

)

-

-

(105,876

)

Total comprehensive income

-

336,293

-

-

336,293

Balance at 31 March 2026

1,152

3,636,621

1,421,465

3,450

5,062,688

Cash flows from operating activities

Cash generated from operations

1

83,812

109,282

Interest paid

(33,485

)

(56,839

)

Interest element of hire purchase payments paid

(8,088

)

(10,747

)

Tax paid

(143,315

)

(334,442

)

Net cash from operating activities

(101,076

)

(292,746

)

Cash flows from investing activities

Purchase of tangible fixed assets

(786,977

)

(52,358

)

Interest received

9,991

58,012

Net cash from investing activities

(776,986

)

5,654

Cash flows from financing activities

New loans in year

-

552,918

Loan repayments in year

(670,848

)

(107,645

)

Capital repayments in year

(76,560

)

(76,560

)

Equity dividends paid

(105,876

)

(105,878

)

Net cash from financing activities

(853,284

)

262,835

Decrease in cash and cash equivalents

(1,731,346

)

(24,257

)

Cash and cash equivalents at beginning of year

2

2,018,237

2,042,494

Cash and cash equivalents at end of year

2

286,891

2,018,237

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

2026

2025

£

£

Profit before taxation

357,492

455,587

Depreciation charges

289,725

297,147

Loan balance written off

98,400

78,560

Finance costs

41,573

67,586

Finance income

(108,391

)

(136,572

)

678,799

762,308

Decrease/(increase) in stocks

881,104

(1,345,291

)

Increase in trade and other debtors

(122,345

)

(144,009

)

(Decrease)/increase in trade and other creditors

(1,353,746

)

836,274

Cash generated from operations

83,812

109,282

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2026

31.3.26

1.4.25

£

£

Cash and cash equivalents

287,869

2,023,316

Bank overdrafts

(978

)

(5,079

)

286,891

2,018,237

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

2,023,316

2,042,494

Bank overdrafts

(5,079

)

-

2,018,237

2,042,494

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

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank and in hand

2,023,316

(1,735,447

)

287,869

Bank overdrafts

(5,079

)

4,101

(978

)

2,018,237

(1,731,346

)

286,891

Debt

Finance leases

(267,960

)

76,560

(191,400

)

Debts falling due within 1 year

(660,118

)

552,918

(107,200

)

Debts falling due after 1 year

(256,663

)

117,930

(138,733

)

(1,184,741

)

747,408

(437,333

)

Total

833,496

(983,938

)

(150,442

)

1.	STATUTORY INFORMATION

Xeinz Group 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 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 as modified by the revaluation of certain assets.

The directors have assessed 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 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.

Critical accounting judgements and estimation uncertainty

In the application of the Group's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are currently no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised based on the terms of the sale, either on despatch from the group or on delivery and acceptance by the customer.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

2% on cost

Plant and machinery

-

20% on cost, 20% on reducing balance and 12.5% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Tangible fixed assets are recognised under the revaluation model where assets are recognised at the revaluation value less subsequent accumulated depreciation.

Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.

Fair values are determined from market based evidence. The last revaluation was undertaken at 31 March 2018 for non property assets and 10 January 2023 for property assets.

Revaluation gains and losses are recognised in the Statement of Comprehensive Income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the profit or loss.

Freehold property assets are subsequently being depreciated at 2% on the revalued amount. Non property revalued assets are subsequently being depreciated at rates varying from 12.5% to 20% on the revalued amount in order to write down assets to residual values over their remaining useful economic life.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, and after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.