REGISTERED NUMBER: 01821427 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

UNUSUAL INDUSTRIES LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Directors' Responsibilities Statement

5

Report of the Independent Auditor

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

A Harper

P Jacobi

M C Wylie

REGISTERED OFFICE:

55 Loudoun Road

St. John's Wood

London

NW8 0DL

REGISTERED NUMBER:

01821427 (England and Wales)

AUDITOR:

mgr Audit Limited

Chartered Accountants

Statutory Auditors

55 Loudoun Road

St John's Wood

London

NW8 0DL

BANKERS:

Lloyds Banking Group plc

98 Victoria Street

London SW1E 5JL

Handelsbanken plc

3rd Floor, 86 Jermyn Street

London SW1Y 6JD

The directors present their strategic report of the company and the group for the year ended 31 March 2026.

REVIEW OF BUSINESS

The Group delivered a highly successful year, but saw a 6.0% decrease in turnover (2025: 81.7% increase). This decrease in activity was accompanied by a 12.7% decrease in direct costs (2025: 62.8% increase) and an 18.5% decrease in administrative expenses (2025: 32.5% increase). Despite the decrease in turnover, the Group recorded a net profit after tax of £9,957,049, a significant uplift from £7,764,189 in the prior year. This strong performance reflects the dedication and investment of the entire team at Unusual, across our UK, Dubai and Saudi Arabia offices

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the main risks faced by the group's business are managing the variation associated with large one-off events together with the associated technical challenges of projects involving the provision of rigging services. The directors are aware of these complexities and have developed sophisticated job planning systems to manage the resources needed for each project and have become recognised experts in this field within the rigging services and event industries.

DEVELOPMENT AND PERFORMANCE

In the opinion of the directors, the group was in a strong position at the year end having enjoyed a year of good profitability resulting in net assets and shareholders' funds increasing to £37.7m (2025: £28.1m) at the year end.

KEY PERFORMANCE INDICATORS

The group's management monitor the performance of the business including reviewing individual contracts, management information incorporating the management accounts, resource and staffing requirements. The main key performance indicators are the gross and net profit margins, as well as the current asset ratio. The gross profit margin increased from 41.7% to 45.8%, the net profit margin increased from 26.0% to 32.5% and the net current asset ratio increased from 4.24 to 4.96.

...

ON BEHALF OF THE BOARD:

A Harper - Director

23 September 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The company is a holding company.

The principal activity of the company is the provision of management and administration services to its subsidiary companies.

The principal activities of the group primarily involves providing services to performing arts and other industries, including the fabrication and installation of rigging in theatres, museums, stadiums, arenas, conference centres and outdoor venues, theatre and stage engineering and specialised metal work.

DIVIDENDS

Ordinary dividends were paid amounting to £250,000. The directors do not recommend payment of a final dividend.

FUTURE DEVELOPMENTS

The group continues to demonstrate its commitment to the transition to a circular economy, most recently in the planning and design of their new HQ on site at Bugbrooke, in which their decision making has been influenced by the principles of running on renewables, selecting carbon sequestering materials, reusability and designing for disassembly.

DIRECTORS

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A Harper

P Jacobi

Other changes in directors holding office are as follows:

B H Rose - resigned 31 March 2026

M C Wylie - appointed 24 September 2025

FINANCIAL INSTRUMENTS

Treasury operations and financial instruments

The group operates a treasury function which is responsible for managing the liquidity and interest risks associated with the group activities.

Liquidity risk

The group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the businesses.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

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 auditor is unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditor is aware of that information.

AUDITOR

The auditors, mgr Audit Limited, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

A Harper - Director

23 September 2026

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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- 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.

Opinion

We have audited the financial statements of Unusual Industries 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 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 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 Auditor 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, the Report of the Directors and the Directors' Responsibilities Statement, 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 Directors' Responsibilities Statement set out on page five, 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 Auditor 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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line without responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning of the audit work required, we obtained an understanding of the legal and regulatory frameworks that are applicable to the entity via enquiries of the company's management, carrying out analytical procedures, holding discussions amongst the engagement team and using our knowledge of the sector. We determined that the most significant laws and regulations were relating to:

- Health and safety regulations;

- Employment law; and

- UK Tax legislation.

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as FRS 102 and the Companies Act 2006.

Based on the results of our risk assessment we designed our audit procedures to identify instances of non-compliance with the laws and regulations and the fraud risks identified. This included enquiries of management to understand their policies and procedures for compliance with those regulations and we completed the following tests:

- Obtained an understanding of relevant controls;

- Reviewed the company's risks assessments, procedures, health and safety policies and communications with employees;

- Checked a sample of documentation;

- Reviewed records for evidence of complaints or litigation; and

- Reviewed correspondence with HMRC.

We also assessed the risk of material misstatement in relation to fraud in respect of the following:

- Revenue fraud;

- Management override of controls; and

- Related party fraud.

Based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. This included the risk of management bias and the risk of making inappropriate accounting entries.

No significant issues were identified during our testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities, including fraud, rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusions, forgery, intentional omissions, misrepresentations or the override of internal controls.

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 Auditor.

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 Auditor 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.

Sarah Yardley BSc ACA (Senior Statutory Auditor)

for and on behalf of mgr Audit Limited

Chartered Accountants

Statutory Auditors

55 Loudoun Road

St John's Wood

London

NW8 0DL

24 September 2026

TURNOVER

4

33,749,941

35,899,065

Cost of sales

(18,280,529

)

(20,931,036

)

GROSS PROFIT

15,469,412

14,968,029

Administrative expenses

(4,820,151

)

(5,914,215

)

10,649,261

9,053,814

Other operating income

21

57

OPERATING PROFIT

6

10,649,282

9,053,871

Interest receivable and similar income

8

378,460

374,130

11,027,742

9,428,001

Interest payable and similar expenses

9

(73,260

)

(87,352

)

PROFIT BEFORE TAXATION

10,954,482

9,340,649

Tax on profit

10

(997,433

)

(1,576,460

)

PROFIT FOR THE FINANCIAL YEAR

9,957,049

7,764,189

Profit attributable to:

Owners of the parent

9,957,049

7,764,189

PROFIT FOR THE YEAR

9,957,049

7,764,189

OTHER COMPREHENSIVE INCOME

Currency translation

(174,491

)

(120,268

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(174,491

)

(120,268

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

9,782,558

7,643,921

Total comprehensive income attributable to:

Owners of the parent

9,782,558

7,643,921

FIXED ASSETS

Intangible assets

13

(1,555,752

)

(3,447,490

)

Tangible assets

14

17,136,087

15,786,786

Investments

15

-

-

15,580,335

12,339,296

CURRENT ASSETS

Stocks

16

541,101

541,502

Debtors

17

9,533,891

4,060,949

Cash at bank

19,333,562

18,085,080

29,408,554

22,687,531

CREDITORS

Amounts falling due within one year

18

5,925,980

5,347,779

NET CURRENT ASSETS

23,482,574

17,339,752

TOTAL ASSETS LESS CURRENT LIABILITIES

39,062,909

29,679,048

CREDITORS

Amounts falling due after more than one year

19

(264,899

)

(447,115

)

PROVISIONS FOR LIABILITIES

21

(1,147,399

)

(1,124,319

)

NET ASSETS

37,650,611

28,107,614

CAPITAL AND RESERVES

Called up share capital

22

100,000

100,000

Other reserves

149,800

149,800

Share option reserve

51,254

40,815

Retained earnings

37,349,557

27,816,999

SHAREHOLDERS' FUNDS

37,650,611

28,107,614

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

A Harper - Director

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

8,153,652

7,908,660

Investments

15

1,635,267

1,524,911

9,788,919

9,433,571

CURRENT ASSETS

Debtors

17

1,765,798

702,064

Cash at bank

2,561,730

2,076,077

4,327,528

2,778,141

CREDITORS

Amounts falling due within one year

18

973,890

1,011,991

NET CURRENT ASSETS

3,353,638

1,766,150

TOTAL ASSETS LESS CURRENT LIABILITIES

13,142,557

11,199,721

CREDITORS

Amounts falling due after more than one year

19

24,665

93,213

NET ASSETS

13,117,892

11,106,508

CAPITAL AND RESERVES

Called up share capital

22

100,000

100,000

Share option reserve

51,254

40,815

Retained earnings

12,966,638

10,965,693

SHAREHOLDERS' FUNDS

13,117,892

11,106,508

Company's profit for the financial year

2,250,945

2,266,449

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

A Harper - Director

Called up

Share

share

Retained

Other

option

Total

capital

earnings

reserves

reserve

equity

£

£

£

£

£

Balance at 1 April 2024

100,000

20,423,078

149,800

-

20,672,878

Changes in equity

Profit for the year

-

7,764,189

-

-

7,764,189

Other comprehensive income

-

(120,268

)

-

40,815

(79,453

)

Total comprehensive income

-

7,643,921

-

40,815

7,684,736

Dividends

-

(250,000

)

-

-

(250,000

)

Balance at 31 March 2025

100,000

27,816,999

149,800

40,815

28,107,614

Changes in equity

Profit for the year

-

9,957,049

-

-

9,957,049

Other comprehensive income

-

(174,491

)

-

10,439

(164,052

)

Total comprehensive income

-

9,782,558

-

10,439

9,792,997

Dividends

-

(250,000

)

-

-

(250,000

)

Balance at 31 March 2026

100,000

37,349,557

149,800

51,254

37,650,611

Called up

Share

share

Retained

option

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2024

100,000

8,949,244

-

9,049,244

Changes in equity

Dividends

-

(250,000

)

-

(250,000

)

Total comprehensive income

-

2,266,449

40,815

2,307,264

Balance at 31 March 2025

100,000

10,965,693

40,815

11,106,508

Changes in equity

Dividends

-

(250,000

)

-

(250,000

)

Total comprehensive income

-

2,250,945

10,439

2,261,384

Balance at 31 March 2026

100,000

12,966,638

51,254

13,117,892

Cash flows from operating activities

Cash generated from operations

26

5,748,985

7,627,211

Interest paid

-

(12,497

)

Interest element of hire purchase payments paid

(73,260

)

(74,855

)

Tax paid

(1,092,785

)

(208,925

)

Net cash from operating activities

4,582,940

7,330,934

Cash flows from investing activities

Purchase of tangible fixed assets

(3,606,863

)

(3,874,528

)

Sale of tangible fixed assets

905,609

242,044

Interest received

378,460

374,130

Net cash from investing activities

(2,322,794

)

(3,258,354

)

Cash flows from financing activities

Capital repayments in year

(653,334

)

(458,884

)

Amount introduced by directors

237,500

-

Amount withdrawn by directors

(227,750

)

-

Payment of amounts owed to subsidiaries

-

(64,516

)

Equity dividends paid

(250,000

)

(250,000

)

Net cash from financing activities

(893,584

)

(773,400

)

Increase in cash and cash equivalents

1,366,562

3,299,180

Cash and cash equivalents at beginning of year

27

18,085,080

14,906,168

Effect of foreign exchange rate changes

(118,080

)

(120,268

)

Cash and cash equivalents at end of year

27

19,333,562

18,085,080

1.	STATUTORY INFORMATION

Unusual Industries 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

Going concern

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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Basis of consolidation

The consolidated financial statements incorporate those of Unusual Industries Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 31 March 2026. 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.

Turnover

Turnover represents the invoiced value of all services supplied by the group based on the date the work is undertaken net of value added tax.

Turnover on equipment sales is recognised on delivery date.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear, compared with the total expected costs for that contract.

Goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Negative goodwill

Negative goodwill represents the fair value of net assets acquired which exceed of the cost of acquisition of a business. It is initially recognised as a negative asset at cost and is subsequently measured at cost less accumulated amortisation. Negative goodwill is released to the profit and loss up to the fair value of non-monetary assets acquired in profit or loss in the periods in which the non-monetary assets are recovered. Where the negative goodwill is greater than the value of the non-monetary assets, the negative goodwill is allocated on a pro-rated basis to the non-monetary assets acquired.

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

-

None

Short leasehold

-

33% straight line

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

33% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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.