REGISTERED NUMBER: 13549911 (England and Wales)

WOZAIR GROUP HOLDINGS LIMITED

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2025 TO 29 DECEMBER 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

6

Report of the Independent Auditors

9

Consolidated Income Statement

13

Consolidated Other Comprehensive Income

14

Consolidated Statement of Financial Position

15

Company Statement of Financial Position

16

Consolidated Statement of Changes in Equity

17

Company Statement of Changes in Equity

18

Consolidated Statement of Cash Flows

19

Notes to the Consolidated Statement of Cash Flows

20

Notes to the Consolidated Financial Statements

22

DIRECTORS:

P M Azzopardi

S J Collins

H A Collins

S D Azzopardi

REGISTERED OFFICE:

32 Grosvenor Road

Gillingham Business Park

Gillingham

Kent

ME8 0SA

REGISTERED NUMBER:

13549911 (England and Wales)

AUDITORS:

McCabe Ford Williams

Statutory Auditors and Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

The directors present their strategic report for the period ended 29 December 2025.

REVIEW OF BUSINESS

Wozair Group Holdings Limited marked a significant milestone in 2025 celebrating its 30th Anniversary with a successful year.Turnover was £31,501,855 (2024 £29,663,806) with an operating profit of £2,256,990 (2024: £851,748) driven by a consistent strength in market demand, maintaining stability and leading to a positive outlook for 2026. Gross margin was 37.0% (2024 32.3%).

This represented a continuation of the turnaround seen in 2024 with sustainable increases in revenue whilst maintaining an operating profit for the Group. This was achieved with a backdrop of buoyant market conditions, which the Group was able to capitalise on securing significant contracts, providing a healthy order book for the Group. There continues to be significant export opportunities in the Middle East and Far East representing particular areas of growth for the business. During 2025 the Group was able to complete or progress a number of large contracts awarded during 2024. The Group continued its association with Thermoplant Offshore Services Limited (TOSL) and North Sea Ventilation & Air Conditioning Limited (NSV & AC) for a number of these Middle East Contracts working together to progress the projects.

The Group also won significant work in the European Offshore Renewables sector, work which will be mostly realised during 2026, giving a healthy order book at the end of 2025, meaning the forecast is very good for a successful 2026.

The Group continued to supply specialist ventilation equipment in its core market of Oil and Gas, with this sector currently highly active. As well as its core business the Group has continued its long-term strategy of growing other market sectors such as Nuclear, Marine and Offshore Wind, whilst investigating longer term market sectors such as Power Generation and Infrastructure Projects, Nuclear Small Modular Reactors (SMR's), Carbon Capture and Storage (CCS), and Hydrogen.

In the Nuclear market the Group completed its first export Air Handling Unit Project for a project in France, as it continues to seek to expand its nuclear business outside of the UK. A number of design contracts were also progressed for Sellafield, which are expected to move to full equipment orders during 2026. We expect to continue to benefit from the 20-year framework agreement with Sellafield with more projects planned in the coming years. We are also focused on future opportunities that exist in the nuclear market with SMRs and in Europe. Moving forward the Directors remain optimistic for opportunities in the Energy Industry worldwide including Oil & Gas, Wind, Nuclear and Power Transmission and to that end have recruited a Global Business Development Manager to maximise these future opportunities.

During 2025 the Group also completed its ISO19443 accreditation - a nuclear-specific quality management standard, to further demonstrate our commitment to this market. This will help secure our place in the nuclear supply chain and create further opportunities. This builds upon ISO 9001 and sits alongside Fit for Nuclear (F4N) and the Fit for Offshore Renewables (F4OR), placing us at the forefront of these sectors. Wozair Group Holdings Limited was also successfully audited for the Utilities Vendor Database (UVDB) opening opportunities in the Power Generation and Infrastructure sector.

The Group was pleased to hold a number of customer and staff events across the globe to mark its 30 Year Anniversary. It also exhibited and attended major trade shows and exhibitions for the Oil and Gas, Marine, Nuclear and Wind Energy markets across the globe as it continues its strategy of investing in new and emerging markets whilst continuing to increase Oil and Gas Projects.

REVIEW OF BUSINESS - CONTINUED

The Group recruited some key leadership positions to ensure it has the resource to meet the challenge created by the increasing order book. Key positions recruited included a Contracts Manager, Global Business Development Manager and additional Project Managers. The R&D team was also strengthened during the year to help develop new and innovative products and services in association with our strategic alliances. The Group continued to invest in plant, equipment, software, and systems to drive efficiency improvements.

Wozair Group Holdings Limited will continue to focus on maximising the benefit of a buoyant Oil and Gas market and Offshore Renewables sector, whilst pushing for market diversification. Major new orders in early 2026 have enabled Wozair Group Holdings Limited to continue its profitability for the beginning of the year and anticipate continued growth in revenue and profit for the full year.

PRINCIPAL RISKS AND UNCERTAINTIES

The risks faced by the Group are reviewed on a regular basis. The review is consistent with the size and nature of the Group and is considered in the general context of the global economy and the markets and locations in which it operates. The Directors are aware of the inherent risk associated with a manufacturing business within the markets we operate and keep these under constant review.

The risks to staff, the public, and customers are mitigated by maintaining high quality standards in manufacture, adopting best practice in health, safety and quality and the Company's fulfilment of all relevant environmental regulations. We strive to be industry leaders in Health, Safety and Environmental responsibility and benchmark our performance against other industry leaders.

The Group maintains close links with its suppliers both in the UK and overseas, thereby ensuring continuity in the supply chain.

Uncertainties in exchange rates and general economic conditions pose risks to the Group, but these are monitored closely by the Directors to minimise any exposure. The financial statements have been prepared on the going concern basis. The Directors believe that existing cash reserves are more than sufficient for the next 12 months.

IDENTIFICATION OF PRINCIPAL RISKS AND ASSESSMENT

The risks and uncertainties that the Group faces change over time, and the Directors are cognisant of and assess new challenges and risks emerging to ensure these are mitigated as appropriate.

The principal risks identified include the following.

EXPOSURE TO CREDIT, LIQUIDITY AND CASH FLOW RISK

Wozair Group Holdings Limited adopts policies aimed at minimizing losses due to other parties failing to discharge an obligation and require that deferred terms be only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures. Wozair Group Holdings Limited mitigates the risk by collaborating with customers and credit control procedures supported with credit agencies.

Liquidity risk is minimized by managing cash generation in our operations, agreeing milestone payments with our customers and applying cash collection targets. Cash flow risk is managed by careful negotiation of terms with customers and suppliers.

Wozair Group Holdings Limited has entered into forward contracts to manage the foreign exchange risk concerning certain projects for which payment is received throughout the course of the project.

PEOPLE RISKS

Our staff are central to the Group's ability to meet its customer expectations and achieve its goals, and Wozair Group Holdings Limited needs to attract and retain highly qualified and competent staff.

The Directors perform a high degree of oversight in the Group's employee engagement providing the insight into the culture and mood of the workforce. Succession planning has been put in place to minimise risks further.

SUPPLY CHAIN RISKS

Global supply chain issues continue to improve and are monitored closely. Continuity of the supply chain is ensured by maintaining close collaboration with suppliers both in the UK and overseas.

Where there is any risk to material supply cost associated with regional instability affecting shipping routes or potential import tariffs Wozair Group Holdings Limited are managing that risk by placing bulk orders to secure pricing levels.

Where they may also be a risk with key components which are single sourced from one supplier, as required by our customers, Wozair Group Holdings Limited are offering alternatives and diversifying the Supply Chain to mitigate this risk.

INFLATION RISKS

Inflation has now stabilised in most areas making costs much easier to forecast, there may still be some inflationary risks in localised economies and the inflation risk associated with any potential tariffs need to be mitigated.

To mitigate the risk the sales team is working with current market prices and the purchasing team closely monitors purchase price variances and is focused on achieving savings.

COMPETITIVE RISKS

There is an ongoing risk of loss of market share or erosion on prices due to the activities of competitors or new entrants, which could negatively impact revenue and or profitability. This is a key area of focus for the Wozair management team.

Fundamental to mitigating the risk from competitors is the maintenance of our product quality, conforming to delivery performance and ensuring all customer expectations are met. Ongoing Research and Development into new products, and cost and delivery reduction initiatives feed into this mitigation.

KEY PERFORMANCE INDICATORS

The Directors consider that financial key performance indicators for the Group are turnover, gross profit margin, profit before tax and operating, cash generation and turnover.

These may be summarised as follows:

2025

2024

Change

£'000

£'000

Revenue

31,502

29,664

6.2%

Gross profit

11,639

9,576

21.5%

Gross profit margin

37%

32%

5%

Pre tax (loss) / profit

2,191

755

190.2%

Operating cash flow

956

1,376

It is anticipated that the Group will generate sufficient revenue to continue to meet its operational needs as well as financial and regulatory obligations.

ON BEHALF OF THE BOARD:

S J Collins - Director

27 October 2026

The directors present their report with the financial statements of the company and the group for the period 1 January 2025 to 29 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the period under review was that of the design and supply of specialist heating, ventilation and air conditioning equipment and systems.

DIVIDENDS

No dividends will be distributed for the period ended 29 December 2025.

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS

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

P M Azzopardi

S J Collins

H A Collins

S D Azzopardi

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The directors benefit from a qualifying indemnity provision in the form permitted by Section 234 of the Companies Act 2006 in respect of certain third party actions against directors. No claim or notice of claim in respect of these indemnities has been received in the year. The qualifying indemnity provision was in force throughout the financial year and up to the date of approval of the Report of the Directors.

GOING CONCERN

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

The following areas of risk have been considered when arriving at our going concern opinion for the 2025 statutory accounts.

Supply chain

Although there continues to be long lead times from suppliers this has been managed through building the lead times into our quotes to customers and communicating with suppliers and customers.

Commodity/General Price Increases

Due to the nature of our business, we always include the latest and predicted costs when tendering for projects to ensure that commodity, component, and labour cost variability is reflected in customer quotations. There is also a clear strategic plan to implement a group buying strategy building/maintaining relationships with our key suppliers, negotiating improved terms, supply, and pricing, together with a focus on overhead costs driven as part of the budgetary process for 2026.

Power/Energy costs - the UK sites were contracted with Engie to March 2025 for electricity and gas followed by a further contract with British Gas for electricity and SEFE for gas to March 2026. Therefore, the directors consider that they are protected from any significant market increases.

2026 Estimate

As part of our going concern review an estimate was produced for 2026 which has the group continuing to increase profitability as a result of a strong forward order book with forecast cash at bank more than sufficient to support the level of revenue without calling upon our current facilities with our bankers, which were renewed in June 2026. The market sentiment is positive, and the Directors expect to see this feed through with increased orders and revenue expected through 2026, 2027 and beyond.

Strategic Direction

The business considers its stated strategic plan of servicing its traditional markets, whilst diversifying into newer markets is starting to show with a higher percentage of revenue expected to come from Offshore Renewables in the next 3 years. The businesses traditional market of oil and gas, in the short term, is still very active. The business has a clearly defined and communicated three-year strategic plan which is regularly reviewed by the board. We believe that appropriate actions are being taken to address future challenges and opportunities to the company to result in a profitable and sustainable organisation. The medium to long term strategic aim is to rebalance the business more towards its nuclear, marine, renewables work and other emerging markets which is already happening. Wozair Group Holdings Limited will continue to pursue other necessary accreditations and development to continue the rebalancing of our business over time to ensure we are well placed to work in these markets going forward.

Conclusion

The group has sufficient financial resources together with customer contracts and a strong customer forward order book across different geographical areas and markets. Therefore, the directors believe that the group is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

DISCLOSURE IN THE STRATEGIC REPORT

As permitted by Paragraph 1A of Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 certain matters which are required to be disclosed in the directors' report have been omitted as they are included in the strategic report on pages 2 to 4. These matters relate to the financial risk management objectives and future developments.

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 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 auditors are aware of that information.

ON BEHALF OF THE BOARD:

S J Collins - Director

27 October 2026

Opinion

We have audited the financial statements of Wozair Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 29 December 2025 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 29 December 2025 and of the group's profit for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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:

Irregularities including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. To the extent to which our procedures are capable of detecting irregularities is detailed below; our approach to identify and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company and group through discussions with directors;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including, but not limited to, the Companies Act (2006), UK tax legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert

to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's and group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- Enquired with management and considered the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

- making enquiries of the component auditor, specifically in relation to fraud and non-compliance with laws and regulations at the subsidiary level.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions across the group;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions such as recharges from the parent.

- enquired with the component auditor in relation to related party balances and transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and the relevant regulator, where applicable.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors' and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

Clair Rayner FCA DChA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

Statutory Auditors and Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

27 October 2026

TURNOVER

4

31,501,855

29,663,806

Cost of sales

19,862,487

20,087,572

GROSS PROFIT

11,639,368

9,576,234

Administrative expenses

9,677,055

8,950,805

1,962,313

625,429

Other operating income

294,677

226,319

OPERATING PROFIT

6

2,256,990

851,748

Interest receivable and similar income

1,328

11,682

2,258,318

863,430

Interest payable and similar expenses

8

67,388

108,523

PROFIT BEFORE TAXATION

2,190,930

754,907

Tax on profit

9

280,086

(416,721

)

PROFIT FOR THE FINANCIAL PERIOD

1,910,844

1,171,628

Profit attributable to:

Owners of the parent

1,910,844

1,171,628

PROFIT FOR THE PERIOD

1,910,844

1,171,628

OTHER COMPREHENSIVE INCOME

Currency translation differences

813

(43,999

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

813

(43,999

)

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,911,657

1,127,629

Total comprehensive income attributable to:

Owners of the parent

1,911,657

1,127,629

FIXED ASSETS

Intangible assets

11

568,723

331,032

Tangible assets

12

2,688,568

2,235,378

Investments

13

-

-

3,257,291

2,566,410

CURRENT ASSETS

Stocks

14

1,195,911

1,335,558

Debtors

15

17,761,738

16,329,212

Cash at bank and in hand

3,731,943

3,085,640

22,689,592

20,750,410

CREDITORS

Amounts falling due within one year

16

13,066,543

12,435,341

NET CURRENT ASSETS

9,623,049

8,315,069

TOTAL ASSETS LESS CURRENT LIABILITIES

12,880,340

10,881,479

CREDITORS

Amounts falling due after more than one year

17

348,485

261,281

NET ASSETS

12,531,855

10,620,198

CAPITAL AND RESERVES

Called up share capital

21

1

1

Foreign exchange reserve

22

78,245

77,432

Share option reserve

22

1,757

1,757

Retained earnings

22

12,451,852

10,541,008

SHAREHOLDERS' FUNDS

12,531,855

10,620,198

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2026 and were signed on its behalf by:

S J Collins - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

8

8

8

8

CURRENT ASSETS

Debtors

15

1

1

CREDITORS

Amounts falling due within one year

16

8

8

NET CURRENT LIABILITIES

(7

)

(7

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1

1

CAPITAL AND RESERVES

Called up share capital

21

1

1

SHAREHOLDERS' FUNDS

1

1

Company's profit for the financial year

-

-

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2026 and were signed on its behalf by:

S J Collins - Director

Called up

Foreign

Share

share

Retained

exchange

option

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

1

9,369,380

121,431

-

9,490,812

Changes in equity

Share options granted

-

-

-

1,757

1,757

Total comprehensive income

-

1,171,628

(43,999

)

-

1,127,629

Balance at 31 December 2024

1

10,541,008

77,432

1,757

10,620,198

Changes in equity

Total comprehensive income

-

1,910,844

813

-

1,911,657

Balance at 29 December 2025

1

12,451,852

78,245

1,757

12,531,855

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

1

-

1

Changes in equity

Balance at 31 December 2024

1

-

1

Changes in equity

Balance at 29 December 2025

1

-

1

Cash flows from operating activities

Cash generated from operations

1

1,126,957

1,380,473

Interest paid

(67,388

)

(108,523

)

Tax paid

(103,600

)

(43,665

)

R&D Refund

-

147,792

Net cash from operating activities

955,969

1,376,077

Cash flows from investing activities

Purchase of intangible fixed assets

(307,766

)

-

Purchase of tangible fixed assets

(1,308,907

)

(976,833

)

Sale of tangible fixed assets

86,779

183,131

Capital repayments on loan debtor

-

251,127

Interest received

1,328

11,682

Net cash from investing activities

(1,528,566

)

(530,893

)

Cash flows from financing activities

Loan repayments in year

(118,305

)

(118,305

)

HP repayments in the year

(301,365

)

(155,189

)

HP agreements entered into

459,715

457,225

Amount introduced by directors

153,152

143,691

Amount withdrawn by directors

(263,565

)

(581,787

)

Share options granted

-

1,757

Net cash from financing activities

(70,368

)

(252,608

)

(Decrease)/increase in cash and cash equivalents

(642,965

)

592,576

Cash and cash equivalents at beginning of period

2

3,085,640

2,493,064

Cash and cash equivalents at end of period

2

2,442,675

3,085,640

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

Period

1.1.25

to

Year Ended

29.12.25

31.12.24

£

£

Profit before taxation

2,190,930

754,907

Depreciation charges

864,284

621,306

Profit on disposal of fixed assets

(86,779

)

(68,403

)

Currency translation differences

813

(43,999

)

Foreign exchange on fixed assets

32,660

2,721

Computer software amortisation

28,848

-

Finance costs

67,388

108,523

Finance income

(1,328

)

(11,682

)

3,096,816

1,363,373

Decrease in stocks

139,647

107,303

Increase in trade and other debtors

(1,609,012

)

(4,924,794

)

(Decrease)/increase in trade and other creditors

(500,494

)

4,834,591

Cash generated from operations

1,126,957

1,380,473

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:

Period ended 29 December 2025

29.12.25

1.1.25

£

£

Cash and cash equivalents

3,731,943

3,085,640

Bank overdrafts

(1,289,268

)

-

2,442,675

3,085,640

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

3,085,640

2,493,064