ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Registered number: 13953751

ORIGIN STORAGE HOLDINGS GROUP LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

ORIGIN STORAGE HOLDINGS GROUP LTD

COMPANY INFORMATION

Director	Mr S Eling


Registered number	13953751


Registered office	Unit B4
	Telford Road
	Basingstoke
	Hampshire
	RG21 6YU


Independent auditor	James Cowper Kreston Audit
	Chartered Accountants and Statutory Auditor
	2 Communications Road
	Greenham Business Park
	Greenham
	Newbury
	Berkshire
	RG19 6AB

ORIGIN STORAGE HOLDINGS GROUP LTD

CONTENTS

	Page
Group Strategic Report	1 - 2
Director's Report	3 - 4
Independent Auditor's Report	5 - 8
Consolidated Statement of Comprehensive Income	9
Consolidated Balance Sheet	10
Company Balance Sheet	11
Consolidated Statement of Changes in Equity	12
Company Statement of Changes in Equity	13
Consolidated Statement of Cash Flows	14
Consolidated Analysis of Net Debt	15
Notes to the Financial Statements	16 - 31

ORIGIN STORAGE HOLDINGS GROUP LTD

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2026

Introduction

The Directors present the Strategic Report for the year ended 31 March 2026.

Business review

The board is very pleased with the results of the financial year, especially given the constant market changes throughout the year. The channel that Origin operates in has seen some incredible shifts in supply and demand with several key product lines experiencing heightened demand well beyond the supply capacity of the industry. This led to increased revenues and resulting in increased profits whilst the rest of the portfolio also experienced strong organic growth beyond last year which culminated in an exceptional overall result.

As of 31 March 2026 the group had net assets amounting to £3M (£1.6M in 2025), stock was considerably higher at £6.3M (£2.5M in 2025), trade debtors sat at £8.1M (£4.3M in 2025) and creditors £6.3M (£2.7M in 2025).

Principal risks and uncertainties

The memory and SSD market that Origin operates in has been heavily affected by the progression of AI because it has led to extreme price rises and stock shortages across the industry. Whilst pricing has now stabilised, stock is still uncertain, and with this set to continue potentially for the next couple of years it brings a strong focus on managing inventory correctly with a heighted risk of stock becoming loss making if not managed closely.

Cash Flow and Liquidity risk

Following the exceptional results towards the end of the financial year, cash flow saw a strong improvement despite our stock holding rising to an all time high. Once the market settles this stock value will reduce and the results of Q4 will start to impact our cash flow in a much more positive manner than it already has.

Competitive risk

The competitive landscape has changed a little this year with a number of mergers and also some noticeable gaps left behind with one of the industry’s largest distributors going into administration. Despite some of these mergers creating much larger, more resourceful competitors, Origin’s service led approach hasn’t waivered and as a result we are seeing strong customer acquisition and increased levels of existing customer retention.

Page 1

ORIGIN STORAGE HOLDINGS GROUP LTD

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026


Financial key performance indicators
The company’s key financial indicators during the year were as follows:
	2026	2025
	£000's	£000's

Turnover	38,668	23,993
Gross profit	8,349	4,321
Gross profit %	22%	18%
Operating profit/(loss)	3,736	359
Profit/(loss) after tax	2,576	(145)
Net assets	3,044	1,576

This report was approved by the board and signed on its behalf.

Mr S Eling

Director

Date: 29 October 2026

Page 2

ORIGIN STORAGE HOLDINGS GROUP LTD

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 MARCH 2026

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

Director's responsibilities statement

The director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Group's financial statements 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 Group will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to 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.

Results and dividends

The profit for the year, after taxation, amounted to £2,576,357 (2025 - loss £144,801).

Director

The director who served during the year was:

Mr S Eling

Disclosure of information to auditor

The director at the time when this Director's Report is approved has confirmed that:

∙so far as he is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and

∙he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.

Page 3

ORIGIN STORAGE HOLDINGS GROUP LTD

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

Auditor

The auditor, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

Mr S Eling

Director

Date: 29 October 2026

Page 4

ORIGIN STORAGE HOLDINGS GROUP LTD

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORIGIN STORAGE HOLDINGS GROUP LTD

Opinion

We have audited the financial statements of Origin Storage Holdings Group Ltd (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2026, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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's 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's 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 United Kingdom, including the Financial Reporting Council'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 or 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.

Page 5

ORIGIN STORAGE HOLDINGS GROUP LTD

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORIGIN STORAGE HOLDINGS GROUP LTD (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The director is responsible for the other information contained within the Annual Report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion 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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Director's Report 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 Director's Report.

We have nothing to report in respect of the following matters in relation to which 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 directors

As explained more fully in the Director's Responsibilities Statement set out on page 3, 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 is 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.

Page 6

ORIGIN STORAGE HOLDINGS GROUP LTD

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORIGIN STORAGE HOLDINGS GROUP LTD (CONTINUED)

Auditor's 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 an Auditor's Report 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 Group financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

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

∙Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

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 Auditor's Report.

Page 7

ORIGIN STORAGE HOLDINGS GROUP LTD

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORIGIN STORAGE HOLDINGS GROUP LTD (CONTINUED)

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 an Auditor's Report 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.

Jonathan Baillie BA (Hons) ACA FCCA (Senior Statutory Auditor)

for and on behalf of

James Cowper Kreston Audit

Chartered Accountants and Statutory Auditor

2 Communications Road

Greenham Business Park

Greenham

Newbury

Berkshire

RG19 6AB

30 October 2026

Page 8

ORIGIN STORAGE HOLDINGS GROUP LTD

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2026

	2026	2025
Note	£	£


Turnover	4	38,668,402	23,992,919
Cost of sales		(30,319,687)	(19,672,218)
Gross profit		8,348,715	4,320,701
Administrative expenses		(4,613,067)	(3,961,433)
Operating profit	5	3,735,648	359,268
Interest receivable and similar income		261	-
Interest payable and similar expenses	9	(199,411)	(227,744)
Profit before taxation		3,536,498	131,524
Tax on profit	10	(960,141)	(276,325)
Profit/(loss) for the financial year		2,576,357	(144,801)

Profit/(loss) for the year attributable to:
Owners of the parent Company	2,576,357	(144,801)
	2,576,357	(144,801)

There was no other comprehensive income for 2026 (2025:£NIL).

The notes on pages 16 to 31 form part of these financial statements.

Page 9

ORIGIN STORAGE HOLDINGS GROUP LTD

REGISTERED NUMBER: 13953751

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	12		-		228,687
Tangible assets	13		146,425		156,113
			146,425		384,800
Current assets
Stocks	15	6,314,135		2,526,471
Debtors: amounts falling due within one year	16	9,532,564		4,921,718
Cash at bank and in hand	17	355,945		199,812
		16,202,644		7,648,001
Creditors: amounts falling due within one year	18	(12,255,958)		(5,875,567)
Net current assets			3,946,686		1,772,434
Total assets less current liabilities			4,093,111		2,157,234
Creditors: amounts falling due after more than one year	19		(1,020,938)		(550,948)
Provisions for liabilities
Deferred taxation	22	(28,037)		(30,339)
			(28,037)		(30,339)
Net assets			3,044,136		1,575,947

Capital and reserves
Called up share capital	23	478	628
Share premium	24	19,398	19,398
Capital redemption reserve	24	150	-
Foreign exchange reserve	24	5,087	(10,145)
Other reserves	24	2,051,639	2,051,639
Profit and loss account	24	967,384	(485,573)
		3,044,136	1,575,947

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr S Eling

Director

Date: 29 October 2026

The notes on pages 16 to 31 form part of these financial statements.

Page 10

ORIGIN STORAGE HOLDINGS GROUP LTD

REGISTERED NUMBER: 13953751

COMPANY BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Investments	14		3,683,746		3,683,746
Current assets
Debtors: amounts falling due within one year	16	2,899,824		1,716,091
Cash at bank and in hand	17	8,006		-
		2,907,830		1,716,091
Creditors: amounts falling due within one year	18	(3,484,321)		(2,735,119)
Net current liabilities			(576,491)		(1,019,028)
Total assets less current liabilities			3,107,255		2,664,718

Creditors: amounts falling due after more than one year	19		(1,020,938)		(550,948)

Net assets			2,086,317		2,113,770

Capital and reserves
Called up share capital	23	478	628
Share premium	24	19,398	19,398
Capital redemption reserve	24	150	-
Other reserves	24	2,051,639	2,051,639
Profit and loss account carried forward		14,652	42,105
		2,086,317	2,113,770

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr S Eling

Director

Date: 29 October 2026

The notes on pages 16 to 31 form part of these financial statements.

Page 11

ORIGIN STORAGE HOLDINGS GROUP LTD

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

	Called up share capital	Share premium account	Capital redemption reserve	Foreign exchange reserve	Other reserves	Profit and loss account	Total equity
	£	£	£	£	£	£	£
At 1 April 2025	628	19,398	-	(10,145)	2,051,639	(485,573)	1,575,947

Profit for the year	-	-	-	-	-	2,576,357	2,576,357
Dividends paid	-	-	-	-	-	(188,400)	(188,400)
Purchase of own shares	-	-	150	-	-	(935,000)	(934,850)
Shares cancelled	(150)	-	-	-	-	-	(150)
Movement in foreign exchange	-	-	-	15,232	-	-	15,232
At 31 March 2026	478	19,398	150	5,087	2,051,639	967,384	3,044,136

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Capital redemption reserve	Foreign exchange reserve	Other reserves	Profit and loss account	Total equity
	£	£	£	£	£	£	£
At 1 April 2024	628	19,398	-	4,810	2,051,639	(150,751)	1,925,724

Loss for the year	-	-	-	-	-	(144,801)	(144,801)
Dividends paid	-	-	-	-	-	(190,021)	(190,021)
Movement in foreign exchange	-	-	-	(14,955)	-	-	(14,955)
At 31 March 2025	628	19,398	-	(10,145)	2,051,639	(485,573)	1,575,947

The notes on pages 16 to 31 form part of these financial statements.

Page 12

ORIGIN STORAGE HOLDINGS GROUP LTD

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

	Called up share capital	Share premium account	Capital redemption reserve	Other reserves	Profit and loss account	Total equity
	£	£	£	£	£	£
At 1 April 2025	628	19,398	-	2,051,639	42,105	2,113,770

Profit for the year	-	-	-	-	1,095,947	1,095,947
Dividends paid	-	-	-	-	(188,400)	(188,400)
Purchase of own shares	-	-	150	-	(935,000)	(934,850)
Shares cancelled	(150)	-	-	-	-	(150)
At 31 March 2026	478	19,398	150	2,051,639	14,652	2,086,317

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Other reserves	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2024	628	19,398	2,051,639	(14,026)	2,057,639

Profit for the year	-	-	-	246,152	246,152
Dividends paid	-	-	-	(190,021)	(190,021)
At 31 March 2025	628	19,398	2,051,639	42,105	2,113,770

The notes on pages 16 to 31 form part of these financial statements.

Page 13

ORIGIN STORAGE HOLDINGS GROUP LTD

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2026

			2026	2025
			£	£

Cash flows from operating activities
Profit/(loss) for the financial year	2,576,357	(144,801)
Adjustments for:
Amortisation of intangible assets	228,687	914,748
Depreciation of tangible assets	46,080	35,422
Loss on disposal of tangible assets	147	378
Interest paid	199,411	227,734
Interest received	(261)	10
Taxation charge	960,141	276,325
(Increase)/decrease in stocks	(3,787,664)	127,846
(Increase) in debtors	(4,610,847)	(1,933,912)
Increase in creditors	5,810,111	1,378,935
Corporation tax (paid)	(266,574)	(335,000)
Foreign exchange	15,086	(3,399)
Net cash generated from operating activities	1,170,674	544,286

Cash flows from investing activities
Purchase of tangible fixed assets	(36,392)	(17,415)
Interest received	261	(10)
Net cash from investing activities	(36,131)	(17,425)
Cash flows from financing activities
Purchase of own shares	(935,000)	-
New secured loans	1,485,000	-
Repayment of other loans	(1,131,260)	(525,000)
Dividends paid	(188,400)	(190,021)
Interest paid	(199,411)	(227,734)
Net cash used in financing activities	(969,071)	(942,755)
Net increase/(decrease) in cash and cash equivalents	165,472	(415,894)
Cash and cash equivalents at beginning of year	190,199	606,093
Cash and cash equivalents at the end of year	355,671	190,199

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	355,671	190,199

The notes on pages 16 to 31 form part of these financial statements.

Page 14

ORIGIN STORAGE HOLDINGS GROUP LTD

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 MARCH 2026


At 1 April 2025	Cash flows	At 31 March 2026
£	£	£

Cash at bank and in hand	199,812	156,133	355,945
Bank overdrafts	(9,613)	9,613	-
Debt due after 1 year	(550,948)	(841,240)	(1,392,188)
Debt due within 1 year	(567,499)	487,500	(79,999)
	(928,248)	(187,994)	(1,116,242)

The notes on pages 16 to 31 form part of these financial statements.

Page 15

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Origin Storage Holdings Group Limited (registered number 13953751) is a private company, limited by shares and registered in England and Wales under the Companies Act. The Company's registered office is Unit 2-4 The Rutherford Centre, Rutherford Road, Basingstoke, Hampshire, RG24 8PB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are rounded to the nearest whole pound sterling.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 16

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account within 'administrative expenses'

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'administrative expenses'.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 17

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life of 3 years.

Page 18

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Integral features	-		Over lease term
Motor vehicles	-	25%	Per annum
Fixtures and fittings	-	25%	Per annum
Office equipment	-	33%	Per annum
Computer equipment	-	25%	Per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Page 19

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2.18

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from banks and related parties.

Short term debtors and creditors are measured at the transaction price, less any impairment. Other financial instruments are measured initially at fair value, net of transaction costs, and are measured subsequently at ammortised cost using the effective interest method, less any impairment.

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Financial liabilties and equity are classified according to the substance of the financial instrument's contractual obligiations, rather than the financial instrument's legal form.

2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 20

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting polocies and reported amounts of assets, liabilities income and expenses. Actual results may differ from the estimates.

The items in the financial statements where these judgements and estimates have been made include:

Useful economic lives
The annual amortisation charge for intangible assets is sensitive to change in the estimated useful economic lives and residual value of the asset.

Provisions
As part of the identification and measurement of assets and liabilities, the Group has recognised a provision for impaired stock. In determining the fair value of the provision, assumptions and estimates are made in relation to future product sales.

Turnover

An analysis of turnover by class of business is as follows:
	2026	2025
	£	£

	Sale of products	38,668,402	23,992,919

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	33,274,306	19,517,413
Rest of Europe	5,030,715	3,957,870
Rest of the world	363,381	517,636
	38,668,402	23,992,919

Exchange differences	(31,817)	9,185
Other operating lease rentals	166,706	141,873
Depreciation	46,080	35,422
Amortisation	228,687	914,748
	473,290	1,082,858

Page 21

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Audit services for the statutory audit of the Group's annual financial statements

21,850

21,220

7.	Employees
	Staff costs, including director's remuneration, were as follows:

		Group	Group
		2026	2025
		£	£

Wages and salaries	2,269,594	1,472,103
Social security costs	278,978	178,055
Cost of defined contribution scheme	112,534	92,339
	2,661,106	1,742,497

The average monthly number of employees, including the director, during the year was as follows:

	2026	2025
	No.	No.

Employees	37	34

8.	Director's remuneration
		2026	2025
		£	£

Director's emoluments	33,028	26,867
Group contributions to defined contribution pension schemes	36,500	30,000
	69,528	56,867

During the year retirement benefits were accruing to 1 directors (2025 - 1) in respect of defined contribution pension schemes.

Page 22

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

9.	Interest payable and similar expenses
		2026	2025
		£	£

Bank interest payable	176,747	208,584
Finance leases and hire purchase contracts	22,664	19,160
	199,411	227,744

Corporation tax
Current tax on profits for the year	962,465	280,612
Adjustments in respect of previous periods	(22)	2,880
	962,443	283,492

Total current tax	962,443	283,492

Deferred tax
Origination and reversal of timing differences	(2,302)	(7,167)
Total deferred tax	(2,302)	(7,167)


		960,141	276,325

Page 23

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

10.Taxation (continued)

Profit on ordinary activities before tax

3,536,498

131,524

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	884,125	32,881
Effects of:
Non-tax deductible amortisation of goodwill and impairment	68,692	228,687
Expenses not deductible for tax purposes	7,346	11,877
Adjustments to tax charge in respect of prior periods	(22)	2,880
Total tax charge for the year	960,141	276,325

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

11.	Dividends
		2026	2025
		£	£

Dividends paid

188,400

190,021

Page 24

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

12.	Intangible assets
	Group and Company

		Goodwill
		£

	At 1 April 2025	2,744,245
	At 31 March 2026	2,744,245

	At 1 April 2025	2,515,558
	Charge for the year	228,687
	At 31 March 2026	2,744,245
	Net book value
	At 31 March 2026	-
	At 31 March 2025	228,687

Page 25

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

13.	Tangible fixed assets
	Group

	Integral features	Motor vehicles	Fixtures and fittings	Office equipment	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 April 2025	26,724	43,788	31,781	11,663	169,594	283,550
Additions	2,820	-	15,085	333	18,154	36,392
Disposals	-	-	(2,631)	(810)	(8,118)	(11,559)
At 31 March 2026	29,544	43,788	44,235	11,186	179,630	308,383
Depreciation
At 1 April 2025	8,812	5,890	18,312	9,731	84,692	127,437
Charge for the year	3,925	4,688	7,140	1,328	28,999	46,080
Disposals	-	-	(2,631)	(810)	(8,118)	(11,559)
At 31 March 2026	12,737	10,578	22,821	10,249	105,573	161,958
Net book value
At 31 March 2026	16,807	33,210	21,414	937	74,057	146,425
At 31 March 2025	17,912	37,898	13,469	1,932	84,902	156,113

Page 26

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

14.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2025	3,683,746
	At 31 March 2026	3,683,746

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding

	Origin Storage Limited	Ordinary	100%
	Origin Storage Holdings Limited	Ordinary	100%

15.	Stocks
		Group	Group
		2026	2025
		£	£

	Finished goods and goods for resale	6,314,135	2,526,471

16.

Debtors

Group	Group	Company	Company
2026	2025	2026	2025
£	£	£	£


Trade debtors	8,052,137	4,288,369	-	-
Amounts owed by group undertakings	-	-	2,884,510	1,709,510
Other debtors	59,803	35,778	-	-
Prepayments and accrued income	1,420,624	597,571	15,314	6,581
	9,532,564	4,921,718	2,899,824	1,716,091

Page 27

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

17.	Cash and cash equivalents
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Cash at bank and in hand	355,945	199,812	8,006	-
Less: bank overdrafts	-	(9,613)	-	(9,613)

18.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Bank overdrafts	-	9,613	-	9,613
Bank loans	371,523	487,500	371,250	487,500
Trade creditors	6,325,098	2,745,632	-	-
Amounts owed to group undertakings	-	-	3,098,049	2,224,957
Corporation tax	800,753	104,884	-	-
Other taxation and social security	1,352,936	743,823	-	-
Other creditors	2,582,755	1,295,594	-	1,928
Accruals and deferred income	822,893	488,521	15,022	11,121
	12,255,958	5,875,567	3,484,321	2,735,119

Included within other creditors is an amount of £2,446,640 (2025: £1,163,769) for an RBS ID facility. The amounts are repayable on demand and are secured against trade debtors.

19.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Bank loan	1,020,938	-	1,020,938	-
Other loans	-	550,948	-	550,948
	1,020,938	550,948	1,020,938	550,948

The bank loan is secured by way of fixed and floating charges over the assets of the group.

Interest was charged at a rate of 7% per annum on the other loan balances.

Page 28

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

20.	Loans
	The bank loan is secured by way of fixed and floating charges over the assets of the group. The bank loan matures in March 2028, bears interest of 2.75% on top of the banks base rate, and requires quarterly payments of £92,812.50 through to maturity, at which time all unpaid principal and interest is due. Interest was charged at a rate of 7% per annum on the other loan balances.
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Amounts falling due within one year
Bank loan	371,523	487,500	371,250	487,500
Amounts falling due 1-2 years
Bank loan	1,020,938	-	1,020,938	-
Other loan	-	550,948	-	550,948

	1,392,461	1,038,448	1,392,188	1,038,448

21.	Financial instruments
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Financial assets
Cash at bank and in hand	355,945	199,812	8,006	(9,613)
Financial assets measured at amortised cost	8,111,755	4,324,147	2,884,510	1,709,510
	8,467,700	4,523,959	2,892,516	1,699,897

	Financial liabilities
	Financial liabilities measured at amortised cost	(10,300,314)	(5,079,674)	(1,392,188)	(1,038,448)

	Financial assets measured at amortised cost comprise of trade debtors, amounts due from group companies and other debtors.
	Financial liabilities measured at amortised cost comprise of bank loans, trade and other creditors.

Page 29

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

22.	Deferred taxation
	Group

		2026
		£
	At beginning of year	(30,339)
	Charged to profit or loss	2,302
	At end of year	(28,037)

The provision for deferred taxation is made up as follows:
	Group	Group
	2026	2025
	£	£

Fixed asset timing differences	(30,339)	(32,696)
Short term timing differences	2,302	2,357
	(28,037)	(30,339)

23.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

425 (2025 - 425) Ordinary - A shares of £1.00 each	425	425
0 (2025 - 150) Ordinary - B shares of £1.00 each	-	150
38 (2025 - 38) Ordinary - C shares of £1.00 each	38	38
15 (2025 - 15) Ordinary - D shares of £1.00 each	15	15

	478	628

On 11 December 2026, Origin Storage Holdings Group Limited purchased 150 of its own ordinary shares of £1 each for total consideration of £935,000. The shares were subsequently cancelled, resulting in a reduction in issued share capital of £150. The excess of the purchase consideration over the nominal value of the shares was recognised within equity.

Page 30

ORIGIN STORAGE HOLDINGS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

24.

Reserves

Share premium account

This reserve records the difference between the par value of the shares issued and the issue price.

Capital redemption reserve

This reserve records amounts transferred from retained earnings on the purchase and cancellation of the company's own shares.

Other reserves

This reserve records the accumulated merger relief on a previously executed share for share exchange.

Profit and loss account

This reserve records retained earnings and accumulated losses, net of dividends paid.

25.	Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £112,534 (2025: £92,339). At the year end £15,998 (2025: £12,223) was payable to the pension provider.

26.	Commitments under operating leases
	At 31 March 2026 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2026	2025
		£	£

Not later than 1 year	159,573	182,527
Later than 1 year and not later than 5 years	277,280	438,103
	436,853	620,630

27.	Related party transactions
	Included within other creditors is an amount of £79,999 (2025: £79,999) owed to a director. Included in other loans is an amount of £NIL (2025: £550,948) which is owed to individuals that were shareholders during the year. The Company is exempt from disclosing related party transactions with other 100% owned members of the Group by virtue of FRS 102 section 33.1A.

28.	Controlling party

During the year the controlling party was the Director S Eling.

Page 31