REGISTERED NUMBER: 06209056 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

LEADING EDGE GROUP (UK) LIMITED

Page

Company Information

1

Group Strategic Report

2

to

3

Report of the Directors

4

to

5

Report of the Independent Auditors

6

to

9

Consolidated Statement of Comprehensive Income

10

Consolidated Statement of Financial Position

11

Company Statement of Financial Position

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Statement of Cash Flows

15

Notes to the Consolidated Statement of Cash Flows

16

Notes to the Consolidated Financial Statements

17

to

33

DIRECTORS:

Mr S R Lane

Mr D Hill

Mr P Knock

SECRETARY:

Mrs S A Knapp

REGISTERED OFFICE:

Ground Floor

Raglan House Malthouse Avenue

Cardiff Gate Business Park

Cardiff

CF23 8RA

REGISTERED NUMBER:

06209056 (England and Wales)

AUDITORS:

Seymour Taylor Limited, Statutory Auditor

First Floor North

40 Oxford Road

High Wycombe

Buckinghamshire

HP11 2EE

The directors present their strategic report of the company and the group for the year ended 30 June 2025.

REVIEW OF BUSINESS

The group's key financial and performance indicators during the year were as follows:

2025

2024

Variance

£'000000

£'000000

%

Turnover

15,855

10,643

48

Profit/(loss) before tax

1,335

1,261

6

Shareholders' funds

3,341

2,263

37

Leading Edge Group (UK) Limited as a company continued to provide services for BT. The focus in FY25 was to maximise the BT proposition. Investments in the Sales Support function, through increasing the number of Sales Support FTEs and providing a clear team structure, showed returns toward the end of the year.

During the year, a new subsidiary Leading Edge Group (ICT) was formed. The successful acquisition during the year of Venridge Limited trading as Contrac IT secured diversification of business operations and further strengthened the group's position.

The group appreciates the continued support of all stakeholders throughout the year. All teams demonstrated strong commitment and enthusiasm in contributing to another great year.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the group are as follows:

BT

Key risks include sudden and significant changes in the BT proposition, which could impact the group's profitability. To mitigate this, the group remains focused on strengthening its strategic relationship with BT as a trusted business partner.

Competitor risks

While the group recognises the competitive risks posed by alternative suppliers, the strength of the BT brand provides access to the market with leading technologies and premium services. The group continues to invest in training and improving the Sales Support function to ensure a strong focus on delivering customer needs.

General economic uncertainty

The Directors are confident that the group remains a going concern and is well positioned to deliver the expected future results.

Emissions and energy consumption

Disclosure in respect of greenhouse gas emissions, energy consumption and energy efficiency has not been included within this report as the group does not exceed the thresholds to disclose.

SECTION 172(1) STATEMENT

The directors consider that the group, BT, workforce and customers are key stakeholders and are considered in key decisions.

Leading Edge group

We build value for the group by focusing on strong, sustainable results. Our Business Plan highlights the key results we track, and we meet with management on monthly basis to discuss strategic decisions and actions. After reviewing the funding needs of the business, we agreed that no dividend will be paid from the 2025 results.

BT

The partnership with BT is critical to our business success. We recognise the strategic importance of this relationship and are committed to maintaining open, collaborative, and long-term engagement with BT's key personnel. We ensure that our partnership continues to create mutual value and supports the delivery of our strategic goals.

Workforce

Our people make a real difference every day, delivering great results for our stakeholders and having a voice in key decisions. Supporting staff well-being and welfare is one of the main pillars of our Business Plan. We run an annual engagement survey, and the feedback helps us make improvements that matter. Our Culture Program-celebrating successes and recognising top performers-brings our vision to life and helps us build a workplace where everyone can thrive.

Customers

Our Business Plan is focussed on delivering value for our customers. We consider delivering for our customer requirements as key to continued success.

Key Decisions

During 2024/2025, key decisions included diversifying the business through the acquisition of Contrac IT, awarding pay increases as part of the annual review, and continuing to grow our workforce. These actions were taken with the long-term interests of our stakeholders in mind.

ON BEHALF OF THE BOARD:

Mr D Hill - Director

21 October 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2025.

PRINCIPAL ACTIVITIES

The principal activities of the company and group during the period was that of selling BT services and computer facilities management.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

FUTURE DEVELOPMENTS

The strategic focus for Leading Edge Group (UK) Ltd in FY25/26 will shift from acquisition-led growth to consolidation. Investment will be directed towards strengthening internal capabilities, with emphasis on people, process and systems optimisation. A move towards a more strategic group organisational design is underway, making use of key senior personnel to embed best practice across the group. Shared service teams will be impacted as part of this, with changes aimed at improving how shared functions operate and how business-critical projects are delivered. This shift reflects the group's commitment to building a scalable and resilient foundation for long-term growth.

Severnside British Telecom Local Business projects will focus on developing sales skills to support BT's shift towards a more consultative, acquisition-based sales approach. Training and enablement will be key to helping the teams adapt, and this will further strengthen the partnership with BT as they move towards a quality-over-quantity performance model.

Venridge Limited trading as Contrac IT's plans are more foundational, with the goal of achieving quality business and management intelligence by year-end. This will require a near-complete overhaul of back-office systems, supported by strong processes to deliver the right outcomes. Finance, recurring revenue recognition and engineering projects will be the focus for the first half of the year, with sales and marketing following in the second half. A clear go-to-market strategy will be essential as Venridge Limited trading as Contrac IT moves into its second year post-acquisition.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2024 to the date of this report.

Mr S R Lane

Mr D Hill

Other changes in directors holding office are as follows:

Mr P Knock - appointed 20 November 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Seymour Taylor Limited, will be re-appointed in accordance with section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

Mr D Hill - Director

21 October 2025

Opinion

We have audited the financial statements of Leading Edge Group (UK) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Statement of 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 30 June 2025 and of the group's profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 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 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:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the group's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

- results of our enquiries of management, about their own identification and assessment of the risks of irregularities;

- any matters we identified relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group's ability to operate or to avoid a material penalty.

Audit response to risks identified

As a result of performing the above, our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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 group'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 group'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 group and the group's members as a body, for our audit work, for this report, or for the opinions we have formed.

Elizabeth Horton FCA FCCA (Senior Statutory Auditor)

for and on behalf of Seymour Taylor Limited, Statutory Auditor

First Floor North

40 Oxford Road

High Wycombe

Buckinghamshire

HP11 2EE

21 October 2025

TURNOVER

3

15,855,130

10,642,801

Cost of sales

9,963,661

6,208,977

GROSS PROFIT

5,891,469

4,433,824

Administrative expenses

4,474,696

3,172,924

OPERATING PROFIT

5

1,416,773

1,260,900

Interest payable and similar expenses

6

81,565

-

PROFIT BEFORE TAXATION

1,335,208

1,260,900

Tax on profit

7

412,325

383,077

PROFIT FOR THE FINANCIAL YEAR

922,883

877,823

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

922,883

877,823

Profit attributable to:

Owners of the parent

844,042

877,823

Non-controlling interests

78,841

-

922,883

877,823

Total comprehensive income attributable to:

Owners of the parent

844,042

877,823

Non-controlling interests

78,841

-

922,883

877,823

FIXED ASSETS

Intangible assets

9

2,801,857

1

Tangible assets

10

218,598

131,543

Investments

11

-

-

3,020,455

131,544

CURRENT ASSETS

Stocks

12

122,507

-

Debtors

13

4,384,625

2,924,623

Cash at bank and in hand

3,089,005

1,792,463

7,596,137

4,717,086

CREDITORS

Amounts falling due within one year

14

4,342,618

2,533,385

NET CURRENT ASSETS

3,253,519

2,183,701

TOTAL ASSETS LESS CURRENT LIABILITIES

6,273,974

2,315,245

CREDITORS

Amounts falling due after more than one year

15

(2,700,000

)

(30,000

)

PROVISIONS FOR LIABILITIES

19

(233,270

)

(21,911

)

NET ASSETS

3,340,704

2,263,334

CAPITAL AND RESERVES

Called up share capital

20

44,445

44,445

Share premium

21

903,450

903,450

Retained earnings

21

2,159,481

1,315,439

SHAREHOLDERS' FUNDS

3,107,376

2,263,334

NON-CONTROLLING INTERESTS

22

233,328

-

TOTAL EQUITY

3,340,704

2,263,334

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2025 and were signed on its behalf by:

Mr D Hill - Director

FIXED ASSETS

Intangible assets

9

1

1

Tangible assets

10

125,082

131,543

Investments

11

60

-

125,143

131,544

CURRENT ASSETS

Debtors

13

4,603,688

2,924,623

Cash at bank and in hand

3,028,384

1,792,463

7,632,072

4,717,086

CREDITORS

Amounts falling due within one year

14

2,888,570

2,533,385

NET CURRENT ASSETS

4,743,502

2,183,701

TOTAL ASSETS LESS CURRENT LIABILITIES

4,868,645

2,315,245

CREDITORS

Amounts falling due after more than one year

15

(1,800,000

)

(30,000

)

PROVISIONS FOR LIABILITIES

19

(21,911

)

(21,911

)

NET ASSETS

3,046,734

2,263,334

CAPITAL AND RESERVES

Called up share capital

20

44,445

44,445

Share premium

903,450

903,450

Retained earnings

2,098,839

1,315,439

SHAREHOLDERS' FUNDS

3,046,734

2,263,334

Company's profit for the financial year

783,400

877,823

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mr D Hill - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 July 2023

40,001

437,616

903,450

Changes in equity

Issue of share capital

4,444

-

-

Total comprehensive income

-

877,823

-

Balance at 30 June 2024

44,445

1,315,439

903,450

Changes in equity

Total comprehensive income

-

844,042

-

44,445

2,159,481

903,450

Acquisition of non-controlling interest

-

-

-

Balance at 30 June 2025

44,445

2,159,481

903,450

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 July 2023

1,381,067

-

1,381,067

Changes in equity

Issue of share capital

4,444

-

4,444

Total comprehensive income

877,823

-

877,823

Balance at 30 June 2024

2,263,334

-

2,263,334

Changes in equity

Total comprehensive income

844,042

78,841

922,883

3,107,376

78,841

3,186,217

Acquisition of non-controlling interest

-

154,487

154,487

Balance at 30 June 2025

3,107,376

233,328

3,340,704

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 July 2023

40,001

437,616

903,450

1,381,067

Changes in equity

Issue of share capital

4,444

-

-

4,444

Total comprehensive income

-

877,823

-

877,823

Balance at 30 June 2024

44,445

1,315,439

903,450

2,263,334

Changes in equity

Total comprehensive income

-

783,400

-

783,400

Balance at 30 June 2025

44,445

2,098,839

903,450

3,046,734

Cash flows from operating activities

Cash generated from operations

1

1,185,346

1,917,600

Interest paid

(81,565

)

-

Tax paid

434,226

(3,312

)

Net cash from operating activities

1,538,007

1,914,288

Cash flows from investing activities

Purchase of tangible fixed assets

(87,836

)

(61,261

)

Sale of tangible fixed assets

-

(7,800

)

Purchase of subsidiary undertaking

(2,171,010

)

-

Cash acquired on acquisition

81,407

-

Net cash from investing activities

(2,177,439

)

(69,061

)

Cash flows from financing activities

New loans in year

2,142,000

-

Loan repayments in year

(256,000

)

(326,000

)

Share issue

-

4,444

Increase/(decrease) in loans to group

49,974

(103,860

)

Net cash from financing activities

1,935,974

(425,416

)

Increase in cash and cash equivalents

1,296,542

1,419,811

Cash and cash equivalents at beginning of year

2

1,792,463

372,652

Cash and cash equivalents at end of year

2

3,089,005

1,792,463

1.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

30.6.25

30.6.24

£

£

Profit for the financial year

922,883

877,823

Depreciation charges

97,979

49,775

Loss on disposal of fixed assets

8,520

3,973

Amortisation

177,223

-

Finance costs

81,565

-

Taxation

412,325

383,077

1,700,495

1,314,648

Increase in stocks

(122,507

)

-

Increase in trade and other debtors

(1,509,976

)

(533,581

)

Increase in trade and other creditors

1,117,334

1,136,533

Cash generated from operations

1,185,346

1,917,600

2.	CASH AND CASH EQUIVALENTS

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

Year ended 30 June 2025

30.6.25

1.7.24

£

£

Cash and cash equivalents

3,089,005

1,792,463

Year ended 30 June 2024

30.6.24

1.7.23

£

£

Cash and cash equivalents

1,792,463

372,652

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.24

Cash flow

At 30.6.25

£

£

£

Net cash

Cash at bank and in hand

1,792,463

1,296,542

3,089,005

1,792,463

1,296,542

3,089,005

Debt

Debts falling due within 1 year

(256,000

)

(86,000

)

(342,000

)

Debts falling due after 1 year

(30,000

)

(1,770,000

)

(1,800,000

)

(286,000

)

(1,856,000

)

(2,142,000

)

Total

1,506,463

(559,458

)

947,005