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REGISTERED NUMBER: 03180559 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Intelisys Ltd

| Intelisys Ltd (Registered number: 03180559) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Intelisys Ltd |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | S Boult

| V J Ewan

| REGISTERED OFFICE: | Bramley Beck, Blawith

| Ulverston

| Cumbria

| LA12 8EL

| REGISTERED NUMBER: | 03180559 (England and Wales)

| ACCOUNTANTS: | Morley & Co (UK) Ltd

| Chartered Certified Accountants,

| 2 Cricklade Court

| Old Town

| Swindon

| Wiltshire

| SN1 3EY

| Intelisys Ltd (Registered number: 03180559) |

Balance Sheet

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 488,373 |  | 461,140 |  |

Tangible assets | 5 | 1,236 |  | 20,965 |  |

Investments | 6 | 284 |  | 284 |  |

489,893 |  | 482,389 |  |

CURRENT ASSETS

Stocks | 234,867 |  | 250,484 |  |

Debtors | 7 | 166,548 |  | 295,064 |  |

Cash at bank | 40,035 |  | 41,101 |  |

441,450 |  | 586,649 |  |

CREDITORS

Amounts falling due within one year | 8 | 246,580 |  | 315,271 |  |

NET CURRENT ASSETS | 194,870 |  | 271,378 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 684,763 |  | 753,767 |  |

CREDITORS

Amounts falling due after more than one year | 9 | 85,561 |  | 94,085 |  |

NET ASSETS | 599,202 |  | 659,682 |  |

| Intelisys Ltd (Registered number: 03180559) |

Balance Sheet - continued

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 1,894 |  | 1,894 |  |

Share Premium | 48,121 |  | 48,121 |  |

Retained earnings | 549,187 |  | 609,667 |  |

SHAREHOLDERS' FUNDS | 599,202 |  | 659,682 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

V J Ewan - Director

| Intelisys Ltd (Registered number: 03180559) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Intelisys Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

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

| Intellectual property rights & trademarks

| Amortisation is provided over the expected useful economic life of 10 years.

| Patents & licences

| Amortisation is provided over the expected useful economic life of 15 years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Website | - | 15% on cost

| Plant and machinery | - | 15% on cost

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 20% on cost

| Computer equipment | - | 33% on cost

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Financial instruments

| Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

| Intelisys Ltd (Registered number: 03180559) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Research & development / grants

| External and internal costs relating to specific products developed, which have ongoing commercial benefit to the company and which are capable of sale to third parties, are capitalised and written off over the expected useful life of the asset (normally 10 years) in accordance with FRS 102 Section 18.

| Government grants, in accordance with FRS 102 Section 24, are treated as deferred income and credited to the profit and loss account over the expected useful life of the asset.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

| Intelisys Ltd (Registered number: 03180559) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | INTANGIBLE FIXED ASSETS

| Patents |

| Trade |  | and |  | Development |

| Marks |  | licences |  | costs |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 20,083 |  | 247,370 |  | 1,197,225 |  | 1,464,678 |  |

| Additions | - |  | - |  | 109,977 |  | 109,977 |  |

| Disposals | - |  | - |  | (833 | ) | (833 | ) |

| At 31 March 2025 | 20,083 |  | 247,370 |  | 1,306,369 |  | 1,573,822 |  |

| AMORTISATION

| At 1 April 2024 | 20,083 |  | 203,009 |  | 780,446 |  | 1,003,538 |  |

| Amortisation for year | - |  | 13,330 |  | 68,644 |  | 81,974 |  |

| Eliminated on disposal | - |  | - |  | (63 | ) | (63 | ) |

| At 31 March 2025 | 20,083 |  | 216,339 |  | 849,027 |  | 1,085,449 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 31,031 |  | 457,342 |  | 488,373 |  |

| At 31 March 2024 | - |  | 44,361 |  | 416,779 |  | 461,140 |  |

| Development costs and Intellectual Property Rights are amortised over a period of 10 years.

5. | TANGIBLE FIXED ASSETS

| Fixtures

| Plant and |  | and

| Website |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 April 2024 | 2,650 |  | 10,112 |  | 4,830 |  |

| Additions | - |  | 525 |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 31 March 2025 | 2,650 |  | 10,637 |  | 4,830 |  |

| DEPRECIATION

| At 1 April 2024 | 2,650 |  | 10,112 |  | 4,830 |  |

| Charge for year | - |  | 14 |  | - |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 March 2025 | 2,650 |  | 10,126 |  | 4,830 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 511 |  | - |  |

| At 31 March 2024 | - |  | - |  | - |  |

| Intelisys Ltd (Registered number: 03180559) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 36,268 |  | 17,827 |  | 71,687 |  |

| Additions | - |  | - |  | 525 |  |

| Disposals | (34,345 | ) | - |  | (34,345 | ) |

| At 31 March 2025 | 1,923 |  | 17,827 |  | 37,867 |  |

| DEPRECIATION

| At 1 April 2024 | 16,229 |  | 16,901 |  | 50,722 |  |

| Charge for year | 385 |  | 393 |  | 792 |  |

| Eliminated on disposal | (14,883 | ) | - |  | (14,883 | ) |

| At 31 March 2025 | 1,731 |  | 17,294 |  | 36,631 |  |

| NET BOOK VALUE

| At 31 March 2025 | 192 |  | 533 |  | 1,236 |  |

| At 31 March 2024 | 20,039 |  | 926 |  | 20,965 |  |

6. | FIXED ASSET INVESTMENTS

| Interest

| in other

| participating

| interests

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 284 |  |

| NET BOOK VALUE

| At 31 March 2025 | 284 |  |

| At 31 March 2024 | 284 |  |

7. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 5,239 |  | 150,895 |  |

| Tax | 13,754 |  | - |  |

| VAT | 9,913 |  | 4,777 |  |

28,906 |  | 155,672 |  |

| Intelisys Ltd (Registered number: 03180559) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | DEBTORS - continued

2025 | 2024 |

£ | £ |

| Amounts falling due after more than one year:

| Deferred tax asset | 137,642 |  | 139,392 |  |

| Aggregate amounts | 166,548 |  | 295,064 |  |

| DEFERRED TAX ASSET

| At the balance sheet date taxable losses available to set-off against future trading profits amount to £553,855. This is subject to the agreement of the current Corporation Tax Computations with HM Revenue & Customs.

| Based upon the forecast profitability of the company, it is expected that the tax losses available to the company to carry forward will be utilised in the near future to reduce current taxation. Accordingly a deferred tax asset has been recognised.

| £ |  |

| The company expects to carry forward the £553,855 balance of the tax losses and offset them against future profits at the current 25% rate of Corporation Tax |  | 138,464 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 29,006 |  | 30,602 |  |

| Hire purchase contracts | - |  | 22,947 |  |

| Trade creditors | 58,299 |  | 69,753 |  |

| Other creditors | 13,256 |  | 5,890 |  |

| Directors' current accounts | 140,919 |  | 181,084 |  |

| Accrued expenses | 5,100 |  | 4,995 |  |

246,580 |  | 315,271 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | 19,961 |  | 27,958 |  |

| Bank loans - 2-5 years | 36,667 |  | 56,628 |  |

| Hire purchase contracts | - |  | 566 |  |

| Other creditors | 28,933 |  | 8,933 |  |

85,561 |  | 94,085 |  |

| Intelisys Ltd (Registered number: 03180559) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | RELATED PARTY DISCLOSURES

| At 31 March 2025, the Directors were owed by the company £140,919 (2024: £181,084). These amounts were loaned interest free and repayable on demand.

11. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of Intelisys Products Ltd (Company registration number 9633658).