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REGISTERED NUMBER: NI062433 (Northern Ireland)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| ECI LIGHTING (NI) LIMITED |

ECI LIGHTING (NI) LIMITED (REGISTERED NUMBER: NI062433)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

| Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |  | to |  | 7

ECI LIGHTING (NI) LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | G Dwyer

| D Hanratty

| SECRETARY: | G Dwyer

| REGISTERED OFFICE: | 3 Duncrue Industrial Park

| Duncrue Road

| Belfast

| BT3 9BP

| REGISTERED NUMBER: | NI062433 (Northern Ireland)

| AUDITORS: | Baker Tilly Mooney Moore

| Statutory Auditors

| 17 Clarendon Road

| Belfast

| BT1 3BG

| BANKERS: | Bank of Ireland

| 7 Townhall Street

| Enniskillen

| Co. Fermanagh

| BT74 7DB

ECI LIGHTING (NI) LIMITED (REGISTERED NUMBER: NI062433)

BALANCE SHEET

31 DECEMBER 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 8,973 |  | 16,869 |  |

CURRENT ASSETS

Stocks | 6 | 271,878 |  | 308,077 |  |

Debtors | 7 | 353,261 |  | 266,302 |  |

Cash at bank and in hand | 22,768 |  | 53,306 |  |

647,907 |  | 627,685 |  |

CREDITORS

Amounts falling due within one year | 8 | 182,621 |  | 181,571 |  |

NET CURRENT ASSETS | 465,286 |  | 446,114 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 474,259 |  | 462,983 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (1,646 | ) | (3,509 | ) |

PROVISIONS FOR LIABILITIES | (2,015 | ) | (3,860 | ) |

NET ASSETS | 470,598 |  | 455,614 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 1 |  | 1 |  |

Retained earnings | 470,597 |  | 455,613 |  |

SHAREHOLDERS' FUNDS | 470,598 |  | 455,614 |  |

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 Income Statement has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

G Dwyer - Director

D Hanratty - Director

ECI LIGHTING (NI) LIMITED (REGISTERED NUMBER: NI062433)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| ECI Lighting (NI) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Significant judgements and estimates

| Recoverability of Debtors

| Estimates are made in respect of the recoverable value of trade debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.

| Carrying value of stock

| Stock represents goods for resale and is valued at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. Provisions are made for obsolete and slow moving stock based on current and historical trading experience.

| Turnover

| Turnover comprises the value of sales to customers of goods in the normal course of business excluding VAT and trade discounts. Turnover is recognised in the period in which the goods are delivered to the customers.

| Tangible fixed assets

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

| Improvements to property | - | 20% on cost

| Fixtures, fittings & equipment | - | 25% on reducing balance

| Motor vehicles | - | 20% on cost

| Computer equipment | - | 25% on cost and 20% on reducing balance

| Stocks

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

| Financial instruments

| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement.

ECI LIGHTING (NI) LIMITED (REGISTERED NUMBER: NI062433)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Operating leasing commitments

| Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

| Lease incentives

| The benefits of lease incentives are recognised in profit and loss account over the lease period.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Impairment of fixed assets

| Fixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. Fixed assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 6 (2023 - 6 ) .

ECI LIGHTING (NI) LIMITED (REGISTERED NUMBER: NI062433)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

4. | AUDITORS' REMUNERATION

| 31.12.24 |  | 31.12.23

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 7,200 |  | 6,500 |  |

| All other services | 943 |  | 3,313 |  |

5. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures, |

| to |  | fittings |  | Motor |  | Computer |

| property |  | & equipment |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2024 |

| and 31 December 2024 | 28,658 |  | 30,598 |  | 25,450 |  | 27,166 |  | 111,872 |  |

| DEPRECIATION

| At 1 January 2024 | 27,228 |  | 26,183 |  | 20,360 |  | 21,232 |  | 95,003 |  |

| Charge for year | 516 |  | 1,104 |  | 5,088 |  | 1,188 |  | 7,896 |  |

| At 31 December 2024 | 27,744 |  | 27,287 |  | 25,448 |  | 22,420 |  | 102,899 |  |

| NET BOOK VALUE

| At 31 December 2024 | 914 |  | 3,311 |  | 2 |  | 4,746 |  | 8,973 |  |

| At 31 December 2023 | 1,430 |  | 4,415 |  | 5,090 |  | 5,934 |  | 16,869 |  |

6. | STOCKS

| 31.12.24 |  | 31.12.23

£ | £ |

| Stocks | 271,878 |  | 308,077 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 207,081 |  | 245,181 |  |

| Amounts owed by group undertakings | 131,973 |  | 8,816 |  |

| Other debtors | 14,207 |  | 12,305 |  |

353,261 |  | 266,302 |  |

ECI LIGHTING (NI) LIMITED (REGISTERED NUMBER: NI062433)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

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

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans and overdrafts | 84,909 |  | 1,564 |  |

| Hire purchase contracts (see note 10) | - |  | 475 |  |

| Trade creditors | 29,610 |  | 42,769 |  |

| Amounts owed to group undertakings | - |  | 12,186 |  |

| Taxation and social security | 46,305 |  | 90,631 |  |

| Other creditors | 21,797 |  | 33,946 |  |

182,621 |  | 181,571 |  |

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

| 31.12.24 |  | 31.12.23

£ | £ |

| Other creditors | 1,646 |  | 3,509 |  |

10. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31.12.24 |  | 31.12.23 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 475 |  |

| Non-cancellable |

| operating leases |

| 31.12.24 |  | 31.12.23

£ | £ |

| Within one year | 37,265 |  | 37,265 |  |

| Between one and five years | 32,607 |  | 69,872 |  |

69,872 |  | 107,137 |  |

ECI LIGHTING (NI) LIMITED (REGISTERED NUMBER: NI062433)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

11. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 31.12.23

£ | £ |

| Factoring account | 84,909 |  | 34,350 |  |

| The factoring account held with Bank of Ireland is secured by way of a standard Debt Purchase Agreement, restricted indemnities from Declan Hanratty and Gary Dwyer, and indemnity from Parent Company.

| In addition, facilities in the parent company ECI Lighting Limited are secured by a debenture over all assets, undertakings and liabilities of ECI Lighting (NI) Limited.

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Joanne Small (Senior Statutory Auditor)

| for and on behalf of Baker Tilly Mooney Moore

14. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of intermediate parent company ECI Lighting Limited. The ultimate parent company is Rylston Enterprises Limited, a company incorporated in the Republic of Ireland. The registered office address is Units 34 & 35, North Park, North Road Finglas Dublin 11.

| The ultimate controlling party is D Hanratty who is the majority shareholder of ultimate parent company Rylston Enterprises Limited.