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REGISTERED NUMBER: 10191669 (England and Wales)

| REPORT OF THE DIRECTOR AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED |

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Report of the Director | 2 |

| Report of the Independent Auditors | 3 |

| Income Statement | 6 |

| Balance Sheet | 7 |

| Notes to the Financial Statements | 8 |

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED |

COMPANY INFORMATION

for the Year Ended 31 DECEMBER 2024

| DIRECTOR: | Mr NJ Edwell

| REGISTERED OFFICE: | Unit 3 Trade City Watford

| Wiggenhall Road

| Watford

| Hertfordshire

| WD18 0EZ

| REGISTERED NUMBER: | 10191669 (England and Wales)

| AUDITORS: | FKCA Limited

| Statutory Auditor

| 260 - 270 Butterfield

| Great Marlings

| Luton

| Bedfordshire

| LU2 8DL

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

REPORT OF THE DIRECTOR

for the Year Ended 31 DECEMBER 2024

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the wholesale of electronic and telecommunications equipment.

DIRECTOR

Mr NJ Edwell held office during the whole of the period from 1 January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 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 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 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he 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 company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr NJ Edwell - Director

16 September 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RAPID ELECTRICAL DISTRIBUTORS (WATFORD)

LIMITED

Opinion

We have audited the financial statements of Rapid Electrical Distributors (Watford) Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and 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 company's affairs as at 31 December 2024 and of its 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 company 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 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 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.

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, 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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Director has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RAPID ELECTRICAL DISTRIBUTORS (WATFORD)

LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

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, or returns adequate for our audit have not been received from branches not visited by us; or

- | the 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; or

- | the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page two, 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 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 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 company or to cease operations, or has 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

- |  | enquiry of management and those charged with governance around actual and potential litigation and claims; |

- |  | enquiry of entity staff and the board of directors to identify any instances of non-compliance with laws and regulations; and |

- |  | reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. |

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RAPID ELECTRICAL DISTRIBUTORS (WATFORD)

LIMITED

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of sales;

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

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

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

- Tested journal entries to identify unusual transactions;

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

- Investigated the rationale behind significant or unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tara Aldwin ACA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

19 September 2025

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

INCOME STATEMENT

for the Year Ended 31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

TURNOVER | 6,416,212 |  | 5,550,160 |  |

Cost of sales | 5,318,668 |  | 4,538,436 |  |

GROSS PROFIT | 1,097,544 |  | 1,011,724 |  |

Administrative expenses | 1,014,991 |  | 838,930 |  |

OPERATING PROFIT | 4 | 82,553 |  | 172,794 |  |

Interest payable and similar expenses | 77,433 |  | 70,144 |  |

PROFIT BEFORE TAXATION | 5,120 |  | 102,650 |  |

Tax on profit | 3,414 |  | 25,690 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,706 |  | 76,960 |  |

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 5 | 4,339 |  | 11,778 |  |

Tangible assets | 6 | 35,776 |  | 64,356 |  |

40,115 |  | 76,134 |  |

CURRENT ASSETS

Stocks | 7 | 532,987 |  | 612,986 |  |

Debtors | 8 | 1,371,022 |  | 1,548,046 |  |

Cash at bank | 184,245 |  | 478,761 |  |

2,088,254 |  | 2,639,793 |  |

CREDITORS

Amounts falling due within one year | 9 | 2,121,916 |  | 2,678,279 |  |

NET CURRENT LIABILITIES | (33,662 | ) | (38,486 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,453 |  | 37,648 |  |

CREDITORS

Amounts falling due after more than one year | 10 | - |  | (26,875 | ) |

PROVISIONS FOR LIABILITIES | (3,848 | ) | (9,874 | ) |

NET ASSETS | 2,605 |  | 899 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 102 |  | 102 |  |

Retained earnings | 2,503 |  | 797 |  |

SHAREHOLDERS' FUNDS | 2,605 |  | 899 |  |

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

The financial statements were approved by the director and authorised for issue on 16 September 2025 and were signed by:

Mr NJ Edwell - Director

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Rapid Electrical Distributors (Watford) Limited 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

| Accounting convention

| These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

| The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

| After reviewing the company’s forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months following the signing of the accounts.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions (Rapid Electrical Distributors Limited) with wholly owned subsidiaries within the group.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Intangible fixed assets - goodwill

| Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

| For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of carrying amount of each assets in the unit.

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Plant and machinery |  | 20% straight line |  |

| Motor vehicles |  | 20% reducing balance |  |

| Computer equipment |  | 25% straight line |  |

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

| 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 has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Taxation

| Current tax

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

| Deferred tax

| Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

| The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Foreign exchange

| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

| Retirement benefits

| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 13 (2023 - 12 ) .

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2024 |  | 2023

£ | £ |

| Depreciation - owned assets | 30,443 |  | 45,768 |  |

| Goodwill amortisation | 7,439 |  | 7,438 |  |

| Auditors' remuneration | 7,900 |  | 12,350 |  |

5. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 74,384 |  |

| AMORTISATION

| At 1 January 2024 | 62,606 |  |

| Charge for year | 7,439 |  |

| At 31 December 2024 | 70,045 |  |

| NET BOOK VALUE

| At 31 December 2024 | 4,339 |  |

| At 31 December 2023 | 11,778 |  |

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2024

6. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Motor |  | Computer |

| property |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 171,291 |  | 11,668 |  | 131,286 |  | 314,245 |  |

| Additions | 1,100 |  | - |  | 763 |  | 1,863 |  |

| At 31 December 2024 | 172,391 |  | 11,668 |  | 132,049 |  | 316,108 |  |

| DEPRECIATION

| At 1 January 2024 | 126,976 |  | 6,314 |  | 116,599 |  | 249,889 |  |

| Charge for year | 23,882 |  | 1,071 |  | 5,490 |  | 30,443 |  |

| At 31 December 2024 | 150,858 |  | 7,385 |  | 122,089 |  | 280,332 |  |

| NET BOOK VALUE

| At 31 December 2024 | 21,533 |  | 4,283 |  | 9,960 |  | 35,776 |  |

| At 31 December 2023 | 44,315 |  | 5,354 |  | 14,687 |  | 64,356 |  |

7. | STOCKS

2024 | 2023 |

£ | £ |

| Stocks | 532,987 |  | 612,986 |  |

| Stocks are stated after provisions for slow movement and obsolescence of £11,062 (2023: £nil).

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

2024 | 2023 |

£ | £ |

| Trade debtors | 1,169,962 |  | 1,289,922 |  |

| Other debtors | 201,060 |  | 258,124 |  |

1,371,022 |  | 1,548,046 |  |

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

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 26,875 |  | 53,750 |  |

| Trade creditors | 961,772 |  | 1,175,147 |  |

| Amounts owed to group undertakings | 85,250 |  | 307,141 |  |

| Corporation tax | 9,440 |  | 33,456 |  |

| Taxation and social security | 62,552 |  | 22,230 |  |

| Other creditors | 973,027 |  | 1,083,555 |  |

| Accrued expenses | 3,000 |  | 3,000 |  |

2,121,916 |  | 2,678,279 |  |

| Amounts owed to group undertakings are interest free and repayable on demand.

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2024

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

2024 | 2023 |

£ | £ |

| Bank loans | - |  | 26,875 |  |

11. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 | 2023 |

£ | £ |

| Within one year | 72,245 |  | 72,245 |  |

| Between one and five years | 288,980 |  | 288,980 |  |

| In more than five years | - |  | 72,245 |  |

361,225 |  | 433,470 |  |

| Operating lease payments represent rentals payable by the company for property..

12. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Bank loans | 26,875 |  | 80,625 |  |

| Factoring account | 973,027 |  | 1,083,555 |  |

999,902 |  | 1,164,180 |  |

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

| 1 | Ordinary A | £1 | 1 |  | 1 |  |

| 1 | Ordinary B | £1 | 1 |  | 1 |  |

102 |  | 102 |  |

14. | OTHER FINANCIAL COMMITMENTS

| The company is in a Composite Company Unlimited Multilateral Guarantee with HSBC bank that includes each trading company Rapid Renewables Limited, Rapid Electrical Distributors (Watford) and Rapid Electrical Distributors Limited.

| RAPID ELECTRICAL DISTRIBUTORS (WATFORD) |

| LIMITED (REGISTERED NUMBER: 10191669) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2024

15. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 | 2023 |

£ | £ |

| Mr NJ Edwell

| Balance outstanding at start of year | - |  | 15,000 |  |

| Amounts repaid | - |  | (15,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

| The loan to the director is interest free and repayable on demand.

16. | RELATED PARTY DISCLOSURES

| Information about related party transactions and outstanding balances is outlined below:

| Aggregated transactions with related parties in group

|  | Amount owed by related parties |  | Amounts owed to related parties |  |

| £ |  | £ |  |

| Year ended 31 December 2024 |  |  | 75,866 |  | 123,470 |  |

| Year ended 31 December 2023 |  |  | 34,063 |  | 644,544 |  |

| Aggregated transactions with related parties with common key management personnel

|  | Sales |  | Purchases |  | Amount owed by related parties |  | Amounts owed to related parties |  |

| £ |  | £ |  | £ |  | £ |  |

| Year ended 31 December 2024 |  | 109,204 |  | 26,118 |  | 29,513 |  | 9,823 |  |

| Year ended 31 December 2023 |  | 47,090 |  | 46,231 |  | 1,029 |  | 5,054 |  |

| The above balances outstanding at the year end are trading balances and therefore are subject to the terms set out on the particular invoices raised.

17. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Mr NJ Edwell.

| The parent company is Rapid Electrical Distributors Limited.

| Rapid Electrical Distributors Holdings Limited prepares the consolidated financial statements for the group. Copies of the consolidated financial statements for the year can be obtained from St Ann's Quay, 118 Quayside, Newcastle Upon Tyne, United Kingdom, NE1 3BD