REGISTERED NUMBER: 12341092 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

C.A.S.C. HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Statement of Financial Position

12

Company Statement of Financial Position

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Statement of Cash Flows

16

Notes to the Consolidated Statement of Cash Flows

17

Notes to the Consolidated Financial Statements

19

DIRECTORS:

S P Jackson

A L Jackson

REGISTERED OFFICE:

Douglas Bank House

Wigan Lane

Wigan

WN1 2TB

REGISTERED NUMBER:

12341092 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

Lloyds Bank Plc

Market Street

Wigan

WN1 1JN

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The principal activity of the Group is the supply of electrical products and lighting design. The Group's strategy is to achieve long term sustained and profitable growth while also providing an environment for our staff to develop and grow their experience and careers within the business.

The Group had another successful year with turnover exceeding £16m for a third year in succession.

The Group has built on its relationships with suppliers after becoming a member of the Associated Independent Electrical Wholesalers buying group. This relationship has improved the Group's buying power and trade terms which have contributed to the improvement in GP% compared to last year.

During the year the Group has invested a substantial amount of time and resources improving the infrastructure, administration and sales as well as developing relationships in new market sectors. We are grateful to our staff, customers and suppliers for their continued loyalty and support throughout 2023 and look forward to building and strengthening these relationships in 2024.

Financial key performance indicators

2024

2023

£

£

Turnover

16,560,424

16,221,453

Gross profit

4,369,278

4,157,749

Gross profit %

26.38%

25.63%

EBITDA

400,904

533,800

Cash at Bank and Cash equivalents

190,769

149,989

Operational review

The Board are pleased to report that in 2024, sales and gross profit have increased from the previous year and report a healthy profit for the year.

Our plans for the future continue to be the investment in our staff, IT, and internal processes. We also aim to strengthen our presence in existing and new markets and develop the services we can offer our customers.

Our people

The success of any business is due to the quality and leadership of its team members. Our staff continue to demonstrate great loyalty, commitment drive and skills and our colleagues are key to the Company and its continued success.

Sales and competition

The directors review sales and forecasts on a daily basis. The company maintains a good order book and a considerable amount of efforts are put in to maintain customer activities.

Intense competition continues between regional firms who operate with exceptionally low margins, driving down gross margins and financial returns.

PRINCIPAL RISKS AND UNCERTAINTIES

The following are the principal risk factors, which could materially impact the Group's future operating profits or financial position. The Group has embedded systems and controls to monitor and actively manage each of these potential exposures with regular reviews and proactive management of these risks.

Supplier costs and risks

Significant changes in supplier terms leading to price increases in raw materials and supply chain difficulties due to world economic issues.

Import carriage charges have increased as a result of global events, which have also contributed to additional delays receiving goods causing a disruption in the supply chain.

Credit risk

Appropriate credit checks are undertaken on all potential customers before liabilities are incurred. Individual exposures are monitored on an ongoing basis to ensure bad debts are minimised.

A credit insurance policy is in place to further reduce risk of material bad debts.

Liquidity risk

Senior Management monitors cash flow constantly to ensure sufficient funds are available for all requirements.

ON BEHALF OF THE BOARD:

S P Jackson - Director

29 September 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of suppliers of electrical products and lighting design.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 was £1,000 (2023 - £4,000).

DIRECTORS

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

S P Jackson

A L Jackson

CHARITABLE DONATIONS AND EXPENDITURE

Donations of £3,715 (2023 - £1,297) have been made by the company during the year.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

S P Jackson - Director

29 September 2025

Opinion

We have audited the financial statements of C.A.S.C. Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other 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 31 December 2024 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 four, 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:

- we identified the laws and regulations applicable to the group and company through discussions with directors and other

management, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on it's operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, employment legislation, Health and Safety and hygiene regulations.

- we enquired of the directors and reviewed correspondence with HMRC for evidence of non-compliance with laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

We assessed the susceptibility of the group's and company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of

actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

- 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.

- we reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above;

- we enquired of the directors about actual and potential litigation and claims.

Due to inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material

misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

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.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

29 September 2025

TURNOVER

3

16,560,424

16,221,453

Cost of sales

12,191,146

12,063,704

GROSS PROFIT

4,369,278

4,157,749

Administrative expenses

4,211,302

3,844,517

157,976

313,232

Other operating income

12,000

12,000

OPERATING PROFIT

5

169,976

325,232

Interest payable and similar expenses

6

21,675

28,882

PROFIT BEFORE TAXATION

148,301

296,350

Tax on profit

7

72,298

108,628

PROFIT FOR THE FINANCIAL YEAR

76,003

187,722

Profit attributable to:

Owners of the parent

76,003

187,722

PROFIT FOR THE YEAR

76,003

187,722

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

76,003

187,722

Total comprehensive income attributable to:

Owners of the parent

76,003

187,722

FIXED ASSETS

Intangible assets

10

840,400

986,692

Tangible assets

11

488,886

440,111

Investments

12

-

-

Investment property

13

-

225,131

1,329,286

1,651,934

CURRENT ASSETS

Stocks

14

1,523,275

1,353,198

Debtors

15

3,792,854

4,243,057

Cash at bank and in hand

190,769

149,989

5,506,898

5,746,244

CREDITORS

Amounts falling due within one year

16

4,060,811

4,586,123

NET CURRENT ASSETS

1,446,087

1,160,121

TOTAL ASSETS LESS CURRENT LIABILITIES

2,775,373

2,812,055

CREDITORS

Amounts falling due after more than one year

17

(102,856

)

(202,546

)

PROVISIONS FOR LIABILITIES

21

(90,149

)

(102,144

)

NET ASSETS

2,582,368

2,507,365

CAPITAL AND RESERVES

Called up share capital

22

100

100

Retained earnings

23

2,582,268

2,507,265

SHAREHOLDERS' FUNDS

2,582,368

2,507,365

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S P Jackson - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

-

-

Investments

12

1,068,580

1,068,580

Investment property

13

-

-

1,068,580

1,068,580

CURRENT ASSETS

Debtors

15

10,100

100

CREDITORS

Amounts falling due within one year

16

1,078,580

1,068,580

NET CURRENT LIABILITIES

(1,068,480

)

(1,068,480

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

100

CAPITAL AND RESERVES

Called up share capital

22

100

100

SHAREHOLDERS' FUNDS

100

100

Company's profit for the financial year

1,000

4,000

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S P Jackson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

2,323,543

2,323,643

Changes in equity

Dividends

-

(4,000

)

(4,000

)

Total comprehensive income

-

187,722

187,722

Balance at 31 December 2023

100

2,507,265

2,507,365

Changes in equity

Dividends

-

(1,000

)

(1,000

)

Total comprehensive income

-

76,003

76,003

Balance at 31 December 2024

100

2,582,268

2,582,368

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

-

100

Changes in equity

Dividends

-

(4,000

)

(4,000

)

Total comprehensive income

-

4,000

4,000

Balance at 31 December 2023

100

-

100

Changes in equity

Dividends

-

(1,000

)

(1,000

)

Total comprehensive income

-

1,000

1,000

Balance at 31 December 2024

100

-

100

Cash flows from operating activities

Cash generated from operations

1

181,585

184,319

Interest paid

(21,675

)

(26,112

)

Interest element of hire purchase payments paid

-

(2,770

)

Tax paid

(171,363

)

(56,182

)

Net cash from operating activities

(11,453

)

99,255

Cash flows from investing activities

Purchase of intangible fixed assets

-

(5,370

)

Purchase of tangible fixed assets

(133,411

)

(178,254

)

Purchase of investment property

(4,631

)

(16,740

)

Sale of tangible fixed assets

1,701

9,300

Sale of investment property

200,059

-

Net cash from investing activities

63,718

(191,064

)

Cash flows from financing activities

Loan repayments in year

(80,000

)

(80,000

)

Capital repayments in year

(19,849

)

(72,129

)

Amount introduced by directors

132,927

24,000

Amount withdrawn by directors

(63,950

)

(39,875

)

Equity dividends paid

(1,000

)

(4,000

)

Net cash from financing activities

(31,872

)

(172,004

)

Increase/(decrease) in cash and cash equivalents

20,393

(263,813

)

Cash and cash equivalents at beginning of year

2

149,989

413,802

Cash and cash equivalents at end of year

2

170,382

149,989

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

148,301

296,350

Depreciation charges

230,928

208,568

Loss/(profit) on disposal of fixed assets

28,002

(300

)

Finance costs

21,675

28,882

428,906

533,500

(Increase)/decrease in stocks

(170,077

)

91,423

Decrease/(increase) in trade and other debtors

388,316

(353,208

)

Decrease in trade and other creditors

(465,560

)

(87,396

)

Cash generated from operations

181,585

184,319

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 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

190,769

149,989

Bank overdrafts

(20,387

)

-

170,382

149,989

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

149,989

413,802

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank and in hand

149,989

40,780

190,769

Bank overdrafts

-

(20,387

)

(20,387

)

149,989

20,393

170,382

Debt

Finance leases

(63,166

)

19,849

(43,317

)

Debts falling due within 1 year

(80,000

)

-

(80,000

)

Debts falling due after 1 year

(160,000

)

80,000

(80,000

)

(303,166

)

99,849

(203,317

)

Total

(153,177

)

120,242

(32,935

)

1.	STATUTORY INFORMATION

C.A.S.C. Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The group financial statements consolidate the financial statements of C.A.S.C. (Holdings) Limited and its subsidiary undertakings for the year to 31 December 2024.

Profits arising from intra-group transactions are eliminated in full. On acquisition of a subsidiary its assets and

liabilities at the date of acquisition are recorded at their fair value reflecting their condition at that date.

The consolidated financial statements include the results of the activities described in the Strategic Report.

The parent company acts as a holding company for its subsidiaries E.E.D. (Holdings) Limited and Express Electrical Distributors Limited.

The company has taken advantage of the exemption given in section 408 of the Companies Act 2006 not to produce its own profit and loss account and has also adopted the disclosure exemption to present a statement of cash flows and related notes.

Significant judgements and estimates

Judgements and key source of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Judgements

a) Investment property

The carrying value of investment property has been assessed by the directors, taking into account current market conditions.

b) Useful economic lives

The useful economic lives of tangible and intangible fixed assets are assessed on an annual basis on the latest available information. Management believe that the useful economic lives being used currently are still

appropriate.

Turnover

Turnover represents amounts recognised by the group in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of electrical products, which are recognised at the point of which the goods are provided. Turnover also consists of management charges receivable from an associated company, which is invoiced monthly.

Goodwill

Goodwill on consolidation, being the amount paid in connection with the acquisition of E.E.D. (Holdings) Limited, is being amortised over its estimated useful life of ten years.

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.

Fixed asset investments

In the individual company accounts investments in subsidiaries are initially measured at cost. After initial

recognition, fixed asset investments are measured at cost less any accumulated impairment losses.

Intangible assets

Amortisation on intangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following method:

Computer software - 20% on cost

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and any impairment.

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter:

Improvements to property

5% - 10% on cost

Motor vehicles

15% - 25% on cost

Fixtures and fittings

10% - 20% on cost

Investment property

Investment property is included at fair value. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.