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Registration number: 02028529

Unilite Limited
Filleted Financial Statements
for the Year Ended 31 December 2024

Unilite Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 8

Unilite Limited

Company Information

Directors | MJ Hill BA Hindle RC Waters

Company secretary | J J M P Grainger

Registered office | Aspen Building Apex Way Hailsham BN27 3WA

Auditors | Ballards LLP Chartered Accountants Oakmoore Court 11C Kingswood Road Hampton Lovett Droitwich Worcestershire WR9 0QH

Unilite Limited

(Registration number: 02028529)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 4 | - | 1,385
Tangible assets | 5 | 184,949 | 290,260
|  | 184,949 | 291,645
Current assets |  |  |
Stocks | 6 | 2,559,630 | 2,123,183
Debtors | 7 | 1,102,785 | 1,164,591
Cash at bank and in hand |  | 894,589 | 385,459
|  | 4,557,004 | 3,673,233
Creditors: Amounts falling due within one year | 8 | (1,629,344) | (1,851,748)
Net current assets |  | 2,927,660 | 1,821,485
Total assets less current liabilities |  | 3,112,609 | 2,113,130
Provisions for liabilities |  | (15,612) | (72,566)
Net assets |  | 3,096,997 | 2,040,564
Capital and reserves |  |  |
Called up share capital |  | 25,000 | 25,000
Retained earnings |  | 3,071,997 | 2,015,564
Shareholders' funds |  | 3,096,997 | 2,040,564

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2025 and signed on its behalf by:

RC Waters Director |  |

Unilite Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Aspen Building
Apex Way
Hailsham
BN27 3WA
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Audit report
The Independent Auditors’ Report was unqualified. The name of the Senior Statutory Statutory Auditor who signed the audit report on 11 October 2025 was James Syree BSc FCA, who signed for and on behalf of Ballards LLP.

Unilite Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Judgements

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the
date of the transaction. Monetary assets and liabilities denominated in foreign currencies are
retranslated into the respective functional currency of the entity at the rates prevailing on the reporting
period date. Non-monetary items carried at fair value that are denominated in foreign currencies are
retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Unilite Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures and fittings | 15-33% straight line per annum
Motor vehicles | Over lease term
Plant and machinery | 20% straight line per annum
Mould cost | 33.3% straight line per annum

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
E-Commerce website | 20% on straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of costs incurred in bringing each product to its present location and condition and their net realisable value.
Raw materials, consumables and good for resale - average cost basis
Work in progress and finished goods - costs of direct materials and labour plus attributable overheads based on a normal level of activity
Net realisable value is based on an estimated selling price less any further costs expected to be incurred for completion and disposal.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Unilite Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2023 - 24).

4 | Intangible assets

| E-Commerce website £ | Total £
Cost or valuation
At 1 January 2024 | 27,700 | 27,700
At 31 December 2024 | 27,700 | 27,700
Amortisation
At 1 January 2024 | 26,315 | 26,315
Amortisation charge | 1,385 | 1,385
At 31 December 2024 | 27,700 | 27,700
Carrying amount
At 31 December 2024 | - | -
At 31 December 2023 | 1,385 | 1,385

Unilite Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5 | Tangible assets

| Assets under construction £ | Furniture, fittings and equipment £ | Motor vehicles £ | Mould cost £ | Property, plant and equipment £ | Total £
Cost or valuation
At 1 January 2024 | - | 335,088 | 95,004 | 85,000 | 74,888 | 589,980
Additions | 17,582 | 26,132 | - | - | 629 | 44,343
Disposals | - | (27,418) | - | - | (16,540) | (43,958)
At 31 December 2024 | 17,582 | 333,802 | 95,004 | 85,000 | 58,977 | 590,365
Depreciation
At 1 January 2024 | - | 179,809 | 54,894 | 16,528 | 48,489 | 299,720
Charge for the year | - | 98,470 | 27,215 | 17,000 | 6,971 | 149,656
Eliminated on disposal | - | (27,419) | - | - | (16,541) | (43,960)
At 31 December 2024 | - | 250,860 | 82,109 | 33,528 | 38,919 | 405,416
Carrying amount
At 31 December 2024 | 17,582 | 82,942 | 12,895 | 51,472 | 20,058 | 184,949
At 31 December 2023 | - | 155,279 | 40,110 | 68,472 | 26,399 | 290,260

Unilite Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6 | Stocks

| 2024 £ | 2023 £
Stock | 2,559,630 | 2,123,183

7 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 956,422 | 1,036,169
Prepayments | 145,205 | 128,422
Other debtors | 1,158 | -
| 1,102,785 | 1,164,591

8 | Creditors

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Trade creditors |  | 131,718 | 95,869
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 9 | 1,035,921 | 1,092,442
Taxation and social security |  | 72,666 | 323,506
Accruals and deferred income |  | 389,039 | 339,881
Other creditors |  | - | 50
|  | 1,629,344 | 1,851,748

9 | Related party transactions

The company has taken advantage of the exemption in FRS 102 Section 33.1A from disclosing transactions with other wholly-owned members of the group.

10 | Post balance sheet events

On 22 May 2025, management and Inflexion Continuation I Investments LP acquired the Group through a continuation vehicle. As part of this transaction, Eagle Holdco Limited, a company incorporated in Guernsey, acquired 100% of the equity in Rocky Topco Limited, the ultimate holding company of the Group. Consequently, the directors consider the Company to remain under the control of funds advised by Inflexion Private Equity Partners.