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REGISTERED NUMBER: 04988642 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Plexstar Limited

| Plexstar Limited (Registered number: 04988642) |

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 |

| Plexstar Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | A M Baxter

| G D Froggatt

| SECRETARY: | G D Froggatt

| REGISTERED OFFICE: | Unit B Enterprise Court Seaman Way

| Ince

| Wigan

| WN2 2AG

| REGISTERED NUMBER: | 04988642 (England and Wales)

| ACCOUNTANTS: | Higsons Limited

| Accountants

| Offices 1 and 2

| 1A King Street

| Farnworth

| Bolton

| Greater Manchester

| BL4 7AB

| Plexstar Limited (Registered number: 04988642) |

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 16,597 |  | 22,317 |  |

Tangible assets | 5 | 45,087 |  | 61,926 |  |

61,684 |  | 84,243 |  |

CURRENT ASSETS

Stocks | 48,000 |  | 27,500 |  |

Debtors | 6 | 66,482 |  | 25,788 |  |

Cash at bank | 32 |  | 32 |  |

114,514 |  | 53,320 |  |

CREDITORS

Amounts falling due within one year | 7 | 209,337 |  | 678,162 |  |

NET CURRENT LIABILITIES | (94,823 | ) | (624,842 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (33,139 | ) | (540,599 | ) |

CREDITORS

Amounts falling due after more than one year | 8 | (440,873 | ) | - |  |

PROVISIONS FOR LIABILITIES | (14,185 | ) | (13,171 | ) |

NET LIABILITIES | (488,197 | ) | (553,770 | ) |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Retained earnings | (489,197 | ) | (554,770 | ) |

(488,197 | ) | (553,770 | ) |

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.

| Plexstar Limited (Registered number: 04988642) |

Balance Sheet - continued

31 March 2025

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 approved by the Board of Directors and authorised for issue on 28 October 2025 and were signed on its behalf by:

A M Baxter - Director

| Plexstar Limited (Registered number: 04988642) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Plexstar 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

| Basis of preparing the financial statements

| These financial statements are prepared on a going concern basis. The Directors have every expectation that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due. Last year included impairment of a significant connected party loan and this has had an impact on the company's financial performance and position. Despite this the company has adequate resources to continue to operate and grow as seen during this financial year. The expectation is based on the following factors: 1. Financial Support: the company has received assurances of continued financial support from its shareholders. 2. Cash Flow Projections & Management Accounts: Detailed cash flow projections and management accounts have been prepared, which indicate that the company will be able to meet its liabilities as they fall due. 3. Cost Management: The Directors have implemented cost-saving measures to contribute to the company's future growth.

| Thus the Directors consider it appropriate to prepare these financial statements on a going concern basis.

| Turnover

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

| Tangible fixed assets

| Tangible Fixed Assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

| Stocks

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

| Plexstar Limited (Registered number: 04988642) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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 realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.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 realise the asset and settle the liability simultaneously.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Equity instruments

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

| Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Plexstar Limited (Registered number: 04988642) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| 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.

| Hire purchase and leasing commitments

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

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 10 (2024 - 15 ) .

| Plexstar Limited (Registered number: 04988642) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 28,600 |  |

| AMORTISATION

| At 1 April 2024 | 6,283 |  |

| Charge for year | 5,720 |  |

| At 31 March 2025 | 12,003 |  |

| NET BOOK VALUE

| At 31 March 2025 | 16,597 |  |

| At 31 March 2024 | 22,317 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 21,175 |  | 199,680 |  | 220,855 |  |

| Additions | - |  | 4,943 |  | 4,943 |  |

| At 31 March 2025 | 21,175 |  | 204,623 |  | 225,798 |  |

| DEPRECIATION

| At 1 April 2024 | 9,570 |  | 149,359 |  | 158,929 |  |

| Charge for year | 2,117 |  | 19,665 |  | 21,782 |  |

| At 31 March 2025 | 11,687 |  | 169,024 |  | 180,711 |  |

| NET BOOK VALUE

| At 31 March 2025 | 9,488 |  | 35,599 |  | 45,087 |  |

| At 31 March 2024 | 11,605 |  | 50,321 |  | 61,926 |  |

6. | DEBTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 31,729 |  | 17,988 |  |

| Other debtors | 5,830 |  | 7,800 |  |

37,559 |  | 25,788 |  |

| Plexstar Limited (Registered number: 04988642) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

6. | DEBTORS - continued

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due after more than one year:

| Amounts owed by associates | 28,923 |  | - |  |

| Aggregate amounts | 66,482 |  | 25,788 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | 84,936 |  | 146,104 |  |

| Trade creditors | 32,121 |  | 55,192 |  |

| Taxation and social security | 89,342 |  | 41,263 |  |

| Other creditors | 2,938 |  | 435,603 |  |

209,337 |  | 678,162 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Other creditors | 440,873 |  | - |  |

9. | RELATED PARTY DISCLOSURES

| AG Electronics Limited

| A company under common control

| Loans repayments to the value of £19,133 were received from the company within the period.

| 31.3.25 |  | 31.3.24

£ | £ |

| Amount due from related party at the balance sheet date | 28,923 |  | 48,056 |  |

10. | ULTIMATE CONTROLLING PARTY

| The company is controlled by the Directors by virtue of them holding the entire share capital.