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| GROUP STRATEGIC REPORT, |

| REPORT OF THE DIRECTOR AND |

| UNAUDITED |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 28 FEBRUARY 2025 |

| FOR |

| TLA ELECTRICAL HOLDINGS LTD |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 28 February 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Director | 3 |

| Consolidated Statement of Comprehensive Income | 4 |

| Consolidated Balance Sheet | 5 |

| Company Balance Sheet | 6 |

| Consolidated Statement of Changes in Equity | 7 |

| Company Statement of Changes in Equity | 8 |

| Consolidated Cash Flow Statement | 9 |

| Notes to the Consolidated Cash Flow Statement | 10 |

| Notes to the Consolidated Financial Statements | 11 |

| TLA ELECTRICAL HOLDINGS LTD |

COMPANY INFORMATION

for the year ended 28 February 2025

| DIRECTOR: | D Curtis

| REGISTERED OFFICE: | 63-69 Moorbridge Road

| Bingham

| Nottinghamshire

| NG13 8GG

| REGISTERED NUMBER: | 07344626 (England and Wales)

| ACCOUNTANTS: | Hewitt Card Limited

| Chartered Certified Accountants

| 70-72 Nottingham Road

| Mansfield

| Nottinghamshire

| NG18 1BN

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

GROUP STRATEGIC REPORT

for the year ended 28 February 2025

The Group's objectives are to provide from stock a comprehensive and high quality supply of switch and fuse gear along with associated products to industry users.

This is achieved through a developing branch network and the employment of knowledgeable staff together with ensuring the supply of products from industry leading names.

REVIEW OF BUSINESS

The Board feel the result for the year is relatively pleasing, specifically when viewed in conjunction with the economic and political uncertainties faced during this time.

The Group has managed funds and resources prudently throughout and has maintained a balanced position providing supply and support to key industries while maintain financial discipline to ensure continued profitability and returns to stakeholders while working within the finance available and regulations imposed.

Profits generated have been used to strengthen the Group's working capital and also support investment in increased and improved warehousing facilities that are expected to come fully operational in 2026.

At the end of the year the Board are satisfied with both the result achieved and the overall year end position; and to date the Group continues to trade satisfactorily.

The key performance indicators of the Group are given below:

| 2025 |  | 2024 |

Gross profit |  | £9.0m |  | £9.3m |

Gross profit percentage |  | 25.75% |  | 26.65% |

Net profit/(loss) |  | £1.46m |  | £1.76m |

Stockholding days |  | 85 |  | 85 |

Debtor days |  | 90 |  | 90 |

Shareholders funds |  | £11.7m |  | £10.2m |

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks facing the Group is the maintenance of a diverse and credit worthy customer base along with effective management of working capital.

The Group manages it's cash flow through borrowing secured on the Group's debtors. These levels are continually reviewed to ensure projected needs are covered.

The Group's exposure to debt is managed through debt control with review of the Group's customer base to ensure there is no concentration of risk.

Stock levels are reviewed regularly to both ensure continuity of supply and combat obsolete stock.

ON BEHALF OF THE BOARD:

D Curtis - Director

17 November 2025

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

REPORT OF THE DIRECTOR

for the year ended 28 February 2025

The director presents his report with the financial statements of the company and the group for the year ended 28 February 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the sale of electrical components.

DIVIDENDS

No dividends will be distributed for the year ended 28 February 2025.

DIRECTOR

D Curtis was the sole director during the year under review.

The director holding office at 28 February 2025 did not hold any beneficial interest in the issued share capital of the company at 1 March 2024 or 28 February 2025.

ON BEHALF OF THE BOARD:

D Curtis - Director

17 November 2025

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

CONSOLIDATED

STATEMENT OF COMPREHENSIVE

INCOME

for the year ended 28 February 2025

| 28.2.25 | 29.2.24 |

| Notes | £ | £ | £ | £ |

TURNOVER | 35,020,428 |  | 34,936,580 |  |

Cost of sales | 26,003,573 |  | 25,626,968 |  |

GROSS PROFIT | 9,016,855 |  | 9,309,612 |  |

Distribution costs | 124,726 |  | 112,622 |  |

Administrative expenses | 6,569,052 |  | 6,442,230 |  |

|  |  | 6,693,778 |  |  |  |  | 6,554,852 |  |

OPERATING PROFIT | 4 | 2,323,077 |  | 2,754,760 |  |

Interest payable and similar expenses | 5 | 80,459 |  | 91,465 |  |

PROFIT BEFORE TAXATION | 2,242,618 |  | 2,663,295 |  |

Tax on profit | 6 | 782,696 |  | 896,946 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,459,922 |  | 1,766,349 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,459,922 |  | 1,766,349 |  |

Profit attributable to:

Owners of the parent | 1,459,922 |  | 1,766,349 |  |

Total comprehensive income attributable to:

Owners of the parent | 1,459,922 |  | 1,766,349 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

CONSOLIDATED BALANCE SHEET

28 February 2025

| 28.2.25 | 29.2.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 8 | 63,164 |  | 73,487 |  |

Tangible assets | 9 | 2,466,077 |  | 2,030,460 |  |

Investments | 10 | - |  | - |  |

2,529,241 |  | 2,103,947 |  |

CURRENT ASSETS

Stocks | 11 | 7,338,099 |  | 6,183,647 |  |

Debtors | 12 | 7,859,456 |  | 9,436,333 |  |

Cash at bank and in hand | 2,864,613 |  | 1,516,659 |  |

18,062,168 |  | 17,136,639 |  |

CREDITORS

Amounts falling due within one year | 13 | 8,085,788 |  | 8,024,384 |  |

NET CURRENT ASSETS | 9,976,380 |  | 9,112,255 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 12,505,621 |  | 11,216,202 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (670,824 | ) | (834,086 | ) |

PROVISIONS FOR LIABILITIES | 18 | (118,104 | ) | (125,345 | ) |

NET ASSETS | 11,716,693 |  | 10,256,771 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 1,000 |  | 1,000 |  |

Share premium | 20 | 333,085 |  | 333,085 |  |

Retained earnings | 20 | 11,382,608 |  | 9,922,686 |  |

SHAREHOLDERS' FUNDS | 11,716,693 |  | 10,256,771 |  |

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The financial statements were approved by the director and authorised for issue on 17 November 2025 and were signed by:

D Curtis - Director

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

COMPANY BALANCE SHEET

28 February 2025

| 28.2.25 | 29.2.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 8 | - |  | - |  |

Tangible assets | 9 | - |  | - |  |

Investments | 10 | 1,333,335 |  | 1,333,335 |  |

1,333,335 |  | 1,333,335 |  |

CURRENT ASSETS

Cash at bank | 178,311 |  | 178,311 |  |

CREDITORS

Amounts falling due within one year | 13 | 67,087 |  | 67,087 |  |

NET CURRENT ASSETS | 111,224 |  | 111,224 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,444,559 |  | 1,444,559 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 1,000 |  | 1,000 |  |

Share premium | 333,085 |  | 333,085 |  |

Retained earnings | 1,110,474 |  | 1,110,474 |  |

SHAREHOLDERS' FUNDS | 1,444,559 |  | 1,444,559 |  |

Company's loss for the financial year | - |  | (20 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 17 November 2025 and were signed by:

D Curtis - Director

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the year ended 28 February 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 March 2023 | 1,000 |  | 8,156,337 |  | 333,085 |  | 8,490,422 |  |

Changes in equity

Total comprehensive income | - |  | 1,766,349 |  | - |  | 1,766,349 |  |

Balance at 29 February 2024 | 1,000 |  | 9,922,686 |  | 333,085 |  | 10,256,771 |  |

Changes in equity

Total comprehensive income | - |  | 1,459,922 |  | - |  | 1,459,922 |  |

Balance at 28 February 2025 | 1,000 |  | 11,382,608 |  | 333,085 |  | 11,716,693 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

COMPANY STATEMENT OF CHANGES IN EQUITY

for the year ended 28 February 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 March 2023 | 1,000 |  | 1,110,494 |  | 333,085 |  | 1,444,579 |  |

Changes in equity

Total comprehensive income | - |  | (20 | ) | - |  | (20 | ) |

Balance at 29 February 2024 | 1,000 |  | 1,110,474 |  | 333,085 |  | 1,444,559 |  |

Changes in equity

Balance at 28 February 2025 | 1,000 |  | 1,110,474 |  | 333,085 |  | 1,444,559 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

CONSOLIDATED CASH FLOW STATEMENT

for the year ended 28 February 2025

| 28.2.25 |  | 29.2.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 3,291,768 |  | 2,324,235 |  |

Interest paid | (33,429 | ) | (38,615 | ) |

Interest element of hire purchase payments paid | (47,030 | ) | (52,850 | ) |

Tax paid | (903,602 | ) | (883,424 | ) |

Net cash from operating activities | 2,307,707 |  | 1,349,346 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (862,507 | ) | (485,210 | ) |

Sale of tangible fixed assets | 79,739 |  | 49,960 |  |

Net cash from investing activities | (782,768 | ) | (435,250 | ) |

Cash flows from financing activities

Loan repayments in year | (60,112 | ) | (56,788 | ) |

Capital repayments in year | (116,873 | ) | 171,162 |  |

Amount introduced by directors | - |  | 5,471 |  |

Net cash from financing activities | (176,985 | ) | 119,845 |  |

Increase in cash and cash equivalents | 1,347,954 |  | 1,033,941 |  |

Cash and cash equivalents at beginning of year | 2 | 1,516,659 |  | 482,718 |  |

Cash and cash equivalents at end of year | 2 | 2,864,613 |  | 1,516,659 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

for the year ended 28 February 2025

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Profit before taxation | 2,242,618 |  | 2,663,295 |  |

| Depreciation charges | 342,510 |  | 335,406 |  |

| Loss/(profit) on disposal of fixed assets | 14,966 |  | (5,823 | ) |

| Finance costs | 80,459 |  | 91,465 |  |

2,680,553 |  | 3,084,343 |  |

| Increase in stocks | (1,154,452 | ) | (451,212 | ) |

| Decrease/(increase) in trade and other debtors | 1,576,875 |  | (1,533,608 | ) |

| Increase in trade and other creditors | 188,792 |  | 1,224,712 |  |

| Cash generated from operations | 3,291,768 |  | 2,324,235 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 28 February 2025

| 28.2.25 |  | 1.3.24

£ | £ |

| Cash and cash equivalents | 2,864,613 |  | 1,516,659 |  |

| Year ended 29 February 2024

| 29.2.24 |  | 1.3.23

£ | £ |

| Cash and cash equivalents | 1,516,659 |  | 482,718 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.3.24 | Cash flow | At 28.2.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,516,659 |  | 1,347,954 |  | 2,864,613 |  |

1,516,659 |  | 1,347,954 |  | 2,864,613 |  |

| Debt

| Finance leases | (567,198 | ) | 116,873 |  | (450,325 | ) |

| Debts falling due within 1 year | (61,532 | ) | (5,901 | ) | (67,433 | ) |

| Debts falling due after 1 year | (450,932 | ) | 66,013 |  | (384,919 | ) |

(1,079,662 | ) | 176,985 |  | (902,677 | ) |

| Total | 436,997 |  | 1,524,939 |  | 1,961,936 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 28 February 2025

1. | STATUTORY INFORMATION

| TLA Electrical Holdings Ltd 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.

| 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 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.

| 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 with wholly owned subsidiaries within the group.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Critical accounting judgements and key sources of estimation uncertainty

| Slow moving stock

| The company holds a diverse range of stock and closely monitors the movement of each line. The company recognises the need to be prudent and to provide a basis upon which to identify slow moving stock. Provision is provided based on the length of time since there was activity and the write down is scaled up to a maximum of 100% of cost.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

| Sale of goods

| Turnover from the sale of goods is recognised when;

| - the significant risks and rewards of ownership of the goods has transferred to the buyer

| - the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold

| - the amount of turnover can be measured reliably

| - it is probable that the economic benefits associated with the transaction will flow to the company

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

| Intangible fixed assets - development costs

| Expenditure on research and development is charged to the profit and loss account in the year in which it is incurred with the exception of expenditure incurred in respect of the development of major new products where the outcome of those projects is assessed as being reasonably certain as regards viability and technical feasibility. Such expenditure is capitalised and amortised straight line over the estimated period of sale for each product, commencing in the year that sales of the product are first made.

| Amortisation is provided over 2 years on a straight line

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Freehold property | - | 2% on cost

| Short leasehold | - | Straight line over 5 years

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | Straight line over 3 years

| Stocks

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

| Stock is valued on the AVCO basis.

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| 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 trade and other receivables, loans to fellow group companies 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 measured 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.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements 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, including trade and other payables, and bank loans are classified as debt, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

| Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

| Derecognition of financial liabilities

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

2. | ACCOUNTING POLICIES - continued

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled

| Equity instruments

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

| Taxation

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

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. | EMPLOYEES AND DIRECTORS

| 28.2.25 |  | 29.2.24

£ | £ |

| Wages and salaries | 3,279,740 |  | 3,388,744 |  |

| Social security costs | 318,774 |  | 309,096 |  |

| Other pension costs | 235,269 |  | 241,369 |  |

3,833,783 |  | 3,939,209 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

3. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 28.2.25 |  | 29.2.24

93 |  | 90 |  |

| 28.2.25 |  | 29.2.24

£ | £ |

| Director's remuneration | 207,827 |  | 209,658 |  |

| Director's pension contributions to money purchase schemes | 60,000 |  | 60,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 6 |  | 6 |  |

| Information regarding the highest paid director is as follows:

| 28.2.25 |  | 29.2.24

£ | £ |

| Emoluments etc | 181,674 |  | 198,058 |  |

| Pension contributions to money purchase schemes | 60,000 |  | 60,000 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 28.2.25 |  | 29.2.24

£ | £ |

| Hire of plant and machinery | 75,494 |  | 101,965 |  |

| Depreciation - owned assets | 213,181 |  | 154,889 |  |

| Depreciation - assets on hire purchase contracts | 119,004 |  | 170,193 |  |

| Loss/(profit) on disposal of fixed assets | 14,966 |  | (5,823 | ) |

| Goodwill amortisation | 10,323 |  | 10,323 |  |

| Auditors' remuneration | 17,575 |  | 16,375 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 28.2.25 |  | 29.2.24

£ | £ |

| Invoice discounting interest | - |  | 76 |  |

| Other interest | 165 |  | 2,249 |  |

| Loan | 33,264 |  | 36,290 |  |

| Hire purchase | 47,030 |  | 52,850 |  |

80,459 |  | 91,465 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 28.2.25 |  | 29.2.24

£ | £ |

| Current tax:

| UK corporation tax | 789,937 |  | 902,771 |  |

| Adjustment in respect of prior years | - |  | (17 | ) |

| Total current tax | 789,937 |  | 902,754 |  |

| Deferred tax:

| Origination and reversal | (7,241 | ) | (5,808 | ) |

| Tax on profit | 782,696 |  | 896,946 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 28.2.25 |  | 29.2.24

£ | £ |

| Profit before tax | 2,242,618 |  | 2,663,295 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 24.587 %) | 560,655 |  | 654,824 |  |

| Effects of:

| Expenses not deductible for tax purposes | 218,399 |  | 237,915 |  |

| Income not taxable for tax purposes | - |  | (1,426 | ) |

| Depreciation in excess of capital allowances | 10,883 |  | 11,454 |  |

| Adjustments to tax charge in respect of previous periods | - |  | (17 | ) |

| Group relief | - |  | 4 |  |

| Deferred tax | (7,241 | ) | (5,808 | ) |

| Total tax charge | 782,696 |  | 896,946 |  |

7. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

| As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

8. | INTANGIBLE FIXED ASSETS

| Group

| Development |

| Goodwill |  | costs |  | Totals

£ | £ | £ |

| COST

| At 1 March 2024

| and 28 February 2025 | 206,456 |  | 39,830 |  | 246,286 |  |

| AMORTISATION

| At 1 March 2024 | 132,969 |  | 39,830 |  | 172,799 |  |

| Amortisation for year | 10,323 |  | - |  | 10,323 |  |

| At 28 February 2025 | 143,292 |  | 39,830 |  | 183,122 |  |

| NET BOOK VALUE

| At 28 February 2025 | 63,164 |  | - |  | 63,164 |  |

| At 29 February 2024 | 73,487 |  | - |  | 73,487 |  |

9. | TANGIBLE FIXED ASSETS

| Group

| Freehold |  | Short |  | Plant and

| property |  | leasehold |  | machinery

£ | £ | £ |

| COST

| At 1 March 2024 | 1,335,068 |  | 34,545 |  | 687,079 |  |

| Additions | 436,004 |  | - |  | 62,156 |  |

| Disposals | - |  | - |  | - |  |

| At 28 February 2025 | 1,771,072 |  | 34,545 |  | 749,235 |  |

| DEPRECIATION

| At 1 March 2024 | 170,337 |  | 34,545 |  | 479,271 |  |

| Charge for year | 17,711 |  | - |  | 67,569 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 28 February 2025 | 188,048 |  | 34,545 |  | 546,840 |  |

| NET BOOK VALUE

| At 28 February 2025 | 1,583,024 |  | - |  | 202,395 |  |

| At 29 February 2024 | 1,164,731 |  | - |  | 207,808 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

9. | TANGIBLE FIXED ASSETS - continued

| Group

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 March 2024 | 432,038 |  | 1,082,604 |  | 273,886 |  | 3,845,220 |  |

| Additions | - |  | 285,671 |  | 78,676 |  | 862,507 |  |

| Disposals | - |  | (256,303 | ) | - |  | (256,303 | ) |

| At 28 February 2025 | 432,038 |  | 1,111,972 |  | 352,562 |  | 4,451,424 |  |

| DEPRECIATION

| At 1 March 2024 | 327,047 |  | 551,483 |  | 252,077 |  | 1,814,760 |  |

| Charge for year | 26,248 |  | 168,845 |  | 51,812 |  | 332,185 |  |

| Eliminated on disposal | - |  | (161,598 | ) | - |  | (161,598 | ) |

| At 28 February 2025 | 353,295 |  | 558,730 |  | 303,889 |  | 1,985,347 |  |

| NET BOOK VALUE

| At 28 February 2025 | 78,743 |  | 553,242 |  | 48,673 |  | 2,466,077 |  |

| At 29 February 2024 | 104,991 |  | 531,121 |  | 21,809 |  | 2,030,460 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 March 2024 | 54,789 |  | 804,395 |  | 859,184 |  |

| Additions | - |  | 160,720 |  | 160,720 |  |

| Transfer to ownership | - |  | (219,101 | ) | (219,101 | ) |

| At 28 February 2025 | 54,789 |  | 746,014 |  | 800,803 |  |

| DEPRECIATION

| At 1 March 2024 | 40,343 |  | 308,261 |  | 348,604 |  |

| Charge for year | 3,612 |  | 115,392 |  | 119,004 |  |

| Transfer to ownership | - |  | (105,297 | ) | (105,297 | ) |

| At 28 February 2025 | 43,955 |  | 318,356 |  | 362,311 |  |

| NET BOOK VALUE

| At 28 February 2025 | 10,834 |  | 427,658 |  | 438,492 |  |

| At 29 February 2024 | 14,446 |  | 496,134 |  | 510,580 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

10. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 March 2024

| and 28 February 2025 | 1,333,335 |  |

| NET BOOK VALUE

| At 28 February 2025 | 1,333,335 |  |

| At 29 February 2024 | 1,333,335 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiary

| TLA Distribution Limited

| Registered office: England and Wales

| Nature of business: Sale of electrical components

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 28.2.25 |  | 29.2.24

£ | £ |

| Aggregate capital and reserves | 11,542,303 |  | 10,072,058 |  |

| Profit for the year | 1,470,245 |  | 1,776,692 |  |

11. | STOCKS

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Stocks | 7,338,099 |  | 6,183,647 |  |

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

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Trade debtors | 6,921,950 |  | 8,519,963 |  |

| Amounts owed by group undertakings | 300 |  | 100 |  |

| Other debtors | 56,389 |  | 240,446 |  |

| Prepayments | 880,817 |  | 675,824 |  |

7,859,456 |  | 9,436,333 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

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

| Group |  | Company |

| 28.2.25 |  | 29.2.24 |  | 28.2.25 |  | 29.2.24 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 15) | 67,433 |  | 61,532 |  | - |  | - |  |

| Hire purchase contracts (see note 16) | 164,420 |  | 184,044 |  | - |  | - |  |

| Trade creditors | 6,966,156 |  | 6,601,060 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 45,187 |  | 45,187 |  |

| Tax | 254,938 |  | 368,603 |  | - |  | - |  |

| Social security and other taxes | 81,793 |  | 72,833 |  | - |  | - |  |

| VAT | 262,622 |  | 472,890 |  | - |  | - |  |

| Other creditors | 19,235 |  | 19,235 |  | 19,237 |  | 19,237 |  |

| Directors' current accounts | 100 |  | 100 |  | 100 |  | 100 |  |

| Accrued expenses | 269,091 |  | 244,087 |  | 2,563 |  | 2,563 |  |

8,085,788 |  | 8,024,384 |  | 67,087 |  | 67,087 |  |

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

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Bank loans (see note 15) | 384,919 |  | 450,932 |  |

| Hire purchase contracts (see note 16) | 285,905 |  | 383,154 |  |

670,824 |  | 834,086 |  |

15. | LOANS

| An analysis of the maturity of loans is given below:

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Amounts falling due within one year or on | demand: |

| Bank loans | 67,433 |  | 61,532 |  |

| Amounts falling due between one and two | years: |

| Bank loans - 1-2 years | 71,248 |  | 65,669 |  |

| Amounts falling due between two and five | years: |

| Bank loans - 2-5 years | 239,585 |  | 224,711 |  |

| Amounts falling due in more than five years: |

| Repayable by instalments

| Bank loans more 5 yr by instal | 74,086 |  | 160,552 |  |

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

16. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Gross obligations repayable:

| Within one year | 192,666 |  | 222,421 |  |

| Between one and five years | 306,755 |  | 420,465 |  |

499,421 |  | 642,886 |  |

| Finance charges repayable:

| Within one year | 28,246 |  | 38,377 |  |

| Between one and five years | 20,850 |  | 37,311 |  |

49,096 |  | 75,688 |  |

| Net obligations repayable:

| Within one year | 164,420 |  | 184,044 |  |

| Between one and five years | 285,905 |  | 383,154 |  |

450,325 |  | 567,198 |  |

| Group

| Non-cancellable |

| operating leases |

| 28.2.25 |  | 29.2.24

£ | £ |

| Within one year | 9,316 |  | 38,709 |  |

| Between one and five years | 205,809 |  | 163,290 |  |

| In more than five years | 721,116 |  | 509,939 |  |

936,241 |  | 711,938 |  |

17. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Bank loans | 452,352 |  | 512,464 |  |

| Hire purchase contracts | 450,325 |  | 567,198 |  |

902,677 |  | 1,079,662 |  |

| The bank overdraft is secured on the company's trade debtors and by a debenture dated 27th March 1999.

| The bank also holds a charge over the company's premises at Bingham and Northamptonshire.

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

18. | PROVISIONS FOR LIABILITIES

| Group |

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Deferred tax | 118,104 |  | 125,345 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 March 2024 | 125,345 |  |

| Provided during year | (7,241 | ) |

| Balance at 28 February 2025 | 118,104 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 28.2.25 |  | 29.2.24

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

20. | RESERVES

| Group

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 March 2024 | 9,922,686 |  | 333,085 |  | 10,255,771 |  |

| Profit for the year | 1,459,922 |  | 1,459,922 |  |

| At 28 February 2025 | 11,382,608 |  | 333,085 |  | 11,715,693 |  |

21. | PENSION COMMITMENTS

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

| The total cost of contributions in the period is £235,269 (2024: £477,670). At 28th February 2025 £163,370 was outstanding in respect of contributions (2024:£196,301)

22. | CAPITAL COMMITMENTS

| 28.2.25 |  | 29.2.24

£ | £ |

| Contracted but not provided for in the

| financial statements | 1,375,000 |  | 2,498,722 |  |

| The company is expanding its warehouse at Bingham

TLA ELECTRICAL HOLDINGS LTD (REGISTERED NUMBER: 07344626) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

23. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

| 28.2.25 |  | 29.2.24

£ | £ |

| D Curtis

| Balance outstanding at start of year | (100 | ) | 5,373 |  |

| Amounts repaid | - |  | (5,473 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (100 | ) | (100 | ) |

24. | ULTIMATE CONTROLLING PARTY

| There is no overall controlling party