GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

UNAUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

TLA ELECTRICAL HOLDINGS LTD

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

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

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

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

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

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

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

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

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

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

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

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

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.

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

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

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