REGISTERED NUMBER: 01382419 (England and Wales)

EXCELSIOR PANELLING SYSTEMS LTD

Unaudited Financial Statements for the Year Ended 31 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

RP Gallagher

TL Gallagher

KL Sanders

SA Sanders

SECRETARY:

S A Sanders

REGISTERED OFFICE:

Unit 2

Woodside Industrial Estate

Pedmore Road

Dudley

West Midlands

DY2 0RL

REGISTERED NUMBER:

01382419 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

4

615,851

715,463

CURRENT ASSETS

Stocks

598,719

570,384

Debtors

5

2,779,725

2,374,678

Cash at bank and in hand

73,711

498,639

3,452,155

3,443,701

CREDITORS

Amounts falling due within one year

6

1,869,596

1,894,087

NET CURRENT ASSETS

1,582,559

1,549,614

TOTAL ASSETS LESS CURRENT LIABILITIES

2,198,410

2,265,077

CREDITORS

Amounts falling due after more than one year

7

(199,365

)

(288,706

)

PROVISIONS FOR LIABILITIES

(100,345

)

(119,413

)

NET ASSETS

1,898,700

1,856,958

CAPITAL AND RESERVES

Called up share capital

630

630

Capital redemption reserve

37

37

Retained earnings

1,898,033

1,856,291

1,898,700

1,856,958

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 4 December 2025 and were signed on its behalf by:

RP Gallagher - Director

SA Sanders - Director

1.	STATUTORY INFORMATION

Excelsior Panelling Systems 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised on dispatch of goods.

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.

Short leasehold

-

Straight line over the life of the lease

Improvements to property

-

15% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

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

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

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 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 58 (2024 - 64 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 June 2024

6,250

212,286

927,390

Additions

-

-

6,806

At 31 May 2025

6,250

212,286

934,196

DEPRECIATION

At 1 June 2024

4,687

151,435

611,091

Charge for year

521

12,170

63,907

At 31 May 2025

5,208

163,605

674,998

NET BOOK VALUE

At 31 May 2025

1,042

48,681

259,198

At 31 May 2024

1,563

60,851

316,299

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2024

28,809

466,873

100,444

1,742,052

Additions

4,016

35,478

20,172

66,472

At 31 May 2025

32,825

502,351

120,616

1,808,524

DEPRECIATION

At 1 June 2024

22,178

199,184

38,014

1,026,589

Charge for year

1,795

72,835

14,856

166,084

At 31 May 2025

23,973

272,019

52,870

1,192,673

NET BOOK VALUE

At 31 May 2025

8,852

230,332

67,746

615,851

At 31 May 2024

6,631

267,689

62,430

715,463

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 June 2024

and 31 May 2025

452,675

393,228

845,903

DEPRECIATION

At 1 June 2024

209,905

154,277

364,182

Charge for year

48,554

59,738

108,292

At 31 May 2025

258,459

214,015

472,474

NET BOOK VALUE

At 31 May 2025

194,216

179,213

373,429

At 31 May 2024

242,770

238,951

481,721

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

1,452,035

1,367,788

Amounts owed by group undertakings

1,169,552

846,228

Other debtors

66

66

VAT

70,365

62,609

Prepayments

87,707

97,987

2,779,725

2,374,678

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Hire purchase contracts (see note 8)

89,351

142,232

Trade creditors

1,301,983

1,340,090

Tax

155,225

153,280

Social security and other taxes

80,314

78,021

Other creditors

203,711

143,684

Accrued expenses

39,012

36,780

1,869,596

1,894,087

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Hire purchase contracts (see note 8)

199,365

288,706

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.5.25

31.5.24

£

£

Net obligations repayable:

Within one year

89,351

142,232

Between one and five years

199,365

288,706

288,716

430,938

Non-cancellable

operating leases

31.5.25

31.5.24

£

£

Within one year

18,542

95,000

Between one and five years

-

15,833

18,542

110,833

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.25

31.5.24

£

£

Hire purchase contracts

288,716

430,938

10.	RELATED PARTY DISCLOSURES

Included within debtors is an amount of £1,169,552 (2024 £846,228) owed by EPS Group Holdings Limited, the parent company of this company.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is EPS Group Holdings Limited.

The ultimate controlling party is the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Excelsior Panelling Systems Ltd for the year ended 31 May 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Excelsior Panelling Systems Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Excelsior Panelling Systems Ltd and state those matters that we have agreed to state to the Board of Directors of Excelsior Panelling Systems Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Excelsior Panelling Systems Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Excelsior Panelling Systems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Excelsior Panelling Systems Ltd. You consider that Excelsior Panelling Systems Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Excelsior Panelling Systems Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

10 December 2025