Company No: 07732484 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	81,600		0
Tangible assets	4	151,405		66,614
		233,005		66,614
Current assets
Stocks		488,780		555,523
Debtors	5	594,128		618,930
Cash at bank and in hand		2,650,529		4,151,654
		3,733,437		5,326,107
Creditors: amounts falling due within one year	6	( 752,179)		( 911,270)
Net current assets		2,981,258		4,414,837
Total assets less current liabilities		3,214,263		4,481,451
Net assets		3,214,263		4,481,451
Capital and reserves
Called-up share capital	7	90		35,500
Share premium account		59,895		25,000
Capital redemption reserve		515		0
Profit and loss account		3,153,763		4,420,951
Total shareholders' funds		3,214,263		4,481,451

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Devlin Electronics Limited (registered number: 07732484) were approved and authorised for issue by the Board of Directors on 30 November 2025. They were signed on its behalf by:

Anthony John Carr Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Devlin Electronics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit A1, Davy Close, Basingstoke, RG22 6PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Computer equipment	3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	23		22

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 August 2024	0		0
Additions	102,000		102,000
At 31 July 2025	102,000		102,000
Accumulated amortisation
At 01 August 2024	0		0
Charge for the financial year	20,400		20,400
At 31 July 2025	20,400		20,400
Net book value
At 31 July 2025	81,600		81,600
At 31 July 2024	0		0

4. Tangible assets

	Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£
Cost
At 01 August 2024	259,444		13,086		64,419		336,949
Additions	118,805		0		0		118,805
At 31 July 2025	378,249		13,086		64,419		455,754
Accumulated depreciation
At 01 August 2024	208,295		8,883		53,157		270,335
Charge for the financial year	28,945		1,051		4,018		34,014
At 31 July 2025	237,240		9,934		57,175		304,349
Net book value
At 31 July 2025	141,009		3,152		7,244		151,405
At 31 July 2024	51,149		4,203		11,262		66,614

5. Debtors

	2025		2024
	£		£
Trade debtors	494,128		489,742
Amounts owed by Group undertakings	0		80,000
Prepayments	100,000		43,628
Other debtors	0		5,560
	594,128		618,930

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	46,377		91,574
Accruals	453,338		599,101
Taxation and social security	123,960		219,185
Other creditors	128,504		1,410
	752,179		911,270

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
90 Ordinary shares of £ 1.00 each (2024: 145 shares of £ 1.00 each)	90		145