REGISTERED NUMBER: SC169201 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

Cello Electronics (Uk) Ltd.

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

B J Palmer

S Galbraith

Mrs S L Dinsdale

S Hughes

REGISTERED OFFICE:

29 Brandon Street

Hamilton

Lanarkshire

ML3 6DA

REGISTERED NUMBER:

SC169201 (Scotland)

AUDITORS:

Sharles Audit Limited

Statutory Auditor

29 Brandon Street

Hamilton

ML3 6DA

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

A summary of the results of trading for the 31 March 2025 is provided within the attached financial statements.

The directors are satisfied with the results achieved by the company during the year.

Based on a year to year comparison of the results of the company:

- Turnover increased by 25% to £17,142,454 from £13,718,349,

- Gross profit increased to £3,196,534 (19%) from £2,652,262 (19%), and

- Net profit decreased to £1,379,234 (8%) from £1,391,596 (10%).

The key performance indicators used to measure the performance of the company are turnover, gross profit and net profit.

The directors consider the company to be in a healthy financial position at the year end.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's operations expose it to a variety of financial risks that include performance risk, operational risk, credit risk, liquidity risk and price risk. The directors recognise their overall responsibility for the company's systems and internal control. The controls are designed to manage as opposed to completely eliminate risk.

The company has in place a risk management programme that seeks to limit the adverse affects on the financial performance of the company by regularly reviewing and monitoring individual contracts and product lines.

Performance risk is minimised through accurately budgeting and costing individual contracts and product lines at the outset and then monitoring their performance. The performance of the company is monitored through monthly management accounts which are reviewed by the directors.

Operational risk is minimised through having robust health and safety and quality assurance policies and procedures in place as well as the development of a positive health and safety culture.

Credit risk is minimised by requiring the appropriate credit checks on potential customers, working with reputable customers, agreeing regular payment terms on larger contracts and having strict credit controls. The amount of exposure to any individual customer is also assessed and controlled.

Liquidity risk is minimised through the retention of a healthy level of reserves and through ensuring appropriate levels of funding are in place.

Price risk relating to price increases is minimised by agreeing fixed prices with individual suppliers and sourcing goods and services from multiple suppliers to ensure competitive pricing.

GOING CONCERN

The directors have assessed the company as having sufficient resources to meet the expected ongoing costs of the business for a period of at least 12 months from the date of signing the financial statements. As a result they have continued to adopt the going concern basis when preparing the financial statements.

ON BEHALF OF THE BOARD:

B J Palmer - Director

17 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture and wholesale of a range of electronic products including TVs.

DIVIDENDS

An interim dividend of £1.30 per share was paid on 31 March 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 92,238 .

RESEARCH AND DEVELOPMENT

The company is continually developing new and unique product lines incorporating new technologies and innovations into its range of televisions and accessories.

FUTURE DEVELOPMENTS

The directors believe the company is well positioned to strengthen its position in the market place and continue winning new business, selling at a margin which will maintain profitability.

DIRECTORS

B J Palmer has held office during the whole of the period from 1 April 2024 to the date of this report.

Other changes in directors holding office are as follows:

S Galbraith , Mrs S L Dinsdale and S Hughes were appointed as directors after 31 March 2025 but prior to the date of this report.

Mrs V A Palmer ceased to be a director after 31 March 2025 but prior to the date of this report.

POST BALANCE SHEET EVENTS

There are no matters to report as post balance sheet events.

DISCLOSURE IN THE STRATEGIC REPORT

The review of the company's business and the description of the principal risks and uncertainties facing the company are disclosed in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Sharles Audit Limited, have indicated their willingness to be reappointed for another term and appropriate arrangements have been put in place for them to be deemed reappointed as auditors in the absence of an Annual General Meeting.

ON BEHALF OF THE BOARD:

B J Palmer - Director

17 December 2025

Opinion

We have audited the financial statements of Cello Electronics (Uk) Ltd. (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

-

obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework;

-

inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

-

discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Companies Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing financial statement disclosures, inspecting correspondence with local tax authorities and evaluating advice received from internal/external tax advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to the environment. We performed audit procedures to inquire of management and those charged with governance whether the company is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates applied in the year end accounts.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Keith Edwards (Senior Statutory Auditor)

for and on behalf of Sharles Audit Limited

Statutory Auditor

29 Brandon Street

Hamilton

ML3 6DA

17 December 2025

TURNOVER

4

17,142,454

13,718,349

Cost of sales

13,945,920

11,066,087

GROSS PROFIT

3,196,534

2,652,262

Distribution costs

19,445

22,029

Administrative expenses

1,917,766

1,433,720

1,937,211

1,455,749

1,259,323

1,196,513

Other operating income

6,764

-

OPERATING PROFIT

6

1,266,087

1,196,513

Interest receivable and similar income

198,970

202,931

1,465,057

1,399,444

Interest payable and similar expenses

7

85,823

7,848

PROFIT BEFORE TAXATION

1,379,234

1,391,596

Tax on profit

8

286,359

289,473

PROFIT FOR THE FINANCIAL YEAR

1,092,875

1,102,123

PROFIT FOR THE YEAR

1,092,875

1,102,123

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,092,875

1,102,123

FIXED ASSETS

Tangible assets

10

84,157

125,413

Investments

11

76

76

84,233

125,489

CURRENT ASSETS

Stocks

12

4,108,957

3,322,657

Debtors

13

4,996,910

4,538,731

Cash at bank

5,260,122

3,156,430

14,365,989

11,017,818

CREDITORS

Amounts falling due within one year

14

5,247,859

2,938,347

NET CURRENT ASSETS

9,118,130

8,079,471

TOTAL ASSETS LESS CURRENT LIABILITIES

9,202,363

8,204,960

PROVISIONS FOR LIABILITIES

15

9,953

13,187

NET ASSETS

9,192,410

8,191,773

CAPITAL AND RESERVES

Called up share capital

16

71,000

71,000

Retained earnings

17

9,121,410

8,120,773

SHAREHOLDERS' FUNDS

9,192,410

8,191,773

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2025 and were signed on its behalf by:

B J Palmer - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

71,000

7,624,500

7,695,500

Changes in equity

Dividends

-

(605,850

)

(605,850

)

Total comprehensive income

-

1,102,123

1,102,123

Balance at 31 March 2024

71,000

8,120,773

8,191,773

Changes in equity

Dividends

-

(92,238

)

(92,238

)

Total comprehensive income

-

1,092,875

1,092,875

Balance at 31 March 2025

71,000

9,121,410

9,192,410

1.	STATUTORY INFORMATION

Cello Electronics (Uk) Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company in the year under review was that of the manufacture and wholesale of a range of electronic products including TVs.

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from the standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements

The financial statements contain information about Cello Electronics (Uk) Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Cello Holdings Limited, 29 Brandon Street, Hamilton. ML3 6DA.

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.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover and revenue recognition

Turnover represents the sale of electrical goods, net of discounts and excluding value added tax, and is recognised at the point that the goods are supplied.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Tenants improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Computer equipment

-

25% on cost

Expenditure of £2,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Investments in subsidiaries

Fixed asset investments in subsidiary undertakings are stated at cost less any provision required to reflect a permanent diminution in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

Basic 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, in full, to all of its financial instruments.

Recognition and measurement of financial instruments:

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Classification of financial instruments:

Financial instruments are classified as liabilities and equity instruments 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.

Trade, group and other debtors:

Trade, group and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where the arrangement with a debtor constitutes a financing transaction, the debtor is initially measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument and subsequently measured at amortised cost, using the effective interest method. The effective interest rate is the market rate used to determine initial measurement adjusted to amortise directly attributable transaction costs.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Cash and cash equivalents:

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade creditors, group and other creditors:

Trade, group and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled.

Where the arrangement with a creditor constitutes a financing transaction, the creditor is initially measured at the present value of future payments discounted at a market rate of interest for a similar instrument and subsequently measured at amortised cost, being transaction price less any amounts settled and the cumulative amortisation (using the effective interest method) of any difference between the amount at initial recognition and the maturity amount. The effective interest rate is the rate that discounts estimated future cash payments to the carrying amount of the financial liability.

Derecognition of financial assets and liabilities:

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some (but not substantially all) 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.

A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

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 taxation

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Transactions in foreign currencies are recognised at the spot rate at the date of transaction, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences are recognised in the profit and loss in the period in which they arise.

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.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefit swill be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

UK

15,323,404

12,658,839

Europe

1,819,050

1,059,510

17,142,454

13,718,349

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

246,642

-

Social security costs

26,118

-

Other pension costs

4,547

-

277,307

-

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

2025

2024

Directors

2

2

Employees

6

-

8

2

2025

2024

£

£

Directors' remuneration

-

-

6.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

41,256

41,449

Auditors' remuneration

12,500

12,500

Auditors' remuneration for non audit work

25,620

25,000

Foreign exchange differences

1,452

51,830

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

9,200

7,848

Other interest

76,623

-

85,823

7,848

8.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

289,593

275,800

Underprovision previous year

-

2,950

Total current tax

289,593

278,750

Deferred tax

(3,234

)

10,723

Tax on profit

286,359

289,473

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

1,379,234

1,391,596

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

344,809

347,899

Effects of:

Expenses not deductible for tax purposes

13,079

31,887

Utilisation of tax losses

(915

)

(23,428

)

Adjustments to tax charge in respect of previous periods

-

3,729

Enhanced tax relief on research and development costs

(77,653

)

(77,653

)

Depreciation on assets not qualifying for capital allowances

7,039

7,039

Total tax charge

286,359

289,473

9.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

92,238

605,850

10.	TANGIBLE FIXED ASSETS

Tenants

improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

281,571

185,535

3,675

470,781

DEPRECIATION

At 1 April 2024

211,580

130,113

3,675

345,368

Charge for year

28,157

13,099

-

41,256

At 31 March 2025

239,737

143,212

3,675

386,624

NET BOOK VALUE

At 31 March 2025

41,834

42,323

-

84,157

At 31 March 2024

69,991

55,422

-

125,413

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

76

NET BOOK VALUE

At 31 March 2025

76

At 31 March 2024

76

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

Cello Solar Limited

Registered office: 29 Brandon Street, Hamilton, ML3 6DA

Nature of business: Electronics

%

Class of shares:

holding

Ordinary

76.00

2025

2024

£

£

Aggregate capital and reserves

14,047

4,077

Profit/(loss) for the year

9,970

(93,710

)