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REGISTERED NUMBER: 03790772 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

ELITE ELECTRICAL CONTRACTING LIMITED

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Statement of Comprehensive Income | 10 |

Balance Sheet | 11 |

Statement of Changes in Equity | 12 |

Cash Flow Statement | 13 |

Notes to the Cash Flow Statement | 14 |

Notes to the Financial Statements | 15 |

ELITE ELECTRICAL CONTRACTING LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2025

| DIRECTORS: | G R Barnes

| A Harris

| K Mitchell

| SECRETARY: | A Smith

| REGISTERED OFFICE: | 30 Upper Mulgrave Road

| Cheam

| Surrey

| SM2 7BD

| REGISTERED NUMBER: | 03790772 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Simon Lawrence FCCA

| AUDITORS: | Ashdown Hurrey Auditors Limited

| Statutory Auditor

| 20 Havelock Road

| Hastings

| East Sussex

| TN34 1BP

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

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

Elite Electrical Contracting Limited provides high-quality electrical services, in and around London. Based in Surrey, we are a well-established, reliable and reputable company with an excellent track record in the commercial fit-out sector delivering bespoke and original concepts for businesses. Despite the continued unsettled economic and political environment 2025 has been another successful year for us and we look towards 2026 with great optimism. The company's client base is very balanced amongst a handful of the leading main contractors within our marketplace. The company is privately owned; the ambition remains to organically grow whilst delivering our first-class service which has been part of our success and ethos for over 20 years and led us to where we are in today's market. Whilst growth is inevitable due to inflation and size of projects and opportunities growing it is important to us that we maintain our core strengths, ethos & reputation moving forwards.

REVIEW OF BUSINESS

| Turnover |  | Gross Profit |  | Pre-tax Profit |

2025 |  | £31,247,333 |  | £2,885,992 |  | £1,814,254 |

2024 |  | £20,080,207 |  | £2,915,991 |  | £2,032,863 |

2023 |  | £18,834,335 |  | £3,007,190 |  | £2,192,798 |

Elite Electrical net assets at the financial year end amounted to £5,954,500.

2025 has been a demanding year for the business turnover has increased continuing the trend seen over the last few years. Of course, the business has been subject to rising costs across various areas. Staff and subcontractor costs being two of the biggest areas of increase. Despite several economic challenges impacting all businesses during the period, we were able to continue to win significant contracts throughout the year based largely on our reputation, which continues to grow.

The turnover for the financial year has exceeded £30 million for the first time and as we enter 2026 the outlook is good with an order book of around £18 million most of which will be completed by the end of the year. We are currently in negotiations for between £5-6 million which will fulfil our order book for this financial year up to and including August 31st 2026. We are also actively seeking and discussing several good opportunities to secure works for the year end 2026 with some of our long-standing client partners and framework agreements that we have in place.

The results of the year's trading, along with the financial position of the company, are shown within the annexed financial statements. Whilst the turnover went up by 50% from the previous year, this is a trend that we aren't keen on continuing and preferably would like the turnover to decrease to around £25 million, which we are currently working towards.

Repeat business has always been what we have striven for at Elite Electrical and that has been maintained in the current year end, we do not see that changing for the current year that we have just embarked upon.

Elite continues to be a debt free business. The principal has always been to grow the business organically by reinvesting profits, this has built up cash reserves to assist the business to potential setbacks such as pandemics, cyber threats and supply chain failures. This approach ensures a stable long-term platform and confidence and means we can make less pressurised commercial decisions.

As a business we have a strong reputation in our market for the quality of our workmanship and more importantly our non-confrontational collaborative approach and much of our work is with repeat clients as mentioned above as a key performance indicator.

We have a diversified balanced client base, and we do not put all our eggs in any one basket. This ensures protection against client-side failures which as an industry has led to the downfall of some of our competitors over the past couple of years.

We have commercial reviews and financial checks in place all our projects on a continuous basis. These include checks for quality, health and safety, progress and profitability. We have invested heavily in our IT Infrastructure both hardware and software to enable us to work remotely if necessary. We have also invested heavily in health & safety and training this year to keep ahead of the curve of our competition in this discipline.

We have also updated and enhanced all our current industry accreditations. We operate a highly successful apprenticeship program throughout the business, offering a chance for ambitious people to qualify as approved electricians or become part of the site management teams which have been a great success over the past 20 years with current senior project managers having started as apprentices with us.

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

PRINCIPAL RISKS AND UNCERTAINTIES

Elite implements a range of control measures to minimize risk and exposure for the business. We maintain close links with our supply chain partners and monitor all relevant market data which relates to our sector. The long-term growth of the business depends on the Company's ability to attract and retain high quality people.

We manage this risk by using personal development plans for all our employees. These plans are backed by specific policies and procedures in areas of training, management development, performance management and continuing professional development.

Our current pre-construction & Operations Director are carrying out appraisals with all management and supervisory staff. We are mindful of the huge role that our staff play in our business. Their dedication and skill sets are what set us apart.

As a relaxed family type business, we have always carefully selected the right person for the role and aim to nurture each and every one to fulfil their own unique potential. We endeavour to maintain a culture of caring for our staff and a friendly working environment based on respect for all. We have historically had most success within Elite when we have promoted from within and will continue to try and identify the individuals that will enhance the companies name and reputation.

We are ever mindful of supporting a positive approach to mental health at work. Although the company is open to the general risks of the construction industry and the wider economy, at present these risks have not had a significant impact on our trading and profitability and we do not envisage this to be a problem moving forwards. Whilst the company operates in a competitive marketplace, particularly around tendering, the Company has a good reputation in this area and regularly picks up new contracts. The Directors are confident that this will continue.

FUTURE DEVELOPMENTS

The company continues to look to safeguard the future and as part of that planning, two senior members of the management team, Mr K Mitchell and Mr A Harris, were appointed as Directors on 1st September 2024 which has been a huge success. We have also promoted two of our senior project management team to carry out roles as Contracts Managers to undertake the tasks that Keith & Andy were managing previously, and believe we have the correct team in place to keep us at the head of the queue in our niche for many years to come.

The company continues to have a healthy order book for the year ahead and will continue to strive for excellence and to remain a highly regarded company within our niche of the sector. The Directors expect continued growth at a steady and manageable rate in the years ahead.

COMMITMENT TO CHARITIES & LOCAL COMMUNITY

Elite is committed to the welfare of the greater community and each year we carefully select organisations and charities where we feel we can make a difference. 2025 saw us once again participate in the Mental Health World Cup which aims to promote good mental health awareness in the construction industry as well as providing a chance for people to meet up and make connections.

We also support many local teams and clubs that require kits, equipment & pitches.

We are also a big supporter of charity auctions when attending fund raising events and golf days etc.

WIDER COMMUNITY & OTHER GOALS

We are seeking to broaden our horizons on the sustainability side and consider ourselves an environmentally conscious organisation. We will be putting together a structured management plan to enable us to become a net zero organisation.

We would also like to consider working further afield and are currently looking into ways that we could become competitive whilst keeping up our good level of service in the Southern & Midlands regions.

ON BEHALF OF THE BOARD:

G R Barnes - Director

13 March 2026

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 AUGUST 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of electrical installation and general construction.

DIVIDENDS

The total distribution of dividends for the year ended 31 August 2025 was £599,000 (2024: £556,000).

DIRECTORS

G R Barnes has held office during the whole of the period from 1 September 2024 to the date of this report.

Other changes in directors holding office are as follows:

A Harris - appointed 1 September 2024

K Mitchell - appointed 1 September 2024

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, trade creditors, trade debtors, borrowings, operating leases and HP's. The main purpose of these instruments is to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest.

The loans and HP's liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

The company's operating lease commitments are in respect of the property from which the company operates. The liquidity risk in respect of these is managed in the same way as loans above.

The company's trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

CHARITABLE DONATIONS

During the year charitable donations totalled £7,393 (2024: £2,636).

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.

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 AUGUST 2025

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Ashdown Hurrey Auditors Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G R Barnes - Director

13 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ELITE ELECTRICAL CONTRACTING LIMITED

Opinion

We have audited the financial statements of Elite Electrical Contracting Limited (the 'company') for the year ended 31 August 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 August 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ELITE ELECTRICAL CONTRACTING LIMITED

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 four, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ELITE ELECTRICAL CONTRACTING LIMITED

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, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector in which the company operates;

- We focused on specific laws and regulations which we considered may have a direct impact material effect on the financial statements;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- Identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of sales;

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

- Investigated the rationale behind significant or unusual transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ELITE ELECTRICAL CONTRACTING LIMITED

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.

Simon Lawrence FCCA (Senior Statutory Auditor)

for and on behalf of Ashdown Hurrey Auditors Limited

Statutory Auditor

20 Havelock Road

Hastings

East Sussex

TN34 1BP

13 March 2026

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 AUGUST 2025

| 31.8.25 |  | 31.8.24

| Notes | £ | £ |

TURNOVER | 31,247,333 |  | 20,080,207 |  |

Cost of sales | (28,361,341 | ) | (17,164,216 | ) |

GROSS PROFIT | 2,885,992 |  | 2,915,991 |  |

Administrative expenses | (1,184,248 | ) | (1,001,394 | ) |

OPERATING PROFIT | 4 | 1,701,744 |  | 1,914,597 |  |

Interest receivable and similar income | 112,510 |  | 118,266 |  |

PROFIT BEFORE TAXATION | 1,814,254 |  | 2,032,863 |  |

Tax on profit | 5 | (503,330 | ) | (598,327 | ) |

PROFIT FOR THE FINANCIAL YEAR | 1,310,924 |  | 1,434,536 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,310,924 |  |

Prior year adjustment | 224,015 |  |

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT | 1,658,551 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

BALANCE SHEET

31 AUGUST 2025

| 31.8.25 | 31.8.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 49,898 |  | 59,345 |  |

CURRENT ASSETS

Stocks | 8 | 73,000 |  | 2,277,131 |  |

Debtors | 9 | 7,706,724 |  | 2,675,967 |  |

Cash at bank | 5,586,927 |  | 4,247,775 |  |

13,366,651 |  | 9,200,873 |  |

CREDITORS

Amounts falling due within one year | 10 | 4,186,648 |  | 3,963,015 |  |

NET CURRENT ASSETS | 9,180,003 |  | 5,237,858 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 9,229,901 |  | 5,297,203 |  |

CREDITORS

Amounts falling due after more than one year | 11 | (33,209 | ) | (39,791 | ) |

PROVISIONS FOR LIABILITIES | 13 | (3,242,192 | ) | (14,836 | ) |

NET ASSETS | 5,954,500 |  | 5,242,576 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 105 |  | 105 |  |

Capital redemption reserve | 15 | 995 |  | 995 |  |

Retained earnings | 15 | 5,953,400 |  | 5,241,476 |  |

SHAREHOLDERS' FUNDS | 5,954,500 |  | 5,242,576 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2026 and were signed on its behalf by:

G R Barnes - Director

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 AUGUST 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 September 2023 | 105 |  | 4,138,925 |  | 995 |  | 4,140,025 |  |

Prior year adjustment | - |  | 224,015 |  | - |  | 224,015 |  |

As restated | 105 |  | 4,362,940 |  | 995 |  | 4,364,040 |  |

Changes in equity

Dividends | - |  | (556,000 | ) | - |  | (556,000 | ) |

Total comprehensive income | - |  | 1,434,536 |  | - |  | 1,434,536 |  |

Balance at 31 August 2024 | 105 |  | 5,241,476 |  | 995 |  | 5,242,576 |  |

Changes in equity

Dividends | - |  | (599,000 | ) | - |  | (599,000 | ) |

Total comprehensive income | - |  | 1,310,924 |  | - |  | 1,310,924 |  |

Balance at 31 August 2025 | 105 |  | 5,953,400 |  | 995 |  | 5,954,500 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2025

| 31.8.25 |  | 31.8.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,509,762 |  | 1,130,474 |  |

Tax paid | (661,345 | ) | (274,301 | ) |

Net cash from operating activities | 1,848,417 |  | 856,173 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (11,862 | ) | (5,252 | ) |

Interest received | 112,510 |  | 118,266 |  |

Net cash from investing activities | 100,648 |  | 113,014 |  |

Cash flows from financing activities

Capital repayments in year | (6,582 | ) | (8,582 | ) |

Amount introduced by directors | 45,000 |  | 100,000 |  |

Amount withdrawn by directors | (49,331 | ) | (95,609 | ) |

Equity dividends paid | (599,000 | ) | (556,000 | ) |

Net cash from financing activities | (609,913 | ) | (560,191 | ) |

Increase in cash and cash equivalents | 1,339,152 |  | 408,996 |  |

Cash and cash equivalents at beginning of year | 2 | 4,247,775 |  | 3,838,779 |  |

Cash and cash equivalents at end of year | 2 | 5,586,927 |  | 4,247,775 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2025

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Profit before taxation | 1,814,254 |  | 2,032,863 |  |

| Depreciation charges | 21,308 |  | 37,323 |  |

| Anticipated contract costs | 3,229,717 |  | - |  |

| Finance income | (112,510 | ) | (118,266 | ) |

4,952,769 |  | 1,951,920 |  |

| Decrease/(increase) in stocks | 2,204,131 |  | (285,251 | ) |

| Increase in trade and other debtors | (5,030,755 | ) | (2,429,938 | ) |

| Increase in trade and other creditors | 383,617 |  | 1,893,743 |  |

| Cash generated from operations | 2,509,762 |  | 1,130,474 |  |

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 31 August 2025

| 31.8.25 |  | 1.9.24

£ | £ |

| Cash and cash equivalents | 5,586,927 |  | 4,247,775 |  |

| Year ended 31 August 2024

| 31.8.24 |  | 1.9.23

£ | £ |

| Cash and cash equivalents | 4,247,775 |  | 3,838,779 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.9.24 | Cash flow | At 31.8.25

£ | £ | £ |

| Net cash |

| Cash at bank | 4,247,775 |  | 1,339,152 |  | 5,586,927 |  |

4,247,775 |  | 1,339,152 |  | 5,586,927 |  |

| Debt

| Finance leases | (47,373 | ) | 6,582 |  | (40,791 | ) |

(47,373 | ) | 6,582 |  | (40,791 | ) |

| Total | 4,200,402 |  | 1,345,734 |  | 5,546,136 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. | STATUTORY INFORMATION

| Elite Electrical Contracting Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

| Going concern

| In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

| The company has positive net current assets and net assets, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. The directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

| Turnover

| Turnover is recognised when the work has been performed. Turnover represents amounts charged, net of value added tax, and adjusted for the value of work performed to date on contracts at the period end.

| When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the work completed to that date.

| Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

| When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 25% on cost

| Stocks

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

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Cash and cash equivalents

| 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 are shown within borrowings in current liabilities.

| Impairment of financial assets

| Financial asset, 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 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.

| 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 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.

| Hire purchase and leasing commitments

| 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.

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Employee benefits

| The cost of short-term employee benefits are recognised as a liability and an expenses.

| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Retirement benefits

| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. | EMPLOYEES AND DIRECTORS

| 31.8.25 |  | 31.8.24

£ | £ |

| Wages and salaries | 2,767,427 |  | 2,594,211 |  |

| Social security costs | 306,905 |  | 238,219 |  |

| Other pension costs | 88,359 |  | 83,570 |  |

3,162,691 |  | 2,916,000 |  |

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

| 31.8.25 |  | 31.8.24

| Employees | 45 |  | 36 |  |

| 31.8.25 |  | 31.8.24

£ | £ |

| Directors' remuneration | 12,000 |  | 5,000 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.8.25 |  | 31.8.24

£ | £ |

| Hire of plant and machinery | 167,048 |  | 132,395 |  |

| Other operating leases | 37,240 |  | 37,018 |  |

| Depreciation - owned assets | 21,309 |  | 37,322 |  |

| Auditors' remuneration | 30,000 |  | 30,000 |  |

| Auditors' remuneration for non audit work | 4,000 |  | 14,550 |  |

5. | TAXATION

| Analysis of the tax charge

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Current tax:

| UK corporation tax | 505,692 |  | 558,148 |  |

| Prior year tax | - |  | 48,197 |  |

| Total current tax | 505,692 |  | 606,345 |  |

| Deferred tax | (2,362 | ) | (8,018 | ) |

| Tax on profit | 503,330 |  | 598,327 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

5. | TAXATION - continued

| 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:

| 31.8.25 |  | 31.8.24

£ | £ |

| Profit before tax | 1,814,254 |  | 2,032,863 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 453,564 |  | 508,216 |  |

| Effects of:

| Expenses not deductible for tax purposes | 49,766 |  | 42,067 |  |

| Capital allowances in excess of depreciation | - |  | (153 | ) |

| Adjustments to tax charge in respect of previous periods | - |  | 48,197 |  |

| Total tax charge | 503,330 |  | 598,327 |  |

6. | DIVIDENDS

| 31.8.25 |  | 31.8.24

£ | £ |

| Ordinary shares of £1 each |

| Interim | 153,000 |  | 208,000 |  |

| B Shares shares of £1 each |

| Interim | 160,000 |  | 118,500 |  |

| C Shares shares of £1 each |

| Interim | 160,000 |  | 114,500 |  |

| D Shares shares of £1 each |

| Interim | 126,000 |  | 115,000 |  |

599,000 |  | 556,000 |  |

7. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 September 2024 | 5,566 |  | 15,411 |  | 93,967 |  | 194,348 |  | 309,292 |  |

| Additions | - |  | - |  | - |  | 11,862 |  | 11,862 |  |

| At 31 August 2025 | 5,566 |  | 15,411 |  | 93,967 |  | 206,210 |  | 321,154 |  |

| DEPRECIATION

| At 1 September 2024 | 5,566 |  | 15,341 |  | 47,251 |  | 181,789 |  | 249,947 |  |

| Charge for year | - |  | 70 |  | 11,679 |  | 9,560 |  | 21,309 |  |

| At 31 August 2025 | 5,566 |  | 15,411 |  | 58,930 |  | 191,349 |  | 271,256 |  |

| NET BOOK VALUE

| At 31 August 2025 | - |  | - |  | 35,037 |  | 14,861 |  | 49,898 |  |

| At 31 August 2024 | - |  | 70 |  | 46,716 |  | 12,559 |  | 59,345 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

8. | STOCKS

| 31.8.25 |  | 31.8.24

£ | £ |

| Stocks | 73,000 |  | 54,050 |  |

| Work-in-progress | - |  | 2,223,081 |  |

73,000 |  | 2,277,131 |  |

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Trade debtors | 6,572,185 |  | 1,166,342 |  |

| Other debtors | 26,504 |  | 32,181 |  |

| VAT | 754,596 |  | 487,245 |  |

| Accrued income | 200,000 |  | 320,998 |  |

| Prepayments | 153,439 |  | 669,201 |  |

7,706,724 |  | 2,675,967 |  |

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Hire purchase contracts (see note 12) | 7,582 |  | 7,582 |  |

| Trade creditors | 3,314,831 |  | 2,229,155 |  |

| Tax | 225,692 |  | 381,345 |  |

| Social security and other taxes | 200,806 |  | 173,839 |  |

| Other creditors | - |  | 1,000 |  |

| Directors' current accounts | 8 |  | 4,339 |  |

| Accrued expenses | 437,729 |  | 1,165,755 |  |

4,186,648 |  | 3,963,015 |  |

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Hire purchase contracts (see note 12) | 33,209 |  | 39,791 |  |

12. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31.8.25 |  | 31.8.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 7,582 |  | 7,582 |  |

| Between one and five years | 33,209 |  | 39,791 |  |

40,791 |  | 47,373 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

12. | LEASING AGREEMENTS - continued

| Non-cancellable |

| operating leases |

| 31.8.25 |  | 31.8.24

£ | £ |

| Within one year | 25,807 |  | 7,582 |  |

| Between one and five years | 34,409 |  | 39,791 |  |

60,216 |  | 47,373 |  |

13. | PROVISIONS FOR LIABILITIES

| 31.8.25 |  | 31.8.24

£ | £ |

| Deferred tax

| Accelerated capital allowances | 12,475 |  | 14,836 |  |

| Anticipated contract costs | 3,229,717 |  | - |  |

3,242,192 |  | 14,836 |  |

| Deferred |

| tax |

£ |

| Balance at 1 September 2024 | 14,836 |  |

| Provided during year | (2,361 | ) |

| Balance at 31 August 2025 | 12,475 |  |

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.8.25 |  | 31.8.24

| value: | £ | £ |

| 5 | Ordinary | £1 | 5 |  | 5 |  |

| 15 | C Shares | £1 | 15 |  | 10 |  |

| 15 | D Shares | £1 | 15 |  | 10 |  |

| 10 | E Shares | £1 | 10 |  | 10 |  |

45 |  | 35 |  |

| Allotted and issued:

| Number: | Class: | Nominal | 31.8.25 |  | 31.8.24

| value: | £ | £ |

| 60 | Share capital 2 | £1 | 60 |  | 70 |  |

15. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 September 2024 | 5,241,476 |  | 995 |  | 5,242,471 |  |

| Profit for the year | 1,310,924 |  | 1,310,924 |  |

| Dividends | (599,000 | ) | (599,000 | ) |

| At 31 August 2025 | 5,953,400 |  | 995 |  | 5,954,395 |  |

ELITE ELECTRICAL CONTRACTING LIMITED (REGISTERED NUMBER: 03790772)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

16. | RELATED PARTY DISCLOSURES

| At the year end the director Mr G Barnes owed the company £8 (2024: £4,339 owed from the company)

| During the year the company paid rent amounting to £37,240 (2024: £37,018) to the current director Mr G Barnes and former director Mr M Grigg in respect of the premises occupied by the company which is owned by them. The rent has been calculated on an arms length basis and the property is subject to occupation by consent of the director.

| Key management personnel of the entity or its parent (in the aggregate)

| 31.8.25 |  | 31.8.24

£ | £ |

| Salary and pension | 234,641 |  | 204,412 |  |

| Dividends | 599,000 |  | 556,000 |  |

| Other related parties

| 31.8.25 |  | 31.8.24

£ | £ |

| Transfers | 649 |  | - |  |

| Amount due from related party | 16,482 |  | - |  |