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REGISTERED NUMBER: 04631417 (England and Wales)

| Financial Statements |

| for the Year Ended 31 March 2026 |

| for |

| ESPEX BATTERIES LIMITED |

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Contents of the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2026

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| ESPEX BATTERIES LIMITED |

Company Information

FOR THE YEAR ENDED 31 MARCH 2026

| DIRECTORS: | A K Mukherjee

| A Ghosal

| Mrs L Farmer

| A K Roy

| REGISTERED OFFICE: | Fairway House

| Links Business Park

| St Mellons

| Cardiff

| South Glamorgan

| CF3 0LT

| REGISTERED NUMBER: | 04631417 (England and Wales)

| INDEPENDENT AUDITORS: | Hayvenhursts Limited

| Chartered Accountants & Statutory Auditor

| Fairway House

| Links Business Park

| St Mellons

| Cardiff

| CF3 0LT

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Statement of Financial Position

31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 5 | 420 |  | 2,100 |  |

Tangible assets | 6 | 1,151,522 |  | 1,224,905 |  |

1,151,942 |  | 1,227,005 |  |

CURRENT ASSETS

Stocks | 7 | 4,228,861 |  | 5,441,487 |  |

Debtors | 8 | 2,784,589 |  | 2,664,342 |  |

Cash at bank | 311,393 |  | 692,941 |  |

7,324,843 |  | 8,798,770 |  |

CREDITORS

Amounts falling due within one year | 9 | (5,007,938 | ) | (6,690,859 | ) |

NET CURRENT ASSETS | 2,316,905 |  | 2,107,911 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,468,847 |  | 3,334,916 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (540,959 | ) | (662,801 | ) |

PROVISIONS FOR LIABILITIES | (97,253 | ) | (102,348 | ) |

NET ASSETS | 2,830,635 |  | 2,569,767 |  |

CAPITAL AND RESERVES

Called up share capital | 102,000 |  | 102,000 |  |

Capital redemption reserve | 98,004 |  | 98,004 |  |

Retained earnings | 2,630,631 |  | 2,369,763 |  |

SHAREHOLDERS' FUNDS | 2,830,635 |  | 2,569,767 |  |

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Statement of Financial Position - continued

31 MARCH 2026

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 17 April 2026 and were signed on its behalf by:

A Ghosal - Director

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Notes to the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2026

1. | STATUTORY INFORMATION

| Espex Batteries 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.

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

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Significant judgements and estimates - going concern

| The financial statements are prepared under the going concern basis. The directors believe this is appropriate as they believe that the company has the necessary resources at its disposal to meet its liabilities as they fall due.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property | - | Straight line over 15 years

| Improvements to property | - | Straight line over 15 years

| Plant and machinery | - | 33% on cost, 25% on cost, 20% on cost and 10% on cost

| Motor vehicles | - | 33% on cost and 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.

| 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 statement of financial position date.

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2026

3. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| 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.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 34 (2025 - 32 ) .

5. | INTANGIBLE FIXED ASSETS

| Computer

| software

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 16,800 |  |

| AMORTISATION

| At 1 April 2025 | 14,700 |  |

| Amortisation for year | 1,680 |  |

| At 31 March 2026 | 16,380 |  |

| NET BOOK VALUE

| At 31 March 2026 | 420 |  |

| At 31 March 2025 | 2,100 |  |

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2026

6. | TANGIBLE FIXED ASSETS

| Improvements |

| Freehold |  | to |  | Plant and |  | Motor |

| property |  | property |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2025 | 1,051,505 |  | 327,471 |  | 255,856 |  | 525,060 |  | 2,159,892 |  |

| Additions | - |  | 49,994 |  | 20,756 |  | 157,055 |  | 227,805 |  |

| Disposals | - |  | - |  | - |  | (98,393 | ) | (98,393 | ) |

| At 31 March 2026 | 1,051,505 |  | 377,465 |  | 276,612 |  | 583,722 |  | 2,289,304 |  |

| DEPRECIATION

| At 1 April 2025 | 490,702 |  | 105,890 |  | 111,849 |  | 226,546 |  | 934,987 |  |

| Charge for year | 70,100 |  | 30,913 |  | 32,809 |  | 163,717 |  | 297,539 |  |

| Eliminated on disposal | - |  | - |  | - |  | (94,744 | ) | (94,744 | ) |

| At 31 March 2026 | 560,802 |  | 136,803 |  | 144,658 |  | 295,519 |  | 1,137,782 |  |

| NET BOOK VALUE

| At 31 March 2026 | 490,703 |  | 240,662 |  | 131,954 |  | 288,203 |  | 1,151,522 |  |

| At 31 March 2025 | 560,803 |  | 221,581 |  | 144,007 |  | 298,514 |  | 1,224,905 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Improvements |

| to |  | Plant and |  | Motor |

| property |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2025 | 189,637 |  | 53,928 |  | 525,061 |  | 768,626 |  |

| Additions | 45,000 |  | - |  | 102,965 |  | 147,965 |  |

| Disposals | - |  | - |  | (98,393 | ) | (98,393 | ) |

| At 31 March 2026 | 234,637 |  | 53,928 |  | 529,633 |  | 818,198 |  |

| DEPRECIATION

| At 1 April 2025 | 45,182 |  | 5,351 |  | 226,546 |  | 277,079 |  |

| Charge for year | 20,099 |  | 5,351 |  | 151,322 |  | 176,772 |  |

| Eliminated on disposal | - |  | - |  | (94,744 | ) | (94,744 | ) |

| At 31 March 2026 | 65,281 |  | 10,702 |  | 283,124 |  | 359,107 |  |

| NET BOOK VALUE

| At 31 March 2026 | 169,356 |  | 43,226 |  | 246,509 |  | 459,091 |  |

| At 31 March 2025 | 144,455 |  | 48,577 |  | 298,515 |  | 491,547 |  |

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2026

7. | STOCKS

2026 | 2025 |

£ | £ |

| Stocks | 4,228,861 |  | 5,441,487 |  |

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

2026 | 2025 |

£ | £ |

| Trade debtors | 2,485,212 |  | 2,639,398 |  |

| Other debtors | 269,541 |  | 71 |  |

| Prepayments | 29,836 |  | 24,873 |  |

2,784,589 |  | 2,664,342 |  |

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

2026 | 2025 |

£ | £ |

| Bank loans and overdrafts (see note 11) | 53,925 |  | 50,370 |  |

| Hire purchase contracts (see note 12) | 184,659 |  | 174,284 |  |

| Trade creditors | 2,784,582 |  | 4,587,908 |  |

| Tax | 140,497 |  | 145,667 |  |

| Social security and other taxes | 353,985 |  | 190,434 |  |

| Other creditors | 182,081 |  | 273,709 |  |

| Accruals and deferred income | 1,308,209 |  | 1,268,487 |  |

5,007,938 |  | 6,690,859 |  |

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

2026 | 2025 |

£ | £ |

| Bank loans (see note 11) | 363,784 |  | 421,267 |  |

| Hire purchase contracts (see note 12) | 177,175 |  | 241,534 |  |

540,959 |  | 662,801 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 148,084 |  | 219,787 |  |

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2026

11. | LOANS

| An analysis of the maturity of loans is given below:

2026 | 2025 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 53,925 |  | 50,370 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 53,925 |  | 50,370 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 161,775 |  | 151,110 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 148,084 |  | 219,787 |  |

12. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2026 | 2025 |

£ | £ |

| Net obligations repayable:

| Within one year | 184,659 |  | 174,284 |  |

| Between one and five years | 177,175 |  | 241,534 |  |

361,834 |  | 415,818 |  |

| Non-cancellable |

| operating leases |

2026 | 2025 |

£ | £ |

| Within one year | 70,937 |  | 65,776 |  |

| Between one and five years | 8,304 |  | 59,703 |  |

79,241 |  | 125,479 |  |

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2026

13. | SECURED DEBTS

| The following secured debts are included within creditors:

2026 | 2025 |

£ | £ |

| Bank loans | 417,709 |  | 471,637 |  |

| Hire purchase contracts | 361,834 |  | 415,818 |  |

779,543 |  | 887,455 |  |

14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Stephen Cox (Senior Statutory Auditor)

| for and on behalf of Hayvenhursts Limited

15. | CAPITAL COMMITMENTS

2026 | 2025 |

£ | £ |

| Contracted but not provided for in the

| financial statements | 56,167 |  | 177,090 |  |

| ESPEX BATTERIES LIMITED (REGISTERED NUMBER: 04631417) |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2026

16. | AUDITOR LIABILITY LIMITATION AGREEMENT

| As perscribed in the audit engagement letter for the year ended 31 March 2026 the advice given by our Auditors is for our sole use and does not constitute advice to any third party to whom we may communicate it.

| Our Auditor will provide the professional services outlined in that engagement letter with reasonable care and skill. However, they will not be responsible for any losses, penalties, surcharges, interest or additional tax liabilities arising from the supply by ourselves or others of incorrect or incomplete information, or from the failure by ourselves or others to supply any appropriate information or our failure to act on their advice or respond promptly to communications from them or the tax authorities.

| We agreed to hold harmless and indemnify our Auditor against any misrepresentation (intentional or unintentional) supplied to our Auditor orally or in writing in connection with this agreement. We have agreed that we will not bring any claim in connection with services provided to the the company by the Audit firm against any of its employees on a personal basis.

| We will not hold our Auditor, or their principles,or their directors or their staff, responsible, to the fullest extent permitted by law, for any loss suffered by us arising from any misrepresentation (Intentional or unintentional) supplied to our Auditors orally or in writing in connection with services they provide to the company, against any of their directors or employees personally.

| The Auditors' work is not, unless there is a legal or regulatory requirement, to be made available to third parties without their written permission and they will accept no responsibility to third parties for any aspect of their professional services or work that is made available.