REGISTERED NUMBER: 04354234

Financial Statements

for the Year Ended 31 December 2025

for

Axelent Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Maxwell

A Gotmark

K J Sanden Ahlqvist

L E Axelsson

J P Wiik

REGISTERED OFFICE:

Hermes House

Fire Fly Avenue

Swindon

Wiltshire

SN2 2GA

REGISTERED NUMBER:

04354234

FIXED ASSETS

Tangible assets

5

16,182

28,230

CURRENT ASSETS

Stocks

6

191,642

206,796

Debtors

7

758,521

900,477

Cash at bank

459,874

263,794

1,410,037

1,371,067

CREDITORS

Amounts falling due within one year

8

1,200,314

1,099,897

NET CURRENT ASSETS

209,723

271,170

TOTAL ASSETS LESS CURRENT LIABILITIES

225,905

299,400

PROVISIONS FOR LIABILITIES

3,510

6,440

NET ASSETS

222,395

292,960

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

192,395

262,960

SHAREHOLDERS' FUNDS

222,395

292,960

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 and authorised for issue by the Board of Directors and authorised for issue on 21 April 2026 and were signed on its behalf by:

K J Sanden Ahlqvist - Director

1.	GENERAL INFORMATION

Axelent Limited is a private company, limited by shares , registered in Not specified/Other. 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

Summary of significant accounting policies

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

Going concern

For the year ended 31 December 2025 the Company incurred a loss before tax of £73,495 (2024: £68,336). As at 31 December 2025 the Company had net assets of £222,395 (2024: £292,960).

The company has the continuing support of the parent in providing funds when required and the directors have a reasonable expectation that the company will be able to continue in operation and meet its liabilities in the coming twelve months. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

Related party exemption

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting year can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Sales income includes turnover earned under a wide variety of contracts to supply safety solutions, as well as installation and repair services.

Turnover is recognised as contract activity progresses to the extent that the company obtains the right to consideration in exchange for its performance under these contracts and so that for incomplete contracts it reflects the partial performance of the contractual obligations. It is measured at the fair value of the right to consideration, by reference to the value of work performed, based on amounts chargeable to customers, excluding VAT.

Turnover earned but not billed to customers is included in accrued income and amounts billed in advance of the revenue being recognised are included in deferred income.Sales of goods are recognised on transfer of title of the goods on dispatch.

Interest income

Interest income is recognised using the effective interest method.

Tangible fixed assets

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

Improvements to property

-

in accordance with the property

Plant and machinery

-

Straight line over 10 years and Straight line over 3 years

Fixtures and fittings

-

Straight line over 10 years

Computer equipment

-

Straight line over 3 years and Straight line over 5 years

Tangible fixed assets are measured using the cost model. These assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged from when an asset is bought into use. Repairs and maintenance costs are expensed as incurred.The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Subsequent additions and major components

Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

Derecognition

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to sell. Stock is recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on the first -in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition.

At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

Financial instruments

The company is applying section 11 and 12 of FRS 102 in respect of recognition and measurement of financial statements.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising 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.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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

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.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

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.

Foreign currencies

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within finance (expense)/income. All other foreign exchange gains and losses are presented in the profit and loss account within administrative expenses.

Employee benefits

The company provides a range of benefits to employees, including paid holiday arrangements and defined benefit and defined contribution pension plans.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution pension plans

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Dividends

Dividends and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Finance costs

Finance costs are charged to the profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

16,818

18,413

76,149

68,444

179,824

Additions

-

-

-

4,406

4,406

At 31 December 2025

16,818

18,413

76,149

72,850

184,230

DEPRECIATION

At 1 January 2025

12,304

14,948

65,457

58,885

151,594

Charge for year

1,350

1,199

7,715

6,190

16,454

At 31 December 2025

13,654

16,147

73,172

65,075

168,048

NET BOOK VALUE

At 31 December 2025

3,164

2,266

2,977

7,775

16,182

At 31 December 2024

4,514

3,465

10,692

9,559

28,230

6.

STOCKS

2025

2024

£

£

Stocks

191,642

206,796

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

672,623

696,258

Amounts owed by group undertakings

-

1,743

Other debtors

12,463

18,873

Tax

8,699

78,702

Prepayments

64,736

104,901

758,521

900,477

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

188,046

91,236

Amounts owed to group undertakings

655,001

731,092

Social security and other taxes

207,683

198,583

Accruals and deferred income

149,584

78,986

1,200,314

1,099,897

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

50,732

76,117

Between one and five years

37,880

61,232

In more than five years

6,626

13,855

95,238

151,204

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

The Report of the Auditors was unqualified.

David Iain Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

11.

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