REGISTERED NUMBER: 09428422 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

2 APPLES LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

17

DIRECTOR:

Mr AK Newton

REGISTERED OFFICE:

2Apples House

Centurion Way

Meridian Business Park

Braunstone

Leicestershire

LE19 1WH

REGISTERED NUMBER:

09428422 (England and Wales)

SENIOR STATUTORY AUDITOR:

Westleigh Scales FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

BANKERS:

Royal Bank of Scotland

36 St. Andrew Square

Edinburgh

EH2 2YB

The director presents his strategic report for the year ended 31 July 2025.

2 Apples Limited is a holding company of a group specialising in boilers, plumbing, heating and related domestic services.

REVIEW OF BUSINESS

The results for the year and financial position of the group are as shown in the annexed financial statements.

Performance of the business and Outlook

Turnover has increased by £1.9m (18.7%) on 2024, in line with budgeted figures, with gross profit margin being maintained at 28%.

Our KPI's for the year show how much we have achieved this year:

KPI's £

2025

2024

Turnover

12,111

10,202

Gross Profit %

28.30

28.63

Operating Profit

475

634

Operating Profit %

3.92

6.21

Net Profit/(Loss)

340

477

Net Assets

4,899

4,557

PRINCIPAL RISKS AND UNCERTAINTIES

The group manages liquidity risk by ensuring that there are sufficient funds to meet amounts due to trade creditors and loan repayments. Trade debtors are managed in respect of credit and cash flow risk by regular monitoring of amounts outstanding in terms of time and credit limits.

Our experienced management team and financial position enable us to be well positioned to continue the successful growth and development of the company. The directors are responsible for the maintenance of the company's website https://www.ukgasservices.co.uk.

ON BEHALF OF THE BOARD:

Mr AK Newton - Director

30 April 2026

The director presents his report with the financial statements of the company and the group for the year ended 31 July 2025.

DIVIDENDS

The company’s total dividend distribution for the year ended 31 July 2025 was £97,778 (2024 - £97,778), paid out of distributable reserves.

DIRECTOR

Mr AK Newton held office during the whole of the period from 1 August 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he 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 group's auditors are aware of that information.

AUDITORS

The auditors, Mark J Rees LLP Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr AK Newton - Director

30 April 2026

Opinion

We have audited the financial statements of 2 Apples Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 July 2025 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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, 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.

We have determined that the principal risk areas where material irregularities could occur were related to the posting of manual journal entries to manipulate financial performance, revenue recognition, significant one-off or unusual transactions and going concern.

Our audit procedures were designed to respond in particular to these identified risks (including non compliance with laws and regulations and fraud).

Our audit procedures included but were not limited to:

- A review of a sample of both private and contracted sales in the year to ensure these were correctly recorded in revenue and detailed cut off testing around the year end to ensure revenue is correctly stated.

- A review of a sample of sales accruals to ensure their accuracy and reasonableness.

- A review of the relevant certifications and accreditations to ensure that the company is certified as required for carrying out their work in line with industry standards.

- Addressing the risks of fraud through management override of controls by performing journal entry testing.

- A review of the going concern status of the company through discussions with management and an analysis of forecasts prepared up to 12 months following audit sign off.

We did not identify any matters during the course of our work that indicated non-compliance with laws and regulations or relating to fraud.

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.

Westleigh Scales FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

1 May 2026

TURNOVER

4

12,111,329

10,202,172

Cost of sales

8,683,322

7,280,952

GROSS PROFIT

3,428,007

2,921,220

Distribution costs

936,264

845,906

Administrative expenses

(1,413,479

)

1,484,809

(477,215

)

2,330,715

OPERATING PROFIT

6

3,905,222

590,505

Interest payable and similar expenses

8

68,284

74,635

PROFIT BEFORE TAXATION

3,836,938

515,870

Tax on profit

9

261,196

145,463

PROFIT FOR THE FINANCIAL YEAR

3,575,742

370,407

Profit attributable to:

Owners of the parent

3,575,742

370,407

PROFIT FOR THE YEAR

3,575,742

370,407

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,575,742

370,407

Total comprehensive income attributable to:

Owners of the parent

3,575,742

370,407

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

-

9,817

Investments

15

-

-

-

9,817

CURRENT ASSETS

Stocks

16

42,110

66,905

Debtors

17

2,371,105

1,520,615

Cash at bank and in hand

41,556

314,829

2,454,771

1,902,349

CREDITORS

Amounts falling due within one year

18

3,061,909

2,086,912

NET CURRENT LIABILITIES

(607,138

)

(184,563

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(607,138

)

(174,746

)

CREDITORS

Amounts falling due after more than one year

19

-

(3,868,455

)

PROVISIONS FOR LIABILITIES

23

(33,661

)

(75,562

)

NET LIABILITIES

(640,799

)

(4,118,763

)

CAPITAL AND RESERVES

Called up share capital

24

100

100

Retained earnings

25

(640,899

)

(4,118,863

)

SHAREHOLDERS' FUNDS

(640,799

)

(4,118,763

)

The financial statements were approved by the director and authorised for issue on 30 April 2026 and were signed by:

Mr AK Newton - Director

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

-

-

Investments

15

2,323,764

5,165,764

2,323,764

5,165,764

CURRENT ASSETS

Debtors

17

2,508,488

2,507,898

Cash at bank

460

4,005

2,508,948

2,511,903

CREDITORS

Amounts falling due within one year

18

4,342,427

3,654,538

NET CURRENT LIABILITIES

(1,833,479

)

(1,142,635

)

TOTAL ASSETS LESS CURRENT LIABILITIES

490,285

4,023,129

CREDITORS

Amounts falling due after more than one year

19

-

3,830,122

NET ASSETS

490,285

193,007

CAPITAL AND RESERVES

Called up share capital

24

100

100

Retained earnings

490,185

192,907

SHAREHOLDERS' FUNDS

490,285

193,007

Company's profit for the financial year

395,057

96,261

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 30 April 2026 and were signed by:

Mr AK Newton - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 August 2023

100

(4,391,492

)

(4,391,392

)

Changes in equity

Dividends

-

(97,778

)

(97,778

)

Total comprehensive income

-

370,407

370,407

Balance at 31 July 2024

100

(4,118,863

)

(4,118,763

)

Changes in equity

Dividends

-

(97,778

)

(97,778

)

Total comprehensive income

-

3,575,742

3,575,742

Balance at 31 July 2025

100

(640,899

)

(640,799

)

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 August 2023

100

194,424

194,524

Changes in equity

Dividends

-

(97,778

)

(97,778

)

Total comprehensive income

-

96,261

96,261

Balance at 31 July 2024

100

192,907

193,007

Changes in equity

Dividends

-

(97,778

)

(97,778

)

Total comprehensive income

-

395,057

395,057

Balance at 31 July 2025

100

490,186

490,286

Cash flows from operating activities

Cash generated from operations

1

2,833,448

619,285

Interest paid

(9,008

)

(15,359

)

Finance costs paid

(59,276

)

(59,276

)

Tax paid

(143,816

)

(98,642

)

Net cash from operating activities

2,621,348

446,008

Cash flows from financing activities

Loan repayments in year

(196,000

)

(227,250

)

Loan discount

(2,842,000

)

-

Equity dividends paid

(97,778

)

(97,778

)

Net cash from financing activities

(3,135,778

)

(325,028

)

(Decrease)/increase in cash and cash equivalents

(514,430

)

120,980

Cash and cash equivalents at beginning of year

2

314,829

193,849

Cash and cash equivalents at end of year

2

(199,601

)

314,829

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

2025

2024

as restated

£

£

Profit before taxation

3,836,938

515,870

Depreciation charges

9,817

11,899

Warranty provision

(40,564

)

(148,667

)

Finance costs

68,284

74,635

3,874,475

453,737

Decrease in stocks

24,795

6,788

(Increase)/decrease in trade and other debtors

(850,489

)

98,699

(Decrease)/increase in trade and other creditors

(215,333

)

60,061

Cash generated from operations

2,833,448

619,285

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 July 2025

31.7.25

1.8.24

£

£

Cash and cash equivalents

41,556

314,829

Bank overdrafts

(241,157

)

-

(199,601

)

314,829

Year ended 31 July 2024

31.7.24

1.8.23

as restated

£

£

Cash and cash equivalents

314,829

193,849

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.8.24

Cash flow

At 31.7.25

£

£

£

Net cash

Cash at bank and in hand

314,829

(273,273

)

41,556

Bank overdrafts

-

(241,157

)

(241,157

)

314,829

(514,430

)

(199,601

)

Debt

Debts falling due within 1 year

(196,000

)

(267,334

)

(463,334

)

Debts falling due after 1 year

(3,305,333

)

3,305,333

-

(3,501,333

)

3,037,999

(463,334

)

Total

(3,186,504

)

2,523,569

(662,935

)

1.	STATUTORY INFORMATION

2 Apples 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 General 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'' 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.

Basis of consolidation

The group financial statements consolidate those of the company and of its subsidiary undertakings drawn up to 31 July 2025. These consolidated financial statements incorporate the financial statements of the company and its wholly-owned subsidiaries. All intergroup transactions, balances, income and expenses are eliminated.

On acquisition of a subsidiary, all of the subsidiary's assets and liabilities which exist at the date of acquisition are recorded at their fair values reflecting their condition at that date.

Significant judgements and estimates

There were no areas in which the preparation of the financial statements required to make significant judgements or estimates.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Turnover in respect of private work is recognised at the point the work is completed.

Contract income

Turnover on uncompleted contracts is recognised where the outcome can be estimated reliably, contract income is recognised by reference to the stage of completion to the extent that services have been performed and work completed.

Performance is measured based on a percentage of the work completed.

Assets arising from recognition of revenue are recorded in debtors due within one year, initially as amounts recoverable on contracts and transferred to debtors when invoiced.

Amounts received from customers for services not yet recognised as revenue are initially classified as payments received in advance on contracts within creditors.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website and software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Tangible fixed assets under the cost model 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 provided at the following annual rates in order to write off each asset over its estimated useful life

Plant and machinery - 25% on cost

Fixtures and fittings - 33% on cost

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Warranty provision

Provision is made for the estimated liability on all products still under warranty, including claims already received.

Where works undertaken are part of an order or contract that includes customer retentions then the provision is based on an estimate of the likely cost of any potential call backs during the warranty period. For all other works the provision is based on past experience of claims arising in the warranty period.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Going concern

After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its financial statements.

Operating leases

Operating lease rentals are charged in the profit and loss account on a straight line basis over the lease term.

4.

TURNOVER

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