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Registered number: 10514342 ACCENT HOLDINGS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
ACCENT HOLDINGS LIMITED COMPANY INFORMATION
Directors | J P S Curry
| I Marriott
| P J Tyler
| G A Felgate
| J H L Curry
Registered number | 10514342
Registered office | Field Lodge
| Steventon
| Hampshire
| United Kingdom
| RG25 3AY
Independent auditors | Barnes Roffe Audit Limited
| Chartered Accountants & Statutory Auditors
| 3 Brook Business Centre
| Cowley Mill Road
| Uxbridge
| Middlesex
| UB8 2FX
ACCENT HOLDINGS LIMITED CONTENTS
| Page
Group strategic report | 1 - 4
Directors' report | 5 - 7
Independent auditors' report | 8 - 12
Consolidated statement of comprehensive income | 13
Consolidated statement of financial position | 14
Company statement of financial position | 15
Consolidated statement of changes in equity | 16
Company statement of changes in equity | 17
Consolidated statement of cash flows | 18 - 19
Consolidated analysis of net debt | 20
Notes to the financial statements | 21 - 39
ACCENT HOLDINGS LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 1. Introduction The directors present their Group strategic report for the year ended 31 December 2025. Accent Holdings Limited (“the Group”) continued to perform strongly in 2025, building on the momentum achieved in 2024. The business remains well positioned within the UK air conditioning and chiller services market, supported by long standing customers, technical capability, and a strong reputation for service quality. 2. Business review 2.1 Financial performance The subsidiary company and main trading operation delivered another solid year of financial performance, with turnover exceeding £20.1m (2024 - £19.5m), reflecting strong growth in the Service division. Headline results (year ended 31 December 2025) Revenue: £20,107,411 Gross Profit: £6,776,358 Gross Margin: 33.7% Profit Before Tax: £1,390,069 2.2 Operational performance 2025 saw continued progress across the Group’s operations: ∙The Manchester office continued to scale, improving utilisation of engineers and strengthening regional presence. ∙The Bristol office delivered steady performance but still presents further growth potential. ∙The business opened a dedicated technical training centre, designed to accelerate the development of apprentices, new engineers, and up skilling of existing staff. ∙Service delivery KPIs such as first time fix rate, response times and SLA adherence remained at acceptable levels, though continued pressure existed due to labour shortages in the industry. ∙The Group maintained its high standards of customer service, supported by investment in internal systems and process improvements. 3. Market and sector The UK air conditioning and refrigeration sector remained resilient in 2025 but was affected by the slow down in office construction and the additional NI costs which impacted labour costings across the industry. Key factors influencing demand included: ∙Regulatory and compliance requirements (F Gas, efficiency standards, safety legislation). ∙Increased building utilisation post pandemic and ongoing emphasis on indoor air quality. ∙Replacement cycles for ageing systems in commercial buildings. ∙Continued growth in data centre cooling and specialist environments. Competitive pressure remains present, particularly in margins, but Accent Services continues to differentiate through service quality, responsiveness, and engineering capability. Page 1
ACCENT HOLDINGS LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
4. Principal risks and uncertainties
The directors have reviewed the principal risks affecting the business. There were no significant changes during the year, with the exception of tight labour market conditions making recruitment of high quality engineers increasingly difficult. The principal risks and uncertainties are:
Risk | Inherent risk assessment | Residual risk assessment | Change since 2024 | Managed/Mitigated | Oversight responsibility
Recruitment and Retention of skilled engineers | High | High | Worsening | Top quartile pay and benefits. Clear career pathways Investment in the new training centre. Strong apprenticeship and trainee development programmes | CEO
Cyber Security and IT Failure | High | High | Unchanged | Mitigated via third-party IT provider, multilayered protections, and ongoing system reviews. | CEO
Adverse economic environment | High | Medium | Unchanged | Inflation, wage pressures and interest rate environment may impact margins and customer budgets. Mitigated via regular monitoring and flexible pricing strategies. | CEO & CFO
Bad debt | High | Medium | Unchanged | Remains tightly controlled via credit checks, approval limits, and close monitoring | CEO & CFO
Page 2
ACCENT HOLDINGS LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Principal risks and uncertainties (continued)
Risk | Inherent risk assessment | Residual risk assessment | Change since 2024 | Managed/Mitigated | Oversight responsibility
Fraud risk | Medium | Medium | Unchanged | Controlled via segregation of duties, approval controls and oversight | CEO & CFO
Operational disruption | Medium | Medium | Unchanged | External events (e.g., supply chain delays, site access issues) remain a risk. | CEO & Projects Operations Director and Service Director
Margin Pressure | High | Medium | Unchanged | Competitive environment continues to apply pricing pressure. | CEO, Sales Director, Projects & Technical Director
Stakeholder perception | Medium | Low | Unchanged | Regular services and direct customer and staff contact is originated by the CEO. | CEO
Health and Safety | Medium | Low | Improving | Always a core operational risk managed through training, site audits and director level oversight | CEO and Health and Safety Director
5. Section 172 Statement (Stakeholder Engagement) In performing their duties under Section 172 of the Companies Act 2006, the directors have had regard to the interests of stakeholders. Key considerations in 2025 included: Employees • Continued investment in training, apprenticeships and career development. • Strengthening management structures and communication channels. • Review of pay and benefits to remain competitive. Customers • Focus on service quality and responsiveness. • Ongoing discussions to understand customer needs, especially around compliance and efficiency. Suppliers • Stable supplier relationships, important given industry supply chain pressures. • Continued work with key manufacturers and distributors to manage lead times and pricing. Page 3
ACCENT HOLDINGS LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Community and environment • Increasing emphasis on compliance, safety and responsible working practices. • Supporting low impact refrigerants and maintaining best environmental practice through safe handling and disposal. Long term decision making • Investment in a training centre is intended to strengthen future workforce capability. • Technology investments continue to support long term operational efficiency. 6. Outlook for 2026 The directors expect 2026 to remain a positive year for the Group. Opportunities include: • Strengthening the training centre to build internal talent pipelines. • Growth in contracted maintenance as customers focus on compliance and reliability. • Moderate expansion of the Manchester and Bristol operations. • Continued improvement of IT systems and reporting processes. • Margin stability supported by improved project management and pricing discipline. Risks remain around recruitment, wage inflation and competitive pricing, but the Group is well positioned to manage these pressures. This report was approved by the board on 19 May 2026 and signed on its behalf.
J P S Curry Director
Page 4
ACCENT HOLDINGS LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Group's financial statements and then apply them consistently; ∙make judgments 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Going concern At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of not less than twelve months from the date of approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Results and dividends
The profit for the year, after taxation, amounted to £873,458 (2024 - £1,175,634). Ordinary dividends were paid amounting to £875,753 (2024 - £1,154,004). The directors do not recommend payment of a further dividend for the year ended 31 December 2025.
Directors
The directors who served during the year were:
J P S Curry
I Marriott
P J Tyler
G A Felgate
J H L Curry
Page 5
ACCENT HOLDINGS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Financial risk management
The Company’s financial risk management policies are consistent with prior years and include controls over credit risk, liquidity, interest rate exposure, and operational risk. Measures include credit limit controls and ongoing reviews by the finance team — consistent with historic disclosures in the Company’s statutory accounts. Employee matters The group places significant emphasis on recruitment, retention, and development of staff. Apprenticeships, technical training, and internal progression frameworks support long term capability. The business operates an equal opportunities policy and ensures that all employees have access to training and development opportunities. Disabled persons statement The group is committed to equal opportunities in employment for disabled persons. Applications from disabled candidates are given full and fair consideration, and every effort is made to support employees who become disabled during their employment, including retraining and reasonable adjustments. Directors’ indemnities The Company maintains directors’ and officers’ liability insurance for the benefit of all directors, consistent with the provisions of the Companies Act 2006. No qualifying third party indemnities were granted during the year other than those permitted by law. Matters covered in the Group strategic report The company has chosen in accordance with section 414C of the Companies Act 2006, to set out the following information, which would otherwise be included in the Directors' report, in the Group strategic report: financial risk management, business review and future developments.
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.
Post balance sheet events
There have been no subsequent events that require disclosure or adjustments to the financial statements.
Auditors
During the year, Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006. Page 6
ACCENT HOLDINGS LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 This report was approved by the board on 19 May 2026 and signed on its behalf.
J P S Curry Director
Page 7
ACCENT HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED
Opinion
We have audited the financial statements of Accent Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, 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's affairs as at 31 December 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 United Kingdom, including the Financial Reporting Council'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 Group's or 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 directors with respect to going concern are described in the relevant sections of this report. Page 8
ACCENT HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group strategic report and the Directors' report 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 Directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit. Page 9
ACCENT HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 5, 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 is 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 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 directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so. Auditors' responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report 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. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, 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 discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector; ∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows: °Companies Act 2006. °FRS102. °Employment legislation. °Tax legislation. ∙We assessed the extent of compliance with the laws and regulations identified above through making inquiries of directors and other management; ∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of noncompliance throughout the audit; and ∙As auditors of all group companies we were able to cover the above matters at a group and component level and thereby ensure the audit team were aware of the above matters across all group companies. Page 10
ACCENT HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED) We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: ∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; ∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; ∙Reviewing the financial statements and testing the disclosures against supporting documentation; ∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies; ∙Inspecting and testing journal entries to identify unusual or unexpected transactions; ∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and ∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business. The areas that we identified as being susceptible to misstatement through fraud were: ∙Management bias in the estimates and judgements made; ∙Management override of controls; and ∙Posting of unusual journals or 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 Auditors' report. Page 11
ACCENT HOLDINGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED)
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 an Auditors' report 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. Elliot S J Arwas (Senior statutory auditor) for and on behalf of Barnes Roffe Audit Limited Chartered Accountants & Statutory Auditors 3 Brook Business Centre Cowley Mill Road Uxbridge Middlesex UB8 2FX 20 May 2026 Page 12
ACCENT HOLDINGS LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 20,107,411 | 19,511,908
Cost of sales |  | (13,331,053) | (12,522,179)
Gross profit |  | 6,776,358 | 6,989,729
Administrative expenses |  | (5,411,760) | (5,103,747)
Operating profit | 5 | 1,364,598 | 1,885,982
Revaluation of investments |  | 42,612 | (287,212)
Interest receivable and similar income | 9 | 95 | 16,667
Interest payable and similar expenses | 10 | (17,236) | (16,510)
Profit before taxation |  | 1,390,069 | 1,598,927
Tax on profit | 11 | (516,611) | (423,293)
Profit for the financial year |  | 873,458 | 1,175,634
Total comprehensive income for the year |  | 873,458 | 1,175,634
The notes on pages 21 to 39 form part of these financial statements.
Page 13
ACCENT HOLDINGS LIMITED REGISTERED NUMBER: 10514342 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Intangible assets | 13 |  | 426,566 |  | 812,912
Tangible assets | 14 |  | 1,235,243 |  | 1,050,386
Investments | 15 |  | 393,820 |  | 351,208
|  |  | 2,055,629 |  | 2,214,506
Current assets |  |  |  |  |
Stocks | 16 | 187,543 |  | 137,196 |
Debtors: amounts falling due within one year | 17 | 3,645,945 |  | 3,887,578 |
Cash at bank and in hand | 18 | 3,109,628 |  | 2,798,227 |
|  | 6,943,116 |  | 6,823,001 |
Creditors: amounts falling due within one year | 19 | (3,217,476) |  | (3,391,570) |
Net current assets |  |  | 3,725,640 |  | 3,431,431
Total assets less current liabilities |  |  | 5,781,269 |  | 5,645,937
Creditors: amounts falling due after more than one year | 20 |  | (96,169) |  | (105,244)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 23 |  | (220,422) |  | (98,720)
Net assets |  |  | 5,464,678 |  | 5,441,973
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 2,927,510 |  | 2,902,510
Investment property reserve | 25 |  | (163,093) |  | (195,052)
Profit and loss account | 25 |  | 2,700,261 |  | 2,734,515
|  |  | 5,464,678 |  | 5,441,973
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2026.
J P S Curry
Director
The notes on pages 21 to 39 form part of these financial statements. Page 14
ACCENT HOLDINGS LIMITED REGISTERED NUMBER: 10514342 COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Investments | 15 |  | 5,534,644 |  | 5,534,644
|  |  | 5,534,644 |  | 5,534,644
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 17 | - |  | 145 |
Cash at bank and in hand | 18 | 203,272 |  | 147,049 |
|  | 203,272 |  | 147,194 |
Creditors: amounts falling due within one year | 19 | (236,743) |  | (197,331) |
Net current liabilities |  |  | (33,471) |  | (50,137)
Total assets less current liabilities |  |  | 5,501,173 |  | 5,484,507
Net assets |  |  | 5,501,173 |  | 5,484,507
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 2,927,510 |  | 2,902,510
Profit and loss account brought forward | 25 | 2,581,997 |  | 2,827,167 |
Profit for the year | 25 | 867,419 |  | 908,834 |
Other changes in the Profit and loss account | 25 | (875,753) |  | (1,154,004) |
Profit and loss account carried forward | 25 |  | 2,573,663 |  | 2,581,997
|  |  | 5,501,173 |  | 5,484,507
As permitted by s408 Companies Act 2006, the company has not presented its own the Statement of comprehensive income account and related notes. The Company's profit for the year was £867,419 (2024 - £908,834). The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2026.
J P S Curry
Director
The notes on pages 21 to 39 form part of these financial statements. Page 15
ACCENT HOLDINGS LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2025 | 2,902,510 | (195,052) | 2,734,515 | 5,441,973
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 873,458 | 873,458
Transfer of revaluation | - | 31,959 | (31,959) | -
Total comprehensive income for the year | - | 31,959 | 841,499 | 873,458
Dividends: Equity capital | - | - | (875,753) | (875,753)
Shares issued during the year | 25,000 | - | - | 25,000
At 31 December 2025 | 2,927,510 | (163,093) | 2,700,261 | 5,464,678
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2024 | 2,867,510 | 27,143 | 2,490,690 | 5,385,343
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 1,175,634 | 1,175,634
Transfer of revaluation | - | (222,195) | 222,195 | -
Total comprehensive income for the year | - | (222,195) | 1,397,829 | 1,175,634
Dividends: Equity capital | - | - | (1,154,004) | (1,154,004)
Shares issued during the year | 35,000 | - | - | 35,000
At 31 December 2024 | 2,902,510 | (195,052) | 2,734,515 | 5,441,973
| The notes on pages 21 to 39 form part of these financial statements.
Page 16
ACCENT HOLDINGS LIMITED COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2025 | 2,902,510 | 2,581,997 | 5,484,507
Comprehensive income for the year |  |  |
Profit for the year | - | 867,419 | 867,419
Total comprehensive income for the year | - | 867,419 | 867,419
Dividends: Equity capital | - | (875,753) | (875,753)
Shares issued during the year | 25,000 | - | 25,000
At 31 December 2025 | 2,927,510 | 2,573,663 | 5,501,173
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 2,867,510 | 2,827,167 | 5,694,677
Comprehensive income for the year |  |  |
Profit for the year | - | 908,834 | 908,834
Total comprehensive income for the year | - | 908,834 | 908,834
Dividends: Equity capital | - | (1,154,004) | (1,154,004)
Shares issued during the year | 35,000 | - | 35,000
At 31 December 2024 | 2,902,510 | 2,581,997 | 5,484,507
| The notes on pages 21 to 39 form part of these financial statements.
Page 17
ACCENT HOLDINGS LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 873,458 | 1,175,634
Adjustments for: |  |
Amortisation of intangible assets | 386,346 | 386,346
Depreciation of tangible assets | 374,479 | 294,864
Loss/(profit) on disposal of tangible assets | (11,236) | (15,299)
Revaluation of investments | (42,612) | 287,212
Interest payable | 17,236 | 16,510
Interest receivable | (95) | (16,667)
Taxation charge | 516,611 | 423,293
(Increase)/decrease in stocks | (50,347) | 60,240
Decrease in debtors | 241,633 | 228,646
(Decrease) in creditors | (182,424) | (334,992)
Corporation tax paid | (357,660) | (590,466)
Net cash generated from operating activities | 1,765,389 | 1,915,321
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (590,904) | (661,831)
Sale of tangible fixed assets | 42,804 | 52,644
Purchase of listed investments | - | (249,400)
Interest received | 95 | 16,667
Hire purchase interest paid | (17,236) | (16,510)
Net cash used in investing activities | (565,241) | (858,430)
Page 18
ACCENT HOLDINGS LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
|  | 2025 | 2024
|  | £ | £
Cash flows from financing activities |  |
Issue of ordinary shares | 25,000 | 35,000
Finance leases | (37,994) | (12,238)
Dividends paid | (875,753) | (1,154,004)
Net cash used in financing activities | (888,747) | (1,131,242)
Net increase/(decrease) in cash and cash equivalents | 311,401 | (74,351)
Cash and cash equivalents at beginning of year | 2,798,227 | 2,872,578
Cash and cash equivalents at the end of year | 3,109,628 | 2,798,227
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 3,109,628 | 2,798,227
| 3,109,628 | 2,798,227
The notes on pages 21 to 39 form part of these financial statements.
Page 19
ACCENT HOLDINGS LIMITED CONSOLIDATED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 DECEMBER 2025
| At 1 January 2025 | Cash flows | At 31 December 2025
| £ | £ | £
Cash at bank and in hand | 2,798,227 | 311,401 | 3,109,628
Finance leases | (254,752) | 37,994 | (216,758)
| 2,543,475 | 349,395 | 2,892,870
The notes on pages 21 to 39 form part of these financial statements.
Page 20
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Accent Holdings Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Field Lodge, Steventon, Hampshire, United Kingdom, RG25 3AY. The group consists of Accent Holdings Limited and all of its subsidiaries. The principal activity of the company is that of a holding company. 2.Accounting policies
| 2.1 | Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006. 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 pound. The financial statements have been prepared under the historical cost convention, modified to include revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
| 2.3 | Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of not less than twelve months from the date of approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. Page 21
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover represents amounts receivable for services net of VAT and trade discounts. Revenue is recognised when the company has performed its contractual obligations and a right to consideration has been obtained through its performance. Revenue from maintenance contracts is recognised on completion of the visit. Revenue from service and repair work is recognised on completion of the work. Revenue from installations is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is normally set as part of the overall project plan agreed with the client.
| 2.5 | Intangible assets - goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost Iess accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. For the purposes of impairment testing goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
| 2.6 | 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. Page 22
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives Depreciation is provided on the following basis:
|  |  |  | Leasehold land and buildings | - | Straight line over the life of the lease
|  |  |  | Plant and equipment | - | 20% and 25% straight line basis
|  |  |  | Motor vehicles | - | 30% reducing balance basis
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
| 2.7 | Fixed asset investments
Equity investments are measured at fair value through the Statement of comprehensive income, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available. In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.
| 2.9 | 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. Page 23
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Financial instruments
The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Page 24
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.12 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.13 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.14 | Finance costs
Finance costs are charged to the Statement of comprehensive income 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. Page 25
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.15 | Pensions
Defined contribution pension plan 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 contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.16 | Creditors
Short-term 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.
| 2.17 | Operating leases: the Group as lessee
Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.
| 2.18 | Interest income
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 1. Determine whether there are indicators of impairment of trade debtors. Factors taken into consideration in reaching such a decision include the ageing of trade debtors. 2. Sales rebate provisions are made during the year based on the rebate agreements in place. Provisions are accrued during the year using the company's estimate of product sales during the rebate period. As the rebate is based on actual product sales, this can vary from the company's estimate. Page 26
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Turnover
| An analysis of the Group's turnover is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Turnover analysed by class of business |  |
| Installations | 9,459,623 | 10,190,684
| Maintenance and repairs | 10,647,788 | 9,321,079
|  | 20,107,411 | 19,511,763
| All turnover arose within the United Kingdom.
5. | Operating profit
| Operating profit for the year is stated after charging/(crediting):
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 374,479 | 294,864
| Profit on disposal of tangible fixed assets | (11,236) | (15,299)
| Amortisation of intangible assets | 386,346 | 386,346
| Operating lease charges | 203,137 | 121,257
6. | Auditors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the company's auditor and associates: For audit services |  |
| Audit of the financial statements of the group and company | 4,600 | 4,120
| Audit of the financial statements of the company’s subsidiaries | 16,730 | 15,935
| For other services |  |
| Taxation compliance services | 1,675 | 1,595
Page 27
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 6,431,018 | 5,859,622
| Social security | 810,354 | 582,394
| Other pension | 171,767 | 154,344
|  | 7,413,139 | 6,596,360
| The average monthly number of persons (including directors) employed during the year was:
|  |  |  |  | 2025 | 2024
|  |  |  |  | No. | No.
| Direct | 51 | 44
| Administration | 61 | 57
|  | 112 | 101
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 493,186 | 668,282
| Group's contributions to defined contribution pension schemes | 15,247 | 16,263
|  | 508,433 | 684,545
| During the year retirement benefits were accruing to 4 directors (2024 - 4) in respect of defined contribution pension schemes. The highest paid director received remuneration of £225,162 (2024 - £283,515). The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £5,361 (2024 - £6,953).
Page 28
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 95 | 16,667
|  | 95 | 16,667
10. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Interest on finance leases and hire purchase contracts | 17,236 | 16,510
|  | 17,236 | 16,510
11. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 412,262 | 545,321
| Adjustments in respect of previous years | (17,353) | (61,435)
|  | 394,909 | 483,886
| Total current tax | 394,909 | 483,886
| Deferred tax |  |
| Origination and reversal of timing differences | 121,702 | (60,593)
| Total deferred tax | 121,702 | (60,593)
| Tax on profit | 516,611 | 423,293
Page 29
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,390,069 | 1,598,927
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 347,517 | 399,732
| Effects of: |  |
| Tax effect of expenses that are not deductible in determining taxable profit | 1,139 | 81,609
| Capital allowances for year differing to depreciation | 6,241 | 9,004
| Permanent capital allowances in excess of depreciation | - | (7,024)
| Amortisation on assets not qualifying for tax allowances | 96,587 | 96,587
| Other timing differences | 6,810 | (3,078)
| Deferred tax in respect of revaluation reserve | 75,670 | (92,102)
| Prior year adjustments in the tax charge | (17,353) | (61,435)
| Total tax charge for the year | 516,611 | 423,293
| Factors that may affect future tax charges
There are no significant factors that may affect future tax charges.
12. | Dividends
| Recognised as distributions to equity holders:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Final dividends paid | 875,753 | 1,154,004
|  | 875,753 | 1,154,004
| The directors had an interest in dividends during the year totalling £875,753 (2024 - £1,154,004).
Page 30
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | Intangible assets
| Group and Company
|  | Goodwill
|  | £
| Cost |
| At 1 January 2025 | 3,863,455
| At 31 December 2025 | 3,863,455
| Amortisation |
| At 1 January 2025 | 3,050,543
| Charge for the year | 386,346
| At 31 December 2025 | 3,436,889
| Net book value |
| At 31 December 2025 | 426,566
| At 31 December 2024 | 812,912
Page 31
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. | Tangible fixed assets
| Group
|  | Leasehold land and buildings | Plant and machinery | Motor vehicles | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 January 2025 | 329,559 | 351,545 | 1,572,168 | 2,253,272
| Additions | 185,945 | 64,140 | 340,819 | 590,904
| Disposals | - | - | (141,044) | (141,044)
| At 31 December 2025 | 515,504 | 415,685 | 1,771,943 | 2,703,132
| Depreciation |  |  |  |
| At 1 January 2025 | 129,259 | 321,263 | 752,364 | 1,202,886
| Charge for the year | 47,657 | 24,052 | 302,770 | 374,479
| Disposals | - | - | (109,476) | (109,476)
| At 31 December 2025 | 176,916 | 345,315 | 945,658 | 1,467,889
| Net book value |  |  |  |
| At 31 December 2025 | 338,588 | 70,370 | 826,285 | 1,235,243
| At 31 December 2024 | 200,300 | 30,282 | 819,804 | 1,050,386
| The company had no tangible fixed assets at 31 December 2025 or 31 December 2024.
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 290,060 | 367,430
|  | 290,060 | 367,430
Page 32
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
15. | Investments
| Group
|  | Listed investments
|  | £
| Valuation |
| At 1 January 2025 | 351,208
| Revaluations | 42,612
| At 31 December 2025 | 393,820
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2025 | 5,534,644
| At 31 December 2025 | 5,534,644
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Accent Services (Air Conditioning) Limited | England and Wales | Ordinary | 100%
Page 33
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. | Stocks
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Raw materials and consumables | 187,543 | 137,196
|  | 187,543 | 137,196
| The Company had no stocks at 31 December 2025 or 31 December 2024.
17. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 3,391,968 | 3,622,719 | - | -
| Other debtors | 655 | - | - | -
| Prepayments and accrued income | 253,322 | 264,859 | - | 145
|  | 3,645,945 | 3,887,578 | - | 145
18. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 3,109,628 | 2,798,227 | 203,272 | 147,049
|  | 3,109,628 | 2,798,227 | 203,272 | 147,049
Page 34
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
19. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade creditors | 1,006,727 | 1,347,146 | - | -
| Corporation tax | 309,137 | 271,888 | 180,372 | 179,481
| Other taxation and social security | 730,532 | 477,738 | 37,000 | -
| Obligations under finance lease and hire purchase contracts | 120,589 | 149,508 | - | -
| Other creditors | - | 27,238 | - | -
| Accruals and deferred income | 1,050,491 | 1,118,052 | 19,371 | 17,850
|  | 3,217,476 | 3,391,570 | 236,743 | 197,331
| The finance leases and hire purchase contracts are secured by charges over the assets financed.
20. | Creditors: Amounts falling due after more than one year
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Obligations under finance leases and hire purchase contracts | 96,169 | 105,244
|  | 96,169 | 105,244
The finance leases and hire purchase contracts are secured by charges over the assets financed.
21. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Within one year | 120,589 | 149,508
| In two to five years | 96,169 | 105,244
|  | 216,758 | 254,752
| Finance lease payments represent rentals payable by the group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
Page 35
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
22. | Financial instruments
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Financial assets |  |
| Financial assets that are debt instruments measured at amortised cost | 3,392,623 | 3,622,719
| Financial assets measured at fair value through profit or loss | 393,820 | 351,208
|  | 3,786,443 | 3,973,927
| Financial liabilities |  |
| Financial liabilities measured at amortised cost | 1,223,485 | 1,629,136
| Financial assets that are debt instruments measured at amortised cost comprise trade debtors and amounts owed by group undertakings. Financial assets measured at fair value through profit or loss comprise listed investments. Financial liabilities measured at amortised cost comprise trade creditors, other creditors and obligations under finance lease and hire purchase contracts.
Page 36
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
23. | Deferred taxation
| Group
|  | 2025
|  | £
| At beginning of year | 98,720
| Charged to the Statement of comprehensive income | 121,702
| At end of year | 220,422
| Company
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Accelerated capital allowances | 209,933 | 170,711
| Pension liability | (164) | (6,974)
| Investment revaluation | 10,653 | (65,017)
|  | 220,422 | 98,720
24. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2,927,510 (2024 - 2,902,510) Ordinary shares of £1 each | 2,927,510 | 2,902,510
The company has one class of ordinary shares which carry no right to fixed income. During the year, the company issued 25,000 Ordinary shares of £1 each at par value of £1 each. Page 37
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
25. | Reserves
Revaluation reserve Revaluation reserve represents revaluation reserves on investments net of deferred tax. Profit and loss account Profit and loss account includes all current and prior year retained profits and losses.
26. | Pension commitments
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost represents contributions payable to the fund and amounted to £171,767 (2024 - £154,344). The pension fund balance outstanding at the reporting date was £Nil (2024 - £27,238).
27. | Commitments under operating leases
| At 31 December 2025 the Group had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Not later than 1 year | 225,312 | 120,844
| Between two and five years | 826,146 | 180,010
| Later than 5 years | 287,088 | -
|  | 1,338,546 | 300,854
| The Company had no commitments under operating leases at 31 December 2025 or 31 December 2024.
28. | Related party transactions
| The company has taken advantage of the exemption conferred by FRS 102 and has not disclosed related party transactions between wholly owned members of the group. At the year end, the company had a balance of £1,971 (2024 - £9,933) due from Symtrex Ltd, a related party by virtue of a common director. The balance is included within trade debtors.
29. | Post balance sheet events
There are no subsequent events that require disclosure or adjustments to the finacial statements. Page 38
ACCENT HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
30. | Controlling party
The ultimate controlling party is the J A H Curry Discretionary Trust.
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