Company registration number 01609509 (England and Wales)
RAXEL STORAGE SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
PAGES FOR FILING WITH REGISTRAR
RAXEL STORAGE SYSTEMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
RAXEL STORAGE SYSTEMS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2026
31 January 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
1,080
Tangible assets
5
85,443
102,932
85,443
104,012
Current assets
Stocks
20,920
-
Debtors
6
599,162
1,077,510
Cash at bank and in hand
986,352
981,680
1,606,434
2,059,190
Creditors: amounts falling due within one year
7
(274,546)
(497,901)
Net current assets
1,331,888
1,561,289
Total assets less current liabilities
1,417,331
1,665,301
Creditors: amounts falling due after more than one year
8
(43,307)
(43,500)
Provisions for liabilities
(13,678)
(11,835)
Deferred income
(976)
(1,953)
Net assets
1,359,370
1,608,013
Capital and reserves
Called up share capital
100
100
Capital redemption reserve
72
72
Profit and loss reserves
1,359,198
1,607,841
Total equity
1,359,370
1,608,013
RAXEL STORAGE SYSTEMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2026
31 January 2026
- 2 -

For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 29 May 2026
Mr M V Daniele
Director
Company registration number 01609509 (England and Wales)
RAXEL STORAGE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
- 3 -
1
Accounting policies
Company information

Raxel Storage Systems Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 Ruston Road, Alma Park Industrial Estate, Grantham, Lincolnshire, England, NG31 9SW.

1.1
Basis of preparation

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% on cost
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RAXEL STORAGE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% on cost
Fixtures and fittings
20% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

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

1.7
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

RAXEL STORAGE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 5 -
1.8
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Exceptional item
2026
2025
£
£
Expenditure
Impairment of intercompany loan
279,209
-

During the year a loan to a fellow subsidiary undertaking was formally waived. The balance was non-interest bearing and unsecured.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
11
11
4
Intangible fixed assets
Other
£
Cost
At 1 February 2025 and 31 January 2026
5,400
Amortisation and impairment
At 1 February 2025
4,320
Amortisation charged for the year
1,080
At 31 January 2026
5,400
Carrying amount
At 31 January 2026
-
0
At 31 January 2025
1,080
RAXEL STORAGE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 6 -
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2025
64,205
32,719
212,333
309,257
Additions
1,419
-
0
30,620
32,039
Disposals
-
0
-
0
(38,760)
(38,760)
At 31 January 2026
65,624
32,719
204,193
302,536
Depreciation and impairment
At 1 February 2025
60,827
24,472
121,026
206,325
Depreciation charged in the year
2,346
3,571
43,611
49,528
Eliminated in respect of disposals
-
0
-
0
(38,760)
(38,760)
At 31 January 2026
63,173
28,043
125,877
217,093
Carrying amount
At 31 January 2026
2,451
4,676
78,316
85,443
At 31 January 2025
3,378
8,247
91,307
102,932
6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
122,628
298,382
Amounts owed by group undertakings
450,983
748,950
Other debtors
25,551
30,178
599,162
1,077,510
7
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
64,487
188,906
Corporation tax
37,787
119,992
Other taxation and social security
94,906
60,896
Other creditors
77,366
128,107
274,546
497,901
RAXEL STORAGE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 7 -
8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
43,307
43,500
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
Total commitments
14,850
14,850
10
Secured debts

Included in creditors is a balance of £64,863 (2025: £61,001) relating to hire purchase contracts. These obligations are secured on the assets to which they relate.
The bank loan outstanding in fellow group company Pocket Warehouse Holdings Limited is secured by a debenture over the assets of Raxel Storage Systems Limited.

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