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Registered number: 06835712 CONTACTUM LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
CONTACTUM LIMITED CONTENTS
| Page
Company information | 1
Strategic report | 2 - 5
Directors' report | 6
Directors' responsibilities statement | 7
Independent auditor's report | 8 - 11
Profit and loss account | 12
Balance sheet | 13
Statement of changes in equity | 14
Statement of cash flows | 15
Notes to the financial statements | 16 - 31
CONTACTUM LIMITED COMPANY INFORMATION
Directors | D J Hewson
| R B F Taher
| M M Alashkar
Company secretary | C J Brashaw
Registered number | 06835712
Registered office | Unit 18 Eyncourt Road
| Woodside Estate
| Dunstable
| LU5 4TS
Independent auditor | Blick Rothenberg Audit LLP
| Chartered Accountants & Statutory Auditor
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
CONTACTUM LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Introduction
The Directors present their Strategic Report for Contactum Ltd, a leading UK distributer of wiring accessories and circuit protection products. The company remains committed to delivering high-quality solutions, ensuring regulatory compliance, and driving innovation to meet market demands.
Business review
Business model and strategy Contactum Ltd designs, manufactures, and distributes a comprehensive range of wiring accessories and circuit protection solutions. The business strategy is focused on: ∙Strengthening market position through innovation and new product development. ∙Enhancing operational efficiency and supply chain resilience. ∙Expanding customer reach within the UK and selected international markets. ∙Commitment to sustainability and compliance with industry regulations. Market overview and performance The UK wiring accessories and circuit protection sector remains competitive, influenced by evolving regulatory requirements, technological progress, and the increasing focus on energy efficiency. However, during the financial year, the company experienced a 14% decline in revenue due to reduced demand within the commercial and residential construction sectors, impacted by economic uncertainty, supply chain disruptions, and shifting market dynamics. Key market trends include: ∙Rising demand for Renewable Energy Integration. ∙Stricter regulatory requirements, including BS7671 and The Building Safety Act 2024. ∙Supply chain disruptions affecting material costs and availability. ∙Growing emphasis on sustainability and the adoption of eco-friendly materials in product manufacturing and packaging. Financial performance For the year ending 2025, the company delivered a revenue of £12,585,410 (2024: £14,568,376) and a net profit of £1,122,643 (2024: net loss of £(4,024,351)) despite a 14% year-on-year decline in turnover. Key financial highlights include: ∙Gross margin stability at 30.43% despite raw material and finished goods cost fluctuations and stock impairments. ∙Foreign exchange gain of £1,975,308 further impacted the reported P&L as at year ended 2025. ∙Stock rose from £3,523,576 to £3,961,956 due to the timing of purchases net of the stock provision. During 2025, with the strengthening of GBP and repayments being made, the balances owed to group undertakings, denominated in foreign currencies, resulted in the company experiencing a foreign exchange gain of £1,975,308 (2024: loss £356,190) in the year ended 31 December 2025. The net current liabilities position decreased from £17,952,103 to £16,729,122 partially supported by amounts owed to group undertakings which decreased from £24,397,741 to £23,801,249, including the foreign exchange gain. Trade creditors increased to £696,398 as at 31 December 2025 (2024: £572,423) due to the timing of stock purchases prior to the 2024 year end. Page 2
CONTACTUM LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Operational highlights Manufacturing & supply chain Production and assembly are now fully transitioned to the new site ensuring continuity and operational optimisation. Continuous improvements in production efficiency and cost control have helped mitigate supply chain disruptions. The company has also pursued the consolidation of supply partners to enhance reliability and cost-effectiveness. Product development R&D activities continued for preparation of new products to be launched in 2026, including new wiring accessories and upgraded circuit protection solutions. Sustainability initiatives Continues to Implement energy-efficient manufacturing processes and introduce recyclable packaging for selected product lines.
Principal risks and uncertainties
The Board continuously assesses key risks that may impact the business. The main risks identified for the period include: Economic uncertainty Potential impact of inflation and market slowdowns on customer spending. Regulatory compliance Adapting to changes in UK and EU regulatory frameworks affecting electrical products. Supply chain risks Managing component shortages and material price volatility. Technological disruption Need for continuous investment in R&D to stay ahead of industry advancements. Page 3
CONTACTUM LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Credit risk The company’s principal financial assets include bank balances, trade debtors, and other debtors. Credit risk is primarily associated with trade debtors, with allowances made for doubtful debts. Risk is mitigated by working with creditworthy UK customers and requiring advance payments for export markets. The company has no significant concentration of credit risk as exposure is spread across numerous counterparties and customers. Liquidity risk The company mitigates liquidity risk by forecasting future cash flow requirements and maintaining sufficient cash reserves to meet obligations. Foreign currency risk The company conducts transactions in foreign currencies and actively manages exposure to fluctuations by balancing foreign currency assets and liabilities while timing transactions effectively. Uncertainties The required revenue growth for Contactum is dependent on its continued strategy to develop the “Projects Market” where the compliance to regulatory standards, safety and quality are the main drivers. The ability to develop new opportunities, broaden our product portfolio, identify new markets and adapt to market conditions are seen as key to achieving increased market share. Financial key performance indicators During the period under review the Key Performance Indicator systems in place have been further developed across the business which has continued to improve the measurement and monitoring of the business. The key performance indicators used in the business to monitor strategy include: ∙Sales Growth with existing and new customers ∙Gross and net profit margin ∙Customer credit exposure ∙Operating cash flow ∙Stock levels ∙On time delivery performance, by product and by order. Other performance indictators The directors are committed to promoting the health, safety and welfare of their staff and to ensure appropriate measures are undertaken in this regard.
Future outlook
The company remains well-positioned to achieve sustainable growth. Key strategic priorities for the coming year include: ∙Expanding the product portfolio to meet the evolving needs of the market. ∙Strengthening relationships with key distribution partners and direct customers. ∙Enhancing synergies within the alfanar group by fostering collaboration with other subsidiaries to drive operational efficiency, supply chain resilience and innovation. ∙Continuing investment in sustainability initiatives and reducing carbon footprint. ∙Maintaining management systems and ensuring compliance with health & safety and staff welfare standards. ∙Actively promoting these standards throughout the supply chain to strengthen corporate responsibility and operational excellence. Page 4
CONTACTUM LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Conclusion
Despite ongoing market challenges, Contactum is confident in its ability to drive innovation, show a strong financial performance, and deliver value to stakeholders. The Directors are committed to ensuring long-term resilience and growth. This report was approved by the board and signed on its behalf.
D J Hewson Director
Date: 20 May 2026
Page 5
CONTACTUM 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.
Results and dividends
The profit for the year, after taxation, amounted to £1,122,643 (2024 - loss £4,024,351). The directors have not recommended a dividend.
Directors
The directors who served during the year were:
D J Hewson
R B F Taher
M M Alashkar
Matters covered in the Strategic Report
As permitted by s414c(11) of the Companies Act 2006, the directors have elected to disclose information, required to be in the directors' report by Schedule 7 of the 'Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008', in the strategic report.
Disclosure of information to auditor
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's auditor is 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's auditor is aware of that information.
Post balance sheet events
There have been no significant events affecting the company since the year end. Going concern The financial statements have been prepared using the going concern basis of accounting. Further details regarding the adoption of the going concern basis can be found in the accounting policy 2.2 in the notes to the financial statements. This report was approved by the board and signed on its behalf.
D J Hewson Director
Date: 20 May 2026
Page 6
CONTACTUM LIMITED DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors are responsible for preparing the strategic report, the directors' report and the 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the company's financial statements and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 7
CONTACTUM LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONTACTUM LIMITED FOR THE YEAR ENDED 31 DECEMBER 2025
Opinion
We have audited the financial statements of Contactum Limited (the 'company') for the year ended 31 December 2025, which comprise the profit and loss account, the balance sheet, the statement of cash flows, the 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 company's affairs as at 31 December 2025 and of its 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's 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. Page 8
CONTACTUM LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONTACTUM LIMITED (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or ∙the 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.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement set out on page 7, 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 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 company or to cease operations, or have no realistic alternative but to do so. Page 9
CONTACTUM LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONTACTUM LIMITED (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Auditor's 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 auditor's 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: ∙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 discussions with management, and from our commercial knowledge and experience of the company. ∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the requirements of Financial Reporting Standards (FRS102), the Companies Act 2006, taxation legislation and employment legislation; as well as specific laws and regulations surrounding the industry. ∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and ∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 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 with management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and ∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: ∙performed analytical procedures to identify any unusual or unexpected variances; ∙tested journal entries to identify unusual transactions; ∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and ∙investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: ∙agreeing financial statement disclosures to underlying supporting documentation; ∙enquiring of management as to actual and potential litigation and claims; and There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Page 10
CONTACTUM LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONTACTUM LIMITED (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 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 auditor's report.
Use of our report
This report is made solely to the company's directors, 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 directors those matters we are required to state to them in an auditor's 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 directors, as a body, for our audit work, for this report, or for the opinions we have formed. Mark Cunningham (senior statutory auditor) for and on behalf of Blick Rothenberg Audit LLP Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH Date: 2 June 2026 Page 11
CONTACTUM LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 12,585,410 | 14,568,376
Cost of sales |  | (8,754,812) | (11,195,589)
Exceptional cost of sales | 13 | - | (1,329,501)
Gross profit |  | 3,830,598 | 2,043,286
Distribution costs |  | (1,025,520) | (1,274,246)
Administrative expenses |  | (3,350,039) | (4,322,084)
Exceptional administrative expenses | 13 | - | (162,355)
Other operating income | 5 | 36,036 | 47,238
Operating loss | 6 | (508,925) | (3,668,161)
Interest receivable and similar income | 9 | 1,631,568 | -
Interest payable and similar expenses | 10 | - | (356,190)
Profit/(loss) before tax |  | 1,122,643 | (4,024,351)
Tax on profit/(loss) | 11 | - | -
Profit/(loss) for the financial year |  | 1,122,643 | (4,024,351)
There are no items of other comprehensive income for either the year or the prior year other than the profit/loss for the year. Accordingly no statement of other comprehensive income has been presented.
Page 12
|  | REGISTERED NUMBER: 06835712
CONTACTUM LIMITED BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 14 |  | 15,556 |  | 30,314
Tangible assets | 15 |  | 870,124 |  | 955,704
Current assets |  |  |  |  |
Stocks | 16 | 3,961,956 |  | 3,523,576 |
Debtors: amounts falling due after more than one year | 17 | 564,000 |  | 564,000 |
Debtors: amounts falling due within one year | 17 | 2,680,689 |  | 3,332,687 |
Cash at bank and in hand | 18 | 2,264,383 |  | 1,750,263 |
|  | 9,471,028 |  | 9,170,526 |
Creditors: amounts falling due within one year | 19 | (26,200,150) |  | (27,122,629) |
Net current liabilities |  |  | (16,729,122) |  | (17,952,103)
Total assets less current liabilities |  |  | (15,843,442) |  | (16,966,085)
Net liabilities |  |  | (15,843,442) |  | (16,966,085)
Capital and reserves |  |  |  |  |
Called up share capital | 20 |  | 500 |  | 500
Share premium account | 21 |  | 9,999,500 |  | 9,999,500
Profit and loss account | 21 |  | (25,843,442) |  | (26,966,085)
Total shareholder deficit |  |  | (15,843,442) |  | (16,966,085)
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D J Hewson
Director
Date: 20 May 2026
The notes on pages 16 to 31 form part of these financial statements. Page 13
CONTACTUM LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2024 | 500 | 9,999,500 | (22,941,734) | (12,941,734)
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (4,024,351) | (4,024,351)
Total comprehensive loss for the year | - | - | (4,024,351) | (4,024,351)
At 1 January 2025 | 500 | 9,999,500 | (26,966,085) | (16,966,085)
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 1,122,643 | 1,122,643
Total comprehensive income for the year | - | - | 1,122,643 | 1,122,643
At 31 December 2025 | 500 | 9,999,500 | (25,843,442) | (15,843,442)
Page 14
CONTACTUM LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  | 2025 | 2023
|  |  | £ | £
Cash flows from operating activities |  |
Profit/(loss) for the financial year | 1,122,643 | (4,024,351)
Adjustments for: |  |
Depreciation of tangible assets | 185,382 | 228,290
Loss on disposal of tangible assets | 19,790 | 62,901
Interest (received)/paid | (1,621,255) | 356,190
(Increase)/decrease in stocks | (438,380) | 4,112,525
Decrease in debtors | 340,768 | 700,167
(Decrease) in creditors | (325,987) | (1,954,410)
Increase in amounts owed to groups | 3,085,269 | 3,066,144
Amortisation of intangible assets | 17,176 | 17,046
Net cash generated from operating activities | 2,385,406 | 2,564,502
Cash flows from investing activities |  |
Purchase of intangible fixed assets | (2,418) | (42,263)
Purchase of tangible fixed assets | (102,493) | (332,679)
Sale of tangible fixed assets | - | 872
Net cash from investing activities | (104,911) | (374,070)
Cash flows from financing activities |  |
Loans from group companies repaid | (1,766,375) | (2,200,640)
Net cash used in financing activities | (1,766,375) | (2,200,640)
Net increase/(decrease) in cash and cash equivalents | 514,120 | (10,208)
Cash and cash equivalents at beginning of year | 1,750,263 | 1,760,471
Cash and cash equivalents at the end of year | 2,264,383 | 1,750,263
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 2,264,383 | 1,750,263
| 2,264,383 | 1,750,263
The notes on pages 16 to 31 form part of these financial statements.
Page 15
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Contactum Limited manufactures and sells electrical accessories and circuit protection equipment. Contactum Limited is a private company limited by shares and is incorporated in England. The address of its principal place of business is Unit 18 Eyncourt Road, Woodside Industrial Estate, Dunstable, LU5 4TS. The registered office of the business is Victoria Works, Edgware Road, London, NW2 6LF. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 2. Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on shareholders funds at the end of the year. The directors consider this basis to be appropriate as the company has received a letter of financial support from its parent company, Al Fanar Company. The company has net current liabilities of £16,729,122 and net total liabilities of £15,843,442 as at 31 December 2025. The company currently meets its day-to-day working capital requirements from intercompany loans and balances with fellow group companies of the group headed by Al Fanar Company. The directors have prepared cash flow forecasts for the next 12 months which show that the company will continue to be reliant on the group to support its working capital needs. These forecasts include key assumptions specifically over the company's future trading activity and acknowledge that variations in the trading assumptions would impact the timing and quantum of cash flows. On the basis of these forecasts Al Fanar Company has confirmed to the directors its intention to continue to provide the necessary support for at least 12 months from the date of approval of these financial statements to enable the company to continue to settle its liabilities as they fall due. The company's directors have reviewed and considered the financial position and performance of Al Fanar Company. Accordingly, the directors consider that the indication of support from Al Fanar Company should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment and have prepared the financial statements on a going concern basis. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not continue. Page 16
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.3 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ∙the company has transferred the significant risks and rewards of ownership to the buyer; ∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of turnover can be measured reliably; ∙it is probable that the company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'interest receivable and similar income' or 'interest payable and similar expenses'. All other foreign exchange gains and losses are presented in the profit and loss account within 'administrative expenses'.
| 2.5 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the term of the lease.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 17
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | 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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.9 | Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
| 2.10 | Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.11 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence. Page 18
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.12 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Website costs | - | 3 | years
| 2.13 | 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. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Leasehold improvements | - | Over the unexpired term of the related lease
|  |  |  | Plant and machinery | - | 20% straight line
|  |  |  | Office equipment | - | 25% straight line
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 profit or loss. Page 19
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.14 | 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 of finished goods and work in progress includes overheads appropriate to the stage of manufacture. Cost of material is based on invoiced cost. An appropriate amount of delivery and carriage costs are included in the balance sheet value. At each balance sheet 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 profit or loss. The method of calculation has changed during the year to be reflective of the position of the stock held at the year end.
| 2.15 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors, trade financing facilities, and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets 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 profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company Page 20
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.15 | Financial instruments (continued)
would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the 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. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss account. Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet 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.
| 2.16 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.17 | Share capital
Ordinary shares are classified as equity.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The carrying value of stock, at the lower of cost and net realisable value, is dependent on key judgments and estimates that are made by management. The judgments relating to stock include an estimation of future expected average sales prices and disposal costs. These judgments also include consideration of specific factors and the developments in the market that have been identified throughout the year and subsequent to the year end. Actual outcomes could be different to the assumptions used in determining the estimates. The carrying value of stock and the associated provisions are disclosed in note 16. Page 21
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Sale of electrical equipment | 12,585,410 | 14,568,376
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 11,788,267 | 13,388,425
| Rest of the world | 797,143 | 1,179,951
|  | 12,585,410 | 14,568,376
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Agency commission received | 36,036 | 47,238
6. | Operating loss
| The operating loss is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Impairment of stock | (1,260,560) | 1,486,498
| Impairment of trade debtors | 9,984 | 23,526
| Audit fees payable to the company's auditor | 41,500 | 31,940
| Non-audit fees payable to the company's auditor | 11,200 | 10,580
| Depreciation of tangible fixed assets | 185,382 | 228,290
| Amortisation on intangible assets | 17,176 | 17,046
| Exchange differences (gain)/loss | (1,975,308) | 447,937
| Defined contribution pension cost | 71,811 | 108,587
| Other operating lease rentals | 887,597 | 961,685
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CONTACTUM 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 | 1,965,449 | 2,735,938
| Social security costs | 258,671 | 295,583
| Cost of defined contribution scheme | 71,811 | 108,587
|  | 2,295,931 | 3,140,108
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Office and management | 9 | 14
|  | Production and sales | 35 | 56
|  |  | 44 | 70
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 127,943 | 145,346
| Company contributions to defined contribution pension schemes | 6,000 | 6,750
9. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Foreign exchange gain | 1,604,156 | -
| Other interest receivable | 27,412 | -
|  | 1,631,568 | -
10. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Foreign exchange loss | - | 356,190
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CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Total current tax | - | -
| Deferred tax |  |
| Total deferred tax | - | -
| Taxation on profit on ordinary activities | - | -
| Factors affecting tax charge for the year
| The tax assessed for the year is lower 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/(loss) on ordinary activities before tax | 1,122,643 | (4,024,351)
| Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 280,661 | (1,006,088)
| Effects of: |  |
| Fixed asset depreciation | 50,640 | 61,334
| Fixed asset loss on disposals | - | 15,943
| Capital allowances for year in excess of depreciation | (29,047) | (88,839)
| Provisions tax adjustment | (12,070) | 11,601
| Non-trade loan relationship (credits)/debits | (407,892) | 89,048
| Unrelieved trading losses carried forward | 117,708 | 917,001
| Total tax charge for the year | - | -
| Factors that may affect future tax charges
The company has carried forward tax losses of £23,543,758 (2024: £25,072,815) potentially available to offset against future taxable profits. Page 24
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| 12. | Analysis of net debt
|  |  | At 1 January 2025 | Cash flows | Other non-cash changes | At 31 December 2025
|  |  | £ | £ | £ | £
| Cash at bank and in hand | 1,750,263 | 514,120 | - | 2,264,383
| Amounts owed to group undertakings | (24,397,741) | 1,581,252 | (984,760) | (23,801,249)
|  | (22,647,478) | 2,095,372 | (984,760) | (21,536,866)
13. | Exceptional items
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Stock write off | - | 878,920
| Redundancy costs | - | 612,936
|  | - | 1,491,856
| The Cricklewood site was closed in the prior year which resulted in all operations moving to a single site which resulted in a write-off of stock and redundancies.
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CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. | Intangible assets
|  | Website costs
|  | £
| Cost |
| At 1 January 2025 | 44,607
| Additions | 2,418
| At 31 December 2025 | 47,025
| Amortisation |
| At 1 January 2025 | 14,293
| Charge for the year | 17,176
| At 31 December 2025 | 31,469
| Net book value |
| At 31 December 2025 | 15,556
| At 31 December 2024 | 30,314
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CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
15. | Tangible fixed assets
|  | Improvements to leasehold | Plant and machinery | Office equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 January 2025 | 764,344 | 463,628 | 806,382 | 2,034,354
| Additions | - | 89,663 | 12,830 | 102,493
| Disposals | - | (451,689) | (7,752) | (459,441)
| At 31 December 2025 | 764,344 | 101,602 | 811,460 | 1,677,406
| Depreciation |  |  |  |
| At 1 January 2025 | 77,239 | 451,623 | 549,788 | 1,078,650
| Charge for the year | 77,260 | 26,193 | 81,929 | 185,382
| Disposals | - | (445,993) | (10,757) | (456,750)
| At 31 December 2025 | 154,499 | 31,823 | 620,960 | 807,282
| Net book value |  |  |  |
| At 31 December 2025 | 609,845 | 69,779 | 190,500 | 870,124
| At 31 December 2024 | 687,105 | 12,005 | 256,594 | 955,704
16. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 50,368 | 49,572
| Work in progress (goods to be sold) | 562,331 | 637,447
| Finished goods and goods for resale | 3,349,257 | 2,836,557
|  | 3,961,956 | 3,523,576
| There is no significant difference between the replacement cost of the stocks and its carrying amount. Stocks are stated after provision for impairment of £1,866,587 (2024: £2,655,090).
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CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
17. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Rent deposit | 564,000 | 564,000
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | 2,167,531 | 2,389,797
| Amounts owed by group undertakings | 196,718 | 507,948
| Other debtors | 11,273 | 227,249
| Prepayments and accrued income | 305,167 | 207,693
|  | 2,680,689 | 3,332,687
| Amounts owed by group undertakings are unsecured, interest-free, have no fixed repayment date and are repayable on demand.
18. | Cash
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,264,383 | 1,750,263
19. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 696,398 | 572,423
| Amounts owed to group undertakings | 23,801,249 | 24,397,741
| Other taxation and social security | 456,555 | 360,080
| Other creditors | 23,660 | 77,684
| Accruals and deferred income | 1,222,288 | 1,714,701
|  | 26,200,150 | 27,122,629
| Amounts owed to group undertakings are unsecured, interest-free, have no fixed repayment date and are repayable on demand.
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CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
20. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 500 (2024 - 500) Ordinary shares of £1.00 each | 500 | 500
| There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.
21. | Reserves
Share premium account The share premium reserve includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium. Profit and loss account The profit and loss account includes all current and prior period retained profits and losses.
22. | Pension commitments
The company operates a defined contribution pension scheme whose assets are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company and amounted to £71,811 (2024: £108,587). At the year end £14,927 (2024: £63,206) has been accrued in respect of employer's pension commitments. Page 29
CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
23. | Commitments under operating leases
| At 31 December 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Land and building |  |
| Not later than 1 year | 485,622 | 485,622
| Later than 1 year and not later than 5 years | 1,942,488 | 1,942,488
| Later than 5 years | 1,287,084 | 1,699,677
|  | 3,715,194 | 4,127,787
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating commitments |  |
| Not later than 1 year | 178,677 | 118,464
| Later than 1 year and not later than 5 years | 203,564 | 164,741
|  | 382,241 | 283,205
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CONTACTUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
24. | Related party transactions
The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group. Transactions with (other) related parties are as follows:
| Relationship | Transaction | Amount | Amount due (to)/from related parties |
|  |  | 2025 |  | 2024 | 2025 | 2024 |
|  |  | £ |  | £ | £ | £ |
| Entity under common control | Loan | (2,207,654) | 402,401 | (23,545,783) | (24,149,281) |
|  | FX | 1,604,156 | (356,190) | - | - |
Amounts owed to related parties are unsecured, interest free and due for repayment within one year. Key management personnel Total remuneration paid to key management personnel (including directors) was £576,980 (2024: £620,550).
25. | Controlling party
In the opinion of the directors the immediate controlling party is Al Fanar Company, a company incorporated in Saudi Arabia, whose registered office is located at Al Nafl District, P.O. Box 301, Riyadh 11411, Kingdom of Saudi Arabia. The parent undertaking of the smallest and largest group of undertakings for which group financial statements are drawn up and of which the company is a member is Al Fanar Company. Group financial statements are not publicly available.
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