PARD UK LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

PARD UK LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 15957402 . The registered office is Unit 39c Fennell Business Park Pennygillam Way, Pennygillam Ind. Estate, Launceston, Cornwall, PL15 7ED.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Straight Line
Motor Vehicles	25% Straight Line
Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Straight Line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments FRS 102' to all of its financial instrument.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liability are offset, with the net amounts present in the financial statements, when there is a legal 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.

Basic financial assets, which include debtors and cash and bank balance, and initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

...CONTINUED

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PARD UK LIMITED

Notes to the Financial Statements (continued)

For the Period 16 September 2024 to 31 December 2025

2.5. Financial Instruments - continued

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

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

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 2

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 16 September 2024	-	-	-	-	-
Additions	140	20,995	5,817	566	27,518

As at 31 December 2025	140	20,995	5,817	566	27,518

Depreciation
As at 16 September 2024	-	-	-	-	-
Provided during the period	13	3,280	864	35	4,192

As at 31 December 2025	13	3,280	864	35	4,192

...CONTINUED

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PARD UK LIMITED

Notes to the Financial Statements (continued)

For the Period 16 September 2024 to 31 December 2025

Net Book Value
As at 31 December 2025	127	17,715	4,953	531	23,326

As at 16 September 2024	-	-	-	-	-

5. Stocks

	31 December 2025
	£
Finished goods	430,664

6. Debtors

	31 December 2025
	£
Due within one year
Trade debtors	97,114
Other debtors	5,683

	102,797

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025
	£
Trade creditors	581,835
VAT	34,362
Other creditors	4,285
Accruals and deferred income	1,045
Directors' loan accounts	805

	622,332

8. Creditors: Amounts Falling Due After More Than One Year

	31 December 2025
	£
Other loans	35,000

9. Share Capital

	31 December 2025
	£
Allotted, Called up and fully paid	100,000

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PARD UK LIMITED

Notes to the Financial Statements (continued)

For the Period 16 September 2024 to 31 December 2025

10. Related Party Transactions

At the beginning of the accounting year, there were no outstanding balances in respect of related party transactions.

During the year, the Company entered into the following transactions with related parties:

* Purchase of inventory amounting to £405,916.38 from HK PRD Technology Company Limited.

* Purchase of inventory amounting to £328,701.96 from Hongkong Pard International Co., Limited.

* Purchase of inventory amounting to £11,078.85 from Pard Europe Spolka z Ograniczona Odpowiedzialnoscia.

* Purchase of inventory amounting to £7,773.11 from Shenzhen Pard Technology Co., Ltd.

At the year end, an amount of £805.26 was owed to the director, Mark Andrew Swift. The balance was unsecured, interest-free and repayable on demand.

During the year, HK PRD Technology Company Limited advanced a loan of £35,000 to the Company. At the reporting date, the outstanding balance was £35,000. The loan was unsecured, interest-free and repayable on demand.

11. Ultimate Parent Undertaking and Controlling Party

The immediate parent undertaking and controlling party of the company is HK PRD TECHNOLOGY COMPANY LIMITED, a company incorporated in Hong Kong, which holds 100% of the issued share capital of the company.

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		31 December 2025
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		23,326

			23,326
CURRENT ASSETS
Stocks	5	430,664
Debtors	6	102,797
Cash at bank and in hand		197,900

		731,361
Creditors: Amounts Falling Due Within One Year	7	(622,332 )

NET CURRENT ASSETS (LIABILITIES)			109,029

TOTAL ASSETS LESS CURRENT LIABILITIES			132,355

Creditors: Amounts Falling Due After More Than One Year	8		(35,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(748 )

NET ASSETS			96,607

CAPITAL AND RESERVES
Called up share capital	9		100,000
Profit and Loss Account			(3,393 )

SHAREHOLDERS' FUNDS			96,607