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REGISTERED NUMBER: 05007840 (England and Wales)

| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| RAPID ELECTRICAL DISTRIBUTORS LIMITED |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 4 |

| Report of the Independent Auditors | 6 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Cash Flow Statement | 13 |

| Notes to the Cash Flow Statement | 14 |

| Notes to the Financial Statements | 15 |

| RAPID ELECTRICAL DISTRIBUTORS LIMITED |

COMPANY INFORMATION

for the Year Ended 31 DECEMBER 2025

| DIRECTOR: | Mr N J Edwell

| SECRETARY: | Mrs F M Edwell

| REGISTERED OFFICE: | Unit 10 Coln Industrial Estate

| Old Bath Road

| Colnbrook Slough

| Berkshire

| SL3 0NJ

| REGISTERED NUMBER: | 05007840 (England and Wales)

| AUDITORS: | FKCA Limited

| 260 - 270 Butterfield

| Great Marlings

| Luton

| Bedfordshire

| LU2 8DL

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

STRATEGIC REPORT

for the Year Ended 31 DECEMBER 2025

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

REVIEW OF BUSINESS

The director is pleased to report a significant improvement in turnover and profit as the industry and economy recovered from the adverse impacts of the Coronavirus pandemic from earlier years.

Despite the continued increases in the cost of raw materials and with competitive pricing within the electrical wholesale market, the gross profit for the year decreased to £3.1m (2024 £3.14m).

Despite the underlying uncertainty in the wider economy, the company was able to successfully follow its business plan and forecast, exceeding its turnover and profit expectations going into the start of the year.

The key financial highlights are as follows:

| 31 December 2025 |  | 31 December 2024 |

Turnover |  | £17,300,953 |  | £15,047,916 |

Gross Profit |  | £3,104,221 |  | £3,143,809 |

Gross Profit % |  | 17.9% |  | 20.9% |

Profit before tax |  | £484,293 |  | £529,947 |

Net Assets |  | £1,715,020 |  | £1,670,555 |

The company has performed strongly during the year, and the directors are pleased with its performance and position. The forecast for 2026 is one of further recovery with company continuing to grow and explore viable commercial projects.

The net current assets continue to strengthen, with a key focus maintaining liquidity which will enable the company to withstand any adverse effects of the current economic uncertainty.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

STRATEGIC REPORT

for the Year Ended 31 DECEMBER 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The Senior Management team led by the Managing Director constantly review any associated risks.

The principal risks identified are as follows:

Staffing

The company's staff are key to the services that it can provide and in common with many industries, the company is facing challenges in the labour market, with competition both within the industry and from other industries.

Liquidity

The Company makes use of an invoice finance discounting facility in order to mitigate short term liquidity risk. The Directors continually monitor cash flow forecasts in order manage this risk over the short to medium term.

Credit Risk

The Company is exposed to the credit risk of its customers. The Directors ensure that all key customers have regular credit checks undertaken by working closely with the credit insurance partner. The Company employs a credit controller to ensure all invoices are paid on a timely basis and queries are acted upon quickly.

Economic Outlook

There has been increased economic uncertainty with rising costs in the UK and Europe. The Directors keep a close eye on the day to day activities to monitor rising costs and prices.

Price Risk

The market in which the Company operates is highly competitive. There are on-going pressures from suppliers implementing price increases which impact profit margins. To mitigate this risk, the Company employs a specialist purchasing controller who is constantly assessing the market to obtain the best prices possible. The Company ensures it competes effectively by maintaining relationships with customers and by delivering a high level of customer service.

The company looks forward to FY2026 and beyond with confidence.

ON BEHALF OF THE BOARD:

Mr N J Edwell - Director

29 June 2026

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

REPORT OF THE DIRECTOR

for the Year Ended 31 DECEMBER 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale electrical distributors.

DIVIDENDS

Interim dividends per share on the Ordinary shares £1 shares were paid as follows:

1500 |  | - 19 September 2025

1500 |  | - 18 June 2025

3000 |

The director recommends that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary A shares £1 shares. The director recommends that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary B shares £1 shares. The director recommends that no final dividend be paid on these shares.

The total distribution of dividends for the year ended 31 December 2025 will be £ 300,000 .

FUTURE DEVELOPMENTS

The company plans further growth through investment into additional headcount in the business development team. Business development will focus on building on current customer accounts whilst also looking to obtain new customers and projects.

DIRECTOR

Mr N J Edwell held office during the whole of the period from 1 January 2025 to the date of this report.

DIRECTOR'S RESPONSIBILITIES STATEMENT

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

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

REPORT OF THE DIRECTOR

for the Year Ended 31 DECEMBER 2025

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr N J Edwell - Director

29 June 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RAPID ELECTRICAL DISTRIBUTORS LIMITED

Opinion

We have audited the financial statements of Rapid Electrical Distributors Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the 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 Auditors' 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RAPID ELECTRICAL DISTRIBUTORS LIMITED

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 Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, 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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

- |  | enquiry of management and those charged with governance around actual and potential litigation and claims; |

- |  | enquiry of entity staff and the board of directors to identify any instances of non-compliance with laws and regulations; and |

- |  | reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. |

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of sales;

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RAPID ELECTRICAL DISTRIBUTORS LIMITED

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

- Investigated the rationale behind significant or unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tara Aldwin ACA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

30 June 2026

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

INCOME STATEMENT

for the Year Ended 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 5 | 17,300,953 |  | 15,047,916 |  |

Cost of sales | 14,196,732 |  | 11,904,107 |  |

GROSS PROFIT | 3,104,221 |  | 3,143,809 |  |

Administrative expenses | 2,623,709 |  | 2,625,269 |  |

480,512 |  | 518,540 |  |

Other operating income | 199,741 |  | 252,489 |  |

OPERATING PROFIT | 7 | 680,253 |  | 771,029 |  |

Interest payable and similar expenses | 8 | 195,960 |  | 241,082 |  |

PROFIT BEFORE TAXATION | 484,293 |  | 529,947 |  |

Tax on profit | 9 | 139,828 |  | 153,396 |  |

PROFIT FOR THE FINANCIAL YEAR | 344,465 |  | 376,551 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

OTHER COMPREHENSIVE INCOME

for the Year Ended 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 344,465 |  | 376,551 |  |

OTHER COMPREHENSIVE INCOME |

Revaluation of property | - |  | 133,862 |  |

Income tax relating to other comprehensive income | - |  | (33,466 | ) |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | - |  | 100,396 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 344,465 |  | 476,947 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 11 | 1,770,133 |  | 1,787,447 |  |

Investments | 12 | 100,000 |  | 100,000 |  |

1,870,133 |  | 1,887,447 |  |

CURRENT ASSETS

Stocks | 13 | 726,486 |  | 708,308 |  |

Debtors | 14 | 5,108,067 |  | 3,964,106 |  |

Cash at bank | 737,105 |  | 358,689 |  |

6,571,658 |  | 5,031,103 |  |

CREDITORS

Amounts falling due within one year | 15 | 6,380,058 |  | 4,833,094 |  |

NET CURRENT ASSETS | 191,600 |  | 198,009 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,061,733 |  | 2,085,456 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (139,610 | ) | (204,014 | ) |

PROVISIONS FOR LIABILITIES | 20 | (207,103 | ) | (210,887 | ) |

NET ASSETS | 1,715,020 |  | 1,670,555 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 103 |  | 103 |  |

Revaluation reserve | 22 | 767,568 |  | 767,568 |  |

Retained earnings | 22 | 947,349 |  | 902,884 |  |

SHAREHOLDERS' FUNDS | 1,715,020 |  | 1,670,555 |  |

The financial statements were approved by the director and authorised for issue on 29 June 2026 and were signed by:

Mr N J Edwell - Director

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

STATEMENT OF CHANGES IN EQUITY

for the Year Ended 31 DECEMBER 2025

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 January 2024 | 103 |  | 751,333 |  | 667,172 |  | 1,418,608 |  |

Changes in equity

Dividends | - |  | (225,000 | ) | - |  | (225,000 | ) |

Total comprehensive income | - |  | 376,551 |  | 100,396 |  | 476,947 |  |

Balance at 31 December 2024 | 103 |  | 902,884 |  | 767,568 |  | 1,670,555 |  |

Changes in equity

Dividends | - |  | (300,000 | ) | - |  | (300,000 | ) |

Total comprehensive income | - |  | 344,465 |  | - |  | 344,465 |  |

Balance at 31 December 2025 | 103 |  | 947,349 |  | 767,568 |  | 1,715,020 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

CASH FLOW STATEMENT

for the Year Ended 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,166,478 |  | 794,546 |  |

Interest paid | (195,960 | ) | (241,082 | ) |

Tax paid | (244,538 | ) | (113,712 | ) |

Net cash from operating activities | 725,980 |  | 439,752 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (12,404 | ) | (212,007 | ) |

Net cash from investing activities | (12,404 | ) | (212,007 | ) |

Cash flows from financing activities

New loans in year | - |  | 167,115 |  |

Loan repayments in year | (161,279 | ) | (251,625 | ) |

Amount withdrawn by directors | (178,684 | ) | (93,616 | ) |

Repayment of loans from group companies | 12,746 |  | 245,291 |  |

Repay loans to connected parties | (7,943 | ) | (94,606 | ) |

Equity dividends paid | - |  | (225,000 | ) |

Net cash from financing activities | (335,160 | ) | (252,441 | ) |

Increase/(decrease) in cash and cash equivalents | 378,416 |  | (24,696 | ) |

Cash and cash equivalents at beginning of year | 2 | 358,689 |  | 383,385 |  |

Cash and cash equivalents at end of year | 2 | 737,105 |  | 358,689 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 31 DECEMBER 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 484,293 |  | 529,947 |  |

| Depreciation charges | 29,718 |  | 23,933 |  |

| Finance costs | 195,960 |  | 241,082 |  |

709,971 |  | 794,962 |  |

| (Increase)/decrease in stocks | (18,178 | ) | 103,331 |  |

| (Increase)/decrease in trade and other debtors | (1,246,393 | ) | 1,302,420 |  |

| Increase/(decrease) in trade and other creditors | 1,721,078 |  | (1,406,167 | ) |

| Cash generated from operations | 1,166,478 |  | 794,546 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2025

| 31.12.25 |  | 1.1.25

£ | £ |

| Cash and cash equivalents | 737,105 |  | 358,689 |  |

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 358,689 |  | 383,385 |  |

3. | ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

| At 1.1.25 | Cash flow | At 31.12.25

£ | £ | £ |

| Net cash |

| Cash at bank | 358,689 |  | 378,416 |  | 737,105 |  |

358,689 |  | 378,416 |  | 737,105 |  |

| Debt

| Debts falling due within 1 year | (180,126 | ) | 96,875 |  | (83,251 | ) |

| Debts falling due after 1 year | (204,014 | ) | 64,404 |  | (139,610 | ) |

(384,140 | ) | 161,279 |  | (222,861 | ) |

| Total | (25,451 | ) | 539,695 |  | 514,244 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Rapid Electrical Distributors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| 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 £.

| 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 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

| Rapid Electrical Distributors Limited is a wholly owned subsidiary of Rapid Electrical Distributors Holdings Limited and the results of Rapid Electrical Distributors Limited are included in the consolidated financial statements of Rapid Electrical Distributors Holdings Limited, which are available from St Ann's Quay, 118 Quayside, Newcastle Upon Tyne, United Kingdom, NE1 3BD.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions (Rapid Electrical Distributors (Watford) Limited) with wholly owned subsidiaries within the group.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets, except for Freehold land and buildings, are initially measured at cost and subsequently measured at cost, less accumulated depreciation and any impairment losses.

| Freehold land and buildings are held at revalued amount, being the fair value at the date of the most recent valuation less any subsequent depreciation and accumulated impairment losses.

| Freehold property is revalued to ensure its carrying amount does not differ materially from its fair value at the reporting date.

| Increases in valuation are recognised in other comprehensive income and accumulated in a revaluation reserve, unless they reverse a decrease previously recognised in the profit and loss.

| Decreases in valuations are recognised in other comprehensive income to the extent any existing revaluation reserve for the asset, and otherwise in the profit and loss.

| 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:

| Improvement to premises |  | 10% straight line |  |

| Plant and equipment |  | 25% reducing balance |  |

| Office equipment |  | 25% straight line |  |

| Depreciation is charged in full in the year of acquisition and nil in the year of disposal.

| The company assesses at each reporting date whether there is any indication that an asset may be impaired. If such an indication exists, the company estimates the recoverable amount of the asset and recognises an impairment loss where appropriate.

| An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on the disposal of an asset is included in the profit or loss.

| Investments in subsidiaries

| Investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

| A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

| Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| 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 liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| 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 profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Other financial liabilities

| Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Taxation

| 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.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes, as required by FRS 102 Section 29 - Income Tax.

| Deferred tax liabilities are recognised for all timing differences that are expected to result in taxable amounts in future periods.

| Deferred tax assets are recognised only to the extent that it is probable they will be recovered through the reversal of deferred tax liabilities or future taxable profits.

| Deferred tax is not recognised on:

| Initial recognition of goodwill, or

| Timing differences arising on initial recognition of an asset or liability in a transaction that is not a business combination and that affects neither accounting nor taxable profit.

| The carrying amount of deferred tax assets is reviewed at each reporting date and reduced if recovery is no longer probable.

| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and are expected to apply when the timing differences reverse.

| Deferred tax is recognised on a non-discounted basis.

| Deferred tax is charged or credited to the profit and loss account, except where it relates to items recognised outside profit and loss (e.g., in other comprehensive income or equity). In such cases, the related deferred tax is also recognised in equity or other comprehensive income, in line with the underlying transaction.

| Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on the same taxable entity.

| Deferred tax is recognised in full on the revaluation of freehold property. The temporary difference arises because the carrying amount of the revalued asset exceeds its tax base. The resulting deferred tax liability is recognised directly in other comprehensive income, consistent with the treatment of the underlying revaluation gain, and is charged to the revaluation reserve.

| Foreign exchange

| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

| Leases

| 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 leases asset are consumed.

| Pension costs and other post-retirement benefits

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

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

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those cost are required to be recognised as part of the cost of stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| In the application of the company’s accounting policies, the director is 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.

| In the opinion of the directors there are no critical accounting judgements.

| The key source of estimation uncertainty, which may have a significant effect on the amounts recognised in the financial statements, relates to stock provisions. At the year end the director reviewed stocks for slow moving items and obsolescence. A provision has been included in these financial statements as noted in Note 13.

5. | TURNOVER

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

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Sale of goods | 16,482,525 |  | 14,321,647 |  |

| Commissions | 818,428 |  | 726,269 |  |

17,300,953 |  | 15,047,916 |  |

6. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,315,399 |  | 1,185,842 |  |

| Social security costs | 168,403 |  | 129,983 |  |

| Other pension costs | 168,163 |  | 189,140 |  |

1,651,965 |  | 1,504,965 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

6. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Sales and trading | 24 |  | 23 |  |

| Processing and administration | 4 |  | 4 |  |

28 |  | 27 |  |

| 2025 |  | 2024

£ | £ |

| Director's remuneration | 105,750 |  | 116,556 |  |

| Director's pension contributions to money purchase schemes | 60,000 |  | 75,000 |  |

7. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 6,567 |  | 8,231 |  |

| Depreciation - owned assets | 29,718 |  | 21,066 |  |

| Auditors' remuneration | 12,450 |  | 12,450 |  |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest on loans and overdrafts | 22,907 |  | 47,149 |  |

| Factoring charges | 173,053 |  | 193,933 |  |

195,960 |  | 241,082 |  |

9. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 143,612 |  | 155,029 |  |

| Under/over provision last year | - |  | 8,907 |  |

| Total current tax | 143,612 |  | 163,936 |  |

| Deferred tax | (3,784 | ) | (10,540 | ) |

| Tax on profit | 139,828 |  | 153,396 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

9. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 484,293 |  | 529,947 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 121,073 |  | 132,487 |  |

| Effects of:

| Expenses not deductible for tax purposes | 17,638 |  | 18,915 |  |

| Depreciation in excess of capital allowances | 4,901 |  | 4,395 |  |

| Adjustments to tax charge in respect of previous periods | - |  | (768 | ) |

| Deferred tax provision | (3,784 | ) | (10,540 | ) |

| Prior under provision | - |  | 8,907 |  |

| Total tax charge | 139,828 |  | 153,396 |  |

| Tax effects relating to effects of other comprehensive income |

| There were no tax effects for the year ended 31 December 2025.

| 2024 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Revaluation of property | 133,862 |  | (33,466 | ) | 100,396 |  |

10. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares shares of £1 each

| Interim | 300,000 |  | 225,000 |  |

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

11. | TANGIBLE FIXED ASSETS

| Improvements |

| Freehold |  | to |  | Plant and |  | Computer |

| Property |  | premises |  | machinery |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2025 | 1,676,528 |  | 213,884 |  | 48,763 |  | 42,365 |  | 1,981,540 |  |

| Additions | - |  | 7,500 |  | - |  | 4,904 |  | 12,404 |  |

| At 31 December 2025 | 1,676,528 |  | 221,384 |  | 48,763 |  | 47,269 |  | 1,993,944 |  |

| DEPRECIATION

| At 1 January 2025 | - |  | 140,428 |  | 26,169 |  | 27,496 |  | 194,093 |  |

| Charge for year | - |  | 17,646 |  | 5,648 |  | 6,424 |  | 29,718 |  |

| At 31 December 2025 | - |  | 158,074 |  | 31,817 |  | 33,920 |  | 223,811 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,676,528 |  | 63,310 |  | 16,946 |  | 13,349 |  | 1,770,133 |  |

| At 31 December 2024 | 1,676,528 |  | 73,456 |  | 22,594 |  | 14,869 |  | 1,787,447 |  |

| Cost or valuation at 31 December 2025 is represented by:

| Improvements |

| Freehold |  | to |  | Plant and |  | Computer |

| Property |  | premises |  | machinery |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| Valuation in 2025 | 797,680 |  | - |  | - |  | - |  | 797,680 |  |

| Cost | 878,848 |  | 221,384 |  | 48,763 |  | 47,269 |  | 1,196,264 |  |

1,676,528 |  | 221,384 |  | 48,763 |  | 47,269 |  | 1,993,944 |  |

| If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 878,849 |  | 878,849 |  |

| Aggregate depreciation | 169,307 |  | 169,307 |  |

| Freehold land and buildings were valued on an open market basis on 28 May 2025 by Brazier Freeth LLP .

| The Director has considered the value between the valuation date and the year end and does not consider there to be any material change to 31 December 2025.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

12. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 100,000 |  |

| NET BOOK VALUE

| At 31 December 2025 | 100,000 |  |

| At 31 December 2024 | 100,000 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Rapid Electrical Distributors (Watford) Limited

| Registered office: Unit 3 Trade City Watford, Wiggenhall Road, Watford, Hertfordshire, WD18 0EZ

| Nature of business: Wholesaler of electronic equipment

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Ordinary A and B | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 7,600 |  | 2,605 |  |

| Profit for the year | 4,995 |  | 1,706 |  |

| Fixed asset investments are included at cost less any provision for permanent diminution in value.

13. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 726,486 |  | 708,308 |  |

| Stocks are stated after provisions for slow movement and obsolescence of £Nil (2024: £40,319)

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 4,024,522 |  | 2,784,170 |  |

| Other debtors | 406,421 |  | 438,968 |  |

| Directors' loan accounts | 430,762 |  | 552,078 |  |

| Tax | 118,856 |  | 87,226 |  |

| Prepayments and accrued income | 127,506 |  | 101,664 |  |

5,108,067 |  | 3,964,106 |  |

| Amounts owed to group undertakings (included within other debtors) are interest free and repayable on demand.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 17) | 83,251 |  | 180,126 |  |

| Trade creditors | 3,261,335 |  | 1,901,555 |  |

| Corporation tax | 143,538 |  | 212,834 |  |

| Taxation and social security | 138,758 |  | 95,015 |  |

| Other creditors | 2,632,926 |  | 2,242,702 |  |

| Accrued expenses | 120,250 |  | 200,862 |  |

6,380,058 |  | 4,833,094 |  |

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans (see note 17) | 139,610 |  | 204,014 |  |

17. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 83,251 |  | 180,126 |  |

| Amounts falling due between one and two years:

| Bank loans | 139,610 |  | 204,014 |  |

18. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 49,195 |  | 76,996 |  |

| Between one and five years | 31,982 |  | 80,877 |  |

81,177 |  | 157,873 |  |

| Operating lease payments represent rentals payable by the company for property and vehicles.

| Vehicle leases are negotiated for an average term of 3 years and rentals are fixed for the term.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

19. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 222,861 |  | 384,140 |  |

| Factoring account | 2,521,527 |  | 2,203,536 |  |

2,744,388 |  | 2,587,676 |  |

| There are legal assignments of contract monies and fixed and floating charge over all assets as collateral of debts in favour of the company's banker for the banking facilities granted.

20. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Other timing differences | 199,418 |  | 199,418 |  |

| Deferred tax | 7,685 |  | 11,469 |  |

207,103 |  | 210,887 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 210,887 |  |

| Provided during year | (3,784 | ) |

| Balance at 31 December 2025 | 207,103 |  |

21. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid: |  |  | 2025 |  |  | 2024 |

| Number: |  | Class: |  | Nominal value: |  | £ |  |  | £ |

| 100 |  | Ordinary |  | £1 |  | 100 |  |  | 100 |

| 1 |  | Ordinary A |  | £1 |  | 1 |  |  | 1 |

| 1 |  | Ordinary B |  | £1 |  | 1 |  |  | 1 |

| 1 |  | Ordinary C |  | £1 |  | 1 |  |  | 1 |

|  | 103 |  |  | 103 |

| Each ordinary share issued has equal voting right. For Ordinary A, B and C shares, each class has their own right to receive dividends payable.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

22. | RESERVES

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 January 2025 | 902,884 |  | 767,568 |  | 1,670,452 |  |

| Profit for the year | 344,465 |  | 344,465 |  |

| Dividends | (300,000 | ) | (300,000 | ) |

| At 31 December 2025 | 947,349 |  | 767,568 |  | 1,714,917 |  |

23. | ULTIMATE PARENT COMPANY

| Rapid Electrical Distributors Holdings Limited is regarded by the director as being the company's ultimate parent company.

| The ultimate parent undertaking is Rapid Electrical Distributors Holdings Limited , the company which prepares the group's consolidated financial statements, by virtue of its 100% stake in the issued share capital of the parent undertaking (Rapid Electrical Distributors Limited). Copies of the consolidated financial statements for the year can be obtained from St Ann's Quay, 118 Quayside, Newcastle Upon Tyne, United Kingdom, NE1 3BD

24. | OTHER FINANCIAL COMMITMENTS

| The company is in a Composite Company Unlimited Multilateral Guarantee with HSBC bank that includes each trading company Rapid Renewables Limited, Rapid Electrical Distributors (Watford) and Rapid Electrical Distributors Limited.

25. | DIRECTORS LOANS AND ADVANCES

| The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025 | 2024 |

£ | £ |

| Mr N J Edwell

| Balance outstanding at start of year | 552,078 |  | 458,462 |  |

| Amounts advanced | 178,684 |  | 318,616 |  |

| Amounts repaid | (300,000 | ) | (225,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 430,762 |  | 552,078 |  |

| No interest has been charged to the director and the balance is repayable on demand.

RAPID ELECTRICAL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 05007840) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 DECEMBER 2025

26. | RELATED PARTY DISCLOSURES

| Information about related party transactions and outstanding balances is outlined below:

| Aggregated transactions with related parties in group

|  | Amount owed by related parties |  | Amounts owed to related parties |

| £ |  | £ |  |

| Year ended 31 December 2025 |  |  | 322,861 |  | 63,937 |

| Year ended 31 December 2024 |  |  | 123,470 |  | 75,866 |

| Aggregated transactions with related parties with common key management personnel

|  | Sales |  | Purchases |  | Management charge (income | Amount owed by related parties |  | Amounts owed to related parties |

| £ |  | £ |  | £ | £ |  | £ |  |

| Year ended 31 December 2025 |  | 352,531 |  | 317,429 |  | 163,426 | 217,070 |  | 79,175 |

| Year ended 31 December 2024 |  | 1,162,028 |  | 218,553 |  | 226,429 | 55,110 |  | 53,023 |

| Included in the above balances owed by and owed to related parties at the year end are trading balances totalling £173,470 owed by and £66,895 owed to which are subject to the terms set out on the particular invoices raised.The remaining balances are interest free and have no fixed date of repayment.

27. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Mr N J Edwell.

| Rapid Electrical Distributors Holdings Limited (immediate parent) prepares the consolidated financial statements for the group. Copies of the consolidated financial statements for the year can be obtained from St Ann's Quay, 118 Quayside, Newcastle Upon Tyne, United Kingdom, NE1 3BD