REGISTERED NUMBER: 05723976 (England and Wales)

Financial Statements

for the Year Ended 28 February 2026

for

ITC Service Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C G Potts

L Potts

SECRETARY:

C G Potts

REGISTERED OFFICE:

9 Merchant Court

Monkton Business Park South

Hebburn

United Kingdom

NE31 2EX

REGISTERED NUMBER:

05723976 (England and Wales)

SENIOR STATUTORY AUDITOR:

Kevin Shotton BA BFP FCA

AUDITORS:

Clive Owen LLP

Chartered Accountants & Statutory Auditors

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

13,750

-

Tangible assets

5

168,795

160,534

182,545

160,534

CURRENT ASSETS

Stocks

6

56,587

81,573

Debtors

7

1,195,461

1,016,726

Cash at bank

4,542,614

4,415,730

5,794,662

5,514,029

CREDITORS

Amounts falling due within one year

8

(2,282,649

)

(3,047,407

)

NET CURRENT ASSETS

3,512,013

2,466,622

TOTAL ASSETS LESS CURRENT LIABILITIES

3,694,558

2,627,156

PROVISIONS FOR LIABILITIES

11

(31,433

)

(36,533

)

NET ASSETS

3,663,125

2,590,623

CAPITAL AND RESERVES

Called up share capital

12

10

10

Retained earnings

13

3,663,115

2,590,613

SHAREHOLDERS' FUNDS

3,663,125

2,590,623

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2026 and were signed on its behalf by:

C G Potts - Director

1.	STATUTORY INFORMATION

ITC Service 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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 with wholly owned subsidiaries within the group nor those conducted under normal market terms.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition

Turnover is recognised when the goods have been despatched or service works have been completed.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2025 - 49 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

15,000

At 28 February 2026

15,000

AMORTISATION

Amortisation for year

1,250

At 28 February 2026

1,250

NET BOOK VALUE

At 28 February 2026

13,750

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 March 2025

118,176

15,101

68,752

100,187

302,216

Additions

7,236

-

44,585

11,489

63,310

Disposals

-

-

-

(2,605

)

(2,605

)

At 28 February 2026

125,412

15,101

113,337

109,071

362,921

DEPRECIATION

At 1 March 2025

46,162

7,778

30,832

56,910

141,682

Charge for year

18,456

2,298

20,626

12,735

54,115

Eliminated on disposal

-

-

-

(1,671

)

(1,671

)

At 28 February 2026

64,618

10,076

51,458

67,974

194,126

NET BOOK VALUE

At 28 February 2026

60,794

5,025

61,879

41,097

168,795

At 28 February 2025

72,014

7,323

37,920

43,277

160,534

6.

STOCKS

2026

2025

£

£

Stocks

23,931

25,360

Work-in-progress

32,656

56,213

56,587

81,573

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,043,586

840,136

Other debtors

781

53,634

Prepayments and accrued income

151,094

122,956

1,195,461

1,016,726

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

296,435

263,105

Amounts owed to group undertakings

971,371

1,732,856

Taxation and social security

368,826

501,736

Other creditors

7,943

12,343

Accruals and deferred income

638,074

537,367

2,282,649

3,047,407

9.	LEASING AGREEMENTS

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

2026

2025

£

£

Within one year

40,000

40,000

Between one and five years

160,000

160,000

In more than five years

103,333

143,333

303,333

343,333

10.	SECURED DEBTS

The company has guaranteed the fixed and floating charge over the assets of the company facility provided to its parent company, ITCGH Limited. At the reporting date the amount outstanding under that facility, being the maximum potential liability of the company under the guarantee, was £4,841,868. No provision has been made as the directors do not consider it probable that a payment will be required under the guarantee.

11.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

31,433

36,533

Deferred

tax

£

Balance at 1 March 2025

36,533

Provided during year

(5,100

)

Balance at 28 February 2026

31,433

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

10

Ordinary

£1

10

10

13.

RESERVES

Retained

earnings

£

At 1 March 2025

2,590,613

Profit for the year

1,072,502

At 28 February 2026

3,663,115

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

15.	CAPITAL COMMITMENTS

2026

2025

£

£

Contracted but not provided for in the

financial statements

58,660

-

16.	ULTIMATE CONTROLLING PARTY

ITC Service Limited is a wholly owned subsidiary of ITCSH Limited, a company registered in England. The registered office of ITCSH Limited is 9 Merchant Court, Monkton Business Park South, Hebburn, England, NE31 2EX, which is also the company's principal place of business.

The ultimate controlling party is ITCGH Limited, a company incorporated in England whose registered office address is 9 Merchant Court, Monkton Business Park South, Hebburn, England, NE31 2EX.