Caseware UK (AP4) 2024.0.164 2024.0.164 2025-12-31 2025-12-31 2025-12-31 false false 3 2025-01-01 true 74990 - Non-trading company 3 false false 07101483 2025-01-01 2025-12-31 07101483 2024-01-01 2024-12-31 07101483 2025-12-31 07101483 2024-12-31 07101483 2024-01-01 07101483 1 2025-01-01 2025-12-31 07101483 d:Director1 2025-01-01 2025-12-31 07101483 d:Director2 2025-01-01 2025-12-31 07101483 d:Director3 2025-01-01 2025-12-31 07101483 d:RegisteredOffice 2025-01-01 2025-12-31 07101483 d:Agent1 2025-01-01 2025-12-31 07101483 c:Buildings 2025-01-01 2025-12-31 07101483 c:Buildings 2025-12-31 07101483 c:Buildings 2024-12-31 07101483 c:Buildings c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 07101483 c:Buildings c:ShortLeaseholdAssets 2025-01-01 2025-12-31 07101483 c:PlantMachinery 2025-01-01 2025-12-31 07101483 c:MotorVehicles 2025-01-01 2025-12-31 07101483 c:FurnitureFittings 2025-01-01 2025-12-31 07101483 c:FurnitureFittings 2025-12-31 07101483 c:FurnitureFittings 2024-12-31 07101483 c:FurnitureFittings c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 07101483 c:ComputerEquipment 2025-01-01 2025-12-31 07101483 c:ComputerEquipment 2025-12-31 07101483 c:ComputerEquipment 2024-12-31 07101483 c:ComputerEquipment c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 07101483 c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 07101483 c:CurrentFinancialInstruments 2025-12-31 07101483 c:CurrentFinancialInstruments 2024-12-31 07101483 c:CurrentFinancialInstruments 1 2025-12-31 07101483 c:CurrentFinancialInstruments 1 2024-12-31 07101483 c:Non-currentFinancialInstruments 2025-12-31 07101483 c:Non-currentFinancialInstruments 2024-12-31 07101483 c:CurrentFinancialInstruments c:WithinOneYear 2025-12-31 07101483 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 07101483 c:Non-currentFinancialInstruments c:AfterOneYear 2025-12-31 07101483 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 07101483 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2025-12-31 07101483 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-12-31 07101483 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2025-12-31 07101483 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-12-31 07101483 c:ShareCapital 2025-12-31 07101483 c:ShareCapital 2024-12-31 07101483 c:ShareCapital 2024-01-01 07101483 c:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 07101483 c:RetainedEarningsAccumulatedLosses 2025-12-31 07101483 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 07101483 c:RetainedEarningsAccumulatedLosses 2024-12-31 07101483 c:RetainedEarningsAccumulatedLosses 2024-01-01 07101483 d:OrdinaryShareClass2 2025-01-01 2025-12-31 07101483 d:OrdinaryShareClass2 2025-12-31 07101483 d:OrdinaryShareClass2 2024-12-31 07101483 d:OrdinaryShareClass3 2025-01-01 2025-12-31 07101483 d:OrdinaryShareClass3 2025-12-31 07101483 d:OrdinaryShareClass3 2024-12-31 07101483 d:OrdinaryShareClass4 2025-01-01 2025-12-31 07101483 d:OrdinaryShareClass4 2025-12-31 07101483 d:OrdinaryShareClass4 2024-12-31 07101483 d:OrdinaryShareClass5 2025-01-01 2025-12-31 07101483 d:OrdinaryShareClass5 2025-12-31 07101483 d:OrdinaryShareClass5 2024-12-31 07101483 d:FRS102 2025-01-01 2025-12-31 07101483 d:Audited 2025-01-01 2025-12-31 07101483 d:FullAccounts 2025-01-01 2025-12-31 07101483 d:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 07101483 c:Subsidiary1 2025-01-01 2025-12-31 07101483 c:Subsidiary1 1 2025-01-01 2025-12-31 07101483 c:Subsidiary2 2025-01-01 2025-12-31 07101483 c:Subsidiary2 1 2025-01-01 2025-12-31 07101483 c:Subsidiary3 2025-01-01 2025-12-31 07101483 c:Subsidiary3 1 2025-01-01 2025-12-31 07101483 c:Subsidiary4 2025-01-01 2025-12-31 07101483 c:Subsidiary4 1 2025-01-01 2025-12-31 07101483 d:Consolidated 2025-12-31 07101483 d:ConsolidatedGroupCompanyAccounts 2025-01-01 2025-12-31 07101483 c:AcceleratedTaxDepreciationDeferredTax 2025-12-31 07101483 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07101483 2 2025-01-01 2025-12-31 07101483 6 2025-01-01 2025-12-31 07101483 f:PoundSterling 2025-01-01 2025-12-31 07101483 c:KeyManagementIndividualGroup1 2025-12-31 07101483 c:KeyManagementIndividualGroup1 2024-12-31 07101483 c:KeyManagementIndividualGroup2 2025-12-31 07101483 c:KeyManagementIndividualGroup2 2024-12-31 07101483 c:KeyManagementIndividualGroup3 2025-12-31 07101483 c:KeyManagementIndividualGroup3 2024-12-31 07101483 c:KeyManagementIndividualGroup1 2025-01-01 2025-12-31 07101483 c:KeyManagementIndividualGroup2 2025-01-01 2025-12-31 07101483 c:KeyManagementIndividualGroup3 2025-01-01 2025-12-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number: 07101483 OLDFIELD GROUP (SKIPTON) LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
OLDFIELD GROUP (SKIPTON) LIMITED COMPANY INFORMATION
Directors | M C Bell
| R G Bell
| A J Smith
Registered number | 07101483
Registered office | Unit 6a
| Snaygill Industrial Estate
| Keighley Road
| Skipton
| North Yorkshire
| BD23 2QR
Independent auditors | Armstrong Watson Audit Limited
| Chartered Accountants & Statutory Auditors
| Number 3
| Acorn Business Park
| Airedale Business Centre
| Skipton
| North Yorkshire
| BD23 2UE
Bankers | National Westminster Bank PLC
| Exchange Buildings
| 88 High Street
| Skipton
| North Yorkshire
| BD23 1JA
OLDFIELD GROUP (SKIPTON) LIMITED CONTENTS
| Page
Group Strategic Report | 1 - 2
Directors' Report | 3 - 4
Independent Auditors' Report | 5 - 8
Consolidated Statement of Comprehensive Income | 9
Consolidated Statement of Financial Position | 10
Company Statement of Financial Position | 11
Consolidated Statement of Changes in Equity | 12
Company Statement of Changes in Equity | 12
Consolidated Statement of Cash Flows | 13
Notes to the Financial Statements | 14 - 33
OLDFIELD GROUP (SKIPTON) LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Introduction
The directors have pleasure in presenting their report and the financial statements of the group for the year ended 31 December 2025.
Business review
The principal activity of the group for the year under review was that of the sale of electrical and lighting supplies and solar panels. The group trades from various branches located in Skipton, Keighley, Clitheroe, Kendal and Guiseley. The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and the group's position at the year end. The review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties faced.
Principal risks and uncertainties
The business environment in which the group operates continues to be challenging. The electrical wholesale industry in the UK is highly competitive. The group manages such risks by appropriate quality and service programmes and through negotiated agreements with its major suppliers. With these risks and uncertainties in mind, the directors are aware that any plans for the future development of the business may be subject to unforeseen future events outside of their control. Financial risk The group's operations expose it to a variety of financial risks that include the effect of changes in credit, liquidity and interest rate risk. The group has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the group. The group does not use derivative financial instruments to manage interest rate costs. Credit risk The group has implemented policies that require appropriate credit checks on corporate customers before sales are made. Liquidity risk The directors believe that the group has sufficient funds available to support its activities in the future. The directors manage liquidity through a combination of working capital management, cash reserves and debt financing mainly in the form of invoice discounting facilities. Page 1
OLDFIELD GROUP (SKIPTON) LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Financial key performance indicators
The directors consider the key financial performance indicators are those that communicate the financial performance and strength of the group as a whole, being turnover, gross margin and profitability before taxation. During the year turnover has increased from £20,076,610 in 2024 to £21,827,716 in 2025. Gross profit has increased from £6,331,730 in 2024 to £6,815,839 in 2025. Overall, profit before taxation has decreased from £1,329,057 in 2024 to £1,127,092 in 2025. After taxation and dividends, shareholders' funds have increased from £3,488,480 to £3,687,935 at the year end which continues to demonstrate the strong growth and strength of the group as a whole. This report was approved by the board and signed on its behalf.
................................................ R G Bell Director
Date: 8 July 2026
Page 2
OLDFIELD GROUP (SKIPTON) 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.
Directors' responsibilities statement
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Group's financial statements 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 Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £799,455 (2024 - £950,757). The directors have not recommended a final dividend.
Directors
The directors who served during the year were:
M C Bell
R G Bell
A J Smith
Matters covered in the Group Strategic Report
Information is not shown in the directors' report because it is shown in the strategic report under s414C(11). The strategic report includes a business review, principal risks and uncertainties and financial key performance indicators.
Disclosure of information to auditors
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 and the Group's auditors are 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 and the Group's auditors are aware of that information. Page 3
OLDFIELD GROUP (SKIPTON) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Auditors
Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier. This report was approved by the board and signed on its behalf.
................................................ R G Bell Director
Date: 8 July 2026
Page 4
OLDFIELD GROUP (SKIPTON) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OLDFIELD GROUP (SKIPTON) LIMITED
Opinion
We have audited the financial statements of Oldfield Group (Skipton) Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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 Group's and of the Parent Company's affairs as at 31 December 2025 and of the Group's 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 Group 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 Group's or the Parent 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. Page 5
OLDFIELD GROUP (SKIPTON) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OLDFIELD GROUP (SKIPTON) LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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 Group 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 Group 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 Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or ∙the Parent Company 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 3, 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 Group's and the Parent 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 Group or the Parent Company or to cease operations, or have no realistic alternative but to do so. Page 6
OLDFIELD GROUP (SKIPTON) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OLDFIELD GROUP (SKIPTON) LIMITED (CONTINUED)
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 an Auditors' 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 Group 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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: •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 group and company through discussions with directors and other management and review of appropriate industry knowledge; •we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; 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 Group and Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: •making enquiries of 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 as a risk assessment tool to identify any unusual or unexpected relationships; •tested journal entries to identify unusual transactions; and tested the operating effectiveness of key controls over purchase cycles on a sample basis. •reviewed the application of accounting policies with focus on those with heightened estimation uncertainty. 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; and •enquiring of management as to actual and potential litigation and claims. Page 7
OLDFIELD GROUP (SKIPTON) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OLDFIELD GROUP (SKIPTON) LIMITED (CONTINUED) Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 Auditors' Report.
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 an Auditors' 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 members, as a body, for our audit work, for this report, or for the opinions we have formed. Rohan Day (Senior Statutory Auditor) for and on behalf of Armstrong Watson Audit Limited Chartered Accountants & Statutory Auditors Skipton 8 July 2026 Page 8
OLDFIELD GROUP (SKIPTON) LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 21,827,716 | 20,076,610
Cost of sales |  | (15,011,877) | (13,744,880)
Gross profit |  | 6,815,839 | 6,331,730
Administrative expenses |  | (5,612,231) | (4,893,261)
Other operating income | 5 | 4,682 | 4,781
Operating profit | 6 | 1,208,290 | 1,443,250
Interest receivable and similar income | 10 | 13,592 | 9,591
Interest payable and similar expenses | 11 | (94,790) | (123,784)
Profit before taxation |  | 1,127,092 | 1,329,057
Tax on profit | 13 | (327,637) | (378,300)
Profit for the financial year |  | 799,455 | 950,757
Profit for the year attributable to: |  |  |
Owners of the Parent Company |  | 799,455 | 950,757
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 14 to 33 form part of these financial statements.
Page 9
OLDFIELD GROUP (SKIPTON) LIMITED REGISTERED NUMBER: 07101483 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 14 |  | 2,963,792 |  | 3,041,560
|  |  | 2,963,792 |  | 3,041,560
Current assets |  |  |  |  |
Stocks | 16 | 1,629,517 |  | 1,664,737 |
Debtors: amounts falling due within one year | 17 | 4,084,156 |  | 4,142,831 |
Cash at bank and in hand | 18 | 58,612 |  | 173,608 |
|  | 5,772,285 |  | 5,981,176 |
Creditors: amounts falling due within one year | 19 | (4,109,174) |  | (4,355,305) |
Net current assets |  |  | 1,663,111 |  | 1,625,871
Total assets less current liabilities |  |  | 4,626,903 |  | 4,667,431
Creditors: amounts falling due after more than one year | 20 |  | (809,181) |  | (1,046,631)
Provisions for liabilities |  |  |  |  |
Deferred tax | 24 | (129,787) |  | (132,320) |
|  |  | (129,787) |  | (132,320)
Net assets |  |  | 3,687,935 |  | 3,488,480
Capital and reserves |  |  |  |  |
Called up share capital | 25 |  | 104 |  | 104
Profit and loss account |  |  | 3,687,831 |  | 3,488,376
|  |  | 3,687,935 |  | 3,488,480
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ R G Bell
Director
Date: 8 July 2026
The notes on pages 14 to 33 form part of these financial statements. Page 10
OLDFIELD GROUP (SKIPTON) LIMITED REGISTERED NUMBER: 07101483 COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 14 |  | 2,492,043 |  | 2,470,700
Investments | 15 |  | 7,000 |  | 7,000
|  |  | 2,499,043 |  | 2,477,700
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 17 | 526,520 |  | 504,374 |
Cash at bank and in hand | 18 | 21,698 |  | 14,097 |
|  | 548,218 |  | 518,471 |
Creditors: amounts falling due within one year | 19 | (1,998,244) |  | (1,902,601) |
Net current liabilities |  |  | (1,450,026) |  | (1,384,130)
Total assets less current liabilities |  |  | 1,049,017 |  | 1,093,570
Creditors: amounts falling due after more than one year | 20 |  | (739,804) |  | (845,709)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 24 | (33,562) |  | (30,098) |
|  |  | (33,562) |  | (30,098)
Net assets |  |  | 275,651 |  | 217,763
Capital and reserves |  |  |  |  |
Called up share capital | 25 |  | 104 |  | 104
Profit and loss account brought forward |  | 217,659 |  | 155,015 |
Profit for the year |  | 657,888 |  | 682,644 |
Dividends paid |  | (600,000) |  | (620,000) |
Profit and loss account carried forward |  |  | 275,547 |  | 217,659
|  |  | 275,651 |  | 217,763
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ R G Bell
Director
Date: 8 July 2026
The notes on pages 14 to 33 form part of these financial statements. Page 11
OLDFIELD GROUP (SKIPTON) LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Equity attributable to owners of Parent Company | Total equity
| £ | £ | £ | £
At 1 January 2024 | 104 | 3,157,619 | 3,157,723 | 3,157,723
Profit for the year | - | 950,757 | 950,757 | 950,757
Dividends: Equity capital | - | (620,000) | (620,000) | (620,000)
At 1 January 2025 | 104 | 3,488,376 | 3,488,480 | 3,488,480
Profit for the year | - | 799,455 | 799,455 | 799,455
Dividends: Equity capital | - | (600,000) | (600,000) | (600,000)
At 31 December 2025 | 104 | 3,687,831 | 3,687,935 | 3,687,935
| The notes on pages 14 to 33 form part of these financial statements.
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 104 | 155,015 | 155,119
Comprehensive income for the year |  |  |
Profit for the year | - | 682,644 | 682,644
Dividends: Equity capital | - | (620,000) | (620,000)
At 1 January 2025 | 104 | 217,659 | 217,763
Comprehensive income for the year |  |  |
Profit for the year | - | 657,888 | 657,888
Dividends: Equity capital | - | (600,000) | (600,000)
At 31 December 2025 | 104 | 275,547 | 275,651
| The notes on pages 14 to 33 form part of these financial statements.
Page 12
OLDFIELD GROUP (SKIPTON) LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 799,455 | 950,757
Adjustments for: |  |
Depreciation of tangible assets | 308,196 | 323,207
Loss on disposal of tangible assets | (13,159) | (78,358)
Interest paid | 94,791 | 123,784
Interest received | (13,592) | (9,591)
Taxation charge | 327,637 | 378,300
Decrease/(increase) in stocks | 35,220 | (119,637)
Decrease/(increase) in debtors | 58,670 | (562,389)
Increase in creditors | 346,736 | 459,243
Corporation tax (paid) | (271,225) | (487,027)
Net cash generated from operating activities | 1,672,729 | 978,289
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (260,769) | (460,407)
Sale of tangible fixed assets | 43,500 | 134,875
Interest received | 13,592 | 9,591
HP interest paid | (17,769) | (17,769)
Net cash from investing activities | (221,446) | (333,710)
Cash flows from financing activities |  |
Repayment of loans | (241,368) | (234,713)
Repayment of other loans | (168,000) | (168,000)
Repayment of/new finance leases | (98,425) | 110,441
Movements on invoice discounting | (427,062) | 444,483
Dividends paid | (600,000) | (620,000)
Interest paid | (77,022) | (106,015)
Net cash used in financing activities | (1,611,877) | (573,804)
Net (decrease)/increase in cash and cash equivalents | (160,594) | 70,775
Cash and cash equivalents at beginning of year | (74,406) | (145,181)
Cash and cash equivalents at the end of year | (235,000) | (74,406)
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 58,612 | 173,608
Bank overdrafts | (293,612) | (248,014)
| (235,000) | (74,406)
Page 13
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Oldfield Group (Skipton) Limited is the holding company to a trading group, operating from its registered office of Unit 6, Snaygill Industrial Estate, Keighley Road, Skipton, North Yorkshire, BD23 2QR. The company is a private company limited by shares and domiciled in the United Kingdom. The company is a tax resident in the United Kingdom. The principal activity of Oldfield Electrical Supplies Limited is the sale of electrical and lighting supplies and solar panels. The company operates from various branches located in Skipton, Keighley, Clitheroe, Kendal and Guiseley. Eleconline Limited, Oldfield Home Controls Limited and Oldfield Lighting Supplies Limited are all dormant companies. These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates. 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 Group management to exercise judgement in applying the Group's accounting policies (see note 3). The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2015. Page 14
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Going concern
The directors believe that the Group has adequate resources to continue in operational existence for a period of no less than 12 months from the approval of the financial statements. The parent company is showing a net current liability position in their individual financial statements as at 31 December 2025 of £1,450,026. Oldfield Electrical Supplies Limited has agreed to defer its intercompany balance at the year end in favour of other creditors in order to maintain the company as a going concern. The directors and shareholders have indicated their continued support for all entities within the group in order to further support the group's trading activities. After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue 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 revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Group has transferred the significant risks and rewards of ownership to the buyer; ∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Group 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. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Group will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the Group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 15
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Consolidated Statement of Comprehensive Income in the same period as the related expenditure.
| 2.7 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.8 | 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.
| 2.9 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.10 | Pensions
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds. Page 16
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.11 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.12 | 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. Page 17
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.12 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods listed below. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 2% straight line
|  |  |  | Leasehold property improvements | - | Over the term of the lease
|  |  |  | Plant and machinery | - | 25% reducing balance, 20% & 33% straight line
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Fixtures and fittings | - | 33% on cost
|  |  |  | Computer equipment | - | 20% on cost, 25% reducing balance
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.
| 2.13 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 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 is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting 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.
| 2.15 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.16 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management. Page 18
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.17 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.18 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.19 | Financial instruments
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Group's Statement of Financial Position when the Group 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities 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 Group after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Page 19
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.19 | Financial instruments (continued)
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.20 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Judgements and estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The group makes estimates and assumptions concerning the future. The resulting accounting estimates will be, by definition, seldom equal to the related actual results. The directors consider the key accounting estimates to be provision for trade debtors, useful life and residual value of tangible fixed assets, and provision for obsolete stock. Provisions for trade debtors are reviewed by the directors on an ongoing basis who use their specific industry knowledge and experience to ensure the correct judgements. The useful lives and residual values of tangible fixed assets are reviewed on an ongoing basis by the directors. Provisions for obsolete stock are reviewed by the directors on an ongoing basis who use their specific industry knowledge and experience to ensure the correct judgements.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Sale of electrical and lighting supplies and solar panels | 21,827,716 | 20,076,610
| All turnover arose within the United Kingdom.
Page 20
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Sundry income | 4,682 | 4,781
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 308,196 | 323,757
| Other operating lease rentals | 71,040 | 68,540
7. | Auditors' remuneration
| During the year, the Group obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements | 24,220 | 24,000
8. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Wages and salaries | 3,423,195 | 3,059,487 | 33,843 | 46,572
| Social security costs | 408,584 | 327,423 | - | -
| Cost of defined contribution scheme | 137,033 | 99,830 | 50,000 | 26,667
|  | 3,968,812 | 3,486,740 | 83,843 | 73,239
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  | Management and administration | 71 | 72 | 3 | 3
Page 21
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 31,800 | 45,951
| Group contributions to defined contribution pension schemes | 50,000 | 26,667
|  | 81,800 | 72,618
| During the year retirement benefits were accruing to 1 director (2024 - 1) in respect of defined contribution pension schemes.
10. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 13,592 | 9,591
11. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | 67,437 | 94,278
| Other loan interest payable | 4,993 | 11,737
| Finance leases and hire purchase contracts | 22,360 | 17,769
|  | 94,790 | 123,784
12. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends on equity capital | 600,000 | 620,000
Page 22
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 340,904 | 334,970
| Adjustments in respect of previous periods | (10,734) | (2,278)
|  | 330,170 | 332,692
| Total current tax | 330,170 | 332,692
| Origination and reversal of timing differences | (2,533) | 45,608
| Total deferred tax | (2,533) | 45,608
| Tax on profit | 327,637 | 378,300
| Factors affecting tax charge for the year
| The tax assessed for the year is higher 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 on ordinary activities before tax | 1,127,092 | 1,329,057
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 281,773 | 332,264
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 28,066 | 14,884
| Capital allowances for year in excess of depreciation | 15,903 | 33,893
| Adjustments to tax charge in respect of prior periods | (10,734) | (2,279)
| Movement in deferred tax not recognised | 13,297 | -
| Marginal relief | (668) | (462)
| Total tax charge for the year | 327,637 | 378,300
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 23

|  | OLDFIELD GROUP (SKIPTON) LIMITED |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| 14. | Tangible fixed assets
|  | Group
|  | Freehold property | Short-term leasehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |  |  |
| At 1 January 2025 | 2,779,208 | 623,549 | 303,143 | 855,054 | 4,096 | 12,540 | 4,577,590
| Additions | 144,464 | - | 29,560 | 86,745 | - | - | 260,769
| Disposals | - | - | - | (120,445) | - | - | (120,445)
| At 31 December 2025 | 2,923,672 | 623,549 | 332,703 | 821,354 | 4,096 | 12,540 | 4,717,914
| Depreciation |  |  |  |  |  |  |
| At 1 January 2025 | 308,508 | 547,881 | 256,075 | 406,930 | 4,096 | 12,540 | 1,536,030
| Charge for the year on owned assets | 123,121 | 25,081 | 30,957 | 33,054 | - | - | 212,213
| Charge for the year on financed assets | - | - | - | 95,983 | - | - | 95,983
| Disposals | - | - | - | (90,104) | - | - | (90,104)
| At 31 December 2025 | 431,629 | 572,962 | 287,032 | 445,863 | 4,096 | 12,540 | 1,754,122
| Net book value |  |  |  |  |  |  |
| At 31 December 2025 | 2,492,043 | 50,587 | 45,671 | 375,491 | - | - | 2,963,792
| At 31 December 2024 | 2,470,700 | 75,668 | 47,068 | 448,124 | - | - | 3,041,560
Page 24

OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14.Tangible fixed assets (continued)
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Freehold | 2,492,042 | 2,470,700
| Short leasehold | 50,587 | 75,668
|  | 2,542,629 | 2,546,368
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 351,780 | 406,469
| Company
|  | Freehold property | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2025 | 2,779,208 | 4,096 | 12,540 | 2,795,844
| Additions | 144,464 | - | - | 144,464
| At 31 December 2025 | 2,923,672 | 4,096 | 12,540 | 2,940,308
| Depreciation |  |  |  |
| At 1 January 2025 | 308,508 | 4,096 | 12,540 | 325,144
| Charge for the year on owned assets | 123,121 | - | - | 123,121
| At 31 December 2025 | 431,629 | 4,096 | 12,540 | 448,265
| Net book value |  |  |  |
| At 31 December 2025 | 2,492,043 | - | - | 2,492,043
| At 31 December 2024 | 2,470,700 | - | - | 2,470,700
Page 25
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
15. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2025 | 7,000
| At 31 December 2025 | 7,000
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Principal activity | Class of shares | Holding
| Oldfield Electrical Supplies Limited | Unit 6, Snaygill Industrial Estate, Skipton, BD23 2QR | Sale of electrical and lighting supplies and solar panels | Ordinary | 100%
| Oldfield Lighting Supplies Limited | Unit 6b, Snaygill Industrial Estate, Skipton, BD23 2QR | Dormant | Ordinary | 100%
| Oldfield Home Controls Limited | Unit 6b, Snaygill Industrial Estate, Skipton, BD23 2QR | Dormant | Ordinary | 100%
| Eleconline Limited | Unit 6, Snaygill Industrial Estate, Skipton, BD23 2QR | Dormant | Ordinary | 50%
| The aggregate of the share capital and reserves as at 31 December 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
|  | £ | £
| Oldfield Electrical Supplies Limited | 3,417,288 | 781,566
| Oldfield Lighting Supplies Limited | 1,000 | -
| Oldfield Home Controls Limited | 1,000 | -
| Eleconline Limited | - | -
Page 26
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. | Stocks
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Finished goods and goods for resale | 1,629,517 | 1,664,737
17. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 3,099,416 | 3,149,606 | 20,400 | 20,400
| Other debtors | 984,740 | 993,225 | 506,120 | 483,974
|  | 4,084,156 | 4,142,831 | 526,520 | 504,374
18. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 58,612 | 173,608 | 21,698 | 14,097
| Less: bank overdrafts | (293,612) | (248,014) | - | -
|  | (235,000) | (74,406) | 21,698 | 14,097
Page 27
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
19. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank overdrafts | 293,612 | 248,014 | - | -
| Bank loans | 124,130 | 234,713 | 64,130 | 54,713
| Other loans | 26,000 | 158,880 | 26,000 | 158,880
| Trade creditors | 2,333,388 | 2,135,931 | 25 | 10,743
| Amounts owed to group undertakings | - | - | 1,871,902 | 1,642,441
| Corporation tax | 173,892 | 114,946 | 19,457 | 23,026
| Other taxation and social security | 327,812 | 277,507 | 13,839 | 9,907
| Obligations under finance lease and hire purchase contracts | 107,678 | 134,558 | - | -
| Proceeds of factored debts | 242,972 | 670,034 | - | -
| Other creditors | 479,690 | 380,722 | 2,891 | 2,891
|  | 4,109,174 | 4,355,305 | 1,998,244 | 1,902,601
| Amounts owed to group undertakings are repayable on demand with no interest incurred on amounts due. The following liabilities were secured:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | 124,130 | 234,713 | 64,130 | 54,713
| Bank overdrafts | 293,612 | 248,014 | - | -
| Obligations under finance lease and hire purchase contracts | 107,678 | 134,558 | - | -
| Proceeds of factored debts | 242,972 | 670,034 | - | -
|  | 768,392 | 1,287,319 | 64,130 | 54,713
| There is an unlimited cross guarantee given by Oldfield Electrical Supplies Limited to secure certain of the bank borrowings. Security is given by way of a legal charge over the group's freehold property and a debenture over assets of the group. Proceeds of factored debts are secured against the debtors to which they relate. The obligations under hire purchase contracts are secured by charges over assets acquired under the relevant agreements.
Page 28
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
20. | Creditors: Amounts falling due after more than one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | 739,804 | 870,589 | 739,804 | 810,589
| Other loans | - | 35,120 | - | 35,120
| Net obligations under finance leases and hire purchase contracts | 69,377 | 140,922 | - | -
|  | 809,181 | 1,046,631 | 739,804 | 845,709
| The following liabilities were secured:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | 739,804 | 870,589 | 739,804 | 810,589
| Net obligations under finance leases and hire purchase contracts | 69,377 | 140,922 | - | -
|  | 809,181 | 1,011,511 | 739,804 | 810,589
| Details of security provided:
There is an unlimited cross guarantee given by Oldfield Electrical Supplies Limited to secure certain of the bank borrowings. Security is given by way of a legal charge over the group's freehold property and a debenture over assets of the group. The obligations under hire purchase contracts are secured by charges over assets acquired under the relevant agreements. Page 29
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
21. | Loans
| Analysis of the maturity of loans is given below:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Amounts falling due within one year |  |  |  |
| Bank loans | 124,130 | 234,713 | 64,130 | 54,713
| Other loans | 26,000 | 158,880 | 26,000 | 158,880
|  | 150,130 | 393,593 | 90,130 | 213,593
| Amounts falling due 1-2 years |  |  |  |
| Bank loans | 64,130 | 870,589 | 64,130 | 810,589
| Other loans | - | 35,120 | - | 35,120
|  | 64,130 | 905,709 | 64,130 | 845,709
| Amounts falling due 2-5 years |  |  |  |
| Bank loans | 675,674 | - | 675,674 | -
|  | 889,934 | 1,299,302 | 829,934 | 1,059,302
22. | Analysis of net debt
|  | At 1 January 2025 | Cash flows | Other movements | New loans and finance leases | Repayments of loans and finance leases | At 31 December 2025
|  | £ | £ | £ | £ | £ | £
| Cash at bank and in hand | 173,608 | (114,996) | - | - | - | 58,612
| Bank overdrafts | (248,014) | (45,598) | - | - | - | (293,612)
| Bank loans due after one year | (870,590) | - | 130,786 | - | - | (739,804)
| Bank loans due within one year | (234,713) | - | (130,786) | - | 241,369 | (124,130)
| Other loan | (194,000) | - | - | - | 168,000 | (26,000)
| Finance leases | (275,480) | - | - | (37,300) | 135,725 | (177,055)
Page 30
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
23. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Within one year | 107,678 | 134,558
| Between 1-5 years | 69,377 | 140,922
|  | 177,055 | 275,480
24. | Deferred taxation
| Group
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 132,320 | 86,712
| Charged to profit or loss | (2,533) | 45,608
| At end of year | 129,787 | 132,320
| Company
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 30,098 | 5,505
| Charged to profit or loss | 3,464 | 24,593
| At end of year | 33,562 | 30,098
| The provision for deferred taxation is made up as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Accelerated capital allowances | 129,787 | 132,320 | 33,562 | 30,098
Page 31
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
25. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 26 (2024 - 26) 'A' Ordinary shares of £1.00 each | 26 | 26
|  | 23 (2024 - 23) 'B' Ordinary shares of £1.00 each | 23 | 23
|  | 13 (2024 - 13) 'C' Ordinary shares of £1.00 each | 13 | 13
|  | 11 (2024 - 11) 'D' Ordinary shares of £1.00 each | 11 | 11
|  | 13 (2024 - 13) 'E' Ordinary shares of £1.00 each | 13 | 13
|  | 11 (2024 - 11) 'F' Ordinary shares of £1.00 each | 11 | 11
|  | 1 (2024 - 1) 'G' Ordinary share of £1.00 | 1 | 1
|  | 1 (2024 - 1) 'H' Ordinary share of £1.00 | 1 | 1
|  | 1 (2024 - 1) 'I' Ordinary share of £1.00 | 1 | 1
|  | 1 (2024 - 1) 'J' Ordinary share of £1.00 | 1 | 1
|  | 1 (2024 - 1) 'K' Ordinary share of £1.00 | 1 | 1
|  | 1 (2024 - 1) 'L' Ordinary share of £1.00 | 1 | 1
|  | 1 (2024 - 1) 'M' Ordinary share of £1.00 | 1 | 1
|  |  | 104 | 104
| All classes of share capital carry full voting rights and no restriction on the distribution of dividends and the repayment of capital.
26. | Pension commitments
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and these amounted to £137,033 (2024 - £99,830).
27. | Commitments under operating leases
| At 31 December 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Not later than 1 year | 133,300 | 187,802
| Later than 1 year and not later than 5 years | 79,103 | 184,473
| Later than 5 years | - | 2,500
|  | 212,403 | 374,775
| The Company had no commitments under non-cancellable operating leases at the reporting date.
Page 32
OLDFIELD GROUP (SKIPTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
28. | Transactions with directors
Included within other debtors, amounts falling due within one year is an amount due from M Bell of £312,800 (2024 - £347,245). Interest is payable on the balance and the balance is repayable on demand. Included within other debtors, amounts falling due within one year is an amount due from R Bell of £19,382 (2024 - £3,614). Interest is payable on the balance and the balance is repayable on demand. Included within other debtors, amounts falling due within one year is an amount due from A Smith of £1,400 (2024 - £1,400). Interest is payable on the balance and the balance is repayable on demand.
29. | Related party transactions
| The company has taken advantage of the exemption contained in Section 33 of FRS102 "Related Party Disclosures" from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group and the company is included within the group accounts which are publicly available.
30. | Post balance sheet events
Post year end a group restructure was carried out and OFT2025 Limited (16336646) became the parent of the group. This restructure took place on 25 March 2026 via a share for share exchange. Following the restructure, there is still no controlling party.
31. | Controlling party
There is no controlling party.
Page 33