REGISTERED NUMBER: 07880933 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

CORSAIR WHOLESALE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Imlah

M A J Street

P Gadhvi

K Gadhvi

SECRETARY:

M A J Street

REGISTERED OFFICE:

Unitech House

Prospect Road

Burntwood

Staffordshire

WS7 0AL

REGISTERED NUMBER:

07880933 (England and Wales)

AUDITORS:

TC Group, Statutory Auditor

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

FIXED ASSETS

Tangible assets

4

4,288

3,835

CURRENT ASSETS

Stocks

5

170,914

232,283

Debtors

6

182,351

105,105

Cash at bank

6,604

-

359,869

337,388

CREDITORS

Amounts falling due within one year

7

425,176

476,001

NET CURRENT LIABILITIES

(65,307

)

(138,613

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(61,019

)

(134,778

)

PROVISIONS FOR LIABILITIES

9

983

858

NET LIABILITIES

(62,002

)

(135,636

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

(62,102

)

(135,736

)

SHAREHOLDERS' FUNDS

(62,002

)

(135,636

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2026 and were signed on its behalf by:

A M Imlah - Director

M A J Street - Director

1.	STATUTORY INFORMATION

Corsair Wholesale 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 (£).

The company's place of business is Beaumont Close, Banbury OX16 1SH

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.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Computer equipment

-

50% on reducing balance

Tangible fixed assets are initially recorded at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Stock is valued using the first in, first out method.

Stock provisioning

The group supplies, installs and maintains equipment which is subject to changing customer demands and technological change. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. Management consider the nature and condition of stock, as well as apply assumptions around expected future demand for the stock, when calculating the level stock provisioning.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other payables, and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial positionbalance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2025

5,880

2,606

8,486

Additions

-

2,481

2,481

At 31 December 2025

5,880

5,087

10,967

DEPRECIATION

At 1 January 2025

2,117

2,534

4,651

Charge for year

752

1,276

2,028

At 31 December 2025

2,869

3,810

6,679

NET BOOK VALUE

At 31 December 2025

3,011

1,277

4,288

At 31 December 2024

3,763

72

3,835

5.

STOCKS

2025

2024

£

£

Raw materials

133,429

224,847

Work-in-progress

37,485

7,436

170,914

232,283

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

171,937

59,156

Amounts owed by group undertakings

4,764

-

Other debtors

-

40,764

Prepayments

5,650

5,185

182,351

105,105

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

97,303

Trade creditors

150,038

126,986

Amounts owed to group undertakings

-

55,527

Social security and other taxes

9,869

7,841

VAT

50,307

36,322

Other creditors

187,162

113,722

Directors' current accounts

27,800

38,300

425,176

476,001

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

-

97,303

The bank borrowings are secured by a fixed and floating charge over all the company's assets in favour of National Westminster Bank Plc.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

983

858

Deferred

tax

£

Balance at 1 January 2025

858

Provided during year

125

Balance at 31 December 2025

983

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

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

The Report of the Auditors was unqualified.

Antonia Aldridge-Brown FCCA (Senior Statutory Auditor)

for and on behalf of TC Group, Statutory Auditor

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2025

2024

£

£

P Gadhvi

Balance outstanding at start of year

(38,300

)

-

Amounts advanced

10,500

(38,300

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(27,800

)

(38,300

)

13.	RELATED PARTY DISCLOSURES

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.

During the year the company made sales to group entities not wholly owned by the Unitech Group

of £4,278 (2024: £2,904), purchases of £143,568 (2024: £162,040) and at the year end £4,764 was owed to these companies.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Unitech Industries Limited.

The ultimate controlling party is A M Imlah.

Unitech Industries Limited prepares group financial statements and copies can be obtained from Unitech House, Prospect Road, Burntwood, Staffordshire, WS7 0AU.