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Registered number: 02928899
U K Exchangers Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2026
U K Exchangers Ltd
Contents
Contents

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

Page 1
U K Exchangers Ltd
Balance Sheet
As At 31 May 2026
Balance Sheet
Registered number: 02928899

| 2026 | 2025
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 40,355 |  | 52,675
Tangible Assets | 5 |  | 179,487 |  | 240,617
|  |  | 219,842 |  | 293,292
CURRENT ASSETS
Stocks | 6 | 1,990,400 |  | 1,507,722 |
Debtors | 7 | 2,325,643 |  | 1,358,346 |
Cash at bank and in hand |  | 1,549,773 |  | 2,051,021 |
|  | 5,865,816 |  | 4,917,089 |
Creditors: Amounts Falling Due Within One Year | 8 | (3,772,251 ) |  | (3,606,175 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 2,093,565 |  | 1,310,914
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 2,313,407 |  | 1,604,206
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (44,870 ) |  | (60,150 )
NET ASSETS |  |  | 2,268,537 |  | 1,544,056
CAPITAL AND RESERVES
Called up share capital |  |  | 2 |  | 2
Share premium account |  |  | 1,999 |  | 1,999
Capital redemption reserve |  |  | 1 |  | 1
Profit and Loss Account |  |  | 2,266,535 |  | 1,542,054
SHAREHOLDERS' FUNDS |  |  | 2,268,537 |  | 1,544,056

Page 1
Page 2
U K Exchangers Ltd
Balance Sheet (continued)
As At 31 May 2026
For the year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Peter Collins Director
21 July 2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
U K Exchangers Ltd
Notes to the Financial Statements
For The Year Ended 31 May 2026
Notes to the Financial Statements
1. General Information
U K Exchangers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 02928899 . The registered office is Unit 55 Stilebrook Road, Olney, MK46 5EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Turnover from the sale of heat of exchangers is recognised with significant risks and rewards of the ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
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 three and five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold | 10% on cost
Plant & Machinery | 15% on cost
Motor Vehicles | 15% reducing balance
Fixtures & Fittings | 15% on cost
Computer Equipment | 33% on cost

2.5. Leasing and Hire Purchase Contracts
Rentals are paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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 conditions.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
U K Exchangers Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2026
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2025: 28)
30 28
4. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 June 2025 | 68,551
As at 31 May 2026 | 68,551
Amortisation
As at 1 June 2025 | 15,876
Provided during the period | 12,320
As at 31 May 2026 | 28,196
Net Book Value
As at 31 May 2026 | 40,355
As at 1 June 2025 | 52,675

Page 4
Page 5
U K Exchangers Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2026
5. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 June 2025 | 43,799 | 67,453 | 216,200 | 46,955
As at 31 May 2026 | 43,799 | 67,453 | 216,200 | 46,955
Depreciation
As at 1 June 2025 | 5,840 | 41,376 | 69,359 | 33,447
Provided during the period | 4,380 | 10,028 | 28,418 | 6,779
As at 31 May 2026 | 10,220 | 51,404 | 97,777 | 40,226
Net Book Value
As at 31 May 2026 | 33,579 | 16,049 | 118,423 | 6,729
As at 1 June 2025 | 37,959 | 26,077 | 146,841 | 13,508

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 June 2025 | 48,752 | 423,159
As at 31 May 2026 | 48,752 | 423,159
Depreciation
As at 1 June 2025 | 32,520 | 182,542
Provided during the period | 11,525 | 61,130
As at 31 May 2026 | 44,045 | 243,672
Net Book Value
As at 31 May 2026 | 4,707 | 179,487
As at 1 June 2025 | 16,232 | 240,617

6. Stocks

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Work-in-progress | 15,692 |  | 343,841
Raw materials | 1,974,708 |  | 1,163,881
| 1,990,400 |  | 1,507,722

Page 5
Page 6
U K Exchangers Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2026
7. Debtors

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 1,759,719 |  | 1,252,810
Prepayments and accrued income | 50,398 |  | 56,235
Other debtors | 515,526 |  | 49,301
| 2,325,643 |  | 1,358,346

8. Creditors: Amounts Falling Due Within One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Trade creditors | 1,151,759 |  | 747,875
Taxes and social security | 838,698 |  | 927,932
Other creditors | 1,523,685 |  | 1,930,368
Accruals and deferred income | 258,109 |  | -
| 3,772,251 |  | 3,606,175

9. Other Commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £854,000 (2025: £995,000) in respect of property leases for the coming nine years.
10. Directors Advances, Credits and Guarantees
During the year the company declared dividends of £2,500,000. Included in Other Creditors at 31 May 2026 is £1,474,649 (2025: £1,925,292) owed to a director. During the year amounts advanced from the director were £1,877,654. Amounts repaid by the company to the director were £2,328,297.
The above loan is unsecured and repayable on demand. Interest has been charged.
Page 6