REGISTERED NUMBER: 02962141 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026

FOR

APPLIED RADIATORS LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

9

FIXED ASSETS

Tangible assets

4

58,373

70,865

CURRENT ASSETS

Stocks

70,114

71,953

Debtors

5

1,437,372

489,163

Investments

6

4,906

4,062

Cash at bank and in hand

244,227

867,633

1,756,619

1,432,811

CREDITORS

Amounts falling due within one year

7

(1,046,320

)

(731,315

)

NET CURRENT ASSETS

710,299

701,496

TOTAL ASSETS LESS CURRENT LIABILITIES

768,672

772,361

CREDITORS

Amounts falling due after more than one year

8

(20,956

)

(40,287

)

PROVISIONS FOR LIABILITIES

(14,592

)

(17,715

)

NET ASSETS

733,124

714,359

CAPITAL AND RESERVES

Called up share capital

75

75

Capital redemption reserve

25

25

Retained earnings

733,024

714,259

733,124

714,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 22 July 2026 and were signed by:

Mr M Brough - Director

1.	STATUTORY INFORMATION

APPLIED RADIATORS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02962141

Registered office:

Unit 2 Hanley Business Park

Cooper Street

Hanley

Stoke-On-Trent

Staffordshire

ST1 4DW

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.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

REVENUE RECOGNITION

Revenue is recognised at the fair value of the consideration received or receivable and in which the services are rendered, stated net of discounts and of Value Added Tax. Revenue is recognised in the accounting period in which the services are rendered.

TANGIBLE FIXED ASSETS

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property - Items are written down over the life of their lease

Pant & Machinery - 20% reducing balance

Fixtures, fittings and equipment - 25% straight line

Motor Vehicles - 25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

TAXATION

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference

FOREIGN CURRENCIES

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2025 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2025

23,201

120,643

24,935

59,161

227,940

Additions

-

-

5,046

1,000

6,046

At 31 January 2026

23,201

120,643

29,981

60,161

233,986

DEPRECIATION

At 1 February 2025

23,201

86,642

21,348

25,884

157,075

Charge for year

-

6,800

3,169

8,569

18,538

At 31 January 2026

23,201

93,442

24,517

34,453

175,613

NET BOOK VALUE

At 31 January 2026

-

27,201

5,464

25,708

58,373

At 31 January 2025

-

34,001

3,587

33,277

70,865

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade debtors

402,286

306,173

Amounts owed by group undertakings

1,022,885

-

Other debtors

12,201

182,990

1,437,372

489,163

6.	CURRENT ASSET INVESTMENTS

31.1.26

31.1.25

£

£

Listed investments

4,406

3,562

Shares in participating intere

500

500

4,906

4,062

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans and overdrafts

4,410

10,404

Hire purchase contracts

14,920

14,921

Trade creditors

124,214

121,142

Amounts owed to group undertakings

324,789

339,789

Taxation and social security

199,884

232,116

Other creditors

378,103

12,943

1,046,320

731,315

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans

-

4,410

Hire purchase contracts

20,956

35,877

20,956

40,287

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2026 and 31 January 2025:

31.1.26

31.1.25

£

£

Mr G P Stevenson

Balance outstanding at start of year

30,683

6,463

Amounts advanced

149,372

89,020

Amounts repaid

(198,812

)

(64,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(18,757

)

30,683

Mr M Brough

Balance outstanding at start of year

42,712

22,039

Amounts advanced

150,244

91,473

Amounts repaid

(193,500

)

(70,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(544

)

42,712

Mr D R Moores

Balance outstanding at start of year

-

27,775

Amounts advanced

-

7,002

Amounts repaid

-

(34,777

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

10.	RELATED PARTY DISCLOSURES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies as the group financial statements in which this subsidiary is included are publicly available.

11.	POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the Board.

12.	ULTIMATE CONTROLLING PARTY

The directors consider Applied Radiators Group Limited, a company registered in England and Wales, to be the ultimate parent undertaking by virtue of it's 100% indirect shareholding in the company.