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REGISTERED NUMBER: 03510913 (England and Wales)

| STRATEGIC REPORT,

| REPORT OF THE DIRECTORS AND

| FINANCIAL STATEMENTS

| FOR THE YEAR ENDED 31 OCTOBER 2025

| FOR

| LASER ELECTRICAL SERVICES LIMITED

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Income Statement | 8 |

| Other Comprehensive Income | 9 |

| Balance Sheet | 10 |

| Statement of Changes in Equity | 11 |

| Cash Flow Statement | 12 |

| Notes to the Cash Flow Statement | 13 |

| Notes to the Financial Statements | 14 |

| LASER ELECTRICAL SERVICES LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2025

| DIRECTORS: | M Butcher

| J J Chambers

| S Baker

| J Piddington

| J McFarlane

| J N Taylor

| S Antrobus

| J Draper

| SECRETARY: | J N Taylor

| REGISTERED OFFICE: | Chelmsford Business Park

| 11 Springfield Lyons Approach

| Chelmsford

| Essex

| CM2 5LB

| REGISTERED NUMBER: | 03510913 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Simon Medcalf FCA

| AUDITORS: | Xeinadin Audit Limited

| Beckwith Barn

| Warren Estate

| Lordship Road

| Writtle

| Essex

| CM1 3WT

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 OCTOBER 2025

The directors present their strategic report for the year ended 31 October 2025.

REVIEW OF BUSINESS

The principal activity of the business is Electrical Installation Engineers.

The directors are pleased to report that turnover for the 12-month period amounted to £22.3m. While this represents a decrease from the previous year’s turnover of £28.4m, the overall performance remains strong.

The gross profit increased to 19.4% from 18.5% despite material prices continuing to put pressure on these margins. The directors are confident with the experienced team at Laser Electrical Services that the company will continue to generate positive results and continue to remain profitable.

The balance sheet continues to present a very strong position with net assets of £5.6m. The company continues to have sufficient working capital to finance its operating activities.

PRINCIPAL RISKS AND UNCERTAINTIES

The business environment in which the company operates continues to be very challenging with competitive pricing across the industry continuing to put pressure on the company's gross profit margins.

However, having been in the industry for over 25 years the company has an excellent reputation for delivering a high quality service. The work performed by our excellent employees provides the company with a vital advantage over our competitors.

Uncertainty remains in the new build housing market as well as the construction industry in general. However our orderbook is strong and with our diverse client base and varied range of work, we remain confident of our future financial results.

FUTURE DEVELOPMENTS

Since the year end our orderbook is at it’s highest level for three years which is extremely encouraging. We have also managed to secure contracts with a number of new clients to further diversify our client base.

KEY PERFORMANCE INDICATORS

| 2025 |  |  | 2024 |

| £ |  |  | £ |

Turnover |  | 22,300,199 |  |  | 28,406,996 |

Gross profit margin % |  | 19.4% |  |  | 18.5% |

Profit before tax |  | 1,088,521 |  |  | 1,859,463 |

EBITDA |  | 1,145,438 |  |  | 1,913,869 |

Shareholders funds |  | 5,599,676 |  |  | 4,768,702 |

ON BEHALF OF THE BOARD:

S Baker - Director

16 July 2026

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 OCTOBER 2025

The directors present their report with the financial statements of the company for the year ended 31 October 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of electrical installation engineers.

DIVIDENDS

No dividends were declared on the Ordinary shares during the year. The directors do not recommend the payment of a final dividend.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

M Butcher

J J Chambers

S Baker

J Piddington

J McFarlane

J N Taylor

S Antrobus

J Draper

CHARITABLE DONATIONS

Charitable donations amounting to £43,388 (2024: £42,782) have been paid during the year to support the charity Kids Inspire, who specialise in mental health and trauma recovery support for children, young people and their families.

DISCLOSURE IN THE STRATEGIC REPORT

Items required under Sch. 7 to be disclosed in the directors’ report are set out in the strategic report in accordance with s.414C(11) CA 2006.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies 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 company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 OCTOBER 2025

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

S Baker - Director

16 July 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LASER ELECTRICAL SERVICES LIMITED

Opinion

We have audited the financial statements of Laser Electrical Services Limited (the 'company') for the year ended 31 October 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 company's affairs as at 31 October 2025 and of its 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LASER ELECTRICAL SERVICES LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the 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 Statement of Directors' Responsibilities set out on page three, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

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 a Report of the Auditors 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit, in respect to irregularities, including fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; to respond appropriately to fraud or suspected fraud identified during the audit, to obtain audit evidence regarding compliance with provisions of applicable laws and regulations, and to respond appropriately to any non-compliance identified. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

In identifying and assessing risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations our approach was to consider the following:

- the nature of the industry or sector, control environment and business performance;

- the results of enquiries of management about their own identification and assessment of the risks of irregularities;

- matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LASER ELECTRICAL SERVICES LIMITED

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, tax legislation and health and safety.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

We assessed the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: recognition of income, and the assessment of expected outcomes of contracts.. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation;

- enquiring of management concerning actual and potential litigation and claims;

- reviewing material legal costs in the period;

- performing analytical procedures to identify unusual or unexpected relationships;

- reviewing correspondence with HMRC;

- testing the appropriateness of judgements made in making accounting estimates, journal entries and other adjustments made by management for indications of potential bias; and

- evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

- completed focused testing on a sample of amounts recoverable on contracts to assess the performance in line with management's forecasts.

The likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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 Report of the Auditors.

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 a Report of the Auditors 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.

Simon Medcalf FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Beckwith Barn

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

16 July 2026

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

INCOME STATEMENT

FOR THE YEAR ENDED 31 OCTOBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 4 | 22,300,199 |  | 28,406,996 |  |

Cost of sales | 17,980,698 |  | 23,138,425 |  |

GROSS PROFIT | 4,319,501 |  | 5,268,571 |  |

Administrative expenses | 3,328,208 |  | 3,486,777 |  |

991,293 |  | 1,781,794 |  |

Other operating income | 5 | 6,463 |  | 7,278 |  |

997,756 |  | 1,789,072 |  |

Interest receivable and similar income | 93,195 |  | 70,527 |  |

1,090,951 |  | 1,859,599 |  |

Interest payable and similar expenses | 7 | 2,430 |  | 136 |  |

PROFIT BEFORE TAXATION | 8 | 1,088,521 |  | 1,859,463 |  |

Tax on profit | 10 | 264,671 |  | 364,025 |  |

PROFIT FOR THE FINANCIAL YEAR | 823,850 |  | 1,495,438 |  |

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 OCTOBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 823,850 |  | 1,495,438 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 823,850 |  | 1,495,438 |  |

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

BALANCE SHEET

31 OCTOBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 11 | 183,419 |  | 193,702 |  |

Investment property | 12 | 190,000 |  | 190,000 |  |

373,419 |  | 383,702 |  |

CURRENT ASSETS

Debtors | 13 | 5,003,599 |  | 5,072,140 |  |

Cash at bank and in hand | 4,649,030 |  | 4,366,409 |  |

9,652,629 |  | 9,438,549 |  |

CREDITORS

Amounts falling due within one year | 14 | 4,370,623 |  | 4,290,384 |  |

NET CURRENT ASSETS | 5,282,006 |  | 5,148,165 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,655,425 |  | 5,531,867 |  |

CREDITORS

Amounts falling due after more than one year | 15 | - |  | (705,613 | ) |

PROVISIONS FOR LIABILITIES | 18 | (55,749 | ) | (57,552 | ) |

NET ASSETS | 5,599,676 |  | 4,768,702 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 200 |  | 200 |  |

Retained earnings | 20 | 5,599,476 |  | 4,768,502 |  |

SHAREHOLDERS' FUNDS | 5,599,676 |  | 4,768,702 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2026 and were signed on its behalf by:

S Baker - Director

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 OCTOBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 November 2023 | 200 |  | 3,521,718 |  | 3,521,918 |  |

Changes in equity

Profit for the year | - |  | 1,495,438 |  | 1,495,438 |  |

Total comprehensive income | - |  | 1,495,438 |  | 1,495,438 |  |

Capital contributions to

Employee Ownership Trust | - |  | (252,800 | ) | (252,800 | ) |

Share based payment | - |  | 4,146 |  | 4,146 |  |

Total transactions with owners, recognised directly in equity | - |  | (248,654 | ) | (248,654 | ) |

Balance at 31 October 2024 | 200 |  | 4,768,502 |  | 4,768,702 |  |

Changes in equity

Profit for the year | - |  | 823,850 |  | 823,850 |  |

Total comprehensive income | - |  | 823,850 |  | 823,850 |  |

Share based payment | - |  | 7,124 |  | 7,124 |  |

Total transactions with owners, recognised directly in equity | - |  | 7,124 |  | 7,124 |  |

Balance at 31 October 2025 | 200 |  | 5,599,476 |  | 5,599,676 |  |

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 OCTOBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,134,410 |  | 888,214 |  |

Interest paid | (258,043 | ) | (49,638 | ) |

Tax paid | (192,737 | ) | (554,995 | ) |

Net cash from operating activities | 683,630 |  | 283,581 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (44,412 | ) | (116,014 | ) |

Sale of tangible fixed assets | 208 |  | 11,800 |  |

Interest received | 93,195 |  | 70,527 |  |

Net cash from investing activities | 48,991 |  | (33,687 | ) |

Cash flows from financing activities

Loan repayments in year | (450,000 | ) | (450,000 | ) |

Capital contributions to EOT | - |  | (252,800 | ) |

Net cash from financing activities | (450,000 | ) | (702,800 | ) |

Increase/(decrease) in cash and cash equivalents | 282,621 |  | (452,906 | ) |

Cash and cash equivalents at beginning of year | 2 | 4,366,409 |  | 4,819,315 |  |

Cash and cash equivalents at end of year | 2 | 4,649,030 |  | 4,366,409 |  |

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 1,088,521 |  | 1,859,463 |  |

| Depreciation charges | 53,319 |  | 55,770 |  |

| Loss/(profit) on disposal of fixed assets | 1,168 |  | (1,500 | ) |

| Share based payment | 7,124 |  | 4,146 |  |

| Finance costs | 2,430 |  | 136 |  |

| Finance income | (93,195 | ) | (70,527 | ) |

1,059,367 |  | 1,847,488 |  |

| Decrease in trade and other debtors | 68,542 |  | 190,347 |  |

| Increase/(decrease) in trade and other creditors | 6,501 |  | (1,149,621 | ) |

| Cash generated from operations | 1,134,410 |  | 888,214 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 October 2025

| 31/10/25 |  | 1/11/24

£ | £ |

| Cash and cash equivalents | 4,649,030 |  | 4,366,409 |  |

| Year ended 31 October 2024

| 31/10/24 |  | 1/11/23

£ | £ |

| Cash and cash equivalents | 4,366,409 |  | 4,819,315 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/11/24 | Cash flow | At 31/10/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 4,366,409 |  | 282,621 |  | 4,649,030 |  |

4,366,409 |  | 282,621 |  | 4,649,030 |  |

| Debt

| Debts falling due after 1 year | (705,613 | ) | 705,613 |  | - |  |

(705,613 | ) | 705,613 |  | - |  |

| Total | 3,660,796 |  | 988,234 |  | 4,649,030 |  |

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | STATUTORY INFORMATION

| Laser Electrical Services 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 functional and presentation currency of the financial statements is the Pound Sterling (£).

| Amounts in these financial statements are rounded to the nearest Pound Sterling (£).

| The financial statements contain information about Laser Electrical Services Limited as an individual company.

2. | STATEMENT OF COMPLIANCE

| 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" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Significant judgements and estimates

| In applying the company's accounting policies, the directors are required to make judgements. estimates and assumptions in determining the carrying value of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered applicable. Due to the inherent sensitivity involved in making judgements, estimates and assumptions, the actual results and outcomes may differ.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to accounting estimates are recognised prospectively. The principal areas where judgement was exercised are as follows:

| Amounts recoverable on contracts

| The directors have made key assumptions regarding the stage of completion, future costs to complete and collectability of billings of some contracts with customers.

| Revenue on services provided under contracts is recognised based on the stage of completion as certified by a qualified surveyor when agreed by both contractual parties.

| The company regularly review the ongoing performance of each contract and recognise income by reference to the stage completion of each contract.

| The cost management system in place captures all contract costs including those that are committed. Certified applications plus any additional uncertified work performed up to the balance sheet date are reviewed against the corresponding costs that have been incurred. The estimated stage of completion of each contract and the forecasted profit margins are then reviewed against the actuals by the directors and management team.

| Based on this review adjustments are then reflected to recognise income in line with the expected contract performance.

| Included in debtors, shown as amounts recoverable on contracts, is £1,225,864 (2024: £1,026,411) in respect of amounts not yet invoiced by the company.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

3. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover represents the fair value of services provided under contracts with customers to the extent that there is right to consideration, and includes monies held on retention. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

| The value of incomplete services is included as amounts recoverable on contracts in the balance sheet.

| Tangible fixed assets

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

| Improvements to property | - | 10% on reducing balance

| Plant and machinery | - | 15% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on reducing balance

| Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation of a tangible fixed assets begins when it is in the location and condition necessary available for the use intended.

| Tangible fixed asset depreciation is included in administrative expenses in the Income Statement.

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted 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 the Income Statement.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

| Financial instruments

| The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

| Debt instruments such as loans, accounts receivable and payable are initially measured at present value and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to paid or received.

| 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.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

3. | ACCOUNTING POLICIES - continued

| 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 charged to the Income Statement in the year in which it is incurred.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period in which they relate.

| Impairment of non-financial assets

| At each reporting date non-financial assets not carried at fair value, like plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the Income Statement.

| Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the Income Statement.

| If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in the Income Statement.

| Borrowing costs

| All borrowing costs are recognised in the Income statement in the period in which they are incurred.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

4. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Contracts with customers | 22,300,199 |  | 28,406,996 |  |

22,300,199 |  | 28,406,996 |  |

5. | OTHER OPERATING INCOME

| 2025 |  | 2024

£ | £ |

| Rents received | 6,463 |  | 7,278 |  |

6. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 4,077,615 |  | 4,403,002 |  |

| Social security costs | 217,739 |  | 217,378 |  |

| Other pension costs | 58,004 |  | 67,921 |  |

4,353,358 |  | 4,688,301 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Weekly | 35 |  | 37 |  |

| Monthly | 40 |  | 40 |  |

75 |  | 77 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 810,315 |  | 988,597 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 8 |  | 8 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 140,614 |  | 177,915 |  |

| Company contributionsmade in the year toward a money purchase scheme retirement benefit for the highest paid director were £19,593 (2024: £22,596).

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Other interest | 2,430 |  | 136 |  |

8. | PROFIT BEFORE TAXATION

| The profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 261,034 |  | 232,284 |  |

| Depreciation - owned assets | 53,319 |  | 55,770 |  |

| Loss/(profit) on disposal of fixed assets | 1,168 |  | (1,500 | ) |

9. | AUDITORS' REMUNERATION

| 2025 |  | 2024

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 12,350 |  | 11,750 |  |

| Other non- audit services | 2,455 |  | 2,350 |  |

10. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 285,216 |  | 387,590 |  |

| Prior year tax | (18,742 | ) | (37,458 | ) |

| Total current tax | 266,474 |  | 350,132 |  |

| Deferred tax:

| Origination and reversal of timing differences | (1,803 | ) | 13,893 |  |

| Tax on profit | 264,671 |  | 364,025 |  |

| UK corporation tax has been charged at 25% (2024 - 25%).

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

10. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 1,088,521 |  | 1,859,463 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 272,130 |  | 464,866 |  |

| Effects of:

| Expenses not deductible for tax purposes | 9,908 |  | 11,373 |  |

| Capital allowances in excess of depreciation | - |  | (13,039 | ) |

| Depreciation in excess of capital allowances | 2,570 |  | - |  |

| Adjustments to tax charge in respect of previous periods | (18,742 | ) | - |  |

| accrued |

| Loan relationships Interest paid | 608 |  | (12,410 | ) |

| EOT qualifying expenses | - |  | (100,658 | ) |

| Deferred tax charge in the year | (1,803 | ) | 13,893 |  |

| lower rate |

| Total tax charge | 264,671 |  | 364,025 |  |

11. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| to |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 November 2024 | 112,674 |  | 4,630 |  | 59,756 |  |

| Additions | - |  | - |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 31 October 2025 | 112,674 |  | 4,630 |  | 59,756 |  |

| DEPRECIATION

| At 1 November 2024 | 81,919 |  | 3,150 |  | 48,725 |  |

| Charge for year | 3,076 |  | 221 |  | 1,655 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 October 2025 | 84,995 |  | 3,371 |  | 50,380 |  |

| NET BOOK VALUE

| At 31 October 2025 | 27,679 |  | 1,259 |  | 9,376 |  |

| At 31 October 2024 | 30,755 |  | 1,480 |  | 11,031 |  |

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

11. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 November 2024 | 248,259 |  | 76,067 |  | 501,386 |  |

| Additions | 44,412 |  | - |  | 44,412 |  |

| Disposals | (5,800 | ) | - |  | (5,800 | ) |

| At 31 October 2025 | 286,871 |  | 76,067 |  | 539,998 |  |

| DEPRECIATION

| At 1 November 2024 | 97,823 |  | 76,067 |  | 307,684 |  |

| Charge for year | 48,367 |  | - |  | 53,319 |  |

| Eliminated on disposal | (4,424 | ) | - |  | (4,424 | ) |

| At 31 October 2025 | 141,766 |  | 76,067 |  | 356,579 |  |

| NET BOOK VALUE

| At 31 October 2025 | 145,105 |  | - |  | 183,419 |  |

| At 31 October 2024 | 150,436 |  | - |  | 193,702 |  |

12. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2024

| and 31 October 2025 | 190,000 |  |

| NET BOOK VALUE

| At 31 October 2025 | 190,000 |  |

| At 31 October 2024 | 190,000 |  |

| The fair value of the property at 31 October 2025 has been arrived at on the basis of a valuation carried out by the directors of the company who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties situated within the same location, which the directors considers to give a fair value of the investment property held.

| The historical cost of the investment property was £122,740 (2024: £122,740). No depreciation was charged.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

13. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 1,156,095 |  | 1,331,223 |  |

| Amounts recoverable on

| contracts | 2,412,286 |  | 2,270,232 |  |

| Other debtors | 9,844 |  | 10,277 |  |

| VAT | 153,327 |  | 181,684 |  |

| Accrued income | 200,000 |  | 200,000 |  |

| Prepayments | 78,909 |  | 58,231 |  |

4,010,461 |  | 4,051,647 |  |

| Amounts falling due after more than one year:

| Amounts recoverable on

| contracts | 993,138 |  | 1,020,493 |  |

993,138 |  | 1,020,493 |  |

| Aggregate amounts | 5,003,599 |  | 5,072,140 |  |

14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 3,158,680 |  | 3,139,901 |  |

| Corporation tax | 301,154 |  | 227,416 |  |

| CIS tax control | 66,683 |  | 65,267 |  |

| Social security and other taxes | 158,588 |  | 121,773 |  |

| Pension | 15,771 |  | 16,144 |  |

| Other creditors | 626,396 |  | 668,018 |  |

| Accrued expenses | 43,351 |  | 51,865 |  |

4,370,623 |  | 4,290,384 |  |

15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other loans (see note 16) | - |  | 705,613 |  |

16. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due between two and five years:

| Other loans - 2-5 years | - |  | 705,613 |  |

| The other loans above bear interest at 6% above the Bank of England base rate per annum. These other loans being repayable in full including accrued interest by the tenth anniversary of the completion date.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

17. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 315,364 |  | 326,355 |  |

| Between one and five years | 753,142 |  | 913,149 |  |

| In more than five years | - |  | 100,100 |  |

1,068,506 |  | 1,339,604 |  |

| Lease payments made in the year were £317,243 (2024: £342,043).

18. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Other timing differences | 16,815 |  | 16,815 |  |

| Accelerated capital allowances | 38,934 |  | 40,737 |  |

55,749 |  | 57,552 |  |

| Deferred |

| tax |

£ |

| Balance at 1 November 2024 | 57,552 |  |

| Provided during year | (1,803 | ) |

| Balance at 31 October 2025 | 55,749 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 200 | Ordinary | £1 | 200 |  | 200 |  |

| Each share is entitled to one vote in any circumstance.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

20. | RESERVES

| Retained

| earnings

£ |

| At 1 November 2024 | 4,768,502 |  |

| Profit for the year | 823,850 |  |

| Share based payment | 7,124 |  |

| At 31 October 2025 | 5,599,476 |  |

| As fair value accounting requirements apply, the change in fair value has been recognised in profit or loss, it is not recognised in a revaluation reserve. Within retained earnings there is £49,822 (2024: £49,822) of non distributable unrealised fair value gains.

| Called up share capital - Represents the nominal value of shares that have been issued.

| Retained earnings - includes all current retained profits and losses.

21. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separate from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions payable to the fund at the year end by the company and included in other creditors are £15,771 (2024: £16,144).

|  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |

| Contributions payable by the Company for the year |  | 285,919 |  |  | 412,618 |  |

22. | CONTINGENT LIABILITIES AND GUARANTEES

| Any bank borrowings of the company are secured by way of a debenture dated 5 June 2019.

| The company has also provided a guarantee in respect of the bank borrowings of a related company. At the balance sheet date the related company had bank borrowings of £431,926 (2024: £515,164).

23. | RELATED PARTY DISCLOSURES

| Other related parties

2025 | 2024 |

£ | £ |

| Rental paid | 171,600 |  | 171,600 |  |

| Interest payable | - |  | 136 |  |

| Amount due to related party included in other loans | - |  | 705,613 |  |

| The amounts above concerns transactions with Laser Electrical (Properties) Limited, a related company due to common directors that can apply significant influence.

| In the previous year, Included within other loans falling due in more than one year was an amount owing to Laser Electrical (Properties) Limited of £705,613. The total liability has now been repaid.

LASER ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 03510913) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

24. | ULTIMATE CONTROLLING PARTY

| The Ordinary shares of the company are registered in the name of Laser Electrical Services EOT Limited on behalf of The Laser Electrical Services Employee Ownership Trust which is the ultimate controlling party.

25. | SHARE-BASED PAYMENT TRANSACTIONS

| Laser Electrical Services Limited operates an Enterprise Management Incentive Scheme for certain employees of the company. The only vesting condition being that the employee remains an employee of the company over the option period.

| The options can only be exercised once the company debt has been cleared which is estimated to be over a period of 10 years or a change in the ownership of the company. The options will lapse after a period of 10 years.

| Outstanding schemes

| Grant date |  | Number of options |  | Actual market value at grant (£ per share) |  | Intrinsic value at grant (£ per share) |  | Exercise price(£ per share) |  |

| 2019 |  | 49 |  | 661 |  | 737 |  | Nil |  |

| 2021 |  | 6 |  | 661 |  | 1,551 |  | Nil |  |

| 2025 |  | 141 |  | 6,500 |  | 1,075 |  | 6,500 |  |

| Intrinsic value represents the difference between the unrestricted market value at grant and the exercise price.

| A reconciliation of option movements over the period to 31 October 2025 is shown below:

|  | 2025 | 2024 |

|  | Weighted average |  | Weighted average

|  | Number | exercise price | Number | exercise price

| Balance at 1 November |  | 55 | - | 57 |  | - |

| Granted |  | 141 | 6,500 | 6 |  | - |

| Lapsed |  | - | - | (8) |  | - |

| Balance at 31 October |  | 196 | 4,676 | 55 |  | - |

| The expense recognised in the Income Statement for the year was £7,124 (2024: £4,146).

| The fair value of options remaining at the balance sheet date was £167,441 (2024: £20,729).

| The company did not enter into any share-based payment transactions with parties other than employees during the current or previous period.