1st Choice Insulations Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

1st Choice Insulations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05414918 . The registered office is Unit 5-6 Quarry Park Frans Green Industrial Estate, East Tuddenham, Dereham, Norfolk, NR20 3JG.

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. Going Concern Disclosure

The financial statements have been prepared using the going concern basis of accounting.

The directors believe that the business has positioned itself well to continue to trade through any market uncertainty. The forward order book remains at a manageable level and the business will look to maintain this for the foreseeable future. The directors have considered the current working capital requirements of the business and believe that it is well placed to manage the risks at these challenging times to ensure that the Company is in a strong financial position.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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 Property	15% Straight line
Plant & Machinery	15% Straight line
Motor Vehicles	25% Straight line
Computer Equipment	33% Straight line

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1st Choice Insulations Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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.

2.7. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 21 (2024: 22)

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1st Choice Insulations Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tangible Assets

	Land & Property
	Leasehold Property	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2025	44,757	195,587	871,768	112,251	1,224,363
Additions	-	29,119	170	5,130	34,419
Disposals	-	(70,662 )	(383,533 )	(68,440 )	(522,635 )

As at 31 December 2025	44,757	154,044	488,405	48,941	736,147

Depreciation
As at 1 January 2025	7,833	140,611	538,294	84,553	771,291
Provided during the period	6,713	15,817	132,976	12,409	167,915
Disposals	-	(68,099 )	(339,618 )	(60,867 )	(468,584 )

As at 31 December 2025	14,546	88,329	331,652	36,095	470,622

Net Book Value
As at 31 December 2025	30,211	65,715	156,753	12,846	265,525

As at 1 January 2025	36,924	54,976	333,474	27,698	453,072

5. Stocks

	31 December 2025	31 December 2024
	£	£
Materials	52,336	54,714

6. Debtors

	31 December 2025	31 December 2024
	£	£
Due within one year
Trade debtors	331,678	943,929
Amounts owed by group undertakings	4,772,569	1,680,764
Amounts owed by participating interests	-	89,868
Other debtors	556,511	2,268,878

	5,660,758	4,983,439

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1st Choice Insulations Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 December 2024
	£	£
Net obligations under finance lease and hire purchase contracts	63,193	93,499
Trade creditors	42,285	135,701
Amounts owed to group undertakings	1,000,151	1,003,283
Other creditors	32,565	117,092
Taxation and social security	137,745	404,391

	1,275,939	1,753,966

8. Creditors: Amounts Falling Due After More Than One Year

	31 December 2025	31 December 2024
	£	£
Net obligations under finance lease and hire purchase contracts	137,007	209,150

The above hire purchase amounts are secured against the assets they relate to.

9. Share Capital

	31 December 2025	31 December 2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

10. Directors Advances, Credits and Guarantees

Included within Debtors is a loan of £NIL to the director (2024: £1,810,346)

In the period from 1st April 2024 to 31st December 2024 the loan was unsecured, interest free and repayable on demand.

11. Related Party Transactions

The company was owed £NIL (2024: £89,868) by a company deemed to be related by virtue of common control.

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1st Choice Insulations Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

12. Ultimate Controlling Party

The immediate parent company is Print Ventures Limited, a company registered in England and Wales with registered office Unit 5-6 Quarry Park, Frans Green Industrial Estate, East Tuddenham, Dereham, Norfolk, NR20 3JG.

The ultimate parent company is CorpAcq Group Limited, a company registered in England, registered address CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW, United Kingdom.

The smallest group in which the results of the company are consolidated is that headed by CorpAcq Limited. The consolidated financial statements of the group for the year ended 31 December 2025 are available to the public and may be obtained from Companies House.

The largest group in which the results of the company are consolidated is that headed by CorpAcq Group Limited. The consolidated financial statements of the group for the period ended 31 December 2025 are available to the public and may be obtained from Companies House.

The directors consider that, by virtue of its shareholding in the ultimate parent company, the ultimate controlling party is TDR Capital Nominees 2021 Limited on behalf of TDR Capital V LP, managed by TDR Capital LLP.

13. Year-End Change

The prior period is a shorter period than the current period due to a change of year-end in the prior period to align with other group companies. Prior year comparatives are for a 9 month period however the current period is for 12 months, therefore, the figures are not directly comparable.

14. Audit Information

The auditor's report on the accounts of 1st Choice Insulations Ltd for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Richard Taylor (Senior Statutory Auditor) for and on behalf of DJH Audit Limited , Statutory Auditor.

DJH Audit Limited

The Exchange

5 Bank Street

Bury

Greater Manchester

BL9 0DN

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		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		265,525		453,072

			265,525		453,072
CURRENT ASSETS
Stocks	5	52,336		54,714
Debtors	6	5,660,758		4,983,439
Cash at bank and in hand		589,966		1,078,350

		6,303,060		6,116,503
Creditors: Amounts Falling Due Within One Year	7	(1,275,939 )		(1,753,966 )

NET CURRENT ASSETS (LIABILITIES)			5,027,121		4,362,537

TOTAL ASSETS LESS CURRENT LIABILITIES			5,292,646		4,815,609

Creditors: Amounts Falling Due After More Than One Year	8		(137,007 )		(209,150 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(32,147 )		(75,651 )

NET ASSETS			5,123,492		4,530,808

CAPITAL AND RESERVES
Called up share capital	9		1,000		1,000
Profit and Loss Account			5,122,492		4,529,808

SHAREHOLDERS' FUNDS			5,123,492		4,530,808