REGISTERED NUMBER: 15477066 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

Full Power Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M O Lipman

Mrs D Lipman

Mr P Smith

REGISTERED OFFICE:

Lumiere

Elstree Way

Borehamwood

Hertfordshire

WD6 1JH

REGISTERED NUMBER:

15477066 (England and Wales)

ACCOUNTANTS:

IN Accountancy Limited

2 Station View

Bramhall Moor Lane

Hazel Grove

Stockport

Cheshire

SK7 5ER

FIXED ASSETS

Intangible assets

4

22,764,551

-

Tangible assets

5

59,541

-

Investments

6

762,527

29,973,101

23,586,619

29,973,101

CURRENT ASSETS

Debtors

7

771,100

507

Cash at bank

34,465

707,592

805,565

708,099

CREDITORS

Amounts falling due within one year

8

6,840,044

5,822,346

NET CURRENT LIABILITIES

(6,034,479

)

(5,114,247

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,552,140

24,858,854

CREDITORS

Amounts falling due after more than one year

9

3,654,082

4,581,021

NET ASSETS

13,898,058

20,277,833

RESERVES

Other reserves

598,756

876,543

Merger reserve

-

19,494,694

Retained earnings

13,299,302

(93,404

)

SHAREHOLDERS' FUNDS

13,898,058

20,277,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2026 and were signed on its behalf by:

Mr P Smith - Director

1.	STATUTORY INFORMATION

Full Power Holdings Ltd 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.

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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Preparation of consolidated financial statements

The financial statements contain information about Full Power Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Goodwill

Goodwill was created on the acquisition of the company's subsidiary in 2024 and is being amortised over it's useful life of 10 years.

Intangible assets

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 nil years.

Tangible fixed assets

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

Investments in subsidiaries

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in

profit or loss.

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.

Going concern

The directors have assessed the company's ability to operate as a going concern for a period in excess of 12 months from the date of signing the financial statements.

Based on this assessment, the directors believe that it remains appropriate to continue to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

Additions

28,334,031

97,326

28,431,357

At 31 October 2025

28,334,031

97,326

28,431,357

AMORTISATION

Charge for year

5,666,806

-

5,666,806

At 31 October 2025

5,666,806

-

5,666,806

NET BOOK VALUE

At 31 October 2025

22,667,225

97,326

22,764,551

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

59,541

At 31 October 2025

59,541

NET BOOK VALUE

At 31 October 2025

59,541

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2024

29,973,101

Impairments

(598,756

)

Reclassification/transfer

(28,611,818

)

At 31 October 2025

762,527

NET BOOK VALUE

At 31 October 2025

762,527

At 31 October 2024

29,973,101

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

496,467

-

Other debtors

274,633

507

771,100

507

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans and overdrafts

1,025,510

820,408

Trade creditors

22,790

25,000

Amounts owed to group undertakings

5,613,342

4,842,815

Other creditors

178,402

134,123

6,840,044

5,822,346

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans

3,654,082

4,581,021

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

£

Bank loan

4,679,592

5,401,429

11.	SHARE BASED PAYMENT

During the year ended October 2020, the subsidiary Company granted options over Class E Ordinary shares under an Employee Management Incentive Scheme. The options are all exit options and expire after 10 years if not exercised. Vesting of the options is subject to continued employment at the Company. All options are equity settled.

During the year ended October 2019 the subsidiary Company granted options over Class D Ordinary shares under an Employee Management Incentive Scheme. The options are all exit options and expire after 10 years if not exercised. Vesting of the options is subject to continued employment at the Company. All options are equity settled.

The fair value of the share options granted are determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value employee share options with no market based performance conditions.

On 28 June 2024, as part of the acquisition of the subsidiary Company by Full Power Holdings Ltd, the share options were rolled over, therefore transferring the equity to Full Power Holdings Ltd. The charge in the profit and loss in respect of these Equity-settled share-based payments remains in the subsidiary Company. Share capital will be issued in Full Power Holdings Ltd upon share options being exercised.

The original estimated vesting date of the options was June 2025. There was no exit so the vesting date has been extended to July 2029.

On the 31 October 2025 the trade and assets of the subsidiary were hived up to the company.

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption in FRS 102 Section 1A from disclosing related party transactions with other companies that are wholly owned within the group.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr M O Lipman.