REGISTERED NUMBER: 13587946 (England and Wales)

Financial Statements

for the Year Ended 31 October 2025

for

BULB BIDCO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

P R Daly

S Dines

Registered office:

Unit 3 The Western Centre

Western Road

Bracknell

Berkshire

RG12 1RW

Registered number:

13587946 (England and Wales)

Auditors:

Cooper Parry Group Limited

Statutory Auditor

Davidson House, 1st Floor

The Forbury

Reading

RG1 3EU

Fixed assets

Investments

4

39,350,001

39,350,001

Creditors

Amounts falling due within one year

5

21,244,721

11,439,380

Net current liabilities

(21,244,721

)

(11,439,380

)

Total assets less current liabilities

18,105,280

27,910,621

Creditors

Amounts falling due after more than one year

6

21,300,000

30,462,409

Net liabilities

(3,194,720

)

(2,551,788

)

Capital and reserves

Called up share capital

7

1

1

Retained earnings

(3,194,721

)

(2,551,789

)

Shareholders' funds

(3,194,720

)

(2,551,788

)

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 24 July 2026 and were signed on its behalf by:

S Dines - Director

1.	Statutory information

Bulb Bidco 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.

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.

Going concern

The company has net liabilities of £3,194,720 at the balance sheet date. However, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In addition, Smart Electronic Technologies Ltd has provided confirmation that it will provide financial support to the company as necessary. Accordingly, the directors have adopted the going concern basis of accounting in preparing the annual financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3.	Employees and directors

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

4.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 November 2024

and 31 October 2025

39,350,001

Net book value

At 31 October 2025

39,350,001

At 31 October 2024

39,350,001

The company's investments at the Balance Sheet date in the share capital of companies include the following:

ESL Holdings Limited

Registered office: Unit 3, The Western Centre, Western Road, Bracknell, England, RG12 1RW

Nature of business: Holding/borrowing company

%

Class of shares:

holding

Ordinary shares

100.00

5.

Creditors: amounts falling due within one year

2025

2024

£

£

Other loans

6,229,915

775,192

Amounts owed to group undertakings

15,014,806

10,664,188

21,244,721

11,439,380

6.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Other loans - 2-5 years

-

9,162,409

Amounts owed to group undertakings

21,300,000

21,300,000

21,300,000

30,462,409

Other loans are secured by a fixed and floating charge over the assets of the company and bear interest at 7.5%.

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary shares

£1

1

1

8.	Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

George Style (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

9.	Ultimate controlling party

The ultimate controlling party is Bestport Ventures LLP.