Company Registration No. 07287728 (England and Wales)
Radwell International- UK Limited
Annual report and financial statements
for the year ended 31 December 2025
Radwell International- UK Limited
Company information
Directors
K M Reville
(Appointed 23 December 2025)
P F Battaglia
(Appointed 1 January 2025)
Company number
07287728
Registered office
Unit D
Dalewood Road
Lymedale Business Park
Newcastle Under Lyme
Staffordshire
ST5 9QZ
Auditor
Saffery LLP
Trinity
16 John Dalton Street
Manchester
M2 6HY
Radwell International- UK Limited
Contents
Page
Strategic report
1 - 4
Directors' report
5 - 6
Independent auditor's report
7 - 9
Statement of comprehensive income
10
Statement of financial position
11
Statement of changes in equity
12
Notes to the financial statements
13 - 28
Radwell International- UK Limited
Strategic report
For the year ended 31 December 2025
1

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

Principal a ctivit y

Radwell International- UK Limited (‘the Company’ or ‘RI-UK’), is an industrial electronics distributor, specialising in obsolete products and factory new products, along with complete service repair capabilities. The website www.radwell.co.uk provides customers with instant access to the world's largest source of industrial surplus, a database with over 2 million priced products and new product listings of over 20,000 manufacturers, calibration services to meet manufacturer's specifications and software solutions for major manufacturers.

The Company is a wholly owned subsidiary of Radwell International- Europe Limited (‘RI-EU’) a company registered in England and Wales. RI-EU is a wholly owned subsidiary of Radwell International, Inc. (‘RI-US’), a Company registered in the United States of America. The wider group is collectively referred to as ‘the Group’ or ‘Radwell’.

Review of the business

As part of an international group recognised as the global market leader, the UK facility plays a key role in

delivering goods to over 130 countries across Europe, the Middle East, and Africa (‘EMEA’). It also supports telesales and web sales through a multi-lingual call centre.

The Company specialises in stocking and selling new and surplus industrial automation, electronic, and electrical control equipment, with the technical expertise to repair such items. Radwell differentiates itself through competitive pricing, extensive product availability, robust web sales capabilities, and a strong commitment to customer service.

The market for obsolete automation equipment continues to expand, and Radwell maintains a leading position as the world’s largest source of industrial surplus products. Management remains confident that the Company’s core mission of continuous improvement will drive sustained growth, further strengthening the financial position of both the UK entity and its affiliated Group companies.

Performance during the year and the position at the reporting date

Revenues for the year ended 31 December 202 5 totaled £39,8 81,186, representing a 4% increase compared to £38,523,977 in 2024. Loss before taxation stood at £2,248,124, equating to 6% of revenues. In the PY, profit before tax stood at £1,221,459 equating to 3% of revenues. The Statement of Financial Position reflected a 11% reduction in net assets, from £26,361,369 to £23,434,271.

The Directors have a clear understanding of the key factors contributing to the year-on-year decline and their alignment with the strategic plan. In response, they are actively implementing targeted initiatives, focused on its core business of carrying volumes of inventory to rapidly supply components to its customer base, to exceed the financial targets set for 202 6.

The Company’s overall financial position as at 31 December 2025 remains sufficiently robust to support the continued execution of its strategic growth objectives for 2026.

Radwell International- UK Limited
Strategic report (continued)
For the year ended 31 December 2025
2
Key performance indicators

Radwell International is very goal and metric driven. The key performance indicators include, but are not limited to, sales goals, gross margin and warranties. Goals and metrics are tracked by company and business segment and are communicated to employees on a real time basis throughout the day, including performance boards located throughout all departments.

Revenues for RI-UK are reported by the geographical areas of the UK, Europe and Non-European. Net revenues as a percentage of total net revenues for year 2025 were UK 6 1%, Europe 16% and Non-European 2 3%. See note 3 for further analysis.

Below is a summary of the key performance indicators for the current and comparative year:

| 2025 | 2024
Turnover £'000 | 39,881 | 38,524
Gross margin | 34.50% | 42.69%
EBITDA £'000 | 967 | 4,077
Average employees | 214 | 218
Turnover per average employee £'000 | 186 | 177

The Radwell culture remains focused on its core mission of continuous improvement to provide the highest level of customer service and further investment in quality testing equipment, improving business processes and talent development.

Principal risks and uncertainties

Radwell’s scale, global reach, established brand, and comprehensive product and service offering - including new and surplus inventory supported by repair capabilities - enable the Company to maintain its market-leading position. While smaller competitors attempt to replicate the business model and national players compete in the repair space, Radwell effectively mitigates competitive pressures through exceptional customer service, enhanced product quality, advanced testing capabilities, faster turnaround times, and strong client relationships.

The competitive landscape is particularly nuanced in certain geographies, where Radwell serves both end users and resellers. These resellers, while technically competitors, are better characterised as complementary partners who help extend Radwell’s customer reach.

Foreign exchange risk

The results of operations and financial position are measured using the functional currency of the primary economic environment in which the entity operates. Transactions are conducted in British Pounds, Euros and US Dollars. The Company is exposed to exchange rate fluctuations and hence, currency rates changes are monitored to minimize the effect on results of operations.

Liquidity risk

The directors recognise liquidity risk as a principal risk and uncertainty that could impact the Company’s ability to meet its financial obligations as they fall due. Liquidity risk arises from potential mismatches between the timing of cash inflows and outflows, particularly during periods of market disruption or operational stress.

Radwell International- UK Limited
Strategic report (continued)
For the year ended 31 December 2025
3

Credit risks

As the Company continues to service many sales territories, the requests for credit accounts also increases. Credit reports are obtained and evaluated for new customers for the issuance of credit. The Company routinely reviews the outstanding credit and financial strength of its customers to ensure ongoing credit worthiness.

Accounts receivable represents the amount invoiced less an allowance for doubtful accounts. Management believes its allowance for doubtful accounts is adequate based on history of past write-offs, collections and management's evaluation of accounts overdue.

Future developments

The Directors are confident that the organisation is well positioned for future growth, supported by existing staffing levels and a range of strategic initiatives.

The Company will continue to invest in information technology, engineering and testing capabilities, internal automated processes and personnel to improve overall efficiency, productivity and customer service.

Sales growth for year 2026 for RI-UK are projected to be +9% based on the need to implement more market gain strategies and tools, along with a recognition of the changed market space as supply chain values and availability of components have now returned to Pre-covid levels.

Section 172(1) statement

The directors of Radwell International– UK Limited confirm that throughout the financial year ended 31 December 2025, they have acted in accordance with their duties under Section 172 of the Companies Act 2006. In doing so, they have had regard to the following six factors:

Long term consequences of decisions

The Board considers the long-term implications of strategic decisions, including investments in technology, sustainability, and workforce development. The directors have continuously reinvested in the Company and have strategically placed us in a position to achieve long term success. Monthly Board meetings are held, during which shareholders convene for a full day dedicated to business review, strategic goal setting, and decision-making.

Interests of the Company’s Employees

Radwell are equal opportunities employers. The diverse range of countries supported from the company facilities means that there are staff from all over the world working in the facilities. The number of employees at the reporting date was 214 (2024: 218).

Employee engagement remains a priority. At Radwell all employees are considered family and the decisions that are made from a high level are made to ensure that all family members are in a safe position long term. There is a great level of communication and coordination that occurs between the board members and employees at Radwell.

Radwell is committed to recruiting top talent to ensure the highest standards of customer experience. The organisation also prioritises internal promotion, supported by ongoing training and development of key employees. Regular management and employee communication meetings are held to address a wide range of operational and people-related matters.

Fostering Relationships with Suppliers, Customers, and Others

We maintain open and collaborative relationships with key stakeholders. We have high volumes of both suppliers and customers but where practicably possible we carry out regular supplier reviews and customer satisfaction tracking, to help us build trust and ensure mutual benefit. Our procurement team also prioritises ethical sourcing and fair payment terms.

Radwell International- UK Limited
Strategic report (continued)
For the year ended 31 December 2025
4

Impact of Operations on the Community and Environment
Environmental sustainability is embedded in our operations. The organisation is committed to reduce all waste and has a culture which cares for the environment. Radwell fully complies with the European WEEE directive 2012/19/EU and offers a support service to customers to dispose of their electrical equipment and the organization has very structured recycling routines and methodologies. Certifications received by RI-UK include the following:

- ISO 14001:2004 Environmental Management System Certification, received 25 September 2015, that establishes the framework to implement routines and processes that reduce the environmental impact via recycling, waste reduction, reduced energy consumption and ultimately reduced cost.

- OISO 45001:2018 Occupational Health and Safety Management System establishes the framework for identifying, controlling, and managing occupational health and safety risks and opportunities. In addition, it offers a chance to benchmark OHS practices against global best practices.

- ISO 9001:2015, Quality Management Systems, received 31 August 2018, related to the stocking, repairing, and selling of new and surplus industrial automation, MRO, pneumatic, motion, electronic, hydraulic, HVAC, and electrical and control equipment for plant floor and facility maintenance machinery.

Maintaining a Reputation for High Standards of Business Conduct

The company is committed to conducting business with integrity, transparency, and accountability. We recognise that corruption and bribery pose significant risks to our reputation, operations, and stakeholder trust.

Acting Fairly Between Members of the Company

The Board ensures that all shareholders are treated fairly and equitably. Transparent communication is

maintained through quarterly updates, and shareholder feedback is considered in strategic planning. No decisions were made that unfairly advantaged or disadvantaged any group of members.

On behalf of the board

K M Reville
Director
3 August 2026
Radwell International- UK Limited
Directors' report
For the year ended 31 December 2025
5

The directors present their annual report and financial statements for the year ended 31 December 2025.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

K M Reville
(Appointed 23 December 2025)
P F Battaglia
(Appointed 1 January 2025)
D Lenehan
(Resigned 18 December 2025)
K Monasebian
(Resigned 1 January 2025)
R Massey
(Resigned 16 April 2025)
Research and development "R&D"

Radwell focuses on being the number one provider of industrial automation equipment in its chosen areas and markets, therefore staying up to date and continuing to develop industry leading capabilities and solutions has been a pillar that we base our business on. A part of developing our industry leading capabilities is through our research and development efforts that occur across many departments at Radwell. The departments who play a role in R&D are Engineering, Product and Market Expansion "PME", and IT.

Our E ngineering & PME team’s priority is creating test assets and fixtures which are used to mimic the environment that our products are used in by the customer. The ability to fully test products in the surplus and repair categories have led the Radwell brand to b e synonymous with quality. To exemplify this, we provide an industry leading 2-year product warranty with Radwell and boast warranty rates of below 0.5% for surplus and under 5% for repair.

Radwell is always trying to look to the future through innovation and developing exciting new products and services through customer feedback. Our latest strategic offerings are A utomation L ifecycle A nalysis and spares-vault which will facilitate us being a stronger partner, with deeper ties into our customers business that will facilitate even faster response times and greater quality of support.

Auditor

The auditor, Saffery LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report

The company qualifies for an exemption from reporting its own energy and carbon information under the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. This is because it is a subsidiary undertaking included in the group report of Radwell International- Europe Limited, which has been prepared in accordance with the relevant SECR requirements for the financial year ending 31 December 2025.

Radwell International- UK Limited
Directors' report (continued)
For the year ended 31 December 2025
6
Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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;

- state whether applicable UK Accounting Standards have been followed; and

- 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.

Disclosure in the Strategic report

The C ompany has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the C ompany's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of principal activities, principal risks and uncertainties and future developments.

Statement of disclosure to auditor

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 C ompany'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 C ompany's auditors are aware of that information.

On behalf of the board
K M Reville
Director
3 August 2026
Radwell International- UK Limited
Independent auditor's report
To the member of Radwell International- UK Limited
7
Opinion

We have audited the financial statements of Radwell International- UK Limited (the "C ompany") for the year ended 31 December 2025 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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 December 2025 and of its loss 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 Auditor's 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 C ompany'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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Radwell International- UK Limited
Independent auditor's report
To the member of Radwell International- UK Limited (continued)
8
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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 C ompany'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.

Auditor's 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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the Company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the Company by discussions with directors and by updating our understanding of the sector in which the company operates.

Radwell International- UK Limited
Independent auditor's report
To the member of Radwell International- UK Limited (continued)
9

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the Company's records of breaches of laws and regulations and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the Company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

This report is made solely to the company's member 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 C ompany's member those matters we are required to state to the member in an auditor's report 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 member, for our audit work, for this report, or for the opinions we have formed.

Diane Petit-Laurent FCA (Senior Statutory Auditor)
For and on behalf of Saffery LLP
Statutory Auditors
Trinity
16 John Dalton Street
Manchester
M2 6HY
3 August 2026
Radwell International- UK Limited
Statement of comprehensive income
For the year ended 31 December 2025
10
2025
2024
Notes
£
£
Revenue
3
39,881,186
38,523,977
Cost of sales
(26,122,078)
(21,072,141)
Gross profit
13,759,108
17,451,836
Distribution costs
(2,140,086)
(2,153,487)
Administrative expenses
(14,316,141)
(14,247,393)
Other operating income
448,995
258,938
Operating (loss)/profit
4
(2,248,124)
1,309,894
Finance costs
8
-
0
(88,435)
(Loss)/profit before taxation
(2,248,124)
1,221,459
Tax on (loss)/profit
9
(678,974)
(1,028,768)
(Loss)/profit for the financial year
(2,927,098)
192,691

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

The notes on pages 13 to 28 form part of these financial statements.

Radwell International- UK Limited
Statement of financial position
As at 31 December 2025
11
2025
2024
Notes
£
£
£
£
Non-current assets
Goodwill
11
12,178,096
14,098,621
Other intangible assets
11
1,000,827
-
0
Total intangible assets
13,178,923
14,098,621
Property, plant and equipment
12
819,475
744,384
Investments
13
642,178
642,178
14,640,576
15,485,183
Current assets
Inventories
15
19,156,320
15,394,358
Trade and other receivables
16
13,449,221
10,257,632
Cash and cash equivalents
1,680,431
2,061,828
34,285,972
27,713,818
Current liabilities
17
(13,122,522)
(5,449,965)
Net current assets
21,163,450
22,263,853
Total assets less current liabilities
35,804,026
37,749,036
Non-current liabilities
18
(10,949,627)
(10,635,206)
Provisions for liabilities
Provisions
19
798,010
735,010
Deferred tax liability
20
622,118
17,451
(1,420,128)
(752,461)
Net assets
23,434,271
26,361,369
Equity
Called up share capital
22
1
1
Other reserves
23
1,000,000
1,000,000
Retained earnings
24
22,434,270
25,361,368
Total equity
23,434,271
26,361,369

The notes on pages 13 to 28 form part of these financial statements.

The financial statements were approved by the board of directors and authorised for issue on 3 August 2026 and are signed on its behalf by:
K M Reville
Director
Company Registration No. 07287728
Radwell International- UK Limited
Statement of changes in equity
For the year ended 31 December 2025
12
Share capital
Other reserves
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 January 2024
1
1,000,000
36,367,395
37,367,396
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
192,691
192,691
Dividends
10
-
-
(11,198,718)
(11,198,718)
Balance at 31 December 2024
1
1,000,000
25,361,368
26,361,369
Year ended 31 December 2025:
Loss and total comprehensive income
-
-
(2,927,098)
(2,927,098)
Balance at 31 December 2025
1
1,000,000
22,434,270
23,434,271

The notes on pages 13 to 28 form part of these financial statements.

Radwell International- UK Limited
Notes to the financial statements
For the year ended 31 December 2025
13
1
Accounting policies
Company information

Radwell International- UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit D, Dalewood Road, Lymedale Business Park, Newcastle Under Lyme, Staffordshire, ST5 9QZ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Business combinations

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Revenue

Revenue represents the amounts receivable from the repair and sale of electrical components, net of value added tax and trade discounts. Revenue is recognised when the repair service has been completed and control of the goods has transferred to the customer, which occurs upon delivery.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies (continued)
14

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Intangible fixed assets - goodwill

Goodwill arising on the acquisition of trade and assets represents the excess of the fair value of the consideration over the fair value of the identifiable assets and liabilities acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is between three years and ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
Over 2 years on a straight line basis
1.7
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold
Over the term of the lease
Plant and machinery
Over 3 and 7 years on a straight line basis
Fixtures and fittings
Over 7 years on a straight line basis
Motor vehicles
Over 3 years on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income statement.

1.8
Non-current investments

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.

A subsidiary is an entity controlled by the C ompany. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies (continued)
15
1.9
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the income statement, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the income statement, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost is calculated using the weighted average method.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the income statement. Reversals of impairment losses are also recognised in the statement of comprehensive income.

1.11
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies (continued)
16
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the income statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies (continued)
17
1.12
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value the unwinding of the discount is recognised as a finance cost in the income statement in the period it arises.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies (continued)
18
1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.18
Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the income statement.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
2
Critical accounting judgements and key sources of estimation uncertainty (continued)
19

Inventory provision

Inventory provisions include shrinkage, obsolescence and write-downs which take into account historical information related to sales trends and stock counts and represent the expected write-down between the estimated net realisable value and the original cost. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. The provision at the reporting date was £2,857,983 (2024 - £6,103,569).

During the year, the company updated the basis on which it estimates provisions against slow‑moving and obsolete inventory. Under the previous policy, the company made a full provision for all stock items received more than three years ago.

Management has now adopted a more refined approach, which applies varying provision rates based on the time elapsed since the item was last sold, rather than simply when it was originally received. This change reflects improved information about stock usage patterns and is considered to provide a more reliable estimate of the obsolescence of inventory.

This represents a change in accounting estimate under FRS 102. The change has been applied prospectively, and its impact on the financial statements for the year is as follows:

Decrease in stock provision: £3,245,586

Management considers the updated estimation methodology to provide a more accurate reflection of expected future realisable value. Future periods will reflect the revised estimation basis.

Allowance for doubtful debts

The directors assess the doubtful debt allowance at each reporting date. Key assumptions applied are the estimated debt recovery rates and the future market conditions that could affect recovery. The provision at the reporting date was £394,358 (2024 - £411,358).

Dilapidations provision

The determination of the dilapidation provision involves significant judgement in assessing the extent of future obligations under lease agreements. Management has considered the condition of the leased properties, the terms of the lease contracts, and historical experience to estimate the costs required to restore the properties to their original state upon lease termination. Given the inherent uncertainty in estimating future costs and timing, this provision is subject to change based on updated assessments or changes in contractual obligations. The provision at the reporting date was £6 40,010 (2024 - £590,010).

3
Revenue

An analysis of the company's revenue is as follows:

2025
2024
£
£
Revenue analysed by class of business
Sale of goods
35,203,653
33,692,294
Repair services
4,677,533
4,831,683
39,881,186
38,523,977
Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
3
Revenue (continued)
20
2025
2024
£
£
Revenue analysed by geographical market
UK
24,448,541
22,864,439
Rest of Europe
6,436,041
7,327,547
Rest of World
8,996,604
8,331,991
39,881,186
38,523,977
4
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging/(crediting):
£
£
Hire of plant and machinery
5,097
15,568
Exchange (gains)/losses
(52,284)
499,333
Fees payable to the company's auditor for the audit of the company's financial statements
33,000
30,000
Depreciation of owned property, plant and equipment
345,708
342,158
Profit on disposal of property, plant and equipment
(10,034)
(7,484)
Amortisation of intangible assets
2,921,351
1,925,901
Operating lease charges
369,042
383,051
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
33,000
30,000
For other services
All other non-audit services
22,005
16,505
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Administration
70
74
Sales
49
49
Warehouse
95
95
Total
214
218
Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
6
Employees (continued)
21

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
8,845,655
8,619,440
Social security costs
1,071,489
854,550
Pension costs
572,279
559,878
10,489,423
10,033,868
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
180,092
307,363
Company pension contributions to defined contribution schemes
33,210
47,097
213,302
354,460

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 3).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
136,169
186,771
Company pension contributions to defined contribution schemes
29,996
39,996
8
Finance costs
2025
2024
£
£
Other interest
-
0
88,435
Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
22
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
881,445
Adjustments in respect of prior periods
74,307
163,155
Total current tax
74,307
1,044,600
Deferred tax
Origination and reversal of timing differences
604,667
(14,263)
Adjustment in respect of prior periods
-
0
(1,569)
Total deferred tax
604,667
(15,832)
Total tax charge
678,974
1,028,768

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(2,248,124)
1,221,459
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(562,031)
305,365
Tax effect of expenses that are not deductible in determining taxable profit
106,910
11,288
Adjustments in respect of prior years
74,307
185,264
Deferred tax adjustments in respect of prior years
-
0
(1,569)
Movement in deferred tax not recognised
-
0
(4,464,753)
Fixed asset differences
802,159
4,993,173
Hybrid and other mismatches adjustment
257,629
-
0
Taxation charge for the year
678,974
1,028,768
10
Dividends
2025
2024
£
£
Final paid
-
0
11,198,718
Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
23
11
Intangible fixed assets
Goodwill
Software
Total
£
£
£
Cost
At 1 January 2025
17,859,013
-
0
17,859,013
Additions
-
0
2,001,653
2,001,653
At 31 December 2025
17,859,013
2,001,653
19,860,666
Amortisation and impairment
At 1 January 2025
3,760,392
-
0
3,760,392
Amortisation charged for the year
1,920,525
1,000,826
2,921,351
At 31 December 2025
5,680,917
1,000,826
6,681,743
Carrying amount
At 31 December 2025
12,178,096
1,000,827
13,178,923
At 31 December 2024
14,098,621
-
0
14,098,621
12
Property, plant and equipment
Land and buildings leasehold
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
222,872
1,728,354
582,571
305,081
2,838,878
Additions
-
0
240,902
127,836
52,061
420,799
Disposals
-
0
-
0
-
0
(47,093)
(47,093)
At 31 December 2025
222,872
1,969,256
710,407
310,049
3,212,584
Depreciation and impairment
At 1 January 2025
113,821
1,474,311
323,434
182,928
2,094,494
Depreciation charged in the year
22,287
156,649
64,514
102,258
345,708
Eliminated in respect of disposals
-
0
-
0
-
0
(47,093)
(47,093)
At 31 December 2025
136,108
1,630,960
387,948
238,093
2,393,109
Carrying amount
At 31 December 2025
86,764
338,296
322,459
71,956
819,475
At 31 December 2024
109,051
254,043
259,137
122,153
744,384
Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
24
13
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
14
642,178
642,178
14
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Indirect
Radwell International Mexico S DE RL DE CV
1
Ordinary
98
-

Registered office address

1
Bodegas 1 Y 2, Espuela del Ferrocarril 246, Felipe Carillo Puerto, 76138 Santiago de Querétaro, Querétaro.
15
Inventories
2025
2024
£
£
Finished goods and goods for resale
19,156,320
15,394,358

During the year, the Company recognised a write-off of £450,643 (202 4: £1,091,07 1) in the profit and loss account relating to inventory provisions. This reflects management’s reassessment of the recoverability of certain stock items, which is in line with the Company’s stock provision accounting policy.

Also d uring the year, the company updated the basis on which it estimates provisions against slow‑moving and obsolete inventory. Under the previous policy, the company made a full provision for all stock items received more than three years ago.

Management has now adopted a more refined approach, which applies varying provision rates based on the time elapsed since the item was last sold, rather than simply when it was originally received. This change reflects improved information about stock usage patterns and is considered to provide a more reliable estimate of the obsolescence of inventory.

This represents a change in accounting estimate under FRS 102. The change has been applied prospectively, and its impact on the financial statements for the year is as follows:

D ecrease in stock provision: £3,245,5 86

Management considers the updated estimation methodology to provide a more accurate reflection of expected future realisable value. Future periods will reflect the revised estimation basis.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
25
16
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
4,483,392
3,211,975
Corporation tax recoverable
1,214,112
910,388
Amounts owed by group undertakings
6,925,065
5,231,980
Other receivables
176,427
813,294
Prepayments and accrued income
650,225
89,995
13,449,221
10,257,632

During the year, the Company reversed previously impaired value of trade receivables with a credit totalling £3,941 (2024: impairment debit totalling £184,734) was recognised in the statement of comprehensive income.

Amounts owed by group undertakings are interest free and repayable on demand.

17
Current liabilities
2025
2024
£
£
Trade payables
1,628,143
1,114,550
Amounts owed to group undertakings
7,358,430
617,741
Taxation and social security
366,827
372,065
Other payables
13,991
11,700
Accruals and deferred income
3,755,131
3,333,909
13,122,522
5,449,965

On 21 March 2025 both the legal charge and the debenture held by National Westminster Bank PLC were satisfied. As at 31 December 2025 there were no securities outstanding.

Amounts owed to group undertakings are interest free and repayable on demand.

18
Non-current liabilities
2025
2024
£
£
Amounts owed to group undertakings
10,635,206
10,635,206
Accruals and deferred income
314,421
-
0
10,949,627
10,635,206

Amounts owed to group undertakings are interest free.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
26
19
Provisions for liabilities
2025
2024
£
£
Warranty provision
158,000
145,000
Dilapidations provision
640,010
590,010
798,010
735,010
Movements on provisions:
Warranty provision
Dilapidations provision
Total
£
£
£
At 1 January 2025
145,000
590,010
735,010
Additional provisions in the year
38,554
50,000
88,554
Utilisation of provision
(25,554)
-
(25,554)
At 31 December 2025
158,000
640,010
798,010

The warranty provision represents management's best estimate of the Company's liability under warranties granted on products, based on past experience and industry averages for defective products.

A provision has been recognised in respect of the estimated costs of dilapidations required under the terms of the Company’s lease agreements. During the prior year, the provision was increased by £50,000 to reflect updated estimates aligned with the requirements for exiting the lease of the Company’s premises.

20
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
628,940
-
Short term timing differences
(6,822)
17,451
622,118
17,451
Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
20
Deferred taxation (continued)
27
2025
Movements in the year:
£
Liability at 1 January 2025
17,451
Charge to profit or loss
604,667
Liability at 31 December 2025
622,118
21
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
572,279
559,878

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The pension creditor at 31 December 2025 was £124,620 (2024 - £125,952).

22
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1

The share has attached to it full voting, dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption.

23
Other reserves
2025
2024
£
£
At 1 January 2025 and 31 December 2025
1,000,000
1,000,000

This capital contribution reserve was recognised on the acquisition of its subsidiary, where part of the consideration was shares, valued at £1,000,000, in the ultimate parent company.

24
Retained earnings

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid.

Radwell International- UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
28
25
Operating lease commitments
As lessee

Operating lease payments represent rentals payable by the company for its properties and certain plant and machinery. The main property lease is for a term of 20 years and rentals are increasing at 3% per annum throughout the term.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
427,347
413,807
Years 2-5
893,827
1,240,589
After 5 years
2,569,803
3,088,699
3,890,977
4,743,095
26
Ultimate controlling party

Radwell International- Europe Limited, a company incorporated in England and Wales, is the immediate parent company of Radwell International- UK Limited and is the smallest group of undertakings in which Radwell International- UK Limited is a member and for which consolidated financial statements are prepared. A copy of the consolidated financial statements can be obtained from Unit D, Dalewood Road, Lymedale Business Park, Newcastle Under Lyme, Staffordshire, ST5 9QZ.

Radwell International LLC, a company incorporated in the United States of America, is the ultimate parent company of Radwell International- UK Limited and is the largest group of undertakings in which Radwell International- UK Limited is a member and for which consolidated financial statements are prepared.

There is no ultimate controlling party.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2026.100 No description of principal activity K M Reville P F Battaglia D Lenehan K Monasebian R Massey 07287728 2025-01-01 2025-12-31 07287728 bus:Director1 2025-01-01 2025-12-31 07287728 bus:Director2 2025-01-01 2025-12-31 07287728 bus:Director3 2025-01-01 2025-12-31 07287728 bus:Director4 2025-01-01 2025-12-31 07287728 bus:Director5 2025-01-01 2025-12-31 07287728 bus:RegisteredOffice 2025-01-01 2025-12-31 07287728 2025-12-31 07287728 2024-01-01 2024-12-31 07287728 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 07287728 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 07287728 core:Goodwill 2025-12-31 07287728 core:Goodwill 2024-12-31 07287728 core:OtherResidualIntangibleAssets 2025-12-31 07287728 core:OtherResidualIntangibleAssets 2024-12-31 07287728 2024-12-31 07287728 core:ComputerSoftware 2025-12-31 07287728 core:ComputerSoftware 2024-12-31 07287728 core:PlantMachinery 2025-12-31 07287728 core:FurnitureFittings 2025-12-31 07287728 core:MotorVehicles 2025-12-31 07287728 core:LandBuildings 2024-12-31 07287728 core:PlantMachinery 2024-12-31 07287728 core:FurnitureFittings 2024-12-31 07287728 core:MotorVehicles 2024-12-31 07287728 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 07287728 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07287728 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 07287728 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 07287728 core:Non-currentFinancialInstruments 2025-12-31 07287728 core:Non-currentFinancialInstruments 2024-12-31 07287728 2024-12-31 07287728 core:ShareCapital 2025-12-31 07287728 core:ShareCapital 2024-12-31 07287728 core:OtherMiscellaneousReserve 2025-12-31 07287728 core:OtherMiscellaneousReserve 2024-12-31 07287728 core:RetainedEarningsAccumulatedLosses 2025-12-31 07287728 core:RetainedEarningsAccumulatedLosses 2024-12-31 07287728 core:ShareCapital 2023-12-31 07287728 core:RetainedEarningsAccumulatedLosses 2023-12-31 07287728 core:Goodwill 2025-01-01 2025-12-31 07287728 core:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 07287728 core:ComputerSoftware 2025-01-01 2025-12-31 07287728 core:LandBuildings core:LongLeaseholdAssets 2025-01-01 2025-12-31 07287728 core:PlantMachinery 2025-01-01 2025-12-31 07287728 core:FurnitureFittings 2025-01-01 2025-12-31 07287728 core:MotorVehicles 2025-01-01 2025-12-31 07287728 1 2025-01-01 2025-12-31 07287728 1 2024-01-01 2024-12-31 07287728 core:UKTax 2025-01-01 2025-12-31 07287728 core:UKTax 2024-01-01 2024-12-31 07287728 2 2025-01-01 2025-12-31 07287728 2 2024-01-01 2024-12-31 07287728 3 2025-01-01 2025-12-31 07287728 3 2024-01-01 2024-12-31 07287728 core:Goodwill 2024-12-31 07287728 core:ComputerSoftware 2024-12-31 07287728 core:Goodwill core:ExternallyAcquiredIntangibleAssets 2025-01-01 2025-12-31 07287728 core:ComputerSoftware core:ExternallyAcquiredIntangibleAssets 2025-01-01 2025-12-31 07287728 core:ExternallyAcquiredIntangibleAssets 2025-01-01 2025-12-31 07287728 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-12-31 07287728 core:PlantMachinery 2024-12-31 07287728 core:FurnitureFittings 2024-12-31 07287728 core:MotorVehicles 2024-12-31 07287728 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-12-31 07287728 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 07287728 core:Subsidiary1 2025-01-01 2025-12-31 07287728 core:Subsidiary1 1 2025-01-01 2025-12-31 07287728 core:CurrentFinancialInstruments 2025-12-31 07287728 core:CurrentFinancialInstruments 2024-12-31 07287728 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 07287728 bus:OrdinaryShareClass1 2025-12-31 07287728 bus:OrdinaryShareClass1 2024-12-31 07287728 core:WithinOneYear 2025-12-31 07287728 core:WithinOneYear 2024-12-31 07287728 core:BetweenTwoFiveYears 2025-12-31 07287728 core:BetweenTwoFiveYears 2024-12-31 07287728 core:MoreThanFiveYears 2025-12-31 07287728 core:MoreThanFiveYears 2024-12-31 07287728 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 07287728 bus:FRS102 2025-01-01 2025-12-31 07287728 bus:Audited 2025-01-01 2025-12-31 07287728 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP