Pioneer Supplies Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Pioneer Supplies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08814514 . The registered office is Unit A2, Tancok's Business Park, Four Cross Avenue, Willand, Cullompton, Devon, EX15 2FB.

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. 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.

2.3. 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	10 years
Plant & Machinery	25% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Reducing balance
Computer Equipment	25% Reducing balance

2.4. 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.

2.5. 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.

...CONTINUED

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Pioneer Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Taxation - continued

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: 7 (2024: 7)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2025	96,750	30,791	13,450	21,664
Additions	-	-	-	-

As at 31 December 2025	96,750	30,791	13,450	21,664

Depreciation
As at 1 January 2025	16,901	15,121	8,366	9,871
Provided during the period	9,675	3,917	1,271	2,948

As at 31 December 2025	26,576	19,038	9,637	12,819

Net Book Value
As at 31 December 2025	70,174	11,753	3,813	8,845

As at 1 January 2025	79,849	15,670	5,084	11,793


	Computer Equipment	Total
	£	£
Cost
As at 1 January 2025	17,473	180,128
Additions	1,349	1,349

As at 31 December 2025	18,822	181,477

Depreciation
As at 1 January 2025	9,394	59,653
Provided during the period	2,357	20,168

As at 31 December 2025	11,751	79,821

Net Book Value
As at 31 December 2025	7,071	101,656

As at 1 January 2025	8,079	120,475

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Pioneer Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Stocks

	2025	2024
	£	£
Stocks	2,229,891	2,529,273

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	183,740	67,814

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	514	514
Bank loans and overdrafts	-	141,667
Amounts owed to group undertakings	2,412,165	2,245,007
Other creditors	-	44,027
Taxation and social security	711,666	1,019,831

	3,124,345	3,451,046

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

	2025	2024
	£	£
Bank loans	-	119,444

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mrs Maryna Elliman	25,078	28,800	15,737	-	38,141
Mr Alexander Elliman	25,079	28,800	15,738	-	38,141

The above loan is unsecured, interest free and repayable on demand.

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Pioneer Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

11. Related Party Transactions

The company has taken advantage of the exemption in paragraph 33.1A of FRS 102 not to disclose transactions with other wholly owned members of the group.

During the year the company advanced £95,000 (2024: £nil) to Paco Perfumerias SL Ltd, a company in which Mr Alexander James Elliman, a director of the company, holds a 47.5% interest and of which he is also a director. At the balance sheet date, £95,016 (2024: £16) was due from that company. The loan is unsecured, interest free and repayable on demand. No provision for impairment has been recognised against the balance (2024: £nil) and no amounts were written off during the year.

At the balance sheet date, £nil (2024: £10,000) was due to Atlas Trading South West Ltd, a company having directors in common with the company. During the year the company repaid £10,000, being the balance outstanding at the previous balance sheet date. The balance was unsecured, interest free and repayable on demand.

Other than the transactions disclosed above and those disclosed elsewhere in these financial statements, there were no related party transactions requiring disclosure under FRS 102.

12. Ultimate Controlling Party

The company's immediate parent undertaking is Koka Holdings Ltd, a company incorporated in England and Wales, which holds 100% of the issued share capital of the company.

Throughout the year ended 31 December 2025 the issued share capital of Koka Holdings Ltd was held in equal shares by Mr Alexander James Elliman and Mrs Maryna Elliman, who together exercised joint control over the company. On 1 May 2026, after the balance sheet date, Mr Elliman transferred his entire 50% holding in Koka Holdings Ltd to Mrs Elliman. At the date of approval of these financial statements Mrs Elliman holds 100% of the issued share capital of Koka Holdings Ltd and is the ultimate controlling party.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		101,656		120,475

			101,656		120,475
CURRENT ASSETS
Stocks	5	2,229,891		2,529,273
Debtors	6	183,740		67,814
Cash at bank and in hand		712,999		926,672

		3,126,630		3,523,759
Creditors: Amounts Falling Due Within One Year	7	(3,124,345 )		(3,451,046 )

NET CURRENT ASSETS (LIABILITIES)			2,285		72,713

TOTAL ASSETS LESS CURRENT LIABILITIES			103,941		193,188

Creditors: Amounts Falling Due After More Than One Year	8		-		(119,444 )

NET ASSETS			103,941		73,744

CAPITAL AND RESERVES
Called up share capital	9		200		200
Profit and Loss Account			103,741		73,544

SHAREHOLDERS' FUNDS			103,941		73,744