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Registered number: 02710367 METRICAB POWER ENGINEERING LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 TWP Accounting LLP Chartered Accountants & Statutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 8DE
METRICAB POWER ENGINEERING LIMITED COMPANY INFORMATION
Directors | C E Thatcher
| C R Skelley (resigned 17 March 2025)
| T S Schifano
| K L Lumley
| A Cohen (appointed 17 March 2025)
| G Lockless (appointed 17 March 2025)
| L Welton (appointed 17 March 2025)
Company secretary | C E Thatcher
Registered number | 02710367
Registered office | Riverside House
| Sedgwick Lane
| Horsham
| West Sussex
| RH13 6QE
Independent auditor | TWP Accounting LLP
| Chartered Accountants & Statutory Auditors
| The Old Rectory
| Church Street
| Weybridge
| Surrey
| KT13 8DE
METRICAB POWER ENGINEERING LIMITED CONTENTS
| Page
Directors' Report | 1 - 2
Independent Auditor's Report | 3 - 6
Statement of Income and Retained Earnings | 7
Balance Sheet | 8 - 9
Notes to the Financial Statements | 10 - 19
METRICAB POWER ENGINEERING LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Principal activity
The principal activity of the company is electrical contracting.
Directors
The directors who served during the year were:
C E Thatcher
C R Skelley (resigned 17 March 2025)
T S Schifano
K L Lumley
A Cohen (appointed 17 March 2025)
G Lockless (appointed 17 March 2025)
L Welton (appointed 17 March 2025)
Directors' responsibilities statement
The directors are responsible for preparing the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the 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 to 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 of information to auditor
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information. Page 1
METRICAB POWER ENGINEERING LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Post balance sheet events
Subsequent to the year end, the company's sole freehold property was transferred to its parent company, Metricab Holdings Limited, as part of a wider group reorganisation. As this transaction occurred after the reporting date, no adjustment has been made to the amounts recognised in these financial statements.
Auditor
The auditor, TWP Accounting LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Small companies note
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board on 18 August 2026 and signed on its behalf.
................................................ K L Lumley Director
Page 2
METRICAB POWER ENGINEERING LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF METRICAB POWER ENGINEERING LIMITED
Opinion
We have audited the financial statements of Metricab Power Engineering Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of 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 United Kingdom, including the Financial Reporting Council'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 Company'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. Page 3
METRICAB POWER ENGINEERING LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF METRICAB POWER ENGINEERING LIMITED (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' Report has been prepared in accordance with applicable legal requirements.
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 identified material misstatements in the Directors' Report. 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; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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 Company'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. Page 4
METRICAB POWER ENGINEERING LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF METRICAB POWER ENGINEERING LIMITED (CONTINUED)
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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙Obtain an understanding of the policies and procedures management has in place to detect and prevent fraud and non-compliance with laws and regulations. ∙Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations. ∙Enquire of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims. ∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. ∙Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon. ∙Enquire of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims. ∙Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified. ∙Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period. ∙Review of after year end information to ensure expenditure have been accounted for in the correct period. ∙Perform analytical review procedures to identify any irregularities and investigation thereon. ∙Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report. Page 5
METRICAB POWER ENGINEERING LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF METRICAB POWER ENGINEERING LIMITED (CONTINUED)
Use of our report
This report is made solely to the Company's members, as a body, 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 Company's members those matters we are required to state to them 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 members, as a body, for our audit work, for this report, or for the opinions we have formed. Philip Munk FCA FCCA (Senior Statutory Auditor) for and on behalf of TWP Accounting LLP Chartered Accountants & Statutory Auditors The Old Rectory Church Street Weybridge Surrey KT13 8DE 18 August 2026 Page 6
METRICAB POWER ENGINEERING LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
| £ | £
Turnover |  | 6,005,004 | 5,790,566
Cost of sales |  | (4,474,905) | (3,438,864)
Gross profit |  | 1,530,099 | 2,351,702
Administrative expenses |  | (2,048,993) | (1,801,254)
Operating (loss)/profit |  | (518,894) | 550,448
Interest receivable and similar income |  | 8,185 | 8,756
Interest payable and expenses |  | (521) | (1,061)
(Loss)/profit before tax |  | (511,230) | 558,143
Tax on (loss)/profit |  | 117,035 | (145,513)
(Loss)/profit after tax |  | (394,195) | 412,630
Retained earnings at the beginning of the year |  | 1,247,941 | 855,311
|  | 1,247,941 | 855,311
(Loss)/profit for the year |  | (394,195) | 412,630
Dividends declared and paid |  | (2,000) | (20,000)
Retained earnings at the end of the year |  | 851,746 | 1,247,941
The notes on pages 10 to 19 form part of these financial statements.
Page 7
METRICAB POWER ENGINEERING LIMITED REGISTERED NUMBER: 02710367 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 873,322 |  | 911,731
|  |  | 873,322 |  | 911,731
Current assets |  |  |  |  |
Stocks | 6 | 220,496 |  | 250,258 |
Debtors: amounts falling due within one year | 7 | 1,205,832 |  | 1,604,783 |
Cash at bank and in hand | 8 | 853,855 |  | 363,510 |
|  | 2,280,183 |  | 2,218,551 |
Creditors: amounts falling due within one year | 9 | (1,800,087) |  | (1,367,835) |
Net current assets |  |  | 480,096 |  | 850,716
Total assets less current liabilities |  |  | 1,353,418 |  | 1,762,447
Creditors: amounts falling due after more than one year | 10 |  | (5,389) |  | (15,132)
Provisions for liabilities |  |  |  |  |
Deferred tax | 12 | (16,183) |  | (19,274) |
|  |  | (16,183) |  | (19,274)
Net assets |  |  | 1,331,846 |  | 1,728,041
Capital and reserves |  |  |  |  |
Called up share capital | 13 |  | 100 |  | 100
Revaluation reserve | 14 |  | 480,000 |  | 480,000
Profit and loss account | 14 |  | 851,746 |  | 1,247,941
|  |  | 1,331,846 |  | 1,728,041
Page 8
METRICAB POWER ENGINEERING LIMITED REGISTERED NUMBER: 02710367 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 August 2026.
................................................ K L Lumley
Director
The notes on pages 10 to 19 form part of these financial statements. Page 9
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Metricab Power Engineering Limited is incorporated in England and Wales and limited by shares. The principal activity of the business is that of electrical contractors. The registered office address can be found within the company information page of these financial statements. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. Monetary amounts in these financial statements are rounded to the nearest pound. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover represents the value, excluding Value Added Tax, of work carried out on electrical contracting services undertaken during the period. Turnover is calculated as the proportion of total contract value completed at the balance sheet date. Revenues derived from variations to contracts are recognised only when they have been accepted by the customer, and the variations have been completed. Full provision is made for losses on all contracts in the year in which they are first foreseen. Where work has been completed but not yet invoiced, applications for work done are made and included in debtors as income.
| 2.3 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 10
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 2.85% straight line
|  |  |  | Plant and machinery | - | 15 - 25% reducing balance
|  |  |  | Motor vehicles | - | 30% reducing balance
|  |  |  | Office equipment | - | 10 - 15% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Depreciation is not provided on freehold land.
| 2.4 | Stocks
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.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.8 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 11
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.10 | Operating leases: the Company as lessor
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term. Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.
| 2.11 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.12 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 12
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.13 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | Auditor's remuneration
| During the year, the Company obtained the following services from the Company's auditor:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Auditor's Remuneration | 16,730 | 16,140
4. | Employees
| The average monthly number of employees, including directors, during the year was 34 (2024 - 36).
Page 13
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Motor vehicles | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2025 | 1,000,000 | 327,771 | 290,691 | 134,996 | 1,753,458
| Additions | - | 2,450 | 780 | - | 3,230
| At 31 December 2025 | 1,000,000 | 330,221 | 291,471 | 134,996 | 1,756,688
| Depreciation |  |  |  |  |
| At 1 January 2025 | 193,452 | 268,142 | 247,192 | 132,941 | 841,727
| Charge for the year on owned assets | 18,571 | 9,485 | 3,874 | 514 | 32,444
| Charge for the year on financed assets | - | - | 9,195 | - | 9,195
| At 31 December 2025 | 212,023 | 277,627 | 260,261 | 133,455 | 883,366
| Net book value |  |  |  |  |
| At 31 December 2025 | 787,977 | 52,594 | 31,210 | 1,541 | 873,322
| At 31 December 2024 | 806,548 | 59,629 | 43,499 | 2,055 | 911,731
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Freehold | 787,977 | 806,548
|  | 787,977 | 806,548
| Paragraph 35.10(d) of FRS 102 provides an optional exemption from restating the value of the property based on its original cost. The company has decided not to continue its policy of revaluation from the date of transition which was 1 August 2015, as permitted by FRS 102. The previously revalued amount is now used as its deemed cost. In order to comply with company law the revaluation reserve would be retained and the excess depreciation would continue to be offset against it.
Page 14
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 5.Tangible fixed assets (continued)
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 21,455 | 30,649
|  | 21,455 | 30,649
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Stock | 220,496 | 250,258
|  | 220,496 | 250,258
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,050,851 | 1,125,295
| Other debtors | 115,944 | -
| Prepayments and accrued income | 18,127 | 15,909
| Amounts recoverable on contract applications | 20,910 | 463,579
|  | 1,205,832 | 1,604,783
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 853,855 | 363,510
| Less: bank overdrafts | - | (418)
|  | 853,855 | 363,092
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METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | - | 418
| Bank loans | 5,268 | 10,375
| Trade creditors | 1,191,175 | 938,287
| Corporation tax | - | 156,113
| Other taxation and social security | 122,004 | 128,237
| Obligations under finance lease and hire purchase contracts | 5,388 | 5,388
| Other creditors | 356,163 | 23,975
| Accruals and deferred income | 120,089 | 105,042
|  | 1,800,087 | 1,367,835
| Included in creditors due within one year are secured bank overdrafts of £nil (2024 - £418) and secured hire purchase agreements of £5,388 (2024 - £5,388).
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 5,254
| Net obligations under finance leases and hire purchase contracts | 5,389 | 9,878
|  | 5,389 | 15,132
| Included in creditors due after more than one year are secured hire purchase agreements of £5,389 (2024 - £9,878).
11. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 5,268 | 10,375
| Amounts falling due 1-2 years |  |
| Bank loans | - | 5,254
|  | 5,268 | 15,629
| The bank loan is an unsecured loan.
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METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (19,274) | (29,874)
| Charged to profit or loss | 3,091 | 10,600
| At end of year | (16,183) | (19,274)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (16,183) | (19,274)
|  | (16,183) | (19,274)
13. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares of £1.00 each | 100 | 100
| On 5 November 2025, the shareholders completed a share for share exchange whereby Metricab Holdings Limited was incorporated as a new holding company and became the immediate parent undertaking of the company.
14. | Reserves
Revaluation reserve The revaluation reserve represents the cumulative effect of revaluations of tangible fixed assets where a policy of revaluation was previously adopted. Paragraph 35.10(d) of FRS 102 provides an optional exemption from restating the value of the property based on its original cost. The company has decided not to continue its policy of revaluation as permitted by FRS 102. The revalued amount from the valuation as at 1 August 2015 is now used as its deemed cost. In order to comply with company law the revaluation reserve has been retained and any excess depreciation will be offset against it. Profit and loss account The profit and loss account represents cumulative profits and losses net of dividends and other adjustments. Page 17
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
15. | Contingent liabilities
At the reporting date, the company is party to ongoing High Court proceedings with a customer. The proceedings relate to amounts due between the parties and the validity of sums received by the company following an adjudicator's decision during the year ended 31 December 2025. The outcome of the matter remains uncertain and, consequently, the existence and amount of any further liability or recovery cannot presently be determined with sufficient reliability. The directors consider that disclosure of further information, including the financial effect of the matter, could seriously prejudice the company's position in the ongoing proceedings and, accordingly, such information has not been disclosed.
16. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £55,646 (2024 - £97,072). There are contributions payable to the fund at the balance sheet date in the current amounting to £9,722 (2024 - £14,767).
17. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Later than 1 year and not later than 5 years | 105,504 | 41,902
|  | 105,504 | 41,902
18. | Related party transactions
| During the year the company purchased goods and services of £350 (2024 - £1,013) from Eurotech Mouldings Limited, a company in which the close family members of C E Thatcher and C R Skelley have a 50% interest. At the balance sheet date, there are no balances (2024 - £nil) due to Eurotech Mouldings Limited. At the balance sheet date, the company was owed an amount of £2,000 (2024 - £1,000 owed to) by the directors.
19. | Post balance sheet events
Subsequent to the year end, the company's sole freehold property was transferred to its parent company, Metricab Holdings Limited, as part of a wider group reorganisation. As this transaction occurred after the reporting date, no adjustment has been made to the amounts recognised in these financial statements. Page 18
METRICAB POWER ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
20. | Controlling party
The immediate parent company as of 5th November 2025 is Metricab Holdings Limited. At the balance sheet date there is no ultimate controlling party.
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