REGISTERED NUMBER: 02392341 (England and Wales)

ADDWELL BUSINESS EQUIPMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Clowes

M R Miles

B J Miles

REGISTERED OFFICE:

82 Brentwood Road

Romford

Essex

RM1 2EL

REGISTERED NUMBER:

02392341 (England and Wales)

ACCOUNTANTS:

Clay Ratnage Strevens & Hills

Chartered Accountants

Suite D, The Business Centre

Faringdon Avenue

Romford

Essex

RM3 8EN

FIXED ASSETS

Tangible assets

4

175,846

202,609

Investments

5

123,934

98,550

299,780

301,159

CURRENT ASSETS

Stocks

6

5,000

4,500

Debtors

7

20,252

37,096

Cash at bank

206,989

195,471

232,241

237,067

CREDITORS

Amounts falling due within one year

8

325,861

314,750

NET CURRENT LIABILITIES

(93,620

)

(77,683

)

TOTAL ASSETS LESS CURRENT LIABILITIES

206,160

223,476

CREDITORS

Amounts falling due after more than one year

9

93,212

107,290

NET ASSETS

112,948

116,186

CAPITAL AND RESERVES

Called up share capital

10

100

100

Capital redemption reserve

90

90

Retained earnings

112,758

115,996

112,948

116,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2026 and were signed on its behalf by:

M R Miles - Director

B J Miles - Director

1.	STATUTORY INFORMATION

Addwell Business Equipment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

10% on cost and 2% on cost

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet 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, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2025 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2025

71,071

15,283

11,249

285,776

383,379

Additions

-

-

978

-

978

Disposals

-

-

-

(13,500

)

(13,500

)

At 31 May 2026

71,071

15,283

12,227

272,276

370,857

DEPRECIATION

At 1 June 2025

29,358

15,283

9,171

126,958

180,770

Charge for year

2,225

-

771

20,474

23,470

Eliminated on disposal

-

-

-

(9,229

)

(9,229

)

At 31 May 2026

31,583

15,283

9,942

138,203

195,011

NET BOOK VALUE

At 31 May 2026

39,488

-

2,285

134,073

175,846

At 31 May 2025

41,713

-

2,078

158,818

202,609

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2025

and 31 May 2026

139,038

DEPRECIATION

At 1 June 2025

14,483

Charge for year

12,974

At 31 May 2026

27,457

NET BOOK VALUE

At 31 May 2026

111,581

At 31 May 2025

124,555

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 June 2025

98,550

Additions

4,092

Revaluations

21,292

At 31 May 2026

123,934

NET BOOK VALUE

At 31 May 2026

123,934

At 31 May 2025

98,550

6.

STOCKS

2026

2025

£

£

Stocks

5,000

4,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

9,705

29,350

Other debtors

10,547

7,746

20,252

37,096

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

14,078

11,627

Trade creditors

8,478

18,224

Taxation and social security

90,984

90,593

Other creditors

212,321

194,306

325,861

314,750

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

93,212

107,290

10.	CALLED UP SHARE CAPITAL

2025

2024

£

£

Allotted, called up and fully paid

25 (2025 - 25) Ordinary A shares of £1.00 each

25

25

25 (2025 - 25) Ordinary B shares of £1.00 each

25

25

25 (2025 - 25) Ordinary C shares of £1.00 each

25

25

25 (2025 - 25) Ordinary D shares of £1.00 each

25

25

100

100

Each class of shares shall rank pari passu with the exception of dividend rights. Each class of shares shall have independent dividend rights.

11.	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 £8,472 (2025 - £6,462). The amount outstanding at the year end was £187 (2025 - £275).

12.	CONTROLLING PARTY

The parent company is Addwell Holdings Limited incorporated in England and Wales, registered office 82 Brentwood Road, Romford, Essex, United Kingdom, RM1 2EL.