ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after (crediting)/charging:

Financial Statements

A.B. Distributors Limited

For the year ended 31 December 2025

Registered number: NI008366


A.B. Distributors Limited

Company Information

Directors	Michael Dwan
	Frank Murphy
	Eamon Lennox
	Jonathan Hughes


Company secretary	Leslie Burgess


Registered number	NI008366


Registered office	2 Cromac Place
	The Gasworks
	Ormeau Road
	Belfast
	BT7 2JB
	Northern Ireland


Independent auditor	Grant Thornton
	Chartered Accountants & Statutory Auditors
	13-18 City Quay
	Dublin 2
	Ireland


Bankers	Ulster Bank Limited
	20 High Street
	Portadown Co.
	Armagh
	BT62 1HU


A.B. Distributors Limited

Contents

	Page
Directors' report	1
Directors' responsibilities statement	2
Independent auditor's report	3 - 7
Statement of comprehensive income	8
Statement of financial position	9
Statement of changes in equity	10
Notes to the financial statements	11 - 20


A.B. Distributors 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 during the year consisted of the wholesale of household appliances and related products.

Directors

The directors who served during the year were:

Michael Dwan

Frank Murphy

Eamon Lennox

Jonathan Hughes

Events since the end of the year

There have been no other significant events affecting the Company since the year end.

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.

Auditor

The auditor, Grant Thornton, continues in office 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 and signed on its behalf.

Michael Dwan Director	Frank Murphy Director

Date: 19 May 2026

Page 1


A.B. Distributors Limited

Directors' responsibilities statement

For the year ended 31 December 2025

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 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 and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙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.

On behalf of the board

Michael Dwan	Frank Murphy
Director	Director
Date: 19 May 2026

Page 2

Independent auditor's report to the members of A.B. Distributors Limited

Opinion

We have audited the financial statements of A.B. Distributors Limited ("the Company"), which comprise the Statement of comprehensive income, the Statement of financial position for the year ended 31 December 2025, and the related notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in the preparation is applicable law and accounting standards issued by the Financial Reporting Council 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, A.B. Distributors Limited's financial statements:

∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2025 and of its financial performance for the year then ended; 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 'Responsibilities of the auditor 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 FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. 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 the date 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.

Page 3

Independent auditor's report to the members of A.B. Distributors Limited (continued)

Other information

Other information comprises the information included in the annual report, other than the financial statements and our Auditor's report thereon, including the Directors' report.

The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 the audit:

∙the information given in the Directors' report for the 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 we have 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 take advantage of the small companies' exemptions from the requirement to prepare a strategic report or in preparing the Directors' report.

Page 4

Independent auditor's report to the members of A.B. Distributors Limited (continued)

Responsibilities of management and those charged with governance for the financial statements

As explained more fully in the Directors' responsibilities statement, management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS 102, and for such internal control as directors determine necessary to enable the preparation of financial statements are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is 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 management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company’s financial reporting process.

Responsibilities of the auditor for the audit of the financial statements

The objectives of an auditor 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 their 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.

A further description of an auditor's 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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Page 5

Independent auditor's report to the members of A.B. Distributors Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Data Privacy law, Employment Law, Environmental Regulations and Health & Safety Regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and local tax legislation. The Audit engagement partner considered the experience and expertise of the engagement team to ensure that the team had appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

In response to these principal risks, our audit procedures included but were not limited to:

∙inquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;

∙review of minutes of directors’ meetings during the year to corroborate inquiries made;

∙gaining an understanding of the internal controls established to mitigate risk related to fraud;

∙discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;

∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;

∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;

∙challenging assumptions and judgements made by management in their significant accounting estimates including their impairment assessment of debtors balances and provisions for liabilities and charges; and

∙review of the financial statement disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

Page 6

Independent auditor's report to the members of A.B. Distributors Limited (continued)

The purpose of our audit work and to whom we owe our responsibilities

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.

Jason Crawford (Senior statutory auditor)

for and on behalf of

Grant Thornton

Chartered Accountants &

Statutory Auditors
13-18 City Quay

Dublin 2
Ireland

Date: 19 May 2026

Page 7


A.B. Distributors Limited

Statement of comprehensive income

For the year ended 31 December 2025

	2025	2024
Note	£	£


Turnover		6,362,827	7,364,435
Cost of sales		(4,744,435)	(5,545,179)
Gross profit		1,618,392	1,819,256
Distribution costs		(775,491)	(739,619)
Administrative expenses		(661,365)	(898,416)
Operating profit	4	181,536	181,221
Interest receivable and similar income		18,422	10,957
Profit before tax		199,958	192,178
Tax on profit	7	(42,163)	(48,535)
Profit for the year		157,795	143,643

All amounts relate to continuing operations.

There was no other comprehensive income for 2025 (2024: £Nil).

The notes on pages 11 to 20 form part of these financial statements.

Page 8


A.B. Distributors Limited Registered number:NI008366

Statement of financial position

As at 31 December 2025

		2025		2024
Note		£		£

Fixed assets
Tangible fixed assets	8		124,646		53,031
			124,646		53,031
Current assets
Debtors: amounts falling due within one year	9	778,239		3,063,825
Cash at bank and in hand	10	3,674,569		871,756
		4,452,808		3,935,581
Current liabilities
Creditors: amounts falling due within one year	11	(1,734,408)		(1,303,361)
Net current assets			2,718,400		2,632,220

Net assets			2,843,046		2,685,251

Capital and reserves
Called up share capital	13	20,000	20,000
Profit and loss account	14	2,823,046	2,665,251
Shareholders' funds		2,843,046	2,685,251

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 by:

Michael Dwan	Frank Murphy
Director	Director

Date: 19 May 2026

The notes on pages 11 to 20 form part of these financial statements.

Page 9


A.B. Distributors Limited

Statement of changes in equity

For the year ended 31 December 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2025	20,000	2,665,251	2,685,251
Comprehensive income for the year
Profit for the year	-	157,795	157,795
At 31 December 2025	20,000	2,823,046	2,843,046

Statement of changes in equity

For the year ended 31 December 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	20,000	2,521,608	2,541,608
Comprehensive income for the year
Profit for the year	-	143,643	143,643
At 31 December 2024	20,000	2,665,251	2,685,251

The notes on pages 11 to 20 form part of these financial statements.

Page 10


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

1.	General information

A.B. Distributors Limited is a company limited by shares which is incorporated in Northern Ireland registered under the number NI008366 with a registered office at 2 Cromac Place, The Gasworks, Ormeau Road, Belfast, BT7 2JB.

The principal activity of the Company during the year consisted of the wholesale of household appliances and related products.

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 judgement in applying the Company's accounting policies (see note 3).

The financial statements are presented in Great Britain Pound (£).

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 11


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Interest income

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

2.5

Pensions

The contributions to employee pension are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

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 reporting date in the countries where the Company operates and generates income.

Page 12


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

2.Accounting policies (continued)

2.6

Current and deferred taxation (continued)

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.

2.7

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles	-	Straight line basis at 25% per annum
Fixtures and fittings	-	Straight line basis at 25% per annum
Showrooms	-	Straight line basis at 25% per annum

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.

Page 13


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

2.Accounting policies (continued)

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgments and estimates.

Judgments and estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may ultimately differ from these estimates.

In the process of applying the Company’s accounting policies, management has made the following judgments and estimates, which have the most significant effect on the amounts recognized in the financial statements:

Impairment of debtors

Provisions are made for specific and groups of accounts, where objective evidence of impairment exists. The Group evaluates these accounts based on available facts and circumstances, including, but not limited to, the length of the Company's relationship with the customers, the customers’ current credit status based on known market forces, average age of accounts, collection experience and historical loss experience.

Provisions for liabilities and charges

The Company provides warranty to customers in the normal course of business. Charges to provisions are recognised in the same period in which the related sales are recorded based on contract terms. Provisions for estimated costs and expenses recognised by the Company are the best estimate of the expenditure required to settle the Company's present obligations at the reporting date. In establishing the amount of any provision, judgments have to be made concerning the risks and uncertainties that surround particular events which give rise to the obligation.

Page 14


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

Exchange differences	(97,080)	89,885
Other operating lease rentals	20,351	19,821
Auditor's remuneration	10,217	6,855

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Number of persons employed by the Company	9	11

6.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	74,730	83,789
Company contributions to defined contribution pension schemes	6,802	6,604
	81,532	90,393

	Deferred tax
	Deferred tax movements	42,163	48,535


	Tax on profit	42,163	48,535

Page 15


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

7.Taxation (continued)

Profit before tax

199,958

192,178

Profit multiplied by standard rate of corporation tax in the UK of 25% (2024: 25%)	49,990	48,045
Effects of:
Expenses not deductible for tax purposes	2,096	2,277
Capital allowances for year in excess of depreciation	(9,317)	2,154
Utilisation of carry forward tax losses	(42,163)	(48,535)
Provisions tax adjustment	(606)	(3,941)
Deferred tax movement	42,163	48,535
Total tax charge for the year	42,163	48,535

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 16


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

8.	Tangible fixed assets

	Motor vehicles	Fixtures and fittings	Showrooms	Total
	£	£	£	£
Cost or valuation
At 1 January 2025	130,180	39,482	20,817	190,479
Additions	84,942	24,298	-	109,240
Disposals	(65,340)	-	-	(65,340)
At 31 December 2025	149,782	63,780	20,817	234,379
Depreciation
At 1 January 2025	82,429	34,202	20,817	137,448
Charge for the year on owned assets	35,676	1,949	-	37,625
Disposals	(65,340)	-	-	(65,340)
At 31 December 2025	52,765	36,151	20,817	109,733
Net book value
At 31 December 2025	97,017	27,629	-	124,646
At 31 December 2024	47,751	5,280	-	53,031

9.	Debtors: Amounts falling due within one year

					2025	2024
					£	£


Trade debtors	666,333	1,005,772
Amounts owed by group undertakings	-	1,907,039
Prepayments and accrued income	15,600	12,545
Deferred taxation	96,306	138,469
	778,239	3,063,825

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

10.	Cash
		2025	2024
		£	£

	Cash at bank and in hand	3,674,569	871,756

Page 17


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

11.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	96,573	97,409
Amounts owed to group undertakings	564,253	-
Other taxation and social security	335,529	395,125
Accruals and deferred income	738,053	810,827
	1,734,408	1,303,361

Trade creditors are payable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms.

Other taxation and social insurance are repayable at various dates over the coming months in accordance with applicable statutory provisions.

The terms of accruals and deferred income are based on the underlying contracts.

12.	Deferred taxation

	2025	2024
	£	£

At beginning of year	138,469	187,004
Charged to profit or loss	(42,163)	(48,535)
At end of year	96,306	138,469

The deferred tax asset is made up as follows:
	2025	2024
	£	£

Tax losses carried forward

96,306

138,469

Page 18


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

13.	Share capital
		2025	2024
		£	£

Authorised

25,000 (2024 - 25,000) Type A ordinary shares of £1.00 each	25,000	25,000
25,000 (2024 - 25,000) Type B ordinary shares of £1.00 each	25,000	25,000

	50,000	50,000

Allotted, called up and fully paid

10,000 (2024 - 10,000) Type A ordinary shares of £1.00 each	10,000	10,000
10,000 (2024 - 10,000) Type B ordinary shares of £1.00 each	10,000	10,000

	20,000	20,000

14.

Reserves

Profit and loss account

Includes all current and prior financial period retained profits and losses.

15.	Pension commitments

The Company contributes to a defined contribution pension scheme. The Company's contribution is charged against profit in the year which they are incurred. During the year the Company made contributions to the scheme in the sum of £35,878 (2024: £32,744).

Not later than 1 year

20,351

Operating leases recognised as an expense for the year amounts to £20,351 (2024: £19,821).

Page 19


A.B. Distributors Limited

Notes to the financial statements

For the year ended 31 December 2025

17.	Contingent liabilities

The Company has a contingent liability by way of guarantees provided by the immediate parent company, Convest Limited to a third party.

Convest Limited, the Company's ultimate parent company, has entered into various bank facilities with Allied Irish Bank. The facilities are secured by a composite debenture incorporating charges over assets and undertakings of Convest Limited and its subsidiaries to include equitable charges over the entire issued share capital in each of the companies.

18.	Related party transactions
	The Company has availed of the exemption in FRS 102 not to disclose transactions with group companies that are eliminated on consolidation, as the Convest Limited consolidated financial statements, in which this company's results are included, are publicly available.

19.	Events after the end of the year

There have been no significant events affecting the Company since the year end.

20.	Controlling party

The Company is a wholly owned subsidiary of Gowan Investments Limited. The smallest and largest group to consolidate the results of the Company is that headed by the ultimate parent company, Convest Limited. Gowan Investments Limited is incorporated in the United Kingdom and Convest Limited is incorporated in Ireland. The consolidated financial statements of Convest Limited are filed with the Companies Registration Office, Dublin 1, Republic of Ireland.

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