REGISTERED NUMBER: 12602249 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026

FOR

PROLIGHT CONCEPTS (UK) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

A J Jeffrey

Mrs S K Jeffrey

G Alker

B T Jeffrey

REGISTERED OFFICE:

Edison Point

Regent Street

Colne

Lancashire

BB8 8LJ

REGISTERED NUMBER:

12602249 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mel Henry

AUDITORS:

Ainsworths Limited

Chartered Accountants

and Statutory Auditors

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

The directors present their strategic report for the year ended 31st March 2026.

REVIEW OF BUSINESS

The principal activity of the company in the period under review was that of wholesalers of lighting systems and related products.

The company is the main trading company in the Prolight Concepts Group of Companies. The company is one of the leading suppliers of lighting systems and related products to the entertainment industry. The Prolight brand has become synonymous with lighting innovation, perfect lighting products and reliability of product.

The directors consider the results achieved by the company to be very good, considering the current UK economy. The company's market share in the UK continues to grow and it is envisaged will improve further in the coming years following the continued investment in staffing and resources. The product ranges continue to be regularly updated with new innovative technology which is expected to improve income and profitability.

The company's key performance indicators during the period were as follows:

2025/26

2024/25

Turnover

£20,532,411

£18,093,215

Gross %

34.22%

32.27%

EBITDA

£4,007,610

£3,002,359

The directors are satisfied with the current results. Turnover has been maintained at levels consistent with the prior year. Gross profit margins have increased slightly due to sales mix and decrease in costs.

The balance sheet improved as the majority of the profits are retained within the business as working capital.

The group does not have any external funding requirements or reliance on any external creditors for its day to day operations.

The directors are confident in the future outlook of the company and are budgeting an increase in turnover and market share for 2026/27.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal commercial risks and uncertainties faced by the company include the general economic climate, seasonal weather factors and rising costs. The directors monitor these risks in order to respond and react to changes in the market conditions.

FINANCIAL RISK MANAGEMENT

The company's operations expose it to a variety of financial risks that include the effects of credit, currency, interest rate and liquidity risk. The directors actively manage these risks by monitoring levels of risk and related costs of mitigating these.

ON BEHALF OF THE BOARD:

A J Jeffrey - Director

17th September 2026

The directors present their report with the financial statements of the company for the year ended 31st March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of that of wholesalers of lighting systems and related products.

DIVIDENDS

No dividends will be distributed for the year ended 31st March 2026.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2025 to the date of this report.

A J Jeffrey

Mrs S K Jeffrey

G Alker

B T Jeffrey

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;

-	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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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 company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A J Jeffrey - Director

17th September 2026

Opinion

We have audited the financial statements of Prolight Concepts (UK) Limited (the 'company') for the year ended 31st March 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, 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 31st March 2026 and of its profit 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 Auditors' 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

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 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 the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have 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 Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page three, 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 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.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006 and tax legislation.

We have 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 inappropriate journal entries, management bias in accounting estimates and judgements and inappropriate disclosure of related party transactions. Our audit procedures designed to address these risks included, but were not limited to:

- Enquiries with management, regarding any known or suspected instances of non-compliance with laws and regulations, and fraud;

- Agreement of the financial statement disclosures to the underlying supporting documentation;

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud;

- Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to provisions and future performance;

- Auditing the risk of management override of controls, including through the testing journal entries and other adjustments for appropriateness;

- Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal controls.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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 concealment by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Mel Henry (Senior Statutory Auditor)

for and on behalf of Ainsworths Limited

Chartered Accountants

and Statutory Auditors

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

17th September 2026

TURNOVER

20,532,411

18,093,215

Cost of sales

13,506,966

12,253,975

GROSS PROFIT

7,025,445

5,839,240

Distribution costs

477,908

499,978

Administrative expenses

2,794,343

2,578,404

3,272,251

3,078,382

3,753,194

2,760,858

Other operating income

-

36,239

OPERATING PROFIT

4

3,753,194

2,797,097

Interest receivable and similar income

24,194

39,841

3,777,388

2,836,938

Interest payable and similar expenses

5

152

209,067

PROFIT BEFORE TAXATION

3,777,236

2,627,871

Tax on profit

6

987,811

699,344

PROFIT FOR THE FINANCIAL YEAR

2,789,425

1,928,527

PROFIT FOR THE YEAR

2,789,425

1,928,527

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,789,425

1,928,527

FIXED ASSETS

Tangible assets

7

7,518,746

7,657,729

CURRENT ASSETS

Stocks

8

8,197,796

7,255,528

Debtors

9

2,309,496

1,459,229

Cash at bank

2,224,916

928,671

12,732,208

9,643,428

CREDITORS

Amounts falling due within one year

10

1,205,671

4,591,910

NET CURRENT ASSETS

11,526,537

5,051,518

TOTAL ASSETS LESS CURRENT LIABILITIES

19,045,283

12,709,247

PROVISIONS FOR LIABILITIES

11

233,722

244,491

NET ASSETS

18,811,561

12,464,756

CAPITAL AND RESERVES

Called up share capital

12

3,557,480

100

Retained earnings

13

15,254,081

12,464,656

SHAREHOLDERS' FUNDS

18,811,561

12,464,756

The financial statements were approved by the Board of Directors and authorised for issue on 17th September 2026 and were signed on its behalf by:

A J Jeffrey - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st April 2024

100

10,536,129

10,536,229

Changes in equity

Total comprehensive income

-

1,928,527

1,928,527

Balance at 31st March 2025

100

12,464,656

12,464,756

Changes in equity

Issue of share capital

3,557,380

-

3,557,380

Total comprehensive income

-

2,789,425

2,789,425

Balance at 31st March 2026

3,557,480

15,254,081

18,811,561

1.	STATUTORY INFORMATION

Prolight Concepts (UK) 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In 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.

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

Warranty provision - the directors have reviewed current and historic data along with assessment of other factors to estimate the value of all associated costs relating to the fulfilment of future warranty claims processed by customers.

Turnover

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

Turnover 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 dispatch of the goods. The amount of turnover 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Depreciation is only charged once the asset is brought into use by the company.

Stocks

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

The cost valuation captures all costs associated with the acquisition of goods including freight, duty and other direct costs associated with procurement of goods.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31st March 2026 nor for the year ended 31st March 2025.

The average number of employees during the year was as follows:

31.3.26

31.3.25

Office and management

4

4

There are no staff costs incurred directly through Prolight Concepts (UK) Limited, this is covered by management charges with another group company.

31.3.26

31.3.25

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

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

31.3.26

31.3.25

£

£

Depreciation - owned assets

254,416

205,262

Loss on disposal of fixed assets

-

552

Auditors' remuneration

14,815

14,815

Auditors' remuneration for non audit work

16,054

7,314

Foreign exchange differences

21,713

(36,239

)

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.26

31.3.25

£

£

Bank interest

152

4,985

Bank loan interest

-

201,039

Other interest

-

3,043

152

209,067

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.3.26

31.3.25

£

£

Current tax:

UK corporation tax

998,580

516,193

Prior year tax provision

-

(9,818

)

Total current tax

998,580

506,375

Deferred tax

(10,769

)

192,969

Tax on profit

987,811

699,344

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.26

31.3.25

£

£

Profit before tax

3,777,236

2,627,871

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

944,309

656,968

Effects of:

Expenses not deductible for tax purposes

11,625

-

Depreciation on non qualifying assets

34,152

28,616

Prior year tax provision

-

13,760

Group relief

(2,275

)

-

Total tax charge

987,811

699,344

7.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st April 2025

7,143,077

309,770

412,160

Additions

-

7,540

20,484

At 31st March 2026

7,143,077

317,310

432,644

DEPRECIATION

At 1st April 2025

121,276

60,220

38,519

Charge for year

144,469

45,048

41,383

At 31st March 2026

265,745

105,268

79,902

NET BOOK VALUE

At 31st March 2026

6,877,332

212,042

352,742

At 31st March 2025

7,021,801

249,550

373,641

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2025

-

24,658

7,889,665

Additions

86,624

785

115,433

At 31st March 2026

86,624

25,443

8,005,098

DEPRECIATION

At 1st April 2025

-

11,921

231,936

Charge for year

16,642

6,874

254,416

At 31st March 2026

16,642

18,795

486,352

NET BOOK VALUE

At 31st March 2026

69,982

6,648

7,518,746

At 31st March 2025

-

12,737

7,657,729

8.

STOCKS

31.3.26

31.3.25

£

£

Stocks

8,197,796

7,255,528

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

1,188,365

1,331,387

Amounts owed by group undertakings

96,084

-

Other debtors

-

9,927

Directors' current accounts

17,828

30,780

Prepayments

1,007,219

87,135

2,309,496

1,459,229

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

766,672

297,233

Amounts owed to group undertakings

-

4,058,553

Tax

94,664

3,948

VAT

91,898

63,090

Other creditors

228,150

169,086

Accruals and deferred income

24,287

-

1,205,671

4,591,910

11.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

233,722

244,491

Deferred

tax

£

Balance at 1st April 2025

244,491

Utilised during year

(10,769

)

Balance at 31st March 2026

233,722

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

100

Ordinary

1

3,557,480

100