REGISTERED NUMBER: 04626905 (England and Wales)

BTL Industries Limited

Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Z Pistak

T Schwarz

REGISTERED OFFICE:

161 Cleveland Way

Stevenage

Hertfordshire

SG1 6BU

REGISTERED NUMBER:

04626905 (England and Wales)

AUDITORS:

Independent Auditors LLP

Chartered Accountants & Statutory

Auditor

Emstrey House North

Shrewsbury Business Park

Shrewsbury

SY2 6LG

ACCOUNTANTS:

Slaters & Co Accountants

Lymore Villa

162a London Road

Chesterton

Newcastle

Staffordshire

FIXED ASSETS

Intangible assets

4

29,889

34,837

Tangible assets

5

150,068

208,102

179,957

242,939

CURRENT ASSETS

Stocks

2,528,514

3,154,572

Debtors

6

5,354,403

4,834,592

Cash at bank and in hand

1,041,670

625,288

8,924,587

8,614,452

CREDITORS

Amounts falling due within one year

7

718,736

580,215

NET CURRENT ASSETS

8,205,851

8,034,237

TOTAL ASSETS LESS CURRENT LIABILITIES

8,385,808

8,277,176

CREDITORS

Amounts falling due after more than one year

8

(16,225

)

(31,624

)

PROVISIONS FOR LIABILITIES

-

(2,132

)

NET ASSETS

8,369,583

8,243,420

CAPITAL AND RESERVES

Called up share capital

10

876,754

876,754

Shareholder loan

6,736,275

6,736,275

Retained earnings

756,554

630,391

SHAREHOLDERS' FUNDS

8,369,583

8,243,420

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 6 October 2026 and were signed on its behalf by:

Z Pistak - Director

1.	STATUTORY INFORMATION

BTL Industries 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible fixed assets

Intangible fixed assets are amortised on a straight line basis over their useful lives. The useful lives of intangible fixed assets are as follows:

Patents and licences - 10 years

Computer software - 4 years

Tangible fixed assets

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

Leasehold improvements

-

in accordance with the lease

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes a 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 intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

49,315

Additions

9,713

At 31 December 2025

59,028

AMORTISATION

At 1 January 2025

14,478

Charge for year

14,661

At 31 December 2025

29,139

NET BOOK VALUE

At 31 December 2025

29,889

At 31 December 2024

34,837

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 January 2025

68,530

45,120

43,020

Additions

-

2,979

194

Disposals

-

(484

)

-

At 31 December 2025

68,530

47,615

43,214

DEPRECIATION

At 1 January 2025

27,412

22,304

21,914

Charge for year

13,706

11,904

8,438

At 31 December 2025

41,118

34,208

30,352

NET BOOK VALUE

At 31 December 2025

27,412

13,407

12,862

At 31 December 2024

41,118

22,816

21,106

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

215,131

40,653

412,454

Additions

-

11,366

14,539

Disposals

-

-

(484

)

At 31 December 2025

215,131

52,019

426,509

DEPRECIATION

At 1 January 2025

110,229

22,493

204,352

Charge for year

26,226

11,815

72,089

At 31 December 2025

136,455

34,308

276,441

NET BOOK VALUE

At 31 December 2025

78,676

17,711

150,068

At 31 December 2024

104,902

18,160

208,102

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

1,585,906

2,603,895

Amounts owed by group undertakings

-

2,087,808

Other debtors

1,624,645

142,889

3,210,551

4,834,592

Amounts falling due after more than one year:

Trade debtors

2,143,852

-

Aggregate amounts

5,354,403

4,834,592

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

4,318

12,550

Trade creditors

125,021

30,768

Taxation and social security

277,562

154,588

Other creditors

311,835

382,309

718,736

580,215

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

16,225

31,624

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

20,543

44,174

The liabilities are secured on the assets they relate to.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

876,754

Ordinary

£1

876,754

876,754

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

Included within capital and reserves is a shareholder loan of £6,736,275 as of 31st December 2025. In accordance with FRS 102 any liabilities due should be translated at the year end exchange rate of the functional currency. Consequently, creditors are understated by £7,062,147, shareholder loan reserve is overstated by £6,736,275, loss on exchange for the year is understated and profit and loss reserves are overstated by £325,872.

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.

Jonathon Dale BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Independent Auditors LLP

12.	OPERATING LEASE COMMITMENTS

The total future minimum lease payments under non-cancellable operating leases are payable as follows:

2025

2024

£

£

Payable within one year

112,060

47,500

Payable after one year but within five years

145,330

126,666

257,390

174,166

13.	ULTIMATE CONTROLLING PARTY

The parent company is BTL Holdings Limited, incorporated in Cyprus. The registered office is 38 Spyrou Kyprianou, Kato Polemidia, 4154, Cyprus.

The ultimate holding company is BTL Holdings Limited, incorporated in Malaysia.