Treadlighter LTD

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Treadlighter LTD is a private company, limited by shares, incorporated in England & Wales, registered number 06320612 . The registered office is Unit 11 30b Wilds Rents, Curve Office Hub, London, Southwark, SE1 4QG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At 31 January 2026 the company had net liabilities of £115,520 and net current liabilities of £112,248. Those liabilities included a loan of £75,000 from the company's investor, Mr P Szczypulkowski, the principal of which was converted into share capital on 20 July 2026 (see Post Balance Sheet Events note).

The company meets its day-to-day working capital requirements through its bank overdraft facility with HSBC UK Bank plc, which is supported by personal guarantees given by two of the directors. Mr Szczypulkowski, who holds 60% of the company's shares, has confirmed in writing that he will make additional funding of up to £50,000 available to the company, if required, until 31 October 2027, without conditions.

The directors have considered the company's cash flow forecasts for the period of at least twelve months from the date of approval of these accounts, the facilities described above and the shareholder's confirmation, and are satisfied that the company will be able to meet its liabilities as they fall due for that period. Accordingly, the accounts have been prepared on the going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax, and comprises the supply and installation of solar photovoltaic, battery storage and electric vehicle charging systems, the servicing and maintenance of such systems, and related fees.

Turnover from installation contracts is recognised when the customer is invoiced in accordance with the payment terms of the contract (deposit, interim and completion invoices). The budgeted cost of any work remaining on contracts invoiced before the year end is accrued at the year end (see Creditors: Amounts Falling Due Within One Year note), so that the margin on a contract is recognised in the period in which it is invoiced. This is the basis on which the company's accounts have been prepared in previous years. Turnover from servicing and maintenance contracts is recognised over the period of the contract.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% straight line

2.5. Stocks and Work in Progress

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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2025: 8)

Page 3

Page 4

Treadlighter LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 February 2025	44,593
Additions	2,005
Disposals	(100 )

As at 31 January 2026	46,498

Depreciation
As at 1 February 2025	41,104
Provided during the period	3,999

As at 31 January 2026	45,103

Net Book Value
As at 31 January 2026	1,395

As at 1 February 2025	3,489

5. Stocks

	2026	2025
	£	£
Stock	8,433	7,534

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	134,651	68,581
Other debtors	21,232	11,129

	155,883	79,710

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	45,538	60,554
Bank loans and overdrafts	43,679	63,596
Other loans	75,362	-
Other taxes and social security	19,747	12,613
Other creditors	7,195	47,823
Accruals and deferred income	77,783	-
Directors' loan accounts	11,016	1,017

	280,320	185,603

Other creditors and accruals include £75,958 accrued for the budgeted cost of work remaining on contracts invoiced before the year end (see Accounting Policies Turnover), net of costs incurred on contracts not yet invoiced.

The 2025 comparatives have been re-presented so that the current portion of the bank loans (£24,418), previously included within other creditors, is shown separately; the total is unchanged.

Page 4

Page 5

Treadlighter LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	4,667	22,205

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	125	125

At 31 January 2026, the company's allotted, called up and fully paid share capital comprised 100 A ordinary shares of £1 each and 25 B ordinary shares of £1 each (2025: 100 A ordinary shares and 25 B ordinary shares).

The A ordinary shares carry the right to vote at general meetings; the B ordinary shares carry no voting rights. Both classes rank equally for dividends and on a return of capital.

The capital redemption reserve of £75 arose on the purchase and cancellation of 75 B ordinary shares in May 2021.

The changes to the share capital after the year end are described in the Post Balance Sheet Events note.

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	28,576	-
Later than one year and not later than five years	17,299	-

	45,875	-

At 31 January 2025, the company's total outstanding commitments under vehicle hire agreements amounted to £68,464.

The amounts above are the remaining payments under the primary periods of the company's four vehicle hire agreements at 31 January 2026, excluding VAT, optional secondary rentals and fees.

The agreements provide for a secondary rental period and for a rebate to the company of 95% of the proceeds of sale of each vehicle at the end of the hire, so that the company bears the residual value risk.

The directors have continued to account for the agreements as operating leases, consistently with previous years; had they been treated as finance leases, the vehicles and the related obligations would have been recognised on the balance sheet.

The company also occupies its premises under a lease at an annual rent of approximately £20,400.

11. Post Balance Sheet Events

In March 2026, under a written resolution of the shareholders authorising the allotment at par, the company allotted 1,125 ordinary shares of £1 each (700 A ordinary shares and 425 B ordinary shares) to its existing shareholders and to three employees, increasing the issued share capital to £1,250.

On 20 July 2026 the company allotted 1,875 C ordinary shares of £1 each to Mr P Szczypulkowski at £40 per share. The subscription price of £75,000 was satisfied by the release of the principal of the loan of £75,000 included in creditors at 31 January 2026 (see Loans and Borrowings note); £1,875 was credited to share capital and £73,125 to share premium.

Following the allotment the issued share capital is £3,125 (800 A ordinary, 450 B ordinary and 1,875 C ordinary shares of £1 each). Mr Szczypulkowski holds 60% of the issued shares and 75% of the voting rights, and he was appointed a director of the company on the same date. New articles of association were adopted and a new shareholders' agreement was entered into on completion.

The conversion of the loan principal into share capital increased the company's equity by £75,000 without any cash receipt.

Page 5

Page 6

Treadlighter LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

12. Related Party Transactions

At 31 January 2026 the company owed £6,016 (2025: £1,017) to Mr G A Hewitt and £5,000 (2025: £nil) to Mr P W Cross, both directors and shareholders. During the year each of them advanced £5,000 to the company.

The loans are unsecured and interest free and have no fixed date for repayment; they are shown within creditors falling due within one year as directors' loan accounts.

Mr G A Hewitt and Mr P W Cross have given personal guarantees to HSBC UK Bank plc in respect of the company's overdraft facility.

Mr P Szczypulkowski, the lender of the investor loan described in the Loans and Borrowings note, became a director and the majority shareholder of the company on 20 July 2026.

There were no other transactions with related parties during the year that require disclosure.

13. Ultimate Controlling Party

Throughout the year the company was controlled jointly by Mr G A Hewitt and Mr P W Cross, who each held 50% of the voting A ordinary shares.

Since 20 July 2026 the controlling party has been Mr P Szczypulkowski (see Events After the Balance Sheet Date note).

14. Loans and Borrowings

The bank overdraft and the bank loans are provided by HSBC UK Bank plc, which holds a fixed and floating charge over the assets of the company. The overdraft facility is also supported by personal guarantees given by Mr G A Hewitt and Mr P W Cross.

The Bounce Back Loan bears interest at 2.5% per annum. Under the agreed variation, monthly instalments of £887.85 recommenced on 15 August 2025 and the final instalment falls on 16 November 2026.

The Recovery Loan, advanced under the government Recovery Loan Scheme, bears interest at a fixed rate of 5.9% per annum and is repayable by monthly capital instalments of £1,166.67, the last of which falls in May 2027.

The loan from investor of £75,000 was advanced to the company in September and October 2025 by Mr P Szczypulkowski under a loan agreement dated 15 October 2025. The loan is unsecured and repayable on demand, subject to the standstill terms of the agreement, and carries interest at 8% per annum from 9 January 2026. Interest of £362 accrued to the balance sheet date is included in creditors.

The principal of £75,000 was converted into C ordinary shares on 20 July 2026. No waiver of the interest accrued to the date of conversion has been assumed.

Page 6

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,395		3,489

			1,395		3,489
CURRENT ASSETS
Stocks	5	8,433		7,534
Debtors	6	155,883		79,710
Cash at bank and in hand		3,756		3,697

		168,072		90,941
Creditors: Amounts Falling Due Within One Year	7	(280,320 )		(185,603 )

NET CURRENT ASSETS (LIABILITIES)			(112,248 )		(94,662 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(110,853 )		(91,173 )

Creditors: Amounts Falling Due After More Than One Year	8		(4,667 )		(22,205 )

NET LIABILITIES			(115,520 )		(113,378 )

CAPITAL AND RESERVES
Called up share capital	9		125		125
Capital redemption reserve			75		75
Profit and Loss Account			(115,720 )		(113,578 )

SHAREHOLDERS' FUNDS			(115,520)		(113,378)