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REGISTERED NUMBER: 04171865 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

AD VALOREM ACCOUNTANCY SERVICES LIMITED

AD VALOREM ACCOUNTANCY SERVICES LIMITED (REGISTERED NUMBER: 04171865)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

AD VALOREM ACCOUNTANCY SERVICES LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | N A Adams

| N T Adams

| T Foot

| A Black

| SECRETARY: | N T Adams

| REGISTERED OFFICE: | 2 Manor Farm Court

| Old Wolverton Road

| Old Wolverton

| Milton Keynes

| Buckinghamshire

| MK12 5NN

| REGISTERED NUMBER: | 04171865 (England and Wales)

| AUDITORS: | SCCA LTD T/A Stafford & Co

| Chartered Accountants & Statutory Auditors

| 3 The Studios,

| 320 Chorley Old Road

| Bolton

| Lancashire

| BL1 4JU

AD VALOREM ACCOUNTANCY SERVICES LIMITED (REGISTERED NUMBER: 04171865)

BALANCE SHEET

31 DECEMBER 2025

2025 | 2024 |

as restated |

| Notes | £ | £ | £ | £

FIXED ASSETS

Intangible assets | 4 | 655,911 |  | 731,003 |  |

Tangible assets | 5 | 163,076 |  | 143,390 |  |

818,987 |  | 874,393 |  |

CURRENT ASSETS

Stocks | 110,072 |  | 125,786 |  |

Debtors | 6 | 939,101 |  | 1,134,701 |  |

Cash at bank and in hand | 538 |  | 928 |  |

1,049,711 |  | 1,261,415 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,369,255 |  | 1,992,442 |  |

NET CURRENT LIABILITIES | (319,544 | ) | (731,027 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 499,443 |  | 143,366 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (120,799 | ) | (88,088 | ) |

PROVISIONS FOR LIABILITIES | (53,683 | ) | (41,412 | ) |

NET ASSETS | 324,961 |  | 13,866 |  |

CAPITAL AND RESERVES

Called up share capital | 383 |  | 383 |  |

Capital redemption reserve | 21 |  | 21 |  |

Retained earnings | 324,557 |  | 13,462 |  |

324,961 |  | 13,866 |  |

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 July 2026 and were signed on its behalf by:

N A Adams - Director

AD VALOREM ACCOUNTANCY SERVICES LIMITED (REGISTERED NUMBER: 04171865)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Ad Valorem Accountancy Services 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.

| These financial statements have been prepared for the fifteen months to 31 December 2024. The period has been lengthened to ensure that the period end is co-terminus with the rest of the group.

| 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.

| TURNOVER

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

| GOODWILL

| Goodwill arising on acquisition is amortised on a straight-line basis over its estimated useful economic life of 20 years. The directors have concluded that a 20-year useful economic life represents the period over which the underlying economic benefits arising from acquired businesses are expected to be realised.

| INTANGIBLE ASSETS

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Website costs are being amortised evenly over their estimated useful life of three years.

| CRM system is being amortised evenly over its estimated useful life of five years.

| TANGIBLE FIXED ASSETS

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

| Improvements to property | - | in accordance with the property

| Leasehold improvements | - | in accordance with the property

| Plant and machinery | - | 25% on cost

| Fixtures and fittings | - | 10% on cost

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 25% on cost

| STOCKS

| Work in progress is valued at the lower of cost and net realisable value.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

AD VALOREM ACCOUNTANCY SERVICES LIMITED (REGISTERED NUMBER: 04171865)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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

| 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 71 (2024 - 61 ) .

4. | INTANGIBLE FIXED ASSETS

Website |

Goodwill | costs | CRM system | Totals |

| £ | £ | £ | £

| COST

| At 1 January 2025 | 1,264,465 |  | 18,482 |  | 230,987 |  | 1,513,934 |  |

| Additions | - |  | 23,200 |  | - |  | 23,200 |  |

| At 31 December 2025 | 1,264,465 |  | 41,682 |  | 230,987 |  | 1,537,134 |  |

| AMORTISATION

| At 1 January 2025 | 614,876 |  | 17,913 |  | 150,142 |  | 782,931 |  |

| Amortisation for year | 46,437 |  | 5,658 |  | 46,197 |  | 98,292 |  |

| At 31 December 2025 | 661,313 |  | 23,571 |  | 196,339 |  | 881,223 |  |

| NET BOOK VALUE

| At 31 December 2025 | 603,152 |  | 18,111 |  | 34,648 |  | 655,911 |  |

| At 31 December 2024 | 649,589 |  | 569 |  | 80,845 |  | 731,003 |  |

AD VALOREM ACCOUNTANCY SERVICES LIMITED (REGISTERED NUMBER: 04171865)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | INTANGIBLE FIXED ASSETS - continued

| Prior Year Adjustment

| The adjustment relates to a reassessment of the useful economic life of goodwill. The directors determined that goodwill should be amortised over 20 years rather than 10 years, resulting in a reduction in the annual amortisation charge.

| Following a detailed review, the directors concluded that the previous estimate of a 10-year useful economic life did not adequately reflect the expected period over which the acquired business would contribute economic benefits to the company. The revised 20-year period is considered a more appropriate estimate based on the nature of the business and the expected longevity of the benefits arising from the acquisition.

| As a result of applying the revised amortisation period, accumulated amortisation has been reduced and the carrying value of goodwill has increased by £302,365 as at 31 December 2024.

| Retained earnings at 31 December 2024 have increased by £302,365, reflecting the reduction in goodwill amortisation previously charged.

| Profit for the year ended 31 December 2024 has increased by £302,365 due to the lower amortisation expense arising from the revised useful economic life of goodwill.

5. | TANGIBLE FIXED ASSETS

Improvements | Leasehold | Plant and |

to property | improvements | machinery |

| £ | £ | £

| COST

| At 1 January 2025 | 31,172 |  | 7,859 |  | 3,103 |  |

| Additions | - |  | - |  | 667 |  |

| Disposals | - |  | - |  | - |  |

| At 31 December 2025 | 31,172 |  | 7,859 |  | 3,770 |  |

| DEPRECIATION

| At 1 January 2025 | 18,555 |  | 4,191 |  | 2,864 |  |

| Charge for year | 3,117 |  | 786 |  | 276 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 December 2025 | 21,672 |  | 4,977 |  | 3,140 |  |

| NET BOOK VALUE

| At 31 December 2025 | 9,500 |  | 2,882 |  | 630 |  |

| At 31 December 2024 | 12,617 |  | 3,668 |  | 239 |  |

AD VALOREM ACCOUNTANCY SERVICES LIMITED (REGISTERED NUMBER: 04171865)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

5. | TANGIBLE FIXED ASSETS - continued

Fixtures |

and | Motor | Computer |

fittings | vehicles | equipment | Totals |

| £ | £ | £ | £

| COST

| At 1 January 2025 | 148,501 |  | 52,990 |  | 125,996 |  | 369,621 |  |

| Additions | 675 |  | 73,555 |  | 779 |  | 75,676 |  |

| Disposals | - |  | (52,990 | ) | - |  | (52,990 | ) |

| At 31 December 2025 | 149,176 |  | 73,555 |  | 126,775 |  | 392,307 |  |

| DEPRECIATION

| At 1 January 2025 | 58,125 |  | 32,144 |  | 110,352 |  | 226,231 |  |

| Charge for year | 14,904 |  | 12,003 |  | 8,399 |  | 39,485 |  |

| Eliminated on disposal | - |  | (36,485 | ) | - |  | (36,485 | ) |

| At 31 December 2025 | 73,029 |  | 7,662 |  | 118,751 |  | 229,231 |  |

| NET BOOK VALUE

| At 31 December 2025 | 76,147 |  | 65,893 |  | 8,024 |  | 163,076 |  |

| At 31 December 2024 | 90,376 |  | 20,846 |  | 15,644 |  | 143,390 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

as restated |

| £ | £

| Trade debtors | 285,942 |  | 300,976 |  |

| Amounts owed by group undertakings | 375,654 |  | - |  |

| Amounts owed by associates | 11,041 |  | - |  |

| Other debtors | 266,464 |  | 833,725 |  |

939,101 |  | 1,134,701 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

as restated |

| £ | £

| Bank loans and overdrafts | 110,399 |  | 95,339 |  |

| Hire purchase contracts | 9,850 |  | - |  |

| Trade creditors | 234,261 |  | 120,173 |  |

| Amounts owed to group undertakings | 455,857 |  | 1,254,738 |  |

| Taxation and social security | 382,255 |  | 249,172 |  |

| Other creditors | 176,633 |  | 273,020 |  |

1,369,255 |  | 1,992,442 |  |

AD VALOREM ACCOUNTANCY SERVICES LIMITED (REGISTERED NUMBER: 04171865)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

as restated |

| £ | £

| Hire purchase contracts | 46,909 |  | - |  |

| Other creditors | 73,890 |  | 88,088 |  |

120,799 |  | 88,088 |  |

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

| The Auditors' Report was unqualified.

| Robert Stafford BA(Hons) FCA (Senior Statutory Auditor)

| for and on behalf of SCCA LTD T/A Stafford & Co

10. | PARENT COMPANY

| The ultimate controlling party is ETL International AG, registered in Germany.

| ETL International AG

| Steinstrasse 41

| Essen

| Germany 45128