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REGISTERED NUMBER: 06699897 (England and Wales)

| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31ST MARCH 2025 |

| FOR |

| CABLE SERVICES ENTERPRISES LIMITED |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 7 |

| Consolidated Statement of Comprehensive Income | 11 |

| Consolidated Balance Sheet | 12 |

| Company Balance Sheet | 13 |

| Consolidated Statement of Changes in Equity | 14 |

| Company Statement of Changes in Equity | 15 |

| Consolidated Cash Flow Statement | 16 |

| Notes to the Consolidated Cash Flow Statement | 17 |

| Notes to the Consolidated Financial Statements | 18 |

| CABLE SERVICES ENTERPRISES LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

| DIRECTORS: | J M Williams

| J W Bostock

| REGISTERED OFFICE: | Bridge House

| Bridge Road

| Wrexham Industrial Estate

| Wrexham

| LL13 9PS

| REGISTERED NUMBER: | 06699897 (England and Wales)

| AUDITORS: | M. D. Coxey and Co. Limited

| Chartered Accountants

| and Statutory Auditors

| 25 Grosvenor Road

| Wrexham

| LL11 1BT

| BANKERS: | Barclays Bank plc

| 51-52 Hope Street

| Wrexham

| LL11 1BB

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31ST MARCH 2025

The directors present their strategic report of the company and the group for the year ended 31st March 2025.

REVIEW OF BUSINESS

A challenging, yet successful, year for the business, with various resource pressures. Our supply chain has shown price pressure and scarcity of some resource, during the year. This is mitigated by constantly monitoring through regular review meetings with key parties and adjusting inventory levels when needed.

KEY PERFORMANCE INDICATORS

The directors believe that the key performance indicators are those that measure the financial performance of the group. These are turnover, gross profit, overhead levels and cash flow.

Group turnover has decreased on the previous year by 2.5%. The gross profit margin has increased from 23.9% in the previous year to 26.1% in the current year.

Profit before tax has increased this year by 2.5%.

Non-financial performance indicators are also key to management's holistic approach to all stakeholders. These include customer satisfaction, staff turnover, manufacturing efficiency, hygiene, health and safety and environmental impact.

The average number of employees has increased from 71 to 72.

PRINCIPAL RISKS AND UNCERTAINTIES

The group is subject to a number of potential risks and uncertainties:

The group operates in a highly competitive and busy specialist sector, particularly with regard to product range, price, service and availability. Failure to pay attention to any of these elements could result in failing to meet customer expectations, potentially reduced sales and excessive stock holdings. To mitigate this there is a considerable focus on service, systems and controls, the monitoring of competitor activities and the constant analysis of the company performance and procedures. The management team regularly review performance and forecasts to ensure targets are met. The group's cash flows are regularly monitored, and its budget and forecasts reviewed by management. To meet its obligations the group regularly monitors its liquidity, having regard to its working capital requirements, banking facilities and other financing.

Financial risk management:

Financial risk management is considered regularly by the management team and the directors. Primary risks to which the group could be exposed are interest rate risk, liquidity risk and credit risk.

Interest rate risk:

The group has no external debt, therefore any fluctuations in interest rate do not have a significant effect on the group.

Liquidity risk:

The group ensures that there are sufficient funds available to meet the requirements of its on-going operations. The group has a significant cash balance of £24.9m at the year-end therefore there is sufficient liquidity headroom.

Credit risk:

Credit risk principally arises on trade receivables and the group places a lot of emphasis on a stringent credit control policy. Management information is produced and reviewed by directors comparing it to both budget and previous year to assess performance and identify changing market conditions. Robust controls, policies and procedures are in place to mitigate risk.

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31ST MARCH 2025

SECTION 172(1) STATEMENT

The directors have a duty to promote the success of the group for the benefit of all key stakeholders.

Considering the potential consequences that a decision may have on employees, suppliers, customers and other related parties is paramount. Acting with integrity and promoting high standards across the business reflects positively on the already high regard in which we are held. The group is aware of its responsibility to the local community and the environment, raising funds for local charities continues to be a focus of ours. Elsewhere the group is looking to find ways of reducing energy consumption and its environmental impact across our operations. Fundamental to the business is our ultimate aim of increasing the value of the group and the welfare of our colleagues through building lasting relationships with our partners and creating opportunities for employees to achieve their potential.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Suppliers

The business extends the expectation of high standards of commercial conduct into the supply chain. Supplier engagement is sought and maintained through regular review processes.

Customers

Customer feedback and insights are critical in shaping how the business the existing product and services offering. This is gained through customer satisfaction survey and input from business account managers and our customer service representatives.

Employees

Attracting and retaining talented and diverse employees is critical to the long term success of the business. The business seeks to create a respectful, rewarding, diverse and inclusive work environment. This starts with the concept of a growth mindset and a belief that everyone can grow and develop. The senior management team use feedback from regular reviews to further improve areas of strength and to address opportunities for improvement.

Environment

The directors understand and embrace the need to reduce the impact of the business on the environment. We are committed to reducing our carbon footprint and this will be achieved engaging with all key partners to understand what needs to be done to achieve positive outcomes.

ON BEHALF OF THE BOARD:

J M Williams - Director

6th July 2026

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2025

The directors present their report with the financial statements of the company and the group for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of a holding company of a group that provides wholesale distribution of power cables, accessories and ancillary electrical equipment.

DIVIDENDS

No dividends will be distributed for the year ended 31st March 2025.

FUTURE DEVELOPMENTS

We continue to focus on being increasingly competitive with our marketing activity to further grow brand awareness, taking the business to new heights by building on the success of previous years.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1st April 2024 to the date of this report.

The beneficial interests of the directors holding office at 31st March 2025 in the shares of the company, according to the register of directors' interests, were as follows:

| 31.3.25 |  | 1.4.24

Ordinary shares of £1 each

J M Williams | 8,539 |  | 8,539 |  |

J W Bostock | 1,970 |  | 1,970 |  |

These directors did not hold any non-beneficial interests in the shares of the company.

FINANCIAL INSTRUMENTS

The group's operations expose it to a variety of financial risks including credit risk and price risk. The group does not consider cash flow and liquidity to be a risk.

The group does not have material exposure in any of the areas identified above.

The group's principal financial instruments comprise sterling cash and bank deposit, together with trade debtors and trade creditors that arise directly from operations.

POLITICAL DONATIONS AND EXPENDITURE

Charitable donations for the year amounted to £80,000 (2024: £80,000). There were no political donations.

EQUAL OPPORTUNITIES AND DIVERSITY

The group values diversity and sees equal opportunity as making the best use of the talents of all employees and potential employees. As such it is group policy to give full and fair consideration to applications for employment by disabled persons, bearing in mind the abilities of the applicant concerned. The group will not tolerate discrimination in the workplace and aims to ensure that each employee feels valued, and has the opportunity to contribute fully to the success of the group.

The group's policy on training and promotion is to fit the qualifications and potential of each member of its staff to the appropriate job and career path within the business.

GEOGRAPHICAL AREA

No branches of the group exist outside the United Kingdom.

POST BALANCE SHEET EVENTS

There have been no events since the year end which would materially affect the financial statements.

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2025

ENGAGEMENT WITH EMPLOYEES

The group places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on the various factors affecting the performance of the group. This is achieved through formal and informal meetings and regular internal communications.

STREAMLINED ENERGY AND CARBON REPORT

Methodology

There is no prescribed reporting methodology under the legislation, although for effective emissions management and transparency the group has adopted accepted methods set out in 'GHG Reporting Protocol - A Corporate Accounting and Reporting Standard' and Defra's 'Environmental Reporting guidelines: including Streamlined Energy and Carbon Reporting requirements.

During the financial year 2024/25, the group continued a number of energy efficiency measures, including:

- "Energy Action Plan" at all branches - this required branch managers to implement energy saving initiatives (for example: turn down thermostats, switch off campaign etc).

- All forklift trucks were changed over from diesel/gas powered to electric - this allowed branches to keep doors closed during winter months (due to no exhaust fumes) which in turn reduced energy required for heating (plus associated costs).

- Electric vehicle charge points rolled out at all branches.

- All company cars are now electric or hybrid.

Under the Companies (Directors' Report) (Energy and Carbon Report) Regulations 2018, the group is mandated to disclose its UK annual energy use and associated greenhouse gas emissions. The group qualifies for this because it is a private unquoted UK group with an annual turnover of more than £36M.

Specifically, the group is required to report, as a minimum, energy use and associated GHG emissions relating to natural gas, electricity and transport fuel, as well as an intensity ratio and narrative on energy efficiency action taken over the year.

The group is disclosing its SECR for FY2024/25 (as below).

| Energy (KWH) |  | GHG tc02e |  | Energy Intensity ratio (per £M turnover) |  | GHG Intensity ratio (per £M turn)over |

Scope 1 gas & Gas oil combustion (for heating of production sites and offices) Diesel (for company owned/leased vehicles) |  | 259,627 |  | 60.61 |  | 5,420 |  | 1.27 |

Scope 2 Grid electricity consumed at production sites/offices. |  | 272,774 |  | 55.90 |  | 5,695 |  | 1.17 |

Relevant Scope 3 Grey Fleet (For fuel burned in business travel where vehicle involved is a rental or belongs to employees who buy the fuel. |  | 46,247 |  | 15.35 |  | 965 |  | 0.32 |

All scopes |  | 578,648 |  | 131.86 |  | 12,080 |  | 2.75 |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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), 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, M. D. Coxey and Co. Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J M Williams - Director

6th July 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CABLE SERVICES ENTERPRISES LIMITED

Opinion

We have audited the financial statements of Cable Services Enterprises Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31st March 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CABLE SERVICES ENTERPRISES LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company 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 six, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CABLE SERVICES ENTERPRISES LIMITED

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CABLE SERVICES ENTERPRISES LIMITED

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.

Anthony Lewis (Senior Statutory Auditor)

for and on behalf of M. D. Coxey and Co. Limited

Chartered Accountants

and Statutory Auditors

25 Grosvenor Road

Wrexham

LL11 1BT

6th July 2026

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

CONSOLIDATED

STATEMENT OF COMPREHENSIVE

INCOME

FOR THE YEAR ENDED 31ST MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

TURNOVER | 3 | 47,897,905 |  | 49,105,251 |  |

Cost of sales | 35,410,251 |  | 37,371,232 |  |

GROSS PROFIT | 12,487,654 |  | 11,734,019 |  |

Administrative expenses | 8,302,351 |  | 7,489,333 |  |

OPERATING PROFIT | 5 | 4,185,303 |  | 4,244,686 |  |

Interest receivable and similar income | 6 | 923,875 |  | 740,498 |  |

PROFIT BEFORE TAXATION | 5,109,178 |  | 4,985,184 |  |

Tax on profit | 7 | 1,404,037 |  | 1,270,234 |  |

PROFIT FOR THE FINANCIAL YEAR | 3,705,141 |  | 3,714,950 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 3,705,141 |  | 3,714,950 |  |

Profit attributable to:

Owners of the parent | 3,705,141 |  | 3,714,950 |  |

Total comprehensive income attributable to:

Owners of the parent | 3,705,141 |  | 3,714,950 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

CONSOLIDATED BALANCE SHEET

31ST MARCH 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | 2,328,170 |  | 2,295,285 |  |

Investments | 11 | - |  | - |  |

2,328,170 |  | 2,295,285 |  |

CURRENT ASSETS

Stocks | 12 | 7,650,464 |  | 7,790,822 |  |

Debtors | 13 | 8,814,504 |  | 9,832,398 |  |

Cash at bank and in hand | 24,860,316 |  | 20,494,189 |  |

41,325,284 |  | 38,117,409 |  |

CREDITORS

Amounts falling due within one year | 14 | 10,938,476 |  | 11,378,217 |  |

NET CURRENT ASSETS | 30,386,808 |  | 26,739,192 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 32,714,978 |  | 29,034,477 |  |

PROVISIONS FOR LIABILITIES | 17 | 285,078 |  | 309,718 |  |

NET ASSETS | 32,429,900 |  | 28,724,759 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 13,137 |  | 13,137 |  |

Retained earnings | 19 | 32,416,763 |  | 28,711,622 |  |

SHAREHOLDERS' FUNDS | 32,429,900 |  | 28,724,759 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 6th July 2026 and were signed on its behalf by:

J M Williams - Director

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

COMPANY BALANCE SHEET

31ST MARCH 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | 1,022,009 |  | 1,039,237 |  |

Investments | 11 | 4,517,544 |  | 4,517,544 |  |

5,539,553 |  | 5,556,781 |  |

CURRENT ASSETS

Debtors | 13 | 416,469 |  | 350,283 |  |

CREDITORS

Amounts falling due within one year | 14 | 5,368,279 |  | 5,367,631 |  |

NET CURRENT LIABILITIES | (4,951,810 | ) | (5,017,348 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 587,743 |  | 539,433 |  |

PROVISIONS FOR LIABILITIES | 17 | 110,500 |  | 110,655 |  |

NET ASSETS | 477,243 |  | 428,778 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 13,137 |  | 13,137 |  |

Retained earnings | 19 | 464,106 |  | 415,641 |  |

SHAREHOLDERS' FUNDS | 477,243 |  | 428,778 |  |

Company's profit for the financial year | 48,465 |  | 48,450 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 6th July 2026 and were signed on its behalf by:

J M Williams - Director

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31ST MARCH 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1st April 2023 | 13,137 |  | 24,996,672 |  | 25,009,809 |  |

Changes in equity

Total comprehensive income | - |  | 3,714,950 |  | 3,714,950 |  |

Balance at 31st March 2024 | 13,137 |  | 28,711,622 |  | 28,724,759 |  |

Changes in equity

Total comprehensive income | - |  | 3,705,141 |  | 3,705,141 |  |

Balance at 31st March 2025 | 13,137 |  | 32,416,763 |  | 32,429,900 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31ST MARCH 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1st April 2023 | 13,137 |  | 367,191 |  | 380,328 |  |

Changes in equity

Total comprehensive income | - |  | 48,450 |  | 48,450 |  |

Balance at 31st March 2024 | 13,137 |  | 415,641 |  | 428,778 |  |

Changes in equity

Total comprehensive income | - |  | 48,465 |  | 48,465 |  |

Balance at 31st March 2025 | 13,137 |  | 464,106 |  | 477,243 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 4,986,698 |  | 4,061,120 |  |

Tax paid | (1,169,409 | ) | (819,071 | ) |

Net cash from operating activities | 3,817,289 |  | 3,242,049 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (375,037 | ) | (106,392 | ) |

Interest received | 923,875 |  | 740,498 |  |

Net cash from investing activities | 548,838 |  | 634,106 |  |

Increase in cash and cash equivalents | 4,366,127 |  | 3,876,155 |  |

Cash and cash equivalents at beginning of year | 2 | 20,494,189 |  | 16,618,034 |  |

Cash and cash equivalents at end of year | 2 | 24,860,316 |  | 20,494,189 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MARCH 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before taxation | 5,109,178 |  | 4,985,184 |  |

| Depreciation charges | 342,152 |  | 327,382 |  |

| Finance income | (923,875 | ) | (740,498 | ) |

4,527,455 |  | 4,572,068 |  |

| Decrease in stocks | 140,358 |  | 370,543 |  |

| Decrease/(increase) in trade and other debtors | 1,017,894 |  | (1,458,551 | ) |

| (Decrease)/increase in trade and other creditors | (699,009 | ) | 577,060 |  |

| Cash generated from operations | 4,986,698 |  | 4,061,120 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31st March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 24,860,316 |  | 20,494,189 |  |

| Year ended 31st March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 20,494,189 |  | 16,618,034 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 20,494,189 |  | 4,366,127 |  | 24,860,316 |  |

20,494,189 |  | 4,366,127 |  | 24,860,316 |  |

| Debt

| Debts falling due within 1 year | (2,564,306 | ) | - |  | (2,564,306 | ) |

(2,564,306 | ) | - |  | (2,564,306 | ) |

| Total | 17,929,883 |  | 4,366,127 |  | 22,296,010 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

1. | STATUTORY INFORMATION

| Cable Services Enterprises 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 General Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Basis of consolidation

| The group financial statements consolidate the financial statements of Cable Services Enterprises Limited and its subsidiary undertakings. The results of subsidiary undertakings acquired are consolidated from the date of acquisition using the acquisition method of accounting. Uniform accounting policies are applied across the group. Intra-group transactions have been eliminated.

| Significant judgements and estimates

| In the application of the group’s accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

| - Estimated useful lives and residual values of fixed assets:

| The carrying value of fixed assets are reviewed each year end for indicators of impairment triggers. If such triggers exist, management would be required to carry out a formal impairment review using a discounted cash flow model to determine their value in use on a cash-generating unit basis. The value in use calculation requires management to estimate the future cash flows expected to arise from the cash-generating unit and a sustainable discount rate in order to calculate the present value.

| Depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

| - Estimated write down of stock to net realisable value:

| Stock valuation has been based on an estimated useful life and residual value deemed appropriate by the directors. The estimated write down of stock to net realisable value is reviewed annually and revised as appropriate by the directors.

| - Revenue recognition:

| In making its judgement, management consider the detailed criteria for the recognition of revenue as set out within Section 23 of FRS 102. The directors are satisfied that the recognition point being typically when the service has taken place is correct.

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

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

| Sales of goods

| The group recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when the risks and rewards of ownership have passed to the customer. This typically happens when goods are delivered and legal title has passed.

| 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.

| 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

| Fixtures and fittings | - | 20% on cost and 10% - 20% on cost

| Motor vehicles | - | 20% on cost

| No depreciation will be provided in respect of freehold land.

| 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

| Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument.

| Cash and cash equivalents:

| These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.

| Debtors:

| Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

| Trade creditors:

| Trade creditors are not interest bearing and are stated at their nominal value.

| Intra-group balances (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| 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.

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

| During the year the group exported 2.31% of its turnover (2024: 2.15%).

4. | EMPLOYEES AND DIRECTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Wages and salaries | 3,367,717 |  | 3,144,907 |  |

| Social security costs | 397,687 |  | 359,318 |  |

| Other pension costs | 31,278 |  | 66,167 |  |

3,796,682 |  | 3,570,392 |  |

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

| 31.3.25 |  | 31.3.24

| Directors | 2 |  | 2 |  |

| Directors of subsidiaries | 4 |  | 4 |  |

| Management | 7 |  | 6 |  |

| Sales & administration | 59 |  | 59 |  |

72 |  | 71 |  |

| 31.3.25 |  | 31.3.24

£ | £ |

| Directors' remuneration | 1,261,972 |  | 1,283,105 |  |

| Directors' pension contributions to money purchase schemes | 24,253 |  | 22,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 5 |  | 5 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

4. | EMPLOYEES AND DIRECTORS - continued

| Information regarding the highest paid director is as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Emoluments etc | 469,683 |  | 474,840 |  |

| Pension contributions to money purchase schemes | 9,370 |  | 8,500 |  |

| Directors remuneration above includes directors of the group and subsidiaries.

| Key management are also the directors.

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.3.25 |  | 31.3.24

£ | £ |

| Depreciation - owned assets | 342,152 |  | 327,383 |  |

| Foreign exchange differences | 9,171 |  | - |  |

| Auditor's group remuneration | 34,000 |  | 32,775 |  |

| Auditor's remuneration: group non audit work | 2,200 |  | 1,220 |  |

| Operating lease rentals: plant & machinery | 232,301 |  | 192,053 |  |

| Operating lease rentals: other assets | 489,585 |  | 434,560 |  |

6. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 31.3.25 |  | 31.3.24

£ | £ |

| Deposit account interest | 923,832 |  | 726,261 |  |

| Other interest | 43 |  | 14,237 |  |

923,875 |  | 740,498 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Current tax:

| UK corporation tax | 1,428,677 |  | 1,298,454 |  |

| Deferred tax | (24,640 | ) | (28,220 | ) |

| Tax on profit | 1,404,037 |  | 1,270,234 |  |

| UK corporation tax has been charged at 25 % (2024 - 25 %).

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

7. | TAXATION - continued

| 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:

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before tax | 5,109,178 |  | 4,985,184 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 1,277,295 |  | 1,246,296 |  |

| Effects of:

| Permanent timing differences | 126,742 |  | 24,049 |  |

| Marginal relief | - |  | (111 | ) |

| Total tax charge | 1,404,037 |  | 1,270,234 |  |

8. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

| As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.

9. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 1,049,436 |  |

| AMORTISATION

| At 1st April 2024

| and 31st March 2025 | 1,049,436 |  |

| NET BOOK VALUE

| At 31st March 2025 | - |  |

| At 31st March 2024 | - |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

10. | TANGIBLE FIXED ASSETS

| Group

| Fixtures |

| Freehold |  | and |  | Motor |

| property |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1st April 2024 | 1,191,418 |  | 2,404,673 |  | 404,654 |  | 4,000,745 |  |

| Additions | - |  | 375,037 |  | - |  | 375,037 |  |

| Disposals | - |  | (158,762 | ) | - |  | (158,762 | ) |

| At 31st March 2025 | 1,191,418 |  | 2,620,948 |  | 404,654 |  | 4,217,020 |  |

| DEPRECIATION

| At 1st April 2024 | 152,181 |  | 1,257,026 |  | 296,253 |  | 1,705,460 |  |

| Charge for year | 17,228 |  | 289,825 |  | 35,099 |  | 342,152 |  |

| Eliminated on disposal | - |  | (158,762 | ) | - |  | (158,762 | ) |

| At 31st March 2025 | 169,409 |  | 1,388,089 |  | 331,352 |  | 1,888,850 |  |

| NET BOOK VALUE

| At 31st March 2025 | 1,022,009 |  | 1,232,859 |  | 73,302 |  | 2,328,170 |  |

| At 31st March 2024 | 1,039,237 |  | 1,147,647 |  | 108,401 |  | 2,295,285 |  |

| Included in cost of land and buildings is freehold land of £330,000 (2024 - £330,000) which is not depreciated.

| Company

| Freehold

| property

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 1,191,418 |  |

| DEPRECIATION

| At 1st April 2024 | 152,181 |  |

| Charge for year | 17,228 |  |

| At 31st March 2025 | 169,409 |  |

| NET BOOK VALUE

| At 31st March 2025 | 1,022,009 |  |

| At 31st March 2024 | 1,039,237 |  |

| Included in cost of land and buildings is freehold land of £ 330,000 (2024 - £ 330,000 ) which is not depreciated.

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

11. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 4,517,544 |  |

| NET BOOK VALUE

| At 31st March 2025 | 4,517,544 |  |

| At 31st March 2024 | 4,517,544 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiary

| Cable Services Holdings Limited

| Registered office: Bridge House, Bridge Road, Wrexham Industrial Estate, Wrexham, LL13 9PS.

| Nature of business: Coordination and administration

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | 6,740,853 |  | 6,732,727 |  |

| Profit for the year | 8,126 |  | 35,917 |  |

12. | STOCKS

| Group |

| 31.3.25 |  | 31.3.24 |

£ | £ |

| Stocks | 7,650,464 |  | 7,790,822 |  |

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

| Group |  | Company |

| 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

£ | £ | £ | £ |

| Trade debtors | 8,372,386 |  | 9,248,692 |  | - |  | - |  |

| Other debtors | 442,118 |  | 583,706 |  | 416,469 |  | 350,283 |  |

8,814,504 |  | 9,832,398 |  | 416,469 |  | 350,283 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

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

| Group |  | Company |

| 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

£ | £ | £ | £ |

| Other loans (see note 15) | 2,564,306 |  | 2,564,306 |  | 2,564,306 |  | 2,564,306 |  |

| Trade creditors | 5,859,020 |  | 6,281,926 |  | - |  | - |  |

| Corporation tax | 615,923 |  | 356,655 |  | 17,943 |  | 17,295 |  |

| Other creditors | 1,899,227 |  | 2,175,330 |  | 2,786,030 |  | 2,786,030 |  |

10,938,476 |  | 11,378,217 |  | 5,368,279 |  | 5,367,631 |  |

15. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

| 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

£ | £ | £ | £ |

| Amounts falling due within one year or on | demand: |

| Other loans | 2,564,306 |  | 2,564,306 |  | 2,564,306 |  | 2,564,306 |  |

16. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

| 31.3.25 |  | 31.3.24

£ | £ |

| Within one year | 646,922 |  | 408,401 |  |

| Between one and five years | 739,547 |  | 499,960 |  |

1,386,469 |  | 908,361 |  |

17. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

| 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

£ | £ | £ | £ |

| Deferred tax

| Accelerated capital allowances | 287,348 |  | 309,718 |  | 110,500 |  | 110,655 |  |

| Tax losses carried forward | (2,270 | ) | - |  | - |  | - |  |

285,078 |  | 309,718 |  | 110,500 |  | 110,655 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

17. | PROVISIONS FOR LIABILITIES - continued

| Group

| Deferred |

| tax |

£ |

| Balance at 1st April 2024 | 309,718 |  |

| Movement in the year due to: |

| changes in tax losses | (22,370 | ) |

| changes in tax allowances | (2,270 | ) |

| changes in tax rates |

| Balance at 31st March 2025 | 285,078 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1st April 2024 | 110,655 |  |

| Movement in the year due to: |

| changes in tax rates |

| changes in tax allowances | (155 | ) |

| Balance at 31st March 2025 | 110,500 |  |

18. | CALLED UP SHARE CAPITAL

| Allotted and issued:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 13,137 | Ordinary | £1 | 13,137 |  | 13,137 |  |

19. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1st April 2024 | 28,711,622 |  |

| Profit for the year | 3,705,141 |  |

| At 31st March 2025 | 32,416,763 |  |

| Company

| Retained

| earnings

£ |

| At 1st April 2024 | 415,641 |  |

| Profit for the year | 48,465 |  |

| At 31st March 2025 | 464,106 |  |

CABLE SERVICES ENTERPRISES LIMITED (REGISTERED NUMBER: 06699897) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

20. | CAPITAL COMMITMENTS

| 31.3.25 |  | 31.3.24

£ | £ |

| Contracted but not provided for in the

| financial statements | - |  | - |  |

21. | RELATED PARTY DISCLOSURES

| The company trades from property owned by a director of the company. The rental charge in the accounts is £69,000 (2024: £69,000).

| The Company has loan notes held by J Williams, a director of the group. At the year end the balance was £2,564,306 shown under other loans: amounts falling due under one year. (2024: £2,564,306, shown under other loans: amounts falling due in more than one year).

22. | ULTIMATE CONTROLLING PARTY

| The company and the Cable Services Group are under the ultimate control of J M Williams, a director of all of the Cable Services Group of companies.