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REGISTERED NUMBER: 04126555 (England and Wales)

| Financial Statements |

| for the Year Ended 28 February 2023 |

| for |

| Naylor Technical Solutions Ltd. |

| Naylor Technical Solutions Ltd. (Registered number: 04126555) |

Contents of the Financial Statements

for the Year Ended 28 February 2023

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Naylor Technical Solutions Ltd. |

Company Information

for the Year Ended 28 February 2023

| DIRECTORS: | C M Simpson

| E G Naylor

| R Hadley

| SECRETARY: | R Hadley

| REGISTERED OFFICE: | Naylor House Valley Road

| Wombwell

| Barnsley

| S73 0BS

| REGISTERED NUMBER: | 04126555 (England and Wales)

| AUDITORS: | Wright Vigar Limited

| Statutory Auditors

| Chartered Accountants & Business Advisers

| Office 1

| Engine House

| Marshalls Yard

| Gainsborough

| Lincolnshire

| DN21 2NA

| Naylor Technical Solutions Ltd. (Registered number: 04126555) |

Balance Sheet

28 February 2023

| 2023 | 2022 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 530,758 |  | 261,275 |  |

CURRENT ASSETS

Stocks | 334,060 |  | 218,711 |  |

Debtors | 5 | 803,092 |  | 774,492 |  |

Cash at bank and in hand | 997,420 |  | 225,205 |  |

2,134,572 |  | 1,218,408 |  |

CREDITORS

Amounts falling due within one year | 6 | 2,130,298 |  | 853,867 |  |

NET CURRENT ASSETS | 4,274 |  | 364,541 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 535,032 |  | 625,816 |  |

PROVISIONS FOR LIABILITIES | 15,126 |  | 49,223 |  |

NET ASSETS | 519,906 |  | 576,593 |  |

CAPITAL AND RESERVES

Called up share capital | 112,500 |  | 112,500 |  |

Retained earnings | 407,406 |  | 464,093 |  |

SHAREHOLDERS' FUNDS | 519,906 |  | 576,593 |  |

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 13 June 2023 and were signed on its behalf by:

C M Simpson - Director

| Naylor Technical Solutions Ltd. (Registered number: 04126555) |

Notes to the Financial Statements

for the Year Ended 28 February 2023

1. | STATUTORY INFORMATION

| Naylor Technical Solutions Ltd. 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.

| Turnover

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

| Tangible fixed assets

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

| Plant and machinery | - | 20% on cost

| Office equipment | - | 20% 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.

| 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.

| 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 24 (2022 - 23 ) .

| Naylor Technical Solutions Ltd. (Registered number: 04126555) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2023

4. | TANGIBLE FIXED ASSETS

| Plant and |  | Office |

| machinery |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 March 2022 | 516,060 |  | 50,556 |  | 566,616 |  |

| Additions | 310,589 |  | - |  | 310,589 |  |

| At 28 February 2023 | 826,649 |  | 50,556 |  | 877,205 |  |

| DEPRECIATION

| At 1 March 2022 | 258,863 |  | 46,478 |  | 305,341 |  |

| Charge for year | 38,759 |  | 2,347 |  | 41,106 |  |

| At 28 February 2023 | 297,622 |  | 48,825 |  | 346,447 |  |

| NET BOOK VALUE

| At 28 February 2023 | 529,027 |  | 1,731 |  | 530,758 |  |

| At 28 February 2022 | 257,197 |  | 4,078 |  | 261,275 |  |

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

2023 | 2022 |

£ | £ |

| Trade debtors | 691,060 |  | 573,319 |  |

| Amounts owed by group undertakings | 7,183 |  | - |  |

| Other debtors | 104,849 |  | 201,173 |  |

803,092 |  | 774,492 |  |

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

2023 | 2022 |

£ | £ |

| Trade creditors | 115,322 |  | 126,615 |  |

| Amounts owed to group undertakings | 1,802,927 |  | 630,392 |  |

| Taxation and social security | 248 |  | - |  |

| Other creditors | 211,801 |  | 96,860 |  |

2,130,298 |  | 853,867 |  |

7. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2023 | 2022 |

£ | £ |

| Within one year | 133,124 |  | 133,124 |  |

| Between one and five years | 560,192 |  | 343,043 |  |

| In more than five years | 868,596 |  | 868,596 |  |

1,561,912 |  | 1,344,763 |  |

| Naylor Technical Solutions Ltd. (Registered number: 04126555) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2023

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

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

| 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. Due to a limitation of scope in the prior period ending 28 February 2022 we were not able to verify the existence and therefore the valuation of opening stock of £218,711 shown in the Company's 28 February 2023 financial statements.

| Peter Harrison BTech FCA (Senior Statutory Auditor)

| for and on behalf of Wright Vigar Limited

10. | ULTIMATE CONTROLLING PARTY

| The controlling party is Naylor Specialist Plastics Limited, the registered office is Naylor House Valley Road, Wombwell, Barnsley, England, S73 0BS.

| The ultimate controlling party is Naylor Industries Plc, the registered office is Clough Green, Cawthorne, Barnsley, South Yorkshire, S75 4AD.