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REGISTERED NUMBER: 02980487 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 28 FEBRUARY 2025 |

| FOR |

| B.T.E. PLANT SALES LIMITED |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 28 February 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Notes to the Financial Statements | 13 |

| B.T.E. PLANT SALES LIMITED |

COMPANY INFORMATION

for the year ended 28 February 2025

| DIRECTORS: | B T Elliott

| Miss R L Bryson

| L D Botting

| REGISTERED OFFICE: | 85 Ashby Road

| Markfield

| Leicester

| LE67 9UA

| REGISTERED NUMBER: | 02980487 (England and Wales)

| AUDITORS: | HB&O Ltd

| Chartered Accountants and Statutory Auditors

| Seven Stars House

| 1 Wheler Road

| Coventry

| CV3 4LB

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

STRATEGIC REPORT

for the year ended 28 February 2025

The directors present their strategic report for the year ended 28 February 2025.

REVIEW OF BUSINESS

During the year the company's turnover decreased by 9% from £61,294,138 to £55,516,082 and a profit on ordinary activities before taxation of £821,283 (2024: £1,523,677) was achieved.

Shareholders' funds at 28 February 2025 amounted to £7,013,140 (2024: £6,770,798). The directors consider the state of affairs of the company to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES

The key risks and uncertainties affecting the company are considered to relate to the demand for products from the construction industry and competition from overseas suppliers. The company is well positioned to manage these risks due to a strong supply chain, capable workforce and management team, alongside solid reserves.

FUTURE DEVELOPMENTS

2025 has again been a more challenging year for the company as demand continued to be impacted from the plentiful supply of stock throughout the sector.

Nevertheless, the company has still traded very solidly during the year and the directors remain confident that the company will still be profitable in the forthcoming 12 months and beyond, with growth still considered to be a key strategy.

As such, the directors believe the company to be a going concern and have adopted this assumption in preparing the financial statements, having considered any material uncertainties in this regard for a period of at least 12 months from the date of approval of these financial statements.

SECTION 172(1) STATEMENT

Each director of the company continues to be mindful of their statutory duty to promote the success of the company for the benefit of the members as a whole, and in doing so having regard (amongst other matters) to those factors set out in section 172(1)(a)-(f) of the Companies Act 2006.

Collectively, the board recognises how having regard to these and other relevant factors and stakeholder groups in their decision-making, contributes to the success of the company. Depending on the matter in question, the relevance of different stakeholder interests and other factors will inevitably vary and the board may have to make difficult decisions based on competing priorities which means that it may not always be possible to provide a favourable outcome for all stakeholders.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

STRATEGIC REPORT

for the year ended 28 February 2025

STREAMLINED ENERGY AND CARBON REPORTING

The company has used HM Governmental Environmental Reporting Guidelines including Streamlined Energy and Reporting guidance.

Energy source |  | Consumption |  | Scope |  | Conversion rate |  | Emissions calculator |  |

Gas |  | 241,910 kWh |  | Scope 1 |  | 0.18253 |  | 44,156kg CO2e |  |

Diesel |  | 38,578 litres |  | Scope 1 |  | 2.47960 |  | 95,658kg CO2e |  |

Petrol |  | 3,250 litres |  | Scope 1 |  | 2.07047 |  | 6,729kg CO2e |  |

Electricity |  | 154,186 kWh |  | Scope 2 |  | 0.207050 |  | 31,924kg CO2e |  |

Total Scope 1 and 2 Gross emissions (all location based) |  | 178,467kg CO2e |  |

Equivalent expressed as tonnes of CO2e (tCO2) |  | 178.467 tCO2e |  |

Carbon intensity ratio (tCO2e per £m turnover) |  | 3.215 tCO2e |  |

Energy consumption used to calculate the above emissions (kWh) |  | 420,133 |  |

The comparative date for the year ended 28 February 2024 was as follows:-

Energy source |  | Consumption |  | Scope |  | Conversion rate |  | Emissions calculator |  |

Gas |  | 273,753 kWh |  | Scope 1 |  | 0.18256 |  | 49,976kg CO2e |  |

Diesel |  | 65,848 litres |  | Scope 1 |  | 2.47887 |  | 163,229kg CO2e |  |

Petrol |  | 3,211 litres |  | Scope 1 |  | 2.08354 |  | 6,690kg CO2e |  |

Electricity |  | 126,370kWh |  | Scope 2 |  | 0.207074 |  | 26,168kg CO2e |  |

Total Scope 1 and 2 Gross emissions (all location based) |  | 246,063kg CO2e |  |

Equivalent expressed as tonnes of CO2e (tCO2) |  | 246.063 tCO2e |  |

Carbon intensity ratio (tCO2e per £m turnover) |  | 4.014 tCO2e |  |

Energy consumption used to calculate the above emissions (kWh) |  | 440,110 |  |

The company will seek to reduce consumption in future years through transition to Electric vehicles and the use of smart meters, amongst other strategies.

ON BEHALF OF THE BOARD:

Miss R L Bryson - Director

28 August 2025

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

REPORT OF THE DIRECTORS

for the year ended 28 February 2025

The directors present their report with the financial statements of the company for the year ended 28 February 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the sale of new and used plant, including spares.

DIVIDENDS

Interim dividends of £450,000 were paid to the former parent entity, BTE Holdings Limited, during the year.

The directors recommend that no final dividends be paid.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

B T Elliott

Miss R L Bryson

Other changes in directors holding office are as follows:

L D Botting - appointed 1 June 2024

FINANCIAL INSTRUMENTS

Objectives and policies

The financial risk management objectives and policies of the company include policies to manage its interest rate, credit and liquidity risk. The use of financial instruments to manage these risks is summarised below.

Interest rate risk

The company has a bank loan as well as significant cash balances. The general policy is to limit its exposure to interest rate movements by placing short-term deposits on the money markets with fixed maturities of up to one month. Deposits are only placed with the company's principal bankers.

Price risk

The company does not have financial instruments that are exposed to price risk.

Credit risk

The company's credit risk is primarily attributable to its trade debtors. The amounts presented in the balance sheet are net of allowances for doubtful debts as identified by the directors.

Liquidity risk

The company ensures that it has sufficient funds to meet obligations or commitments associated with its financial instruments by monitoring cashflow as part of its day to day control procedures and also, more strategically, by the use of agreed stocking loan facilities made available by certain suppliers.

CHARITABLE DONATIONS AND EXPENDITURE

During the year the company made charitable donations of £65,467.

ENGAGEMENT WITH EMPLOYEES

The directors seek to foster an environment in which employees can raise any issues in respect of business conduct at any time and look to ensure that any matters arising are dealt with in a transparent and fair way.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The company seeks to deal on a fair basis with its suppliers, customers and other stakeholders. Both directors and the wider management engage and communicate very regularly with these various stakeholders and terms of business are communicated in a transparent way.

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS

The directors ultimately take responsibility for the success of the company through setting the strategy of the company and providing entrepreneurial leadership, combined with regular management and review of the wider risks to the company and the employees and other management. Meetings are held regularly to ensure that this process is ongoing.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

REPORT OF THE DIRECTORS

for the year ended 28 February 2025

DISCLOSURE IN THE STRATEGIC REPORT

The company's review of business, principal risks and uncertainties and future developments are disclosed within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

ON BEHALF OF THE BOARD:

Miss R L Bryson - Director

28 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

B.T.E. PLANT SALES LIMITED

Opinion

We have audited the financial statements of B.T.E. Plant Sales Limited (the 'company') for the year ended 28 February 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 28 February 2025 and of its 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 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.

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 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 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 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 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

B.T.E. PLANT SALES LIMITED

Matters on which we are required to report by exception

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

- | the 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 five, 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 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 company or to cease operations, or have no realistic alternative but to do so.

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:

The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

B.T.E. PLANT SALES 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.

Wayne Gutteridge FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

28 August 2025

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

INCOME STATEMENT

for the year ended 28 February 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 55,516,082 |  | 61,294,138 |  |

Cost of sales | 49,675,625 |  | 54,631,638 |  |

GROSS PROFIT | 5,840,457 |  | 6,662,500 |  |

Administrative expenses | 5,089,949 |  | 5,177,309 |  |

OPERATING PROFIT | 5 | 750,508 |  | 1,485,191 |  |

Interest receivable and similar income | 127,170 |  | 86,524 |  |

877,678 |  | 1,571,715 |  |

Interest payable and similar expenses | 6 | 56,395 |  | 48,038 |  |

PROFIT BEFORE TAXATION | 821,283 |  | 1,523,677 |  |

Tax on profit | 7 | 128,941 |  | 331,526 |  |

PROFIT FOR THE FINANCIAL YEAR | 692,342 |  | 1,192,151 |  |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

OTHER COMPREHENSIVE INCOME

for the year ended 28 February 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 692,342 |  | 1,192,151 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 692,342 |  | 1,192,151 |  |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

BALANCE SHEET

28 February 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | 1,075,458 |  | 968,717 |  |

Investments | 11 | 100 |  | 100 |  |

1,075,558 |  | 968,817 |  |

CURRENT ASSETS

Stocks | 12 | 6,116,532 |  | 10,594,098 |  |

Debtors | 13 | 10,261,609 |  | 13,592,016 |  |

Cash at bank and in hand | 3,027,183 |  | 3,921,314 |  |

19,405,324 |  | 28,107,428 |  |

CREDITORS

Amounts falling due within one year | 14 | 12,839,725 |  | 21,622,430 |  |

NET CURRENT ASSETS | 6,565,599 |  | 6,484,998 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,641,157 |  | 7,453,815 |  |

CREDITORS

Amounts falling due after more than one year | 15 | 628,017 |  | 683,017 |  |

NET ASSETS | 7,013,140 |  | 6,770,798 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 99 |  | 99 |  |

Capital redemption reserve | 20 | 1 |  | 1 |  |

Retained earnings | 20 | 7,013,040 |  | 6,770,698 |  |

SHAREHOLDERS' FUNDS | 7,013,140 |  | 6,770,798 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:

Miss R L Bryson - Director

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

STATEMENT OF CHANGES IN EQUITY

for the year ended 28 February 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 March 2023 | 99 |  | 6,578,547 |  | 1 |  | 6,578,647 |  |

Changes in equity

Dividends | - |  | (1,000,000 | ) | - |  | (1,000,000 | ) |

Total comprehensive income | - |  | 1,192,151 |  | - |  | 1,192,151 |  |

Balance at 29 February 2024 | 99 |  | 6,770,698 |  | 1 |  | 6,770,798 |  |

Changes in equity

Dividends | - |  | (450,000 | ) | - |  | (450,000 | ) |

Total comprehensive income | - |  | 692,342 |  | - |  | 692,342 |  |

Balance at 28 February 2025 | 99 |  | 7,013,040 |  | 1 |  | 7,013,140 |  |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 28 February 2025

1. | STATUTORY INFORMATION

| B.T.E. Plant Sales 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows.

| Preparation of consolidated financial statements

| The financial statements contain information about B.T.E. Plant Sales Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, BTE Group Holdings Limited, 85 Ashby Road, Markfield, Leicester, LE67 9UA.

| Critical accounting judgements and key sources of estimation uncertainty

| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

| Accounting estimates:

| i) Inventory provisioning

| The company commits annually to significant stock holdings of both new and used plant and spare parts, some of which may be held for a significant time and for which a future sale is not guaranteed. When calculating the inventory provision, management consider both the historic movement of individual lines and the wider market appetite for the stock lines, as this may necessitate a mode of sale or resale value that was not originally intended. This historic and market data is used by management when determining the associated provisioning required.

| Accounting judgements:

| ii) Operating leases

| The company utilises assets which it does not own and pays for on an ongoing basis. In making the judgement as to whether such arrangements constitute finance leases or operating leases, management have assessed where the substantial risk and rewards of the ownership of the assets fall, and assessed that the counter-party, rather than the company, bears substantially all of the risks and rewards of ownership of the assets.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable net of returns, rebates, VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

| Sale of goods

| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

| Service contracts

| Turnover from service contracts is recognised over the life of the contract, which will typically be over 5 years.

| Interest receivable

| Interest income is recognised using the effective interest method.

| 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

| Land and buildings | - | 2% on cost

| Plant and machinery | - | at varying rates on cost

| Fixtures & fittings | - | at varying rates on cost

| Motor vehicles | - | at varying rates on cost

| Freehold land and buildings include leasehold improvements, which are depreciated at 10% on cost.

| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Investments in subsidiaries

| Investments in subsidiary undertakings are stated at historic cost, net of any impairment losses.

| Stocks

| Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition, including any import costs, duties and carriage.

| 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.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

| Share capital

| Share capital is treated as an equity instrument where there is evidence of a residual interest in the assets of an entity after deducting all its liabilities. Accordingly, a financial instrument is treated as equity if:

| - there is no contractual obligation to deliver cash or other financial assets or to exchange financial assets or liabilities on terms that may be unfavourable; and

| - the instrument is a non-derivative that contains no contractual obligations to deliver a variable number of shares or is a derivative that will be settled only by the company exchanging a fixed amount of cash or other assets for a fixed number of the company's own equity instruments.

| Where shares are issued for a value in excess of their nominal value, the resultant premium is included in a share premium account.

| Preference shares, which result in fixed returns to the holder or are mandatorily redeemable on a specific date, are classified as liabilities. The dividends on these shares are recognised in the income statement as interest expense.

| Dividends

| Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by shareholders. These amounts are recognised in the statement of changes in equity.

| Financial instruments

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

3. | TURNOVER

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

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Sale of goods | 55,382,568 |  | 61,162,931 |  |

| Commissions receivable | 29,230 |  | 36,960 |  |

| Service contracts | 104,284 |  | 94,247 |  |

55,516,082 |  | 61,294,138 |  |

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 55,470,636 |  | 61,284,612 |  |

| Europe | 1,383 |  | 1,887 |  |

| Rest of World | 44,063 |  | 7,639 |  |

55,516,082 |  | 61,294,138 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,968,708 |  | 2,033,356 |  |

| Social security costs | 213,535 |  | 214,240 |  |

| Other pension costs | 39,645 |  | 40,194 |  |

2,221,888 |  | 2,287,790 |  |

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

| 2025 |  | 2024

| Workshop | 29 |  | 31 |  |

| Finance and administration | 6 |  | 7 |  |

| Sales | 12 |  | 15 |  |

| Management | 1 |  | 1 |  |

48 |  | 54 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 74,633 |  | 29,674 |  |

| Directors' pension contributions to money purchase schemes | 2,850 |  | - |  |

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

| Money purchase schemes | 1 |  | - |  |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 163,542 |  | 257,757 |  |

| Depreciation - assets on hire purchase contracts | 3,431 |  | 25,106 |  |

| Profit on disposal of fixed assets | (119,544 | ) | (116,381 | ) |

| Patents and licences amortisation | - |  | 1,500 |  |

| Auditors' remuneration | 29,020 |  | 23,820 |  |

| Operating leases - land and buildings | 101,200 |  | 148,000 |  |

| Other operating leases | 133,072 |  | 106,355 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 53,246 |  | 47,763 |  |

| Other interest | 3,149 |  | - |  |

| Hire purchase | - |  | 275 |  |

56,395 |  | 48,038 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 128,941 |  | 331,526 |  |

| Tax on profit | 128,941 |  | 331,526 |  |

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

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

7. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 821,283 |  | 1,523,677 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 205,321 |  | 380,919 |  |

| Effects of:

| Expenses not deductible for tax purposes | 30,153 |  | 26,481 |  |

| Income not taxable for tax purposes | (29,886 | ) | (29,095 | ) |

| Depreciation in excess of capital allowances | 6,048 |  | 57,471 |  |

| Group relief | (82,695 | ) | (97,370 | ) |

| Other tax adjustments | - |  | (6,880 | ) |

| Total tax charge | 128,941 |  | 331,526 |  |

| During the year the UK corporation tax rate remained at 25% and is set to remain so for the foreseeable future.

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary A shares of 10p each

| Interim | 450,000 |  | 1,000,000 |  |

9. | INTANGIBLE FIXED ASSETS

| Patents

| and

| licences

£ |

| COST

| At 1 March 2024

| and 28 February 2025 | 1,500 |  |

| AMORTISATION

| At 1 March 2024

| and 28 February 2025 | 1,500 |  |

| NET BOOK VALUE

| At 28 February 2025 | - |  |

| At 29 February 2024 | - |  |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

10. | TANGIBLE FIXED ASSETS

| Land and |  | Plant and |  | Fixtures |  | Motor |

| buildings |  | machinery |  | & fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 March 2024 | 1,320,088 |  | 312,315 |  | 224,635 |  | 251,876 |  | 2,108,914 |  |

| Additions | - |  | 7,128 |  | 18,883 |  | 267,909 |  | 293,920 |  |

| Disposals | - |  | (149,692 | ) | - |  | (70,145 | ) | (219,837 | ) |

| At 28 February 2025 | 1,320,088 |  | 169,751 |  | 243,518 |  | 449,640 |  | 2,182,997 |  |

| DEPRECIATION

| At 1 March 2024 | 548,801 |  | 310,957 |  | 158,380 |  | 122,059 |  | 1,140,197 |  |

| Charge for year | 67,022 |  | 4,757 |  | 29,461 |  | 65,733 |  | 166,973 |  |

| Eliminated on disposal | - |  | (149,692 | ) | - |  | (49,939 | ) | (199,631 | ) |

| At 28 February 2025 | 615,823 |  | 166,022 |  | 187,841 |  | 137,853 |  | 1,107,539 |  |

| NET BOOK VALUE

| At 28 February 2025 | 704,265 |  | 3,729 |  | 55,677 |  | 311,787 |  | 1,075,458 |  |

| At 29 February 2024 | 771,287 |  | 1,358 |  | 66,255 |  | 129,817 |  | 968,717 |  |

| Included within the net book value of land and buildings above is £596,406 (2024: £611,563) in respect of freehold land and buildings and £107,859 (2024: £159,724) in respect of leasehold improvements.

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 March 2024 | 54,895 |  |

| Transfer to ownership | (54,895 | ) |

| At 28 February 2025 | - |  |

| DEPRECIATION

| At 1 March 2024 | 38,209 |  |

| Charge for year | 3,431 |  |

| Transfer to ownership | (41,640 | ) |

| At 28 February 2025 | - |  |

| NET BOOK VALUE

| At 28 February 2025 | - |  |

| At 29 February 2024 | 16,686 |  |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

11. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 March 2024

| and 28 February 2025 | 100 |  |

| NET BOOK VALUE

| At 28 February 2025 | 100 |  |

| At 29 February 2024 | 100 |  |

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

| B.T.E. Plant Sales (Northern) Limited

| Registered office: 85 Ashby Road, Markfield, Leicester, UK

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 100 |  | 100 |  |

12. | STOCKS

2025 | 2024 |

£ | £ |

| Finished goods | 6,116,532 |  | 10,594,098 |  |

| An impairment loss of £98,277 (2024: reversal of impairment loss of £61,033) was recognised in cost of sales against stock during the year.

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

2025 | 2024 |

£ | £ |

| Trade debtors | 2,720,690 |  | 2,976,599 |  |

| Amounts owed by group undertakings | 6,884,019 |  | 9,914,828 |  |

| Other debtors | 72 |  | 72 |  |

| Prepayments and accrued income | 656,828 |  | 700,517 |  |

10,261,609 |  | 13,592,016 |  |

| An impairment loss of £2,788 (2024: £1,148) was recognised against trade debtors during the year.

| All debtors are financial assets that are debt instruments measured at amortised cost.

| Amounts owed by group undertakings are unsecured, repayable under normal commercial arrangements and carry no interest.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 16) | 55,000 |  | 55,000 |  |

| Hire purchase contracts (see note 17) | - |  | 4,739 |  |

| Trade creditors | 11,106,454 |  | 15,369,663 |  |

| Amounts owed to group undertakings | 10,000 |  | 3,459,541 |  |

| Tax | 13,941 |  | 341,008 |  |

| Social security and other taxes | 56,312 |  | 50,301 |  |

| VAT | 800,497 |  | 808,422 |  |

| Other creditors | 7,879 |  | 7,519 |  |

| Accruals and deferred income | 789,642 |  | 1,526,237 |  |

12,839,725 |  | 21,622,430 |  |

| All creditors are financial liabilities measured at amortised cost.

| Amounts owed to group undertakings are unsecured, repayable under normal commercial arrangements and carry no interest.

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

2025 | 2024 |

£ | £ |

| Bank loans (see note 16) | 627,917 |  | 682,917 |  |

| Amounts owed to group undertakings | 100 |  | 100 |  |

628,017 |  | 683,017 |  |

16. | LOANS

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

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans - less than 1 year | 55,000 |  | 55,000 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 55,000 |  | 55,000 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 165,000 |  | 165,000 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans - more than 5 years | 407,917 |  | 462,917 |  |

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 4,739 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 234,272 |  | 257,672 |  |

| Between one and five years | 290,422 |  | 493,494 |  |

| In more than five years | 72,800 |  | 104,000 |  |

597,494 |  | 855,166 |  |

18. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 682,917 |  | 737,917 |  |

| Hire purchase contracts | - |  | 4,739 |  |

682,917 |  | 742,656 |  |

| The company has a bank loan, which is secured by a charge on its freehold property at 7 Carr Crofts Drive, Leeds. The loan is repayable over a term of 15 years and incurs interest at 2.5% above the Bank of England base rate.

| Liabilities under hire purchase contracts were secured on the underlying assets that have been financed.

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 990 | Ordinary A | 10p | 99 |  | 99 |  |

| All Ordinary A shares rank pari passu with respect to voting rights, the rights to distribution of dividends and the repayment of capital.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

20. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 March 2024 | 6,770,698 |  | 1 |  | 6,770,699 |  |

| Profit for the year | 692,342 |  | 692,342 |  |

| Dividends | (450,000 | ) | (450,000 | ) |

| At 28 February 2025 | 7,013,040 |  | 1 |  | 7,013,041 |  |

| Retained earnings

| This reserve represents all current and prior year retained profits and losses.

| Capital redemption reserve

| This reserve represents the nominal value of shares repurchased by the company.

21. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme in respect of certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £39,645 (2024: £40,194). There were outstanding contributions of £7,828 (2024: £7,072) at the year end.

22. | ULTIMATE PARENT COMPANY

| BTE Group Holdings Limited is regarded by the directors as being the company's ultimate parent company.

| BTE Group Holdings Limited is the largest group which publishes financial statements that consolidate this entity.

| These group financial statements are available to the public from:-

| 85 Ashby Road

| Markfield

| Leicester

| LE67 9UA

23. | CONTINGENT LIABILITIES

| The company has a debenture with its bankers for any current or future liabilities becoming due, dated 23 May 2019, with a fixed charge over all of its freehold and leasehold property; a first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and a first floating charge over all assets and undertakings, both present and future.

| The company has an unlimited multilateral guarantee with its fellow group company, BTE Holdings Limited and its parent undertaking, BTE Group Holdings Limited, dated 15 July 2019.

| B.T.E. PLANT SALES LIMITED (REGISTERED NUMBER: 02980487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 28 February 2025

24. | RELATED PARTY DISCLOSURES

| B T Elliott

| During the year the company paid rent of £31,200 (2024: £31,200) to B T Elliott, a director.

| The company also incurred rent costs amounting to £70,000 (2024: £70,000) with Markfield Properties, a business in which B T Elliott is a partner.

| BTE Holdings Limited (fellow group company)

| During the year the company was charged management charges of £Nil (2024: £1,500,000) by BTE Holdings Limited.

| BTE Group Holdings Limited (parent company)

| During the year the company was charged management charges of £1,500,000 (2024: £Nil) by BTE Group Holdings Limited.

| Key management

| Key management are considered to be the directors, whose remuneration is disclosed in the preceding notes to these financial statements.

25. | CONTROLLING INTERESTS

| The company's immediate and ultimate controlling undertaking is BTE Group Holdings Limited.

| BTE Group Holdings Limited is controlled by Miss R L Bryson, director.