IRIS Accounts Production v25.2.0.378 07291374 Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07291374 2024-03-31 07291374 2025-03-31 07291374 2024-04-01 2025-03-31 07291374 2023-03-31 07291374 2023-04-01 2024-03-31 07291374 2024-03-31 07291374 ns15:EnglandWales 2024-04-01 2025-03-31 07291374 ns14:PoundSterling 2024-04-01 2025-03-31 07291374 ns10:Director1 2024-04-01 2025-03-31 07291374 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07291374 ns10:MediumEntities 2024-04-01 2025-03-31 07291374 ns10:Audited 2024-04-01 2025-03-31 07291374 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 07291374 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07291374 ns10:FullAccounts 2024-04-01 2025-03-31 07291374 1 2024-04-01 2025-03-31 07291374 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 07291374 ns10:Director2 2024-04-01 2025-03-31 07291374 ns10:CompanySecretary1 2024-04-01 2025-03-31 07291374 ns10:RegisteredOffice 2024-04-01 2025-03-31 07291374 1 2024-04-01 2025-03-31 07291374 1 2023-04-01 2024-03-31 07291374 ns5:CurrentFinancialInstruments 2025-03-31 07291374 ns5:CurrentFinancialInstruments 2024-03-31 07291374 ns5:ShareCapital 2025-03-31 07291374 ns5:ShareCapital 2024-03-31 07291374 ns5:RevaluationReserve 2025-03-31 07291374 ns5:RevaluationReserve 2024-03-31 07291374 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 07291374 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 07291374 ns5:ShareCapital 2023-03-31 07291374 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 07291374 ns5:RevaluationReserve 2023-03-31 07291374 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 07291374 ns5:RevaluationReserve 2023-04-01 2024-03-31 07291374 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 07291374 ns5:RevaluationReserve 2024-04-01 2025-03-31 07291374 1 2024-04-01 2025-03-31 07291374 ns5:NetGoodwill 2024-04-01 2025-03-31 07291374 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 07291374 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-04-01 2025-03-31 07291374 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 07291374 ns5:ComputerSoftware 2024-04-01 2025-03-31 07291374 ns5:LeaseholdImprovements 2024-04-01 2025-03-31 07291374 ns5:PlantMachinery 2024-04-01 2025-03-31 07291374 ns5:FurnitureFittings 2024-04-01 2025-03-31 07291374 ns5:MotorVehicles 2024-04-01 2025-03-31 07291374 ns5:ComputerEquipment 2024-04-01 2025-03-31 07291374 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-04-01 2025-03-31 07291374 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-04-01 2024-03-31 07291374 ns5:OwnedAssets 2024-04-01 2025-03-31 07291374 ns5:OwnedAssets 2023-04-01 2024-03-31 07291374 ns5:ComputerSoftware 2023-04-01 2024-03-31 07291374 ns10:OrdinaryShareClass1 2023-04-01 2024-03-31 07291374 ns5:NetGoodwill 2024-03-31 07291374 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 07291374 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 07291374 ns5:ComputerSoftware 2024-03-31 07291374 ns5:NetGoodwill 2025-03-31 07291374 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-03-31 07291374 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 07291374 ns5:ComputerSoftware 2025-03-31 07291374 ns5:NetGoodwill 2024-03-31 07291374 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 07291374 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 07291374 ns5:ComputerSoftware 2024-03-31 07291374 ns5:LeaseholdImprovements 2024-03-31 07291374 ns5:PlantMachinery 2024-03-31 07291374 ns5:FurnitureFittings 2024-03-31 07291374 ns5:LeaseholdImprovements 2025-03-31 07291374 ns5:PlantMachinery 2025-03-31 07291374 ns5:FurnitureFittings 2025-03-31 07291374 ns5:LeaseholdImprovements 2024-03-31 07291374 ns5:PlantMachinery 2024-03-31 07291374 ns5:FurnitureFittings 2024-03-31 07291374 ns5:MotorVehicles 2024-03-31 07291374 ns5:ComputerEquipment 2024-03-31 07291374 ns5:MotorVehicles 2025-03-31 07291374 ns5:ComputerEquipment 2025-03-31 07291374 ns5:MotorVehicles 2024-03-31 07291374 ns5:ComputerEquipment 2024-03-31 07291374 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 07291374 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 07291374 ns5:WithinOneYear 2025-03-31 07291374 ns5:WithinOneYear 2024-03-31 07291374 ns5:BetweenOneFiveYears 2025-03-31 07291374 ns5:BetweenOneFiveYears 2024-03-31 07291374 ns5:MoreThanFiveYears 2025-03-31 07291374 ns5:MoreThanFiveYears 2024-03-31 07291374 ns5:AllPeriods 2025-03-31 07291374 ns5:AllPeriods 2024-03-31 07291374 ns5:Secured 2025-03-31 07291374 ns5:Secured 2024-03-31 07291374 ns5:DeferredTaxation 2024-03-31 07291374 ns5:DeferredTaxation 2025-03-31 07291374 ns10:OrdinaryShareClass1 2025-03-31 07291374 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 07291374 ns5:RevaluationReserve 2024-03-31 07291374 ns10:Director2 2 2024-03-31 07291374 ns10:Director2 2 2023-03-31 07291374 ns10:Director2 2 2024-04-01 2025-03-31 07291374 ns10:Director2 2 2023-04-01 2024-03-31 07291374 ns10:Director2 2 2025-03-31 07291374 ns10:Director2 2 2024-03-31 07291374 1 ns10:Director1 2024-03-31 07291374 1 ns10:Director1 2023-03-31 07291374 1 ns10:Director1 2024-04-01 2025-03-31 07291374 1 ns10:Director1 2023-04-01 2024-03-31 07291374 1 ns10:Director1 2025-03-31 07291374 1 ns10:Director1 2024-03-31

REGISTERED NUMBER: 07291374 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| CMT Equipment Limited |

| CMT Equipment Limited (Registered number: 07291374) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 5 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 13 |

| Cash Flow Statement | 14 |

| Notes to the Cash Flow Statement | 15 |

| Notes to the Financial Statements | 17 |

| CMT Equipment Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | Mr A G Hazell

| Mr G J Hales

| SECRETARY: | Mrs B Hazell

| REGISTERED OFFICE: | Riverbridge House

| Anchor Boulevard

| Crossways Business Park

| DARTFORD

| Kent

| DA2 6SL

| REGISTERED NUMBER: | 07291374 (England and Wales)

| AUDITORS: | Nicholsons Audit (Statutory Auditor)

| Newland House

| The Point

| Weaver Road

| LINCOLN

| Lincolnshire

| LN6 3QN

| BANKERS: | HSBC

| 8 Market Place

| SPALDING

| Lincolnshire

| PE11 1SN

| CMT Equipment Limited (Registered number: 07291374) |

Strategic Report

for the Year Ended 31 March 2025

The CMT group consists of several entities including this company working across Equipment, Manufacturing and Healthcare and operating in the UK, EMEA, North and South America and APAC. As such, not all entities' financial positions are included in these financial statements.

The business continues to operate within a challenging economic environment. Ongoing economic headwinds including persistent inflationary pressures, higher interest rates, supply chain disruptions, and a tight labour market are impacting both operating costs and customer demand. In addition, uncertainty in global markets has contributed to fluctuating exchange rates and reduced business confidence.

Despite these challenges, the company remains focused on its long-term objectives: maintaining operational efficiency, investing in sustainable growth, and protecting margins through prudent cost management and careful capital allocation.

Management continue to be focused on their growth strategy developing existing relationships and building new ones across the UK. Underpinning this growth is the development of back office and fulfilment teams ensuring growth is locked in and sustainably delivered.

Management of working capital is essential to fund growth and management monitor this on an ongoing basis.

Financial Performance

During the period, the company maintained stable revenues and continued to invest in core operations to support future growth. Cost control measures and disciplined cash management have helped to mitigate the impact of increased input costs and financing expenses.

Key financial performance indicators are summarised below:

| 2025 |

| £m |

Turnover (£) |  | £75,425,516 |

EBITDA (£) |  | £12,742,444 |

EBITDA (%) |  | 16.89% |

Operating cash flow (£) |  | £12,667,603 |

Liquidity |  | 2.56 |

The company continues to prioritise maintaining a robust balance sheet, ensuring sufficient liquidity to support day-to-day operations and future growth initiatives.

Principal Risks and Uncertainties

The company faces a range of external and operational risks, including economic uncertainty, rising costs, and supply chain disruption, all of which could impact margins and cash flow. Higher interest rates and tighter funding conditions present additional financial pressures, while talent shortages remain a challenge for sustaining growth. Regulatory requirements and increasing cyber security threats also add to the risk profile. The Directors and management team monitor these risks closely and has controls and contingency plans in place to mitigate them where possible.

Outlook

The company remains optimistic about the future and will continue to focus on cost discipline, strengthening the balance sheet, and pursuing opportunities that support sustainable long-term growth.

| CMT Equipment Limited (Registered number: 07291374) |

Strategic Report

for the Year Ended 31 March 2025

PRINCIPAL RISKS AND UNCERTAINTIES

Management are conscious of inflationary pressure in the UK economy and watch closely the impact of global events on their sector. These pressures have the potential to disrupt supply and prices and are therefore key risks that are monitored.

Management mitigate these risks by continuous nurturing of supply chain relationships and close monitoring of stock to ensure fast moving items are prioritised by the buying team.

Management are also conscious of the impact un-structured growth could have on the business and have strengthened internal controls and key management positions to ensure growth is delivered on a strong operational platform.

ON BEHALF OF THE BOARD:

Mr A G Hazell - Director

8 October 2025

| CMT Equipment Limited (Registered number: 07291374) |

Report of the Directors

for the Year Ended 31 March 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale of machine tools.

DIVIDENDS

During the year the company paid dividends per share of £4,100.

DIRECTORS

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

Mr A G Hazell

Mr G J Hales

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;

- | 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr A G Hazell - Director

8 October 2025

Report of the Independent Auditors to the Members of

CMT Equipment Limited

Opinion

We have audited the financial statements of CMT Equipment Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 March 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

CMT Equipment 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 four, 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.

Report of the Independent Auditors to the Members of

CMT Equipment 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Based on our understanding of the company and its industry we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations and in identifying and assessing the risk of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

- Inquiring of management and where appropriate those charged with governance as to whether the company is in compliance with laws and regulations.

- Inspecting correspondence, if any, with relevant licensing authorities.

- Communicating to our engagement team identified laws and regulations and remaining alert to any instances of non-compliance throughout our audit; and

- Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

We also considered those laws and regulations which have a direct effect on the preparation of the financial statements such as tax legislation, the Companies Act 2006 and the reporting framework (FRS102).

Further to this, we evaluated the Director's and managements incentives and opportunities for fraudulent manipulation of the financial statements including the risk of management override of controls and determined the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular provisions around stock, as well as estimates around the calculation of costs pertaining to revenue recognition and significant one off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:

- Making enquiries of the director and management on whether they had knowledge of any actual, suspected or alleged fraud;

- Gaining an understanding of internal controls established to mitigate risks related to fraud;

- Discussing amongst the engagement team the risks of fraud;

- Addressing the risks of fraud through management override of controls by performing journal entry testing;

- Testing of assumptions and reperforming calculations; and

- Sensitivity analysis around assumptions used.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring 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

CMT Equipment 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.

Joanne Brown (Senior Statutory Auditor)

for and on behalf of Nicholsons Audit (Statutory Auditor)

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

9 October 2025

| CMT Equipment Limited (Registered number: 07291374) |

Income Statement

for the Year Ended 31 March 2025

| 31/3/25 |  | 31/3/24

| Notes | £ | £ |

TURNOVER | 3 | 75,425,516 |  | 44,445,727 |  |

Cost of sales | 48,708,074 |  | 30,852,494 |  |

GROSS PROFIT | 26,717,442 |  | 13,593,233 |  |

Administrative expenses | 14,583,040 |  | 9,755,924 |  |

12,134,402 |  | 3,837,309 |  |

Other operating income | 58,301 |  | 3,455 |  |

OPERATING PROFIT | 5 | 12,192,703 |  | 3,840,764 |  |

Interest receivable and similar income | 81,241 |  | 62,511 |  |

12,273,944 |  | 3,903,275 |  |

Interest payable and similar expenses | 7 | 96,476 |  | 51,729 |  |

PROFIT BEFORE TAXATION | 12,177,468 |  | 3,851,546 |  |

Tax on profit | 8 | 3,110,123 |  | 901,039 |  |

PROFIT FOR THE FINANCIAL YEAR | 9,067,345 |  | 2,950,507 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Other Comprehensive Income

for the Year Ended 31 March 2025

| 31/3/25 |  | 31/3/24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 9,067,345 |  | 2,950,507 |  |

OTHER COMPREHENSIVE INCOME |

Revaluation | - |  | 41,682 |  |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | - |  | 41,682 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 9,067,345 |  | 2,992,189 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Balance Sheet

31 March 2025

| 31/3/25 | 31/3/24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 19,923 |  | 17,521 |  |

Tangible assets | 11 | 2,731,004 |  | 2,446,953 |  |

2,750,927 |  | 2,464,474 |  |

CURRENT ASSETS

Stocks | 12 | 10,406,856 |  | 8,545,738 |  |

Debtors | 13 | 19,628,813 |  | 17,762,314 |  |

Cash at bank and in hand | 10,662,791 |  | 632,170 |  |

40,698,460 |  | 26,940,222 |  |

CREDITORS

Amounts falling due within one year | 14 | 15,817,219 |  | 10,432,434 |  |

NET CURRENT ASSETS | 24,881,241 |  | 16,507,788 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 27,632,168 |  | 18,972,262 |  |

PROVISIONS FOR LIABILITIES | 18 | 390,990 |  | 388,429 |  |

NET ASSETS | 27,241,178 |  | 18,583,833 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 100 |  | 100 |  |

Revaluation reserve | 20 | 41,682 |  | 41,682 |  |

Retained earnings | 20 | 27,199,396 |  | 18,542,051 |  |

SHAREHOLDERS' FUNDS | 27,241,178 |  | 18,583,833 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Balance Sheet - continued

31 March 2025

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

Mr A G Hazell - Director

| CMT Equipment Limited (Registered number: 07291374) |

Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 April 2023 | 100 |  | 16,358,212 |  | - |  | 16,358,312 |  |

Changes in equity

Dividends | - |  | (766,668 | ) | - |  | (766,668 | ) |

Total comprehensive income | - |  | 2,950,507 |  | 41,682 |  | 2,992,189 |  |

Balance at 31 March 2024 | 100 |  | 18,542,051 |  | 41,682 |  | 18,583,833 |  |

Changes in equity

Dividends | - |  | (410,000 | ) | - |  | (410,000 | ) |

Total comprehensive income | - |  | 9,067,345 |  | - |  | 9,067,345 |  |

Balance at 31 March 2025 | 100 |  | 27,199,396 |  | 41,682 |  | 27,241,178 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Cash Flow Statement

for the Year Ended 31 March 2025

| 31/3/25 |  | 31/3/24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 12,667,603 |  | 6,714,937 |  |

Interest paid | (96,476 | ) | (51,729 | ) |

Tax paid | (1,858,422 | ) | (96,951 | ) |

Net cash from operating activities | 10,712,705 |  | 6,566,257 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (12,556 | ) | (22,581 | ) |

Purchase of tangible fixed assets | (742,398 | ) | (840,659 | ) |

Sale of tangible fixed assets | - |  | 5,685 |  |

Interest received | 81,241 |  | 62,511 |  |

Net cash from investing activities | (673,713 | ) | (795,044 | ) |

Cash flows from financing activities

New loans in year | 324,625 |  | - |  |

Loan repayments in year | - |  | (4,062,270 | ) |

Amount withdrawn by directors | (33,846 | ) | (2,969,861 | ) |

Equity dividends paid | (410,000 | ) | (766,668 | ) |

Net cash from financing activities | (119,221 | ) | (7,798,799 | ) |

Increase/(decrease) in cash and cash equivalents | 9,919,771 |  | (2,027,586 | ) |

Cash and cash equivalents at beginning of year | 2 | (250,546 | ) | 1,777,040 |  |

Cash and cash equivalents at end of year | 2 | 9,669,225 |  | (250,546 | ) |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Cash Flow Statement

for the Year Ended 31 March 2025

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

| 31/3/25 |  | 31/3/24

£ | £ |

| Profit before taxation | 12,177,468 |  | 3,851,546 |  |

| Depreciation charges | 468,502 |  | 352,024 |  |

| Profit on disposal of fixed assets | - |  | (22,576 | ) |

| Provisions | - |  | (390,000 | ) |

| Finance costs | 96,476 |  | 51,729 |  |

| Finance income | (81,241 | ) | (62,511 | ) |

12,661,205 |  | 3,780,212 |  |

| Increase in stocks | (1,861,118 | ) | (2,194,444 | ) |

| (Increase)/decrease in trade and other debtors | (1,832,653 | ) | 6,750,998 |  |

| Increase/(decrease) in trade and other creditors | 3,700,169 |  | (1,621,829 | ) |

| Cash generated from operations | 12,667,603 |  | 6,714,937 |  |

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 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 10,662,791 |  | 632,170 |  |

| Bank overdrafts | (993,566 | ) | (882,716 | ) |

9,669,225 |  | (250,546 | ) |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 632,170 |  | 2,533,316 |  |

| Bank overdrafts | (882,716 | ) | (756,276 | ) |

(250,546 | ) | 1,777,040 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Cash Flow Statement

for the Year Ended 31 March 2025

3. | ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 632,170 |  | 10,030,621 |  | 10,662,791 |  |

| Bank overdrafts | (882,716 | ) | (110,850 | ) | (993,566 | ) |

(250,546 | ) | 9,919,771 |  | 9,669,225 |  |

| Debt

| Debts falling due within 1 year | (788,765 | ) | (324,626 | ) | (1,113,391 | ) |

(788,765 | ) | (324,626 | ) | (1,113,391 | ) |

| Total | (1,039,311 | ) | 9,595,145 |  | 8,555,834 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| CMT Equipment 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 as modified by the revaluation of certain assets.

| Critical accounting judgements and key sources of estimation uncertainty

| The financial statements are prepared to generally accepted accounting principles which requires management to make estimates and assumptions that affect assets and liabilities. Actual results could be different due to these estimates. The effect of any differences are reported at the time the information becomes available.

| The most significant judgements relate to provisions and the valuation and subsequent

| impairment of tangible fixed assets. Provisions have been estimated based on a detailed

| review of historical information and current trends. Tangible assets have been valued

| based upon their consumer interaction level.

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

| 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.

| Patents and licences are being amortised evenly over their estimated useful life of five years.

| Trade marks are being amortised evenly over their estimated useful life of two years.

| Website is being amortised evenly over its estimated useful life of two years.

| Tangible fixed assets

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

| Tenants improvements | - | at variable rates on reducing balance

| Plant and machinery | - | 25% on reducing balance and 15% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Hire stock | - | Written down to net realisable value

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

| Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

| Cash at bank is classified as a basic financial instrument and is measured at transaction price.

| Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

| 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| 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.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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. | TURNOVER

| The company has taken advantage of the exemption not to disclose the segmentation analysis of turnover.

4. | EMPLOYEES AND DIRECTORS

| 31/3/25 |  | 31/3/24

£ | £ |

| Wages and salaries | 8,214,379 |  | 6,058,607 |  |

| Social security costs | 727,889 |  | 525,777 |  |

| Other pension costs | 29,668 |  | 32,237 |  |

8,971,936 |  | 6,616,621 |  |

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

| 31/3/25 |  | 31/3/24

| Directors | 2 |  | 2 |  |

| Warehouse staff | 33 |  | 28 |  |

| Administrative staff | 94 |  | 81 |  |

129 |  | 111 |  |

| 31/3/25 |  | 31/3/24

£ | £ |

| Directors' remuneration | 92,000 |  | 35,000 |  |

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

| Money purchase schemes | 1 |  | 1 |  |

5. | OPERATING PROFIT

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

| 31/3/25 |  | 31/3/24

£ | £ |

| Hire of plant and machinery | 170,453 |  | 129,370 |  |

| Rent | 1,671,023 |  | 1,249,107 |  |

| Depreciation - owned assets | 458,347 |  | 346,964 |  |

| Profit on disposal of fixed assets | - |  | (22,576 | ) |

| Website amortisation | 10,154 |  | 5,060 |  |

| Auditors' remuneration | 18,900 |  | 18,000 |  |

| Foreign exchange differences | 268,567 |  | 42,353 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

6. | EXCEPTIONAL ITEMS

| 31/3/25 |  | 31/3/24

£ | £ |

| Exceptional items | (75,355 | ) | - |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31/3/25 |  | 31/3/24

£ | £ |

| Bank interest | 36,079 |  | 10,224 |  |

| Bank loan interest | 60,397 |  | 41,505 |  |

96,476 |  | 51,729 |  |

8. | 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 | 3,020,640 |  | 932,348 |  |

| Previous year adjustment | 86,922 |  | - |  |

| Total current tax | 3,107,562 |  | 932,348 |  |

| Deferred tax | 2,561 |  | (31,309 | ) |

| Tax on profit | 3,110,123 |  | 901,039 |  |

| 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 | 12,177,468 |  | 3,851,546 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 3,044,367 |  | 962,887 |  |

| Effects of:

| Expenses not deductible for tax purposes | 106,244 |  | 202,782 |  |

| Capital allowances in excess of depreciation | - |  | (233,321 | ) |

| Depreciation in excess of capital allowances | 19,215 |  | - |  |

| Adjustments to tax charge in respect of previous periods | (73,686 | ) | - |  |

| Deferred tax | 2,561 |  | (31,309 | ) |

| S455 Tax included | 11,422 |  | - |  |

| Total tax charge | 3,110,123 |  | 901,039 |  |

| Tax effects relating to effects of other comprehensive income |

| There were no tax effects for the year ended 31 March 2025.

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. | TAXATION - continued

| 31/3/24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Revaluation | 41,682 |  | - |  | 41,682 |  |

9. | DIVIDENDS

| 31/3/25 |  | 31/3/24

£ | £ |

| Final | 410,000 |  | 766,668 |  |

10. | INTANGIBLE FIXED ASSETS

| Patents |

| and |  | Trade |

| Goodwill |  | licences |  | marks |  | Website |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 350,000 |  | 4,888 |  | 12,000 |  | 10,581 |  | 377,469 |  |

| Additions | - |  | - |  | - |  | 12,556 |  | 12,556 |  |

| At 31 March 2025 | 350,000 |  | 4,888 |  | 12,000 |  | 23,137 |  | 390,025 |  |

| AMORTISATION

| At 1 April 2024 | 350,000 |  | 4,888 |  | - |  | 5,060 |  | 359,948 |  |

| Amortisation for year | - |  | - |  | - |  | 10,154 |  | 10,154 |  |

| At 31 March 2025 | 350,000 |  | 4,888 |  | - |  | 15,214 |  | 370,102 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | - |  | 12,000 |  | 7,923 |  | 19,923 |  |

| At 31 March 2024 | - |  | - |  | 12,000 |  | 5,521 |  | 17,521 |  |

11. | TANGIBLE FIXED ASSETS

| Fixtures

| Tenants |  | Plant and |  | and

| improvements |  | machinery |  | fittings

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 1,421,443 |  | 1,127,075 |  | 209,242 |  |

| Additions | 97,813 |  | 239,921 |  | 110,842 |  |

| At 31 March 2025 | 1,519,256 |  | 1,366,996 |  | 320,084 |  |

| DEPRECIATION

| At 1 April 2024 | 468,156 |  | 490,654 |  | 100,708 |  |

| Charge for year | 240,817 |  | 127,893 |  | 26,322 |  |

| At 31 March 2025 | 708,973 |  | 618,547 |  | 127,030 |  |

| NET BOOK VALUE

| At 31 March 2025 | 810,283 |  | 748,449 |  | 193,054 |  |

| At 31 March 2024 | 953,287 |  | 636,421 |  | 108,534 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

11. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Hire |

| vehicles |  | stock |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 70,463 |  | 730,419 |  | 3,558,642 |  |

| Additions | - |  | 293,822 |  | 742,398 |  |

| At 31 March 2025 | 70,463 |  | 1,024,241 |  | 4,301,040 |  |

| DEPRECIATION

| At 1 April 2024 | 52,171 |  | - |  | 1,111,689 |  |

| Charge for year | 3,315 |  | 60,000 |  | 458,347 |  |

| At 31 March 2025 | 55,486 |  | 60,000 |  | 1,570,036 |  |

| NET BOOK VALUE

| At 31 March 2025 | 14,977 |  | 964,241 |  | 2,731,004 |  |

| At 31 March 2024 | 18,292 |  | 730,419 |  | 2,446,953 |  |

| Cost or valuation at 31 March 2025 is represented by:

| Fixtures

| Tenants |  | Plant and |  | and

| improvements |  | machinery |  | fittings

£ | £ | £ |

| Cost | 1,519,256 |  | 1,366,996 |  | 320,084 |  |

| Motor |  | Hire |

| vehicles |  | stock |  | Totals

£ | £ | £ |

| Cost | 70,463 |  | 1,024,241 |  | 4,301,040 |  |

| Hire stock is reviewed for impairment each year by the directors.

| If tenants improvements had not been revalued it would be included at the following historical cost:

|  | 31/03/25 |  | 31/03/24 |  |

|  | £ |  | £ |  |

| Cost |  | 1,024,241 |  | 1,331,746 |  |

| Aggregate Depreciation |  | 60,000 |  | 456,661 |  |

| Revaluations have not been updated as the directors are not aware of any material changes in value.

| No provision has been made for additional United Kingdom taxation of £201,299 (2024: £201,299) which would arise if the improvements to property were disposed of at their revalued amount.

12. | STOCKS

| 31/3/25 |  | 31/3/24

£ | £ |

| Stocks | 10,406,856 |  | 8,545,738 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

| 31/3/25 |  | 31/3/24

£ | £ |

| Trade debtors | 10,843,018 |  | 9,812,795 |  |

| Other debtors | 4,293,766 |  | 3,594,441 |  |

| Directors' current accounts | 3,192,771 |  | 3,158,925 |  |

| Prepayments and accrued income | 1,299,258 |  | 1,196,153 |  |

19,628,813 |  | 17,762,314 |  |

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

| 31/3/25 |  | 31/3/24

£ | £ |

| Bank loans and overdrafts (see note 15) | 993,566 |  | 882,716 |  |

| Other loans (see note 15) | 1,113,391 |  | 788,765 |  |

| Trade creditors | 5,090,266 |  | 4,617,520 |  |

| Tax | 2,811,629 |  | 1,562,489 |  |

| Social security and other taxes | 633,668 |  | 178,068 |  |

| VAT | 246,990 |  | 256,599 |  |

| Other creditors | 1,450,530 |  | 1,475,044 |  |

| Accruals and deferred income | 3,477,179 |  | 671,233 |  |

15,817,219 |  | 10,432,434 |  |

15. | LOANS

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

| 31/3/25 |  | 31/3/24

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 993,566 |  | 882,716 |  |

| Other loans | 1,113,391 |  | 788,765 |  |

2,106,957 |  | 1,671,481 |  |

16. | LEASING AGREEMENTS

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

| 31/3/25 |  | 31/3/24

£ | £ |

| Within one year | 969,295 |  | 969,295 |  |

| Between one and five years | 4,125,975 |  | 4,183,375 |  |

| In more than five years | 1,285,255 |  | 1,285,256 |  |

6,380,525 |  | 6,437,926 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

17. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31/3/25 |  | 31/3/24

£ | £ |

| Bank overdrafts | 993,566 |  | 882,716 |  |

| Other loans | 1,113,391 |  | 788,765 |  |

2,106,957 |  | 1,671,481 |  |

| Other loans is a forward exchange contracts facility that are secured against the imported goods to which they relate. A general letter of pledge has been provided in relation to the overdraft, it states that interest is at the rate of 3% per annum over the relevant base rate of the Bank. They also hold the right to set-off the balance against other bank accounts with the bank.

18. | PROVISIONS FOR LIABILITIES

| 31/3/25 |  | 31/3/24

£ | £ |

| Deferred tax | 390,990 |  | 388,429 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 388,429 |  |

| Accelerated capital allowances | 2,561 |  |

| Dilapidation |

| Asset write off |

| Balance at 31 March 2025 | 390,990 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31/3/25 |  | 31/3/24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

20. | RESERVES

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 April 2024 | 18,542,051 |  | 41,682 |  | 18,583,733 |  |

| Profit for the year | 9,067,345 |  | 9,067,345 |  |

| Dividends | (410,000 | ) | (410,000 | ) |

| At 31 March 2025 | 27,199,396 |  | 41,682 |  | 27,241,078 |  |

| CMT Equipment Limited (Registered number: 07291374) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

21. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31/3/25 |  | 31/3/24

£ | £ |

| Mr G J Hales

| Balance outstanding at start of year | 458,419 |  | 215,333 |  |

| Amounts advanced | 10,421 |  | 243,086 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 468,840 |  | 458,419 |  |

| Mr A G Hazell

| Balance outstanding at start of year | 2,700,506 |  | - |  |

| Amounts advanced | 601,164 |  | 3,515,628 |  |

| Amounts repaid | (577,746 | ) | (815,122 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 2,723,924 |  | 2,700,506 |  |

| On the balances due to the company from the directors the official rate of interest is charged and balances are repayable on demand.

22. | RELATED PARTY DISCLOSURES

| During the year the company had transactions with the following companies which are controlled by Mr A G Hazell a director of this company or a close relative and which are defined as related parties; Brittmade Limited, Securasite Limited, CMT Groupe, Devon Advisory Limited.

| All of the transactions with the above companies were made in the ordinary course of business and were made on an arm's length basis.

| At the end of the year balances due from these related parties and included in debtors was £3.04m (2024: £1.554m) and the amount included in creditors was £1.539m (2024: £770,960). no amounts have been written off.

| The company converted £100,000 of the £375,000 loan to Manor Gospel Trust, a charity registered with the Charities Commission, into a donation, reducing the loan balance to £275,000. Mr A G Hazell and members of his close family are also Trustees of the charity. This loan is unsecured and no interest is charged.

| During the year wages were paid to key management personnel totalling £557,504 (2024: £761,214)

| .

23. | ULTIMATE CONTROLLING PARTY

| By virtue of his 75% holding in the share capital of the company, the ultimate control of the company lies with Mr A G Hazell.