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REGISTERED NUMBER: 06334579 (England and Wales)

B W Industries (Holdings) Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st January 2025

B W Industries (Holdings) Limited (Registered number: 06334579)

Contents of the Financial Statements

for the year ended 31st January 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 5 |

Statement of Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Notes to the Financial Statements | 12 |

B W Industries (Holdings) Limited

Company Information

for the year ended 31st January 2025

| DIRECTORS: | D R Smith

| S P Smith

| SECRETARY: | D R Smith

| REGISTERED OFFICE: | Lancaster Road

| Carnaby

| Bridlington

| East Yorkshire

| YO15 3QY

| REGISTERED NUMBER: | 06334579 (England and Wales)

| AUDITORS: | Smailes Goldie

| Chartered Accountants

| Statutory Auditor

| Regent's Court

| Princess Street

| Hull

| East Yorkshire HU2 8BA

B W Industries (Holdings) Limited (Registered number: 06334579)

Strategic Report

for the year ended 31st January 2025

The directors present their strategic report for the year ended 31st January 2025.

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

Given that this company has not traded during the year, the directors are aware of the general performance of the business without reference to key performance indicators and accordingly these are not therefore calculated.

PRINCIPAL RISKS AND UNCERTAINTIES

Although the company has not traded during the year, the directors monitor principal risks and uncertainties across the group and these are referred to within the Strategic Report of B.W. Industries (UK) Limited.

SECTION 172(1) STATEMENT

The directors have considered the matters set out in section 172 (1) (a) to (f) when performing their duty to

promote the success of the company. Although the company has not traded during the year, the directors continue to ensure that any business decisions consider the long-term impact on all key stakeholders across the group. This includes when evaluating acquisition and growth opportunities. During the period there has been a strong focus on the continued integration of previous acquisitions to ensure that going forward the business can function in a single consistent manner. This integration promotes employee development and allows supplier and customer relationships to be elevated to a group level. Environmental issues continue to be a major focus of the business and are a key consideration as the Board compiles its strategy. The board encourages sharing of best practices between group companies to ensure the business operates at the highest possible standard and endeavours for all members to be treated fairly.

In addition, the directors consider the group's employees, suppliers and customers to be integral to its continued success. The directors have reported on engagement with employees, suppliers, customers and others within the Report of the Directors.

ON BEHALF OF THE BOARD:

Director

23rd October 2025

B W Industries (Holdings) Limited (Registered number: 06334579)

Report of the Directors

for the year ended 31st January 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an intermediate holding company.

DIVIDENDS

During the year, interim dividends were paid totalling £4,500,000 (2024: £7,820,530).

DIRECTORS

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

D R Smith

S P Smith

DISABLED EMPLOYEES

Although the company does not have any employees, the group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

EMPLOYEE INVOLVEMENT

Although the company does not have any employees,, the policy of providing group employees with information about the group has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the group's performance. Regular meetings are held with employees to allow a free flow of information and ideas.

ENGAGEMENT WITH EMPLOYEES

The directors ensure that all employees throughout the group are kept up to date with key and relevant information which may concern them as employees. Employees are consulted as necessary when making material decisions which may affect them. Employees are encouraged to have an interest in the performance of the group and a general awareness of the group's performance.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The directors continuously consider key stakeholder relationships and develops them. The group considers relationships with customers and suppliers on a global scale and maintains strong relationships at a company and group level. Organic and acquisitive group actions take into consideration these business relationships.

STREAMLINED ENERGY AND CARBON REPORTING

The company consumes less than 40,000 kWh of energy each year, therefore energy efficiency disclosures under the Streamlined Energy and Carbon Reporting regulations ("SECR") are not included. The consolidated SECR reporting can be found in the financial statements of B.W. Industries (UK) Limited.

B W Industries (Holdings) Limited (Registered number: 06334579)

Report of the Directors

for the year ended 31st January 2025

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 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.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment in accordance with Section 385 of the Companies Act 1985.

ON BEHALF OF THE BOARD:

D R Smith - Director

23rd October 2025

Report of the Independent Auditors to the Members of

B W Industries (Holdings) Limited

Opinion

We have audited the financial statements of B W Industries (Holdings) Limited (the 'company') for the year ended 31st January 2025 which comprise the Statement of 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 31st January 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 W Industries (Holdings) 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

B W Industries (Holdings) Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, tax legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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

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

- |  | tested journal entries to identify unusual transactions; |

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

- |  | investigated the rationale behind significant or unusual transactions. |

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- |  | agreeing financial statement disclosures to underlying supporting documentation; |

- |  | enquiring of management as to actual and potential litigation and claims; and |

- |  | reviewing correspondence with relevant regulators and the company's legal advisors. |

Due to 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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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

B W Industries (Holdings) 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.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

23rd October 2025

B W Industries (Holdings) Limited (Registered number: 06334579)

Statement of Comprehensive Income

for the year ended 31st January 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | - |  | - |  |

OPERATING PROFIT | 4 | - |  | - |  |

Income from shares in group undertakings | 4,500,000 |  | 7,820,530 |  |

PROFIT BEFORE TAXATION | 4,500,000 |  | 7,820,530 |  |

Tax on profit | 5 | - |  | - |  |

PROFIT FOR THE FINANCIAL YEAR | 4,500,000 |  | 7,820,530 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 4,500,000 |  | 7,820,530 |  |

B W Industries (Holdings) Limited (Registered number: 06334579)

Balance Sheet

31st January 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 7 | 6,531,423 |  | 6,531,423 |  |

CURRENT ASSETS

Debtors | 8 | 769 |  | 769 |  |

NET CURRENT ASSETS | 769 |  | 769 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,532,192 |  | 6,532,192 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 2,600 |  | 2,600 |  |

Share premium | 10 | 4,486,969 |  | 4,486,969 |  |

Retained earnings | 10 | 2,042,623 |  | 2,042,623 |  |

SHAREHOLDERS' FUNDS | 6,532,192 |  | 6,532,192 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 23rd October 2025 and were signed on its behalf by:

D R Smith - Director

B W Industries (Holdings) Limited (Registered number: 06334579)

Statement of Changes in Equity

for the year ended 31st January 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1st February 2023 | 2,600 |  | 2,042,623 |  | 4,486,969 |  | 6,532,192 |  |

Changes in equity

Dividends | - |  | (7,820,530 | ) | - |  | (7,820,530 | ) |

Total comprehensive income | - |  | 7,820,530 |  | - |  | 7,820,530 |  |

Balance at 31st January 2024 | 2,600 |  | 2,042,623 |  | 4,486,969 |  | 6,532,192 |  |

Changes in equity

Dividends | - |  | (4,500,000 | ) | - |  | (4,500,000 | ) |

Total comprehensive income | - |  | 4,500,000 |  | - |  | 4,500,000 |  |

Balance at 31st January 2025 | 2,600 |  | 2,042,623 |  | 4,486,969 |  | 6,532,192 |  |

B W Industries (Holdings) Limited (Registered number: 06334579)

Notes to the Financial Statements

for the year ended 31st January 2025

1. | STATUTORY INFORMATION

| B W Industries (Holdings) 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

| The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions 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;

| • | the requirement of paragraph 3.17(d);

| • | the requirement of paragraph 33.7.

| Preparation of consolidated financial statements

| The financial statements contain information about B W Industries (Holdings) 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, B. W. Industries (UK) Limited, Lancaster Road, Carnaby, Bridlington, East Yorkshire, YO15 3QY.

| Investments

| The company's investments in subsidiary undertakings are stated at cost.

3. | EMPLOYEES AND DIRECTORS

| There were no staff costs for the year ended 31st January 2025 nor for the year ended 31st January 2024.

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | - |  | - |  |

4. | OPERATING PROFIT

| No operating profit/loss arose for the year ended 31st January 2025, nor for the year ended 31st January 2024.

5. | TAXATION

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 31st January 2025 nor for the year ended 31st January 2024.

B W Industries (Holdings) Limited (Registered number: 06334579)

Notes to the Financial Statements - continued

for the year ended 31st January 2025

6. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| A ordinary shares shares of £1 each

| Interim | 4,500,000 |  | 7,820,530 |  |

7. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1st February 2024

| and 31st January 2025 | 6,531,423 |  |

| NET BOOK VALUE

| At 31st January 2025 | 6,531,423 |  |

| At 31st January 2024 | 6,531,423 |  |

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

| B W Manufacturing Limited

| Registered office: Lancaster Road, Carnaby, Bridlington, East Yorkshire, YO15 3QY

| Nature of business: Holding company

| %

| Class of shares: | holding |

| Ordinary A shares | 100.00 |

| Ordinary B shares | 100.00 |

| B W Industries Limited

| Registered office: Lancaster Road, Carnaby, Bridlington, East Yorkshire, YO15 3QY

| Nature of business: Supply of pressed and rolled metal sections

| %

| Class of shares: | holding |

| Ordinary A shares | 100.00 |

| Ordinary B shares | 100.00 |

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

2025 | 2024 |

£ | £ |

| Amounts owed by group undertakings | 769 |  | 769 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 2,000 | A ordinary shares | £1 | 2,000 |  | 2,000 |  |

| 600 | B ordinary shares | £1 | 600 |  | 600 |  |

2,600 |  | 2,600 |  |

B W Industries (Holdings) Limited (Registered number: 06334579)

Notes to the Financial Statements - continued

for the year ended 31st January 2025

10. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1st February 2024 | 2,042,623 |  | 4,486,969 |  | 6,529,592 |  |

| Profit for the year | 4,500,000 |  | - |  | 4,500,000 |  |

| Dividends | (4,500,000 | ) | - |  | (4,500,000 | ) |

| At 31st January 2025 | 2,042,623 |  | 4,486,969 |  | 6,529,592 |  |

| Retained earnings represents cumulative profits and losses net of dividends and other adjustments.

| The share premium account represents the premium arising on the issue of shares net of issue costs.

11. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. | ULTIMATE PARENT COMPANY

| The parent company is B. W. Industries (Group) Limited, and the registered office is the same as stated on page 1 of these financial statements.

| The ultimate parent company is B. W. Industries (UK) Limited.

| The largest and smallest group in which the results of the company are consolidated is that headed by B. W. Industries (UK) Limited. The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.