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REGISTERED NUMBER: 10809784 (England and Wales)

| Financial Statements |

| For The Year Ended 30 June 2025 |

| for |

| Curtis Engineering (Frome) Limited |

| Curtis Engineering (Frome) Limited (Registered number: 10809784) |

Contents of the Financial Statements

For The Year Ended 30 June 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Curtis Engineering (Frome) Limited |

Company Information

For The Year Ended 30 June 2025

| DIRECTORS: | A J I Lowther

| B Bartlett

| C Bowerman

| REGISTERED OFFICE: | The Factory

| Whitchurch

| Ross-on-Wye

| Herefordshire

| HR9 6DF

| REGISTERED NUMBER: | 10809784 (England and Wales)

| AUDITORS: | Kingscott Dix Limited

| Chartered Accountants

| and Statutory Auditor

| Goodridge Court

| Goodridge Avenue

| Gloucester

| Gloucestershire

| GL2 5EN

| Curtis Engineering (Frome) Limited (Registered number: 10809784) |

Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 65,703 |  | 79,901 |  |

65,703 |  | 79,901 |  |

CURRENT ASSETS

Stocks | 6 | 24,816 |  | 56,733 |  |

Debtors | 7 | 922,562 |  | 837,988 |  |

Cash at bank and in hand | 819,160 |  | 1,036,145 |  |

1,766,538 |  | 1,930,866 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,246,165 |  | 1,433,884 |  |

NET CURRENT ASSETS | 520,373 |  | 496,982 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 586,076 |  | 576,883 |  |

PROVISIONS FOR LIABILITIES | 9 | 207,071 |  | 227,889 |  |

NET ASSETS | 379,005 |  | 348,994 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 379,004 |  | 348,993 |  |

379,005 |  | 348,994 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2025 and were signed on its behalf by:

A J I Lowther - Director

C Bowerman - Director

| Curtis Engineering (Frome) Limited (Registered number: 10809784) |

Notes to the Financial Statements

For The Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Curtis Engineering (Frome) 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Related party exemption

| 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 between wholly owned subsidiaries within the group.

| Turnover

| Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts, value added tax and other sales related taxes.

| Turnover and attributable profit is recognised on all contracts which are incomplete at the year end according to the stage of completion, where the eventual outcome of those contracts can be reliably foreseen. Attributable turnover on such contracts not yet invoiced at the year end is recognised in debtors.

| Where the outcome of a contract in progress at the year end cannot be reliably foreseen, the net costs of the contract are included within Work in Progress after deducting payments received on account.

| Where a long term contract is considered to be loss making, the whole of the foreseeable loss is recognised immediately.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2017, has been amortised over its estimated useful life of 1 year.

| Tangible fixed assets

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

| Plant and machinery | - | 20% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 50% on cost and 20% on cost

| Stocks

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

| Cost is calculated using the first-in first out (FIFO) principle and includes all direct materials, transport and handling costs in bringing stocks to their present location and condition.

| Work in progress

| Work in progress on contracts is valued on the basis of direct costs. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

| Curtis Engineering (Frome) Limited (Registered number: 10809784) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

| Curtis Engineering (Frome) Limited (Registered number: 10809784) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Pension costs and other post-retirement benefits

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 6 (2024 - 8 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 1 |  |

| AMORTISATION

| At 1 July 2024

| and 30 June 2025 | 1 |  |

| NET BOOK VALUE

| At 30 June 2025 | - |  |

| At 30 June 2024 | - |  |

| Curtis Engineering (Frome) Limited (Registered number: 10809784) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 July 2024 | 10,035 |  | 7,949 |  | 122,810 |  | 15,552 |  | 156,346 |  |

| Additions | 1,650 |  | - |  | - |  | 8,930 |  | 10,580 |  |

| At 30 June 2025 | 11,685 |  | 7,949 |  | 122,810 |  | 24,482 |  | 166,926 |  |

| DEPRECIATION

| At 1 July 2024 | 7,746 |  | 4,654 |  | 48,765 |  | 15,280 |  | 76,445 |  |

| Charge for year | 768 |  | 763 |  | 18,510 |  | 4,737 |  | 24,778 |  |

| At 30 June 2025 | 8,514 |  | 5,417 |  | 67,275 |  | 20,017 |  | 101,223 |  |

| NET BOOK VALUE

| At 30 June 2025 | 3,171 |  | 2,532 |  | 55,535 |  | 4,465 |  | 65,703 |  |

| At 30 June 2024 | 2,289 |  | 3,295 |  | 74,045 |  | 272 |  | 79,901 |  |

6. | STOCKS

| 30.6.25 |  | 30.6.24

£ | £ |

| Stocks | 3,893 |  | 4,039 |  |

| Work-in-progress | 31,809 |  | 52,694 |  |

| Payments on account | (10,886 | ) | - |  |

24,816 |  | 56,733 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade debtors | 629,431 |  | 822,120 |  |

| Amounts recoverable on contract | 234,977 |  | 7,993 |  |

| Other debtors | 48,909 |  | 239 |  |

| Tax | 1,799 |  | - |  |

| Prepayments and accrued income | 7,446 |  | 7,636 |  |

922,562 |  | 837,988 |  |

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

| 30.6.25 |  | 30.6.24

£ | £ |

| Payments received on account | 269,634 |  | 459,943 |  |

| Trade creditors | 506,916 |  | 228,006 |  |

| Amounts owed to group undertakings | 356,000 |  | 485,700 |  |

| Corporation tax | - |  | 108,099 |  |

| Social security and other taxes | 19,537 |  | 56,001 |  |

| Accruals and deferred income | 94,078 |  | 96,135 |  |

1,246,165 |  | 1,433,884 |  |

| Curtis Engineering (Frome) Limited (Registered number: 10809784) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

9. | PROVISIONS FOR LIABILITIES

| 30.6.25 |  | 30.6.24

£ | £ |

| Deferred tax | 14,771 |  | 17,957 |  |

| Other provisions | 192,300 |  | 209,932 |  |

207,071 |  | 227,889 |  |

| Deferred |  | Other |

| tax |  | provisions |

£ | £ |

| Balance at 1 July 2024 | 17,957 |  | 209,932 |  |

| Accelerated capital allowances | (3,186 | ) | - |  |

| Balance at 30 June 2025 | 14,771 |  | 209,932 |  |

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

| The Report of the Auditors was unqualified.

| Emma Steward (Senior Statutory Auditor)

| for and on behalf of Kingscott Dix Limited

11. | CONSOLIDATED GROUP ACCOUNTS

| Lowther Holdings Limited is the parent company of Curtis Engineering (Frome) Limited..

| Information regarding the financial statements of Lowther Holdings Limited can be obtained from its registered office The Factory, Whitchurch, Ross-on-Wye, United Kingdom, HR9 6DF.

| The ultimate parent company, Whitchurch Holdings Limited, prepare consolidated financial statements for the year ended 30 June 2025.

| Information regarding the consolidated financial statements of Whitchurch Holdings Limited can be obtained from the registered office The Factory, Whitchurch, Ross-on-Wye, United Kingdom, HR9 6DF.

| All companies are incorporated in England and Wales.