IRIS Accounts Production v25.3.0.601 13257803 Board of Directors 1.3.24 28.2.25 28.2.25 Medium entities the sale & service of farm machinery and associated products. true false true true false false true true true true 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 13257803 2024-02-29 13257803 2025-02-28 13257803 2024-03-01 2025-02-28 13257803 2023-02-28 13257803 2023-03-01 2024-02-29 13257803 2024-02-29 13257803 ns15:EnglandWales 2024-03-01 2025-02-28 13257803 ns14:PoundSterling 2024-03-01 2025-02-28 13257803 ns10:Director1 2024-03-01 2025-02-28 13257803 ns10:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 13257803 ns10:MediumEntities 2024-03-01 2025-02-28 13257803 ns10:Audited 2024-03-01 2025-02-28 13257803 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-03-01 2025-02-28 13257803 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-03-01 2025-02-28 13257803 ns10:FullAccounts 2024-03-01 2025-02-28 13257803 ns10:OrdinaryShareClass1 2024-03-01 2025-02-28 13257803 ns10:Director2 2024-03-01 2025-02-28 13257803 ns10:RegisteredOffice 2024-03-01 2025-02-28 13257803 ns5:CurrentFinancialInstruments 2025-02-28 13257803 ns5:CurrentFinancialInstruments 2024-02-29 13257803 ns5:Non-currentFinancialInstruments 2025-02-28 13257803 ns5:Non-currentFinancialInstruments 2024-02-29 13257803 ns5:ShareCapital 2025-02-28 13257803 ns5:ShareCapital 2024-02-29 13257803 ns5:RetainedEarningsAccumulatedLosses 2025-02-28 13257803 ns5:RetainedEarningsAccumulatedLosses 2024-02-29 13257803 ns5:ShareCapital 2023-02-28 13257803 ns5:RetainedEarningsAccumulatedLosses 2023-02-28 13257803 ns5:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 13257803 ns5:RetainedEarningsAccumulatedLosses 2024-03-01 2025-02-28 13257803 ns5:LeaseholdImprovements 2024-03-01 2025-02-28 13257803 ns5:PlantMachinery 2024-03-01 2025-02-28 13257803 ns5:MotorVehicles 2024-03-01 2025-02-28 13257803 ns15:UnitedKingdom 2024-03-01 2025-02-28 13257803 ns15:UnitedKingdom 2023-03-01 2024-02-29 13257803 ns15:Europe 2024-03-01 2025-02-28 13257803 ns15:Europe 2023-03-01 2024-02-29 13257803 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-03-01 2025-02-28 13257803 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2023-03-01 2024-02-29 13257803 ns5:OwnedAssets 2024-03-01 2025-02-28 13257803 ns5:OwnedAssets 2023-03-01 2024-02-29 13257803 ns5:LeasedAssets 2024-03-01 2025-02-28 13257803 ns5:LeasedAssets 2023-03-01 2024-02-29 13257803 1 2024-03-01 2025-02-28 13257803 1 2023-03-01 2024-02-29 13257803 ns5:LeaseholdImprovements 2024-02-29 13257803 ns5:PlantMachinery 2024-02-29 13257803 ns5:MotorVehicles 2024-02-29 13257803 ns5:LeaseholdImprovements 2025-02-28 13257803 ns5:PlantMachinery 2025-02-28 13257803 ns5:MotorVehicles 2025-02-28 13257803 ns5:LeaseholdImprovements 2024-02-29 13257803 ns5:PlantMachinery 2024-02-29 13257803 ns5:MotorVehicles 2024-02-29 13257803 ns5:LeasedAssetsHeldAsLessee 2024-03-01 2025-02-28 13257803 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-02-28 13257803 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-02-29 13257803 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-02-28 13257803 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2024-02-29 13257803 ns5:BetweenOneFiveYears ns5:HirePurchaseContracts 2025-02-28 13257803 ns5:BetweenOneFiveYears ns5:HirePurchaseContracts 2024-02-29 13257803 ns5:HirePurchaseContracts 2025-02-28 13257803 ns5:HirePurchaseContracts 2024-02-29 13257803 ns5:Secured 2025-02-28 13257803 ns5:Secured 2024-02-29 13257803 ns5:DeferredTaxation 2024-02-29 13257803 ns5:DeferredTaxation 2025-02-28 13257803 ns10:OrdinaryShareClass1 2025-02-28 13257803 ns5:RetainedEarningsAccumulatedLosses 2024-02-29 13257803 1 2024-03-01 2025-02-28

REGISTERED NUMBER: 13257803 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

TR MACHINERY LTD

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 4 |

Income Statement | 8 |

Other Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Notes to the Financial Statements | 12 |

TR MACHINERY LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 28 FEBRUARY 2025

| DIRECTORS: | R V W Pugh

| Mrs C A Pugh

| REGISTERED OFFICE: | Mellington

| Churchstoke

| Montgomery

| Powys

| SY15 6TQ

| REGISTERED NUMBER: | 13257803 (England and Wales)

| AUDITORS: | D.R.E. & Co. (Audit) Limited

| 7 Lower Brook Street

| Oswestry

| Shropshire

| SY11 2HG

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

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

Overall, turnover has increased by 14.79% in 2025 compared to 2024. In addition to this, gross profit has also increased, and the gross profit percentage this year is 11.93% compared to 10.64% in the previous year. The net profit percentage has however slightly declined at 6.00% this year compared to 7.95% in the previous year. The industry average for net profit percentage remains at 1% so this indicates that the company is performing well within its sector. Return on capital employed and return on equity remain healthy. The company uses the above as KPIs and is pleased to see the improvement in gross profit and net profit.

PRINCIPAL RISKS AND UNCERTAINTIES

Competition is a significant risk to the company, as the Agricultural Machinery industry is a highly saturated market. The directors look to mitigate this risk by providing high quality machinery, excellent customer service and ensuring that high levels of stock are held to ensure that custom is not lost to a competitor.

ON BEHALF OF THE BOARD:

R V W Pugh - Director

30 October 2025

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

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.

DIVIDENDS

No dividends will be distributed for the year ended 28 February 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

R V W Pugh

Mrs C A Pugh

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 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.

AUDITORS

The auditors, D.R.E. & Co. (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R V W Pugh - Director

30 October 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TR MACHINERY LTD

Opinion

We have audited the financial statements of TR Machinery Ltd (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

TR MACHINERY LTD

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 three, 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

TR MACHINERY LTD

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 as follows:

-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other

management, and from our commercial knowledge and experience of the client's operating sector;

-we 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, taxation legislation, employment,

environmental and health and safety legislation;

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of

management; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to

instances of non-compliance throughout the audit.

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 as to their knowledge of actual, suspected and alleged fraud; and

-reviewing the client's system notes and internal controls.

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 set out in note 3 were indicative of potential bias;

-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;

- reading the minutes of meetings of those charged with governance;

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TR MACHINERY LTD

-reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware 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.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

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.

Francis Nock F.C.C.A (Senior Statutory Auditor)

for and on behalf of D.R.E. & Co. (Audit) Limited

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

30 October 2025

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

INCOME STATEMENT

FOR THE YEAR ENDED 28 FEBRUARY 2025

| 28.2.25 |  | 29.2.24

| Notes | £ | £ |

TURNOVER | 4 | 16,187,858 |  | 14,101,985 |  |

Cost of sales | (14,256,464 | ) | (12,601,455 | ) |

GROSS PROFIT | 1,931,394 |  | 1,500,530 |  |

Administrative expenses | (785,374 | ) | (421,555 | ) |

1,146,020 |  | 1,078,975 |  |

Other operating income | 22,058 |  | 193,134 |  |

OPERATING PROFIT | 6 | 1,168,078 |  | 1,272,109 |  |

Interest receivable and similar income | 162 |  | 563 |  |

1,168,240 |  | 1,272,672 |  |

Interest payable and similar expenses | 8 | (196,021 | ) | (150,977 | ) |

PROFIT BEFORE TAXATION | 972,219 |  | 1,121,695 |  |

Tax on profit | 9 | (243,199 | ) | (278,369 | ) |

PROFIT FOR THE FINANCIAL YEAR | 729,020 |  | 843,326 |  |

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 28 FEBRUARY 2025

| 28.2.25 |  | 29.2.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 729,020 |  | 843,326 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 729,020 |  | 843,326 |  |

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

BALANCE SHEET

28 FEBRUARY 2025

| 28.2.25 | 29.2.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 1,874,047 |  | 1,641,120 |  |

CURRENT ASSETS

Stocks | 11 | 6,205,588 |  | 7,849,057 |  |

Debtors | 12 | 1,305,421 |  | 1,700,844 |  |

Cash in hand | 72 |  | 80 |  |

7,511,081 |  | 9,549,981 |  |

CREDITORS

Amounts falling due within one year | 13 | 7,169,051 |  | 9,826,088 |  |

NET CURRENT ASSETS/(LIABILITIES) | 342,030 |  | (276,107 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,216,077 |  | 1,365,013 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (173,567 | ) | (109,755 | ) |

PROVISIONS FOR LIABILITIES | 18 | (468,512 | ) | (410,280 | ) |

NET ASSETS | 1,573,998 |  | 844,978 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 1,000 |  | 1,000 |  |

Retained earnings | 20 | 1,572,998 |  | 843,978 |  |

SHAREHOLDERS' FUNDS | 1,573,998 |  | 844,978 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

R V W Pugh - Director

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 28 FEBRUARY 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 March 2023 | 1,000 |  | 652 |  | 1,652 |  |

Changes in equity

Total comprehensive income | - |  | 843,326 |  | 843,326 |  |

Balance at 29 February 2024 | 1,000 |  | 843,978 |  | 844,978 |  |

Changes in equity

Total comprehensive income | - |  | 729,020 |  | 729,020 |  |

Balance at 28 February 2025 | 1,000 |  | 1,572,998 |  | 1,573,998 |  |

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1. | STATUTORY INFORMATION

| TR Machinery Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| These financial statements are for the individual entity only.

| The financial statements are presented in Sterling (£), rounded to the nearest £1.

| 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 requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

| • | the requirements of paragraphs 29.28(b) and 29.29;

| • | the requirement of paragraph 33.7;

| • | the requirements of paragraph 24(b) of IFRS 6.

| Significant judgements and estimates

| 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.

| The company provides against the stock it holds based on the age profile of the units held utilising management's past experience and anticipated future market trends. See note 9 for the net carrying amount of stock.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Improvements to property | - | 25% on reducing balance

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

| Motor vehicles | - | 25% on reducing balance

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

3. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks and work in progress 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 method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| 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.

| 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.

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

3. | ACCOUNTING POLICIES - continued

| Basic financial instruments

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs, and then subsequently measured at amortised cost. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some risks and rewards of ownership are retained but control of the assets has transferred to another party that is able to sell the asset in its entirety to an unrelated party.

| Basic financial liabilities, including creditors and loans, are initially recognised at transaction price unless the

| arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

4. | TURNOVER

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

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

| 28.2.25 |  | 29.2.24

£ | £ |

| United Kingdom | 15,808,158 |  | 13,242,235 |  |

| Europe | 379,700 |  | 859,750 |  |

16,187,858 |  | 14,101,985 |  |

5. | EMPLOYEES AND DIRECTORS

| 28.2.25 |  | 29.2.24

£ | £ |

| Wages and salaries | 361,868 |  | 305,300 |  |

| Social security costs | 34,888 |  | 30,577 |  |

| Other pension costs | 6,673 |  | 6,421 |  |

403,429 |  | 342,298 |  |

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

| 28.2.25 |  | 29.2.24

| Other | 8 |  | 7 |  |

| 28.2.25 |  | 29.2.24

£ | £ |

| Directors' remuneration | - |  | 3,577 |  |

| Directors' pension contributions to money purchase schemes | - |  | 92 |  |

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

6. | OPERATING PROFIT

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Other operating leases | 57,976 |  | 17,727 |  |

| Depreciation - owned assets | 140,628 |  | 19,397 |  |

| Depreciation - assets on hire purchase contracts | 267,877 |  | 290,387 |  |

| Profit on disposal of fixed assets | (121,202 | ) | (67 | ) |

7. | AUDITORS' REMUNERATION

| 28.2.25 |  | 29.2.24

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 11,150 |  | 13,300 |  |

| Auditors' remuneration for non audit work | 65 |  | - |  |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 28.2.25 |  | 29.2.24

£ | £ |

| Bank & HP interest | 196,021 |  | 150,977 |  |

9. | TAXATION

| Analysis of the tax charge

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Current tax:

| UK corporation tax | 184,967 |  | 111,295 |  |

| Deferred tax | 58,232 |  | 167,074 |  |

| Tax on profit | 243,199 |  | 278,369 |  |

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

9. | TAXATION - continued

| 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:

| 28.2.25 |  | 29.2.24

£ | £ |

| Profit before tax | 972,219 |  | 1,121,695 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 243,055 |  | 280,424 |  |

| Effects of:

| Expenses not deductible for tax purposes | 125 |  | 100 |  |

| Capital allowances in excess of depreciation | (59,869 | ) | (167,074 | ) |

| Employers pension contribution movement | 19 |  | 155 |  |

| Corporation tax rate movement (including marginal relief) | - |  | (2,310 | ) |

| Deferred tax movement | 58,232 |  | 167,074 |  |

| Net chargeable gains | 1,637 |  | - |  |

| Total tax charge | 243,199 |  | 278,369 |  |

10. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Plant and |  | Motor |

| property |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 March 2024 | - |  | 2,059,050 |  | 44,146 |  | 2,103,196 |  |

| Additions | 11,863 |  | 794,353 |  | 21,000 |  | 827,216 |  |

| Disposals | - |  | (303,890 | ) | - |  | (303,890 | ) |

| At 28 February 2025 | 11,863 |  | 2,549,513 |  | 65,146 |  | 2,626,522 |  |

| DEPRECIATION

| At 1 March 2024 | - |  | 453,799 |  | 8,277 |  | 462,076 |  |

| Charge for year | - |  | 396,913 |  | 11,592 |  | 408,505 |  |

| Eliminated on disposal | - |  | (118,106 | ) | - |  | (118,106 | ) |

| At 28 February 2025 | - |  | 732,606 |  | 19,869 |  | 752,475 |  |

| NET BOOK VALUE

| At 28 February 2025 | 11,863 |  | 1,816,907 |  | 45,277 |  | 1,874,047 |  |

| At 29 February 2024 | - |  | 1,605,251 |  | 35,869 |  | 1,641,120 |  |

| Plant and machinery with a carrying value of £593,304 (2024: £822,847) are held under hire purchase agreements.

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

11. | STOCKS

| 28.2.25 |  | 29.2.24

£ | £ |

| Stocks | 6,193,588 |  | 7,832,357 |  |

| Work-in-progress | 12,000 |  | 16,700 |  |

6,205,588 |  | 7,849,057 |  |

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Trade debtors | 1,037,220 |  | 1,430,297 |  |

| Prepayments and accrued income | 268,201 |  | 270,547 |  |

1,305,421 |  | 1,700,844 |  |

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Bank loans and overdrafts (see note 15) | 260,656 |  | 179,579 |  |

| Hire purchase contracts (see note 16) | 305,187 |  | 382,968 |  |

| Trade creditors | 486,979 |  | 505,936 |  |

| Tax | 184,941 |  | 111,295 |  |

| Social security and other taxes | 12,087 |  | 9,944 |  |

| VAT | 30,157 |  | 205,181 |  |

| Amounts due to group undertaking | 4,180,315 |  | 2,603,875 |  |

| Accruals and deferred income | 1,708,729 |  | 5,827,310 |  |

7,169,051 |  | 9,826,088 |  |

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Hire purchase contracts (see note 16) | 173,567 |  | 109,755 |  |

15. | LOANS

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

| 28.2.25 |  | 29.2.24

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 260,656 |  | 179,579 |  |

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

16. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

| 28.2.25 |  | 29.2.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 305,187 |  | 382,968 |  |

| Between one and five years | 173,567 |  | 109,755 |  |

478,754 |  | 492,723 |  |

17. | SECURED DEBTS

| The following secured debts are included within creditors:

| 28.2.25 |  | 29.2.24

£ | £ |

| Bank overdrafts | 260,656 |  | 179,579 |  |

| Hire purchase contracts | 478,754 |  | 492,723 |  |

739,410 |  | 672,302 |  |

| Barclays Bank plc hold a debenture including a fixed charge over all freehold and leasehold property

| including fixtures and fittings, fixed plant and machinery and books and other debts, all securities and trade

| debts; along with a floating charge over all other assets. This charge was registered on 07/06/2023.

| All hire purchase contracts are secured against the assets to which they relate.

18. | PROVISIONS FOR LIABILITIES

| 28.2.25 |  | 29.2.24

£ | £ |

| Deferred tax | 468,512 |  | 410,280 |  |

| Deferred |

| tax |

£ |

| Balance at 1 March 2024 | 410,280 |  |

| Provision movement | 58,232 |  |

| Balance at 28 February 2025 | 468,512 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 28.2.25 |  | 29.2.24

| value: | £ | £ |

| 1,000 | Ordinary | 1 | 1,000 |  | 1,000 |  |

TR MACHINERY LTD (REGISTERED NUMBER: 13257803)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

19. | CALLED UP SHARE CAPITAL - continued

| The Ordinary shares have full voting rights, are eligible for dividends and carry the right to participate in a distribution (including on winding up).

20. | RESERVES

| Retained

| earnings

£ |

| At 1 March 2024 | 843,978 |  |

| Profit for the year | 729,020 |  |

| At 28 February 2025 | 1,572,998 |  |

| Retained earnings includes all current and prior period retained profits and losses.

21. | CONTINGENT LIABILITIES

| The group companies, R.V.W Pugh Group Limited, RVW Pugh Limited, and T R Machinery Limited entered into a cross guarantee agreement with AGCO Finance Ltd. As at the year end the potential contingent liability for T R Machinery Limited amounted to £5,045,357 (2024: £3,952,426).

| The group companies, R.V.W Pugh Group Limited, RVW Pugh Limited, and T R Machinery Limited entered

| into a cross guarantee agreement with Barclays Bank PLC on 7th June 2023. As at the year end the potential contingent liability for T R Machinery Limited amounted to £1,269,263 (2024: £1,036,683).

22. | 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.

| The ultimate parent company is RVW Pugh Group Ltd, registered in England and Wales. RVW Pugh Group Ltd is the parent of the largest and smallest group for which consolidated financial statements are prepared which include TR Machinery Ltd. The registered office of the ultimate parent company is the same as that of TR Machinery Ltd. Group accounts are freely available from Companies House.

23. | POST BALANCE SHEET EVENTS

| In November 2025 it is expected that the trade of TR Machinery Ltd will be transferred to another subsidiary within the group.

24. | ULTIMATE CONTROLLING PARTY

| RVW Pugh and Mrs CA Pugh are the ultimate controlling party due to their 100% shareholding in RVW Pugh Group Ltd.