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REGISTERED NUMBER: 01990244 (England and Wales)

Financial Statements for the Year Ended 30 April 2025

for

Thorworld Industries Limited

| Thorworld Industries Limited (Registered number: 01990244) |

Contents of the Financial Statements

for the Year Ended 30 April 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Thorworld Industries Limited |

Company Information

for the Year Ended 30 April 2025

| DIRECTORS: | Mr John Meale

| Mrs Geraldine Anne Meale

| Mr Mark Adam James

| Mr Ian James Langan

| Mr Brendan Liam Wilson

| Miss Anna Victoria Meale

| Mrs Alexandra Louise Onions

| SECRETARY: | Mr Brendan Liam Wilson

| REGISTERED OFFICE: | Unit 37 Station Lane Industrial Estate

| Old Whittington

| Chesterfield

| Derbyshire

| S41 9QX

| REGISTERED NUMBER: | 01990244 (England and Wales)

| INDEPENDENT AUDITORS: | Landin Wilcock & Co

| Statutory Auditor

| 68 Queen Street

| Sheffield

| South Yorkshire

| S1 1WR

| BANKERS: | National Westminster Bank plc

| 5A Market Place

| Chesterfield

| S40 1TW

| Thorworld Industries Limited (Registered number: 01990244) |

Balance Sheet

30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 1,836 |  | 2,206 |  |

Tangible assets | 5 | 829,548 |  | 891,366 |  |

Investments | 6 | 100 |  | 100 |  |

831,484 |  | 893,672 |  |

CURRENT ASSETS

Stocks | 521,287 |  | 467,258 |  |

Debtors | 7 | 413,366 |  | 533,591 |  |

Cash at bank and in hand | 856,213 |  | 826,754 |  |

1,790,866 |  | 1,827,603 |  |

CREDITORS

Amounts falling due within one year | 8 | (1,622,173 | ) | (1,610,390 | ) |

NET CURRENT ASSETS | 168,693 |  | 217,213 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,000,177 |  | 1,110,885 |  |

PROVISIONS FOR LIABILITIES | (206,687 | ) | (221,192 | ) |

NET ASSETS | 793,490 |  | 889,693 |  |

CAPITAL AND RESERVES

Called up share capital | 998 |  | 998 |  |

Capital redemption reserve | 2 |  | 2 |  |

Retained earnings | 792,490 |  | 888,693 |  |

793,490 |  | 889,693 |  |

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 10 December 2025 and were signed on its behalf by:

Mr Brendan Liam Wilson - Director

| Thorworld Industries Limited (Registered number: 01990244) |

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | STATUTORY INFORMATION

| Thorworld Industries 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Going concern

| The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing annual financial statements.

| Preparation of consolidated financial statements

| The financial statements contain information about Thorworld Industries Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| 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 with wholly owned subsidiaries within the group.

| Turnover

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

| Revenue on ramp rentals is recognised straight line over the rental period. Revenue from the sale of ramps (where the ramps are not classified as fixed assets) is recognised when the ramps are delivered to the customer.

| 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 the life of their validity.

| Development costs are being amortised evenly over their estimated useful life of five years.

| Thorworld Industries Limited (Registered number: 01990244) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Plant and machinery | - | 10% on reducing balance and 5% on cost

| Fixtures and fittings | - | 25% on cost and 10% on reducing balance

| Ramps manufactured by the company are recognised as stocks unless the ramp is used as part of the rental fleet and remains unsold for three months from the date of manufacture. In such cases, the ramp is capitalised and treated as plant and machinery.

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs include expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively, if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

| 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.

| Financial instruments

| Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 asset of the company after deducting all of its liabilities.

| 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.

| Thorworld Industries Limited (Registered number: 01990244) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

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

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

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

| Foreign currencies

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

| Hire purchase and leasing commitments

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 24 (2024 - 24 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 May 2024 | 10,896 |  |

| Additions | 530 |  |

| At 30 April 2025 | 11,426 |  |

| AMORTISATION

| At 1 May 2024 | 8,690 |  |

| Charge for year | 900 |  |

| At 30 April 2025 | 9,590 |  |

| NET BOOK VALUE

| At 30 April 2025 | 1,836 |  |

| At 30 April 2024 | 2,206 |  |

| Thorworld Industries Limited (Registered number: 01990244) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |

| machinery |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024 | 1,706,260 |  | 6,045 |  | 1,712,305 |  |

| Additions | 14,580 |  | 5,227 |  | 19,807 |  |

| Disposals | (34,403 | ) | - |  | (34,403 | ) |

| At 30 April 2025 | 1,686,437 |  | 11,272 |  | 1,697,709 |  |

| DEPRECIATION

| At 1 May 2024 | 816,069 |  | 4,870 |  | 820,939 |  |

| Charge for year | 61,719 |  | 351 |  | 62,070 |  |

| Eliminated on disposal | (14,848 | ) | - |  | (14,848 | ) |

| At 30 April 2025 | 862,940 |  | 5,221 |  | 868,161 |  |

| NET BOOK VALUE

| At 30 April 2025 | 823,497 |  | 6,051 |  | 829,548 |  |

| At 30 April 2024 | 890,191 |  | 1,175 |  | 891,366 |  |

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 100 |  |

| NET BOOK VALUE

| At 30 April 2025 | 100 |  |

| At 30 April 2024 | 100 |  |

| Thorworld Industries Limited (Registered number: 01990244) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

6. | FIXED ASSET INVESTMENTS - continued

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

| Thorworld Materials Handling Limited

| Registered office: 5th Floor, 5 Lapp's Quay, Cork, T12 RW7D, Ireland

| Nature of business: Handling of materials

| %

| Class of shares: | holding |

| Ordinary shares | 100.00 |

2025 | 2024 |

£ | £ |

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

| The company continued to be dormant for the period to 30 April 2025.

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

2025 | 2024 |

£ | £ |

| Trade debtors | 386,866 |  | 508,269 |  |

| Other debtors | 26,500 |  | 25,322 |  |

413,366 |  | 533,591 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 371,336 |  | 296,143 |  |

| Tax | 189,986 |  | 207,689 |  |

| Social security and other taxes | 32,130 |  | 17,004 |  |

| VAT | 85,434 |  | 109,697 |  |

| Other creditors | 19,634 |  | 19,629 |  |

| Unpaid pension contributions | 4,522 |  | 4,725 |  |

| Directors' current accounts | 371,903 |  | 275,430 |  |

| Accruals and deferred income | 547,228 |  | 680,073 |  |

1,622,173 |  | 1,610,390 |  |

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

| The Report of the Auditors was unqualified.

| Tom Henshaw (Senior Statutory Auditor)

| for and on behalf of Landin Wilcock & Co

10. | OTHER FINANCIAL COMMITMENTS

| The total amount of financial commitments not include in the balance sheet is £88,135 (2024 - £98,459). These commitments are non-cancellable operating leases for the company's vehicles, plant and equipment.