REGISTERED NUMBER: 06816750 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2025

for

H R F Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

9

Consolidated Income Statement

12

Consolidated Other Comprehensive Income

13

Consolidated Balance Sheet

14

Company Balance Sheet

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Cash Flow Statement

18

Notes to the Consolidated Cash Flow Statement

19

Notes to the Consolidated Financial Statements

20

DIRECTORS:

P Forker

Ms B M Forker

Ms H Boyle

Ms R Curran

SECRETARIES:

Ms H Boyle

Ms R Curran

REGISTERED OFFICE:

Golds Green House

Shaw Street

West Bromwich

West Midlands

B70 0TX

REGISTERED NUMBER:

06816750 (England and Wales)

SENIOR STATUTORY AUDITOR:

Susanna D Ault FCCA ACA

AUDITORS:

Tomkinson Teal (Lichfield) LLP

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

SOLICITORS:

Wright Hassall LLP

Olympus Avenue

Leamington Spa

Warwickshire

CV34 6BF

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS

The comments made by the directors in their last strategic report have been reflected in the group's results for the year ended 31 March 2025..

The group's turnover for the year was 84% higher than that of the previous year being £93,702,260 (2024: £50,838,246).

The increase in turnover was driven by increased workload on the civils side of the business, including a motorway contract valued at £22m which the group began and completed during the year. This also had a positive impact on profits during the year.

There are no further motorway contracts in the current pipeline.

The Asset Management Period 7 (AMP7) in the UK water industry, which ran from 2020 to 2025, concluded on 31March 2025. To meet regulatory requirements, the conclusion of AMP7 led to an increased workload for the group within the year.

Net cash at the end of the year, increased from £20.1m to £22.2m despite the demand for working capital to support the increased turnover.

Shareholder equity in the company increased to £24,317,802 (2024: £20,553,021).

AMP8, the eighth Asset Management Period for the UK water industry, officially began on 1 April 2025. The start of AMP8 has been slow, but this was expected as similar trends have been apparent in previous AMPs. The current lack of motorway contracts and the slow start of AMP8 will lead to a reduction in turnover during this financial year compared to the last financial year. The directors are expecting turnover in the region of £50m during this financial year. The reduction in turnover may impact profitability.

The reduction in turnover is expected to be temporary. The well publicised need for investment by water companies in their existing infrastructure and the need to create additional capacity means that their expenditure within these frameworks is expected to be much higher than previous regulatory periods.

The business obtained a new framework client during the year. The directors believe this will lead to exciting new opportunities for the business in the coming years.

The company currently holds four framework agreements with substantial clients, two in the water industry, one in environmental work and a further in work relating to waterways.

All this work relates to the beneficial health of the country and the directors are confident work will continue for many years into the future.

The directors thank all the group's employees for their continuing work in helping the group to achieve the successful outcomes now and going forward.

With an additional water company added to our existing client portfolio, we consider the Group to be in a very strong position.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors recognise that the group's operations expose it to a number of risks which could impact performance, reputation, and long-term sustainability. These risks are actively monitored and managed through robust governance, control frameworks, and ongoing investment in people, systems, and processes. The principal risks and uncertainties currently affecting Forkers are set out below.

________________________________________

Environmental and Sustainability Risks

Description: Increasing expectations from clients, regulators, and other stakeholders to demonstrate strong environmental, social, and governance (ESG) performance may affect the group's operations, competitiveness, and reputation.

Mitigation: The group continues to strengthen its ESG strategy and reporting, utilising recognised sustainability platforms such as EcoVadis. Environmental performance and carbon reduction initiatives are embedded across projects, supported by regular monitoring and continuous improvement.

________________________________________

Talent and Workforce Risk

Description: The ability to attract, retain, and develop skilled employees is critical to maintaining operational excellence and supporting future growth. A shortage of qualified personnel within the sector could limit delivery capacity and innovation.

Mitigation: The group offers competitive remuneration packages, clear career development pathways, and ongoing professional training. Strong emphasis is placed on employee engagement, wellbeing, and maintaining a positive, inclusive culture.

________________________________________

Workload and Market Cycles

Description: Fluctuations in workload, particularly during transitions between water authority Asset Management Plan (AMP) cycles, can lead to reduced utilisation and revenue volatility.

Mitigation: The group mitigates this exposure by maintaining relationships with a broad range of framework clients across multiple sectors and geographical regions, thereby balancing workload between different investment cycles.

________________________________________

Cybersecurity and Data Privacy

Description: The increasing frequency and sophistication of cyber threats present ongoing risks to data integrity, confidentiality, and business continuity.

Mitigation: The group invests in strong IT security infrastructure, regular penetration testing, and continuous system monitoring. Comprehensive staff training and awareness programmes reinforce data protection responsibilities and minimise human error.

________________________________________

Health and Safety Performance

Description: The construction and ground engineering environment involves activities with inherent health and safety risks. Failure to maintain high standards could result in injury, delays, or reputational harm.

Mitigation: The group places health and safety at the forefront of its culture. Additional SHEQ professionals have been recruited to mentor and train employees, reinforcing a proactive approach to safety management and continual improvement in performance.

________________________________________

Operational Risk

Description: Risks arising from internal processes, systems failures, supply chain disruption, or human error could affect contract delivery, quality, or client satisfaction.

Mitigation: Continuous improvements are being made to business systems and resilience measures. The group maintains a comprehensive business continuity plan, rigorous quality control processes, and invests in staff training to ensure operational reliability and client confidence.

________________________________________

Summary

The Directors are satisfied that appropriate systems are in place to identify, monitor, and manage the principal risks and uncertainties facing the business. These processes ensure that the group remains resilient and well positioned to deliver on its strategic objectives in a controlled and sustainable manner.

SECTION 172(1) STATEMENT

The Board of Directors confirm it has performed its duties in respect of section 172 of the Companies act 2006.

Specifically, the Board has considered long term factors that affect the Group's strategic directions.

The Board has engaged with its stakeholders, which assist the board in its decision-making process and in fulfilling its duty to promote the success of the Group as set out in Section 172

The Board has fulfilled their duties as follows:

On an ongoing basis, the board assess the major risks affecting the Group and develop appropriate responses to address those risks in an efficient and affective manner. This is taken into consideration when setting goals, budgets and forecasting financial performance. This ensures that the Group understands the financial impact of these risks and can respond to them on a timely basis.

Employees are a key to H R F Holdings success. The Group engages with employees on a regular basis. Weekly meetings are held with all Supervisory staff to monitor health and safety performance and compliance. Monthly meetings are held with Senior Management team to cover such topics as; Health & Safety, customer care, sustainability/environment, financial performance, training and compliance.

The Group invests in the future of the business and has a successful mentoring plan to encourage young people into the Group.

H R F Holdings aims to exceed its customers' expectations. We do this through communication and building strong business relationships with our clients. We further promote H R F Holdings closely with our suppliers and our local communities. We understand our responsibility with our community and work hard to show how important that relationship is to the Group.

FINANCIAL RESULTS

The profit for the year, before taxation, amounted to £5,702,902 (2024: £4,334,006).

KEY PERFORMANCE INDICATORS

The group maintains a program of producing monthly financial and management reports that show the directors how the group is progressing.

The management reports are discussed with senior staff at monthly meetings.

KPIs in respect of the group's work performance are examined by larger clients and scored in respect of the level of success achieved by the group. A bad score may lead to the group not receiving future work.

ON BEHALF OF THE BOARD:

Ms H Boyle - Secretary

20 November 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of civil engineering working on projects relating to industries engaged in motor manufacturing, renewable energy projects, utilities including the water industry, rail and road maintenance, ground reclamation and stabilization including mine infilling.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 229,460 .

DIRECTORS

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

P Forker

Ms B M Forker

Ms H Boyle

Ms R Curran

POLITICAL DONATIONS AND EXPENDITURE

All donations made in the year to 31 March 2025 were to non-political charitable organisations.

EMPLOYEES

The group is very fortunate in having staff that work to a standard that complies with the group's ethos and appreciates the efforts and support given.The group has recently been engaging more staff as the group's turnover continues to increase.

Every effort is made that all employees are suited to their respective roles within the group.

Regular reviews are conducted with individual staff members to assess their progress at the group and to listen to their views. On occasions a member of staff may be moved to another position more suitable at the group.

The group has set up health and safety and mental health committees that meet on a regular basis to discuss up to date information received from the various agencies.

Any problems a member of staff has can be discussed with their line manager who in turn can bring it to the attention of one of the committees.

Annual medicals are arranged for all staff.

The group is an equal opportunity employer.

All staff are encouraged to attend training courses and toolbox talks and obtain the necessary certificates for their individual roles in the group. The certificates are required to enable the group to obtain the appropriate training grants from the CITB. Without the necessary certificates the group is not able to carry out work for certain motor clients.

The group offers apprenticeships for both office and site staff as it recognises the need to in the future fill any vacancies that become available.

ENVIRONMENTAL MATTERS

The group has replaced more than 85% of its fleet of polluting diesel cars with electric and hybrid/petrol ones to help with the challenge against climate change.

It is also increasing it's use of battery powered machinery

H R F Holdings have employed a suitably qualified Sustainability lead to help with our clients Net Zero ambitions.

SUSTAINABILITY

In the group's commitment to sustainability, H R F Holdings has taken significant strides towards minimizing our environmental impact and reducing our carbon emissions. At the core of our sustainability journey is the employment of a dedicated professional whose expertise enables us to integrate sustainable practices into every area of our operations. We record and monitor various metrics, including carbon emissions, waste generation, and other environmental factors through our supply chain.

We have established a Science-Based Target (SBT), an essential step that aligns our carbon reduction goals with the latest climate science. This target not only drives our efforts to reduce carbon emissions but also ensures that our strategies are in line with global climate goals. Our commitment to sustainability is demonstrated through our partnership with EcoVadis, a leading sustainability ratings platform. By engaging with EcoVadis, we are held accountable to rigorous sustainability standards, guiding our continuous improvement efforts, and ensuring transparency in our practices.

One of our notable, ongoing initiatives in renewable energy includes the installation of solar panels on the roof of our yard warehouse. When completed, this will not only reduce our reliance on fossil fuels but also significantly cuts down our carbon footprint, by providing renewable electricity for our head office and plant yard. We have also started to use electric plant equipment, a testament to our dedication to transitioning away from traditional energy sources to sustainable alternatives. This plant equipment not only powers our operations but also sets an example for the industry, demonstrating the feasibility and advantages of embracing clean energy solutions.

Our sustainability journey is marked by comprehensive efforts, from rigorous monitoring and setting science-based targets to strategic partnerships, renewable energy investments, and embracing electric technology. These initiatives underscore our dedication to growing sustainability, ensuring that our construction activities not only meet the needs of the present but also preserve the planet for generations to come.

FUTURE DEVELOPMENTS

The group is endeavoring to obtain more work linked with the fight against climate change and has made connections with major companies involved in this field of work.

STREAMLINED ENERGY AND CARBON REPORTING

Executive Summary

Forkers Limited, with company number 01073245, presents this report summarising our energy usage, associated emissions, energy efficiency actions, and energy performance for the financial year ending 31 March 2025. This report complies with the requirements of the Streamlined Energy and Carbon Reporting (SECR) framework, as implemented by the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

The SECR disclosures are mandatory for listed and large unlisted UK companies with reporting cycles beginning on or after 1 April 2019. As a company falling in scope, we are required to report on our energy consumption, greenhouse gas emissions, intensity ratios, and the energy efficiency measures we have taken or plan to implement. This is the first year that Forkers Limited has met the criteria by annual turnover and balance sheet total, necessitating the submission of this report.

Forkers Limited is committed to continuing our efforts to improve energy efficiency and reduce emissions, contributing positively to environmental sustainability.

1. Introduction

This report outlines the energy use, greenhouse gas emissions, and energy efficiency actions taken by Forkers Limited (Company Number: 01073245) for the financial year ending 31 March 2025. The report complies with the requirements of the Streamlined Energy and Carbon Reporting (SECR) framework.

2. Energy Consumption

The company has been unable to obtain complete and reliable underlying energy-consumption data (kWh) for the reporting period. Management has assessed that sourcing this data would involve disproportionate cost, and therefore UK energy-consumption figures are not disclosed in accordance with SECR provisions.

The company has, however, been able to calculate its greenhouse gas emissions (Scope 1 and Scope 2) using available activity data, set out below.

3. Greenhouse Gas (GHG) Emissions

3.1. Emissions by Source

- Gas: 2,233.56 tonnes CO2e

- Electricity: 66.52 tonnes CO2e

- Transport: 905.33 tonnes CO2e

3.2. Emissions by Scope

Scope 1 (Direct emissions): 3,1389.89 tonnes CO2e

Scope 2 (Indirect emissions from purchased electricity): 66.52 tonnes CO2e

Scope 3 (Other indirect emissions): 0 tonnes CO2e

3.3. Total Emissions

Total Emissions: 3,205.41 tonnes CO2e

3.4. Intensity Ratios

Emissions per unit of turnover: 34.99 tonnes CO2e/£m turnover

Emissions per employee: 20.41 tonnes CO2e/employee

4. Energy Efficiency Actions

The company has assessed whether any energy-efficiency or carbon-reduction measures were undertaken during the year. For the year ended 31 March 2025, the company is not aware of any energy-efficiency actions taken that meet the SECR requirement for disclosure.

5. Compliance

The directors of Forkers Limited are responsible for complying with the SECR Regulations. They must be satisfied that, to the best of their knowledge, all relevant information concerning Forkers Limited's organization structure, properties, activities, and energy supplies has been provided accurately. This includes details of any complex ownership structures, such as private equity funds or franchises for private finance initiatives, and electricity/gas usage covered by EU Emissions Trading Scheme (ETS) or Climate Change Agreements (CCA) scheme generated on-site (including Combined Heat and Power (CHP)), or supplied to/from a third party (i.e., not a licensed energy supplier or a landlord/tenant).

6. Reporting Methodology

6.1. Data Collection

Data Sources: Meter readings and data reports for electricity and gas, mileage records for transport

Collection Methods: Monthly readings, mileage readings from vehicles.

6.2. Calculation Methods

Conversion Factors: 2025 UK Government GHG Conversion Factors for Company Reporting.

GHG Protocol Standards: Followed the GHG Reporting Protocol for Scope 1, Scope 2, and Scope 3 emissions.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Tomkinson Teal (Lichfield) LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ms H Boyle - Secretary

20 November 2025

Opinion

We have audited the financial statements of H R F Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 Directors' Responsibilities Statement set out on pages seven and eight, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors and other management. We discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Susanna D Ault FCCA ACA (Senior Statutory Auditor)

for and on behalf of Tomkinson Teal (Lichfield) LLP

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

20 November 2025

TURNOVER

3

93,702,260

50,838,246

Cost of sales

(81,697,360

)

(40,184,403

)

GROSS PROFIT

12,004,900

10,653,843

Administrative expenses

(7,565,975

)

(7,231,993

)

4,438,925

3,421,850

Other operating income

218,582

303,350

OPERATING PROFIT

5

4,657,507

3,725,200

Interest receivable and similar income

878,834

610,711

5,536,341

4,335,911

Interest payable and similar expenses

7

-

(1,905

)

PROFIT BEFORE TAXATION

5,536,341

4,334,006

Tax on profit

8

(1,542,100

)

(939,424

)

PROFIT FOR THE FINANCIAL YEAR

3,994,241

3,394,582

Profit attributable to:

Owners of the parent

3,994,241

3,394,582

PROFIT FOR THE YEAR

3,994,241

3,394,582

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,994,241

3,394,582

Total comprehensive income attributable to:

Owners of the parent

3,994,241

3,394,582

FIXED ASSETS

Tangible assets

11

754,019

145,261

Investments

12

-

-

754,019

145,261

CURRENT ASSETS

Stocks

13

607,543

1,931,917

Debtors

14

14,333,135

7,702,941

Cash at bank and in hand

22,173,286

20,096,632

37,113,964

29,731,490

CREDITORS

Amounts falling due within one year

15

(13,367,772

)

(9,295,429

)

NET CURRENT ASSETS

23,746,192

20,436,061

TOTAL ASSETS LESS CURRENT LIABILITIES

24,500,211

20,581,322

PROVISIONS FOR LIABILITIES

16

(182,409

)

(28,301

)

NET ASSETS

24,317,802

20,553,021

CAPITAL AND RESERVES

Called up share capital

17

5,002

5,002

Retained earnings

18

24,312,800

20,548,019

SHAREHOLDERS' FUNDS

24,317,802

20,553,021

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

Ms H Boyle - Director

Ms R Curran - Director

FIXED ASSETS

Tangible assets

11

-

-

Investments

12

5,002

5,002

5,002

5,002

CURRENT ASSETS

Cash at bank

100

-

CREDITORS

Amounts falling due within one year

15

(100

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

5,002

5,002

CAPITAL AND RESERVES

Called up share capital

17

5,002

5,002

SHAREHOLDERS' FUNDS

5,002

5,002

Company's profit for the financial year

229,460

100,000

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

Ms H Boyle - Director

Ms R Curran - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

5,002

17,253,437

17,258,439

Changes in equity

Dividends

-

(100,000

)

(100,000

)

Total comprehensive income

-

3,394,582

3,394,582

Balance at 31 March 2024

5,002

20,548,019

20,553,021

Changes in equity

Dividends

-

(229,460

)

(229,460

)

Total comprehensive income

-

3,994,241

3,994,241

Balance at 31 March 2025

5,002

24,312,800

24,317,802

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

5,002

-

5,002

Changes in equity

Dividends

-

(100,000

)

(100,000

)

Total comprehensive income

-

100,000

100,000

Balance at 31 March 2024

5,002

-

5,002

Changes in equity

Dividends

-

(229,460

)

(229,460

)

Total comprehensive income

-

229,460

229,460

Balance at 31 March 2025

5,002

-

5,002

Cash flows from operating activities

Cash generated from operations

1

3,689,497

7,337,717

Interest paid

-

(1,905

)

Tax paid

(1,612,931

)

(721,745

)

Net cash from operating activities

2,076,566

6,614,067

Cash flows from investing activities

Purchase of tangible fixed assets

(653,522

)

(23,799

)

Interest received

878,834

610,711

Net cash from investing activities

225,312

586,912

Cash flows from financing activities

New loans in year

-

554,931

Amount introduced by directors

4,236

18

Amount withdrawn by directors

-

(9,004

)

Equity dividends paid

(229,460

)

(100,000

)

Net cash from financing activities

(225,224

)

445,945

Increase in cash and cash equivalents

2,076,654

7,646,924

Cash and cash equivalents at beginning of year

2

20,096,632

12,449,708

Cash and cash equivalents at end of year

2

22,173,286

20,096,632

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

2025

2024

£

£

Profit before taxation

5,536,341

4,334,006

Depreciation charges

44,764

36,314

Finance costs

-

1,905

Finance income

(878,834

)

(610,711

)

4,702,271

3,761,514

Decrease/(increase) in stocks

1,324,374

(220,127

)

(Increase)/decrease in trade and other debtors

(6,254,403

)

3,416,393

Increase in trade and other creditors

3,917,255

379,937

Cash generated from operations

3,689,497

7,337,717

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

22,173,286

20,096,632

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

20,096,632

12,449,708

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

20,096,632

2,076,654

22,173,286

20,096,632

2,076,654

22,173,286

Total

20,096,632

2,076,654

22,173,286

1.	STATUTORY INFORMATION

H R F 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company HRF Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group's share of its interests in joint ventures and associates.

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.