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REGISTERED NUMBER: 05198252 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

TOWER HOLDINGS LIMITED

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 3 |

| Consolidated Income Statement | 4 |

| Consolidated Other Comprehensive Income | 5 |

| Consolidated Balance Sheet | 6 |

| Company Balance Sheet | 8 |

| Consolidated Statement of Changes in Equity | 10 |

| Company Statement of Changes in Equity | 11 |

| Consolidated Cash Flow Statement | 12 |

| Notes to the Consolidated Cash Flow Statement | 13 |

| Notes to the Consolidated Financial Statements | 15 |

| TOWER HOLDINGS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 30 APRIL 2025

| DIRECTORS: | A S Wood

| E P Wood

| REGISTERED OFFICE: | 5 The Quadrant

| Coventry

| West Midlands

| CV5 6ET

| REGISTERED NUMBER: | 05198252 (England and Wales)

| ACCOUNTANTS: | Flint & Thompson

| 2 Manor Square

| Solihull

| West Midlands

| B91 3PX

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 APRIL 2025

The directors present their strategic report of the company and the group for the year ended 30 April 2025.

The group primarily trades as an electrical and mechanical contractor in the construction sector, providing plumbing, electrical, heating, and associated services within the new build and care provider market.

REVIEW OF BUSINESS

The Directors believe the business has performed well in a challenging year and market, while continued cost pressures from persistently high inflation impacting direct costs and overheads. Achieving a consistent operating margin remains a challenge due to the uncertainty of future cost fluctuations, but the directors review cost changes as they occur and are confident the Group can continue to operate profitably.

Turnover has increased by 28.4% to £18,434,235, due to an increase in new customers throughout the year, allowing the Group to remain competitive within the sector. Gross profit has in turn increased to £4,297,080 as the Group has successfully managed cost pressures during the year.

At the year end, the Group had cash available of £4,383,882 and net assets of £4,756,215.

PRINCIPAL RISKS AND UNCERTAINTIES

Staff:

Access to suitably trained staff remains a key risk to the Group, with shortages of skilled staff and above inflationary rises in pay across the sector leading to higher costs and higher turnover rates. The directors mitigate this risk with a series of internal policies designed to upskill, reward and retain existing staff.

Supply chain:

Supplier pricing and supply chain issues are a constant risk to the Groups business activities, with higher material prices leading to contractions in project margins. The directors mitigate this risk by maintaining their relationships with existing suppliers to ensure a timely supply of materials as required, and by maintaining an internal purchasing process which prevents overreliance on a single supplier or late ordering of goods.

PRINCIPAL RISKS AND UNCERTAINTIES (CONT)

Cash management/Credit risk:

All businesses suffer uncertainty around the recoverability of their receivables, but the directors actively review cash reserves within the group to ensure sufficient reserves are available for working capital, and controls around payment terms with customers and the recovery of debts helps to mitigate the risk associated with receivables.

The group does not utilise any external financing apart from hire purchase leases for business vehicles.

Health and Safety:

Working within the construction sector means that the Group takes the risk of a health & safety incident seriously, and the directors mitigate this risk by ensuring all staff undergo appropriate training and perform risk assessments. All staff on site for projects are CSCS certified to ensure that they are appropriately qualified for their roles. The Group maintains appropriate certifications in relation to health & safety compliance.

The directors are confident that the Group remains a competitive business in the market and that the level of service offered to their clients will continue to allow the business to continue to grow.

ON BEHALF OF THE BOARD:

A S Wood - Director

22 January 2026

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 APRIL 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2025.

DIVIDENDS

Dividends totalling £222,921 were paid during the year ended 30 April 2025.

DIRECTORS

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

A S Wood

E P Wood

Other changes in directors holding office are as follows:

A Dorrian ceased to be a director after 30 April 2025 but prior to the date of this report.

ON BEHALF OF THE BOARD:

A S Wood - Director

22 January 2026

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

CONSOLIDATED

INCOME STATEMENT

FOR THE YEAR ENDED 30 APRIL 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 18,834,235 |  | 14,671,875 |  |

Cost of sales | 14,537,155 |  | 13,347,580 |  |

GROSS PROFIT | 4,297,080 |  | 1,324,295 |  |

Administrative expenses | 1,699,634 |  | 1,278,808 |  |

OPERATING PROFIT | 4 | 2,597,446 |  | 45,487 |  |

Interest receivable and similar income | 43,719 |  | 34,458 |  |

2,641,165 |  | 79,945 |  |

Interest payable and similar expenses | 5 | 10,068 |  | 8,757 |  |

PROFIT BEFORE TAXATION | 2,631,097 |  | 71,188 |  |

Tax on profit | 6 | 637,698 |  | 38,009 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,993,399 |  | 33,179 |  |

Profit attributable to:

Owners of the parent | 1,993,399 |  | 33,179 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

CONSOLIDATED

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 APRIL 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,993,399 |  | 33,179 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,993,399 |  | 33,179 |  |

Total comprehensive income attributable to:

Owners of the parent | 1,993,399 |  | 33,179 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

CONSOLIDATED BALANCE SHEET

30 APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 746,102 |  | 611,066 |  |

Investments | 10 | - |  | - |  |

746,102 |  | 611,066 |  |

CURRENT ASSETS

Debtors | 11 | 2,987,730 |  | 2,911,201 |  |

Cash at bank | 4,383,882 |  | 1,797,981 |  |

7,371,612 |  | 4,709,182 |  |

CREDITORS

Amounts falling due within one year | 12 | 3,261,067 |  | 2,352,805 |  |

NET CURRENT ASSETS | 4,110,545 |  | 2,356,377 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,856,647 |  | 2,967,443 |  |

CREDITORS

Amounts falling due after more than one year | 13 | (42,001 | ) | (69,810 | ) |

PROVISIONS FOR LIABILITIES | 16 | (58,431 | ) | (61,896 | ) |

NET ASSETS | 4,756,215 |  | 2,835,737 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

CONSOLIDATED BALANCE SHEET - continued

30 APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 17 | 202 |  | 202 |  |

Retained earnings | 18 | 4,756,013 |  | 2,835,535 |  |

SHAREHOLDERS' FUNDS | 4,756,215 |  | 2,835,737 |  |

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2026 and were signed on its behalf by:

A S Wood - Director

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

COMPANY BALANCE SHEET

30 APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 504,337 |  | 354,337 |  |

Investments | 10 | 302 |  | 302 |  |

504,639 |  | 354,639 |  |

CURRENT ASSETS

Debtors | 11 | 1,738,522 |  | 1,487,315 |  |

Cash at bank | 2,516,319 |  | 1,421,925 |  |

4,254,841 |  | 2,909,240 |  |

CREDITORS

Amounts falling due within one year | 12 | 490,003 |  | 1,040,969 |  |

NET CURRENT ASSETS | 3,764,838 |  | 1,868,271 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,269,477 |  | 2,222,910 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 202 |  | 202 |  |

Retained earnings | 18 | 4,269,275 |  | 2,222,708 |  |

SHAREHOLDERS' FUNDS | 4,269,477 |  | 2,222,910 |  |

Company's profit for the financial year | 2,119,488 |  | 7,167 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

COMPANY BALANCE SHEET - continued

30 APRIL 2025

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 22 January 2026 and were signed on its behalf by:

A S Wood - Director

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 APRIL 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 May 2023 | 202 |  | 3,163,731 |  | 3,163,933 |  |

Changes in equity

Dividends | - |  | (361,375 | ) | (361,375 | ) |

Total comprehensive income | - |  | 33,179 |  | 33,179 |  |

Balance at 30 April 2024 | 202 |  | 2,835,535 |  | 2,835,737 |  |

Changes in equity

Dividends | - |  | (72,921 | ) | (72,921 | ) |

Total comprehensive income | - |  | 1,993,399 |  | 1,993,399 |  |

Balance at 30 April 2025 | 202 |  | 4,756,013 |  | 4,756,215 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 APRIL 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 May 2023 | 202 |  | 2,576,916 |  | 2,577,118 |  |

Changes in equity

Dividends | - |  | (361,375 | ) | (361,375 | ) |

Total comprehensive income | - |  | 7,167 |  | 7,167 |  |

Balance at 30 April 2024 | 202 |  | 2,222,708 |  | 2,222,910 |  |

Changes in equity

Dividends | - |  | (72,921 | ) | (72,921 | ) |

Total comprehensive income | - |  | 2,119,488 |  | 2,119,488 |  |

Balance at 30 April 2025 | 202 |  | 4,269,275 |  | 4,269,477 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 APRIL 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,813,286 |  | (443,724 | ) |

Interest paid | (10,068 | ) | (8,757 | ) |

Tax paid | (5,717 | ) | (102,318 | ) |

Net cash from operating activities | 2,797,501 |  | (554,799 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (189,680 | ) | (148,785 | ) |

Sale of tangible fixed assets | (1 | ) | - |  |

Interest received | 43,719 |  | 34,458 |  |

Net cash from investing activities | (145,962 | ) | (114,327 | ) |

Cash flows from financing activities

Capital repayments in year | (17,555 | ) | 7,020 |  |

Amount withdrawn by directors | - |  | (10,000 | ) |

Equity dividends paid | (72,921 | ) | (361,375 | ) |

Net cash from financing activities | (90,476 | ) | (364,355 | ) |

Increase/(decrease) in cash and cash equivalents | 2,561,063 |  | (1,033,481 | ) |

Cash and cash equivalents at beginning of year | 2 | 1,363,212 |  | 2,396,693 |  |

Cash and cash equivalents at end of year | 2 | 3,924,275 |  | 1,363,212 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 APRIL 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 2,631,097 |  | 71,188 |  |

| Depreciation charges | 52,999 |  | 61,086 |  |

| Loss on disposal of fixed assets | 1,645 |  | 1,600 |  |

| Finance costs | 10,068 |  | 8,757 |  |

| Finance income | (43,719 | ) | (34,458 | ) |

2,652,090 |  | 108,173 |  |

| Increase in trade and other debtors | (90,029 | ) | (320,631 | ) |

| Increase/(decrease) in trade and other creditors | 251,225 |  | (231,266 | ) |

| Cash generated from operations | 2,813,286 |  | (443,724 | ) |

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 30 April 2025

| 30/4/25 |  | 1/5/24

£ | £ |

| Cash and cash equivalents | 4,383,882 |  | 1,797,981 |  |

| Bank overdrafts | (459,607 | ) | (434,769 | ) |

3,924,275 |  | 1,363,212 |  |

| Year ended 30 April 2024

| 30/4/24 |  | 1/5/23

£ | £ |

| Cash and cash equivalents | 1,797,981 |  | 3,066,810 |  |

| Bank overdrafts | (434,769 | ) | (670,117 | ) |

1,363,212 |  | 2,396,693 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 APRIL 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/5/24 | Cash flow | At 30/4/25

£ | £ | £ |

| Net cash |

| Cash at bank | 1,797,981 |  | 2,585,901 |  | 4,383,882 |  |

| Bank overdrafts | (434,769 | ) | (24,838 | ) | (459,607 | ) |

1,363,212 |  | 2,561,063 |  | 3,924,275 |  |

| Debt

| Finance leases | (119,312 | ) | 17,555 |  | (101,757 | ) |

(119,312 | ) | 17,555 |  | (101,757 | ) |

| Total | 1,243,900 |  | 2,578,618 |  | 3,822,518 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1. | STATUTORY INFORMATION

| Tower 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.

| 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.

| 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.

| Long leasehold | - | 25% Straight line

| Fixtures and fittings | - | 20% per annum of net book value

| Motor vehicles | - | 25% reducing balance and 20% on reducing balance

| Computer equipment | - | 33% per annum of cost

| Financial instruments

| i) Loans and receivables

| All loans and borrowings are initially recognised at fair value, net of transaction costs incurred. Following initial recognition interest-bearing loans and borrowings are subsequently stated at amortised cost using the effective interest method.

| Gains and losses are recognised in the income statement when the instruments are derecognised or impaired. Premia, discounts and other costs are recognised in the income statement through the amortisation process.

| ii) Trade receivables

| Trade receivables do not carry any interest receivable and are initially recognised at fair value and subsequently at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

| iii) Trade payables

| Trade payables are not interest bearing and are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method.

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

| 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.

| Pension costs and other post-retirement benefits

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

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 138,195 |  | 138,200 |  |

| Other pension costs | 69,273 |  | 68,443 |  |

207,468 |  | 206,643 |  |

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

| 2025 |  | 2024

| Directors | 2 |  | 3 |  |

| Administration | 5 |  | 7 |  |

| Management and accounts | 10 |  | 10 |  |

| Production | 26 |  | 65 |  |

43 |  | 85 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

3. | EMPLOYEES AND DIRECTORS - continued

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 18,195 |  | 18,200 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 15,295 |  | 20,523 |  |

| Depreciation - assets on hire purchase contracts | 37,705 |  | 40,563 |  |

| Loss on disposal of fixed assets | 1,645 |  | 1,600 |  |

| Auditors' remuneration | 22,557 |  | 3,620 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Lease charges | 10,068 |  | 8,757 |  |

6. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 641,164 |  | 5,757 |  |

| Deferred tax | (3,466 | ) | 32,252 |  |

| Tax on profit | 637,698 |  | 38,009 |  |

| UK corporation tax has been charged at 25 % .

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

6. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 2,631,097 |  | 71,188 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 657,774 |  | 17,797 |  |

| Effects of:

| Depreciation in excess of capital allowances | 264 |  | - |  |

| Utilisation of tax losses | (16,874 | ) | (12,040 | ) |

| Adjustments to tax charge in respect of previous periods | (3,466 | ) | 32,252 |  |

| Total tax charge | 637,698 |  | 38,009 |  |

7. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary B shares of £1 each

| Interim | 72,921 |  | 361,375 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

9. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Freehold |  | Long |  | and

| property |  | leasehold |  | fittings

£ | £ | £ |

| COST

| At 1 May 2024 | 110,000 |  | 2,420 |  | 47,976 |  |

| Additions | 150,000 |  | - |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 30 April 2025 | 260,000 |  | 2,420 |  | 47,976 |  |

| DEPRECIATION

| At 1 May 2024 | - |  | 2,420 |  | 34,188 |  |

| Charge for year | - |  | - |  | 2,758 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 30 April 2025 | - |  | 2,420 |  | 36,946 |  |

| NET BOOK VALUE

| At 30 April 2025 | 260,000 |  | - |  | 11,030 |  |

| At 30 April 2024 | 110,000 |  | - |  | 13,788 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024 | 912,006 |  | 23,790 |  | 1,096,192 |  |

| Additions | 39,680 |  | - |  | 189,680 |  |

| Disposals | (39,529 | ) | - |  | (39,529 | ) |

| At 30 April 2025 | 912,157 |  | 23,790 |  | 1,246,343 |  |

| DEPRECIATION

| At 1 May 2024 | 424,728 |  | 23,790 |  | 485,126 |  |

| Charge for year | 50,242 |  | - |  | 53,000 |  |

| Eliminated on disposal | (37,885 | ) | - |  | (37,885 | ) |

| At 30 April 2025 | 437,085 |  | 23,790 |  | 500,241 |  |

| NET BOOK VALUE

| At 30 April 2025 | 475,072 |  | - |  | 746,102 |  |

| At 30 April 2024 | 487,278 |  | - |  | 611,066 |  |

| Included in cost of land and buildings is freehold land of £110,000 (2024 - £110,000) which is not depreciated.

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

9. | TANGIBLE FIXED ASSETS - continued

| Group

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 May 2024 | 266,540 |  |

| Additions | 39,680 |  |

| Transfer to ownership | (28,960 | ) |

| At 30 April 2025 | 277,260 |  |

| DEPRECIATION

| At 1 May 2024 | 106,153 |  |

| Charge for year | 37,705 |  |

| Transfer to ownership | (19,415 | ) |

| At 30 April 2025 | 124,443 |  |

| NET BOOK VALUE

| At 30 April 2025 | 152,817 |  |

| At 30 April 2024 | 160,387 |  |

| Company

| Freehold |  | Motor |

| property |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024 | 110,000 |  | 244,337 |  | 354,337 |  |

| Additions | 150,000 |  | - |  | 150,000 |  |

| At 30 April 2025 | 260,000 |  | 244,337 |  | 504,337 |  |

| NET BOOK VALUE

| At 30 April 2025 | 260,000 |  | 244,337 |  | 504,337 |  |

| At 30 April 2024 | 110,000 |  | 244,337 |  | 354,337 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

10. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertaking

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 302 |  |

| NET BOOK VALUE

| At 30 April 2025 | 302 |  |

| At 30 April 2024 | 302 |  |

| The company owns 100% of the issued share capital of the companies listed below.

|  | 2025 |  | 2024 |

| Aggregate capital and reserves |  | £ |  | £ |  |

| Spectrum M & E Limited |  |  | 8,916 |  | 6,226 |

| Spectrum Electrical & Mechanical Engineering Limited |  |  | 526,758 |  | 652,810 |

| Spectrum Repairs and Maintenance Limited |  |  | 1 |  | 1 |

| Spectrum Construction (Special Projects) Limited |  |  | (48,634 | ) | (45,908 | )

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 640,217 |  | 250,699 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | 13,500 |  | 1,490,290 |  | 1,235,335 |  |

| Other debtors | 240,301 |  | 240,302 |  | 240,502 |  | 240,502 |  |

| VAT | 356,744 |  | 352,433 |  | 7,730 |  | 11,478 |  |

| Accrued income | 1,746,656 |  | 2,046,278 |  | - |  | - |  |

| Prepayments and accrued income | 3,812 |  | 7,989 |  | - |  | - |  |

2,987,730 |  | 2,911,201 |  | 1,738,522 |  | 1,487,315 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 14) | 459,607 |  | 434,769 |  | - |  | - |  |

| Hire purchase contracts (see note 15) | 59,756 |  | 49,502 |  | - |  | - |  |

| Trade creditors | 1,861,045 |  | 1,588,084 |  | 307 |  | 2,578 |  |

| Amounts owed to group undertakings | - |  | 13,500 |  | 421,456 |  | 1,007,074 |  |

| Corporation tax | 643,035 |  | 7,588 |  | 44,837 |  | 33 |  |

| Social security & other taxes | 67,746 |  | 64,113 |  | 220 |  | - |  |

| Other creditors | 28,746 |  | 24,450 |  | 14,911 |  | 19,812 |  |

| Pension control | 1,779 |  | 1,701 |  | - |  | - |  |

| Directors' current accounts | 3,131 |  | 3,131 |  | 3,131 |  | 3,131 |  |

| Accrued expenses | 136,222 |  | 165,967 |  | 5,141 |  | 8,341 |  |

3,261,067 |  | 2,352,805 |  | 490,003 |  | 1,040,969 |  |

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

| Group |

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 15) | 42,001 |  | 69,810 |  |

14. | LOANS

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

| Group |

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on | demand: |

| Bank overdrafts | 459,607 |  | 434,769 |  |

15. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 59,756 |  | 49,502 |  |

| Between one and five years | 42,001 |  | 69,810 |  |

101,757 |  | 119,312 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

16. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax | 58,431 |  | 61,896 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 May 2024 | 61,896 |  |

| Credit to Income Statement during year | (3,465 | ) |

| Balance at 30 April 2025 | 58,431 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

| 100 | Ordinary B | £1 | 100 |  | 100 |  |

| 2 | Ordinary C & D | £2 | 1 |  | 1 |  |

201 |  | 201 |  |

18. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 May 2024 | 2,835,535 |  |

| Profit for the year | 1,993,399 |  |

| Dividends | (72,921 | ) |

| At 30 April 2025 | 4,756,013 |  |

| Company

| Retained

| earnings

£ |

| At 1 May 2024 | 2,222,708 |  |

| Profit for the year | 2,119,488 |  |

| Dividends | (72,921 | ) |

| At 30 April 2025 | 4,269,275 |  |

| TOWER HOLDINGS LIMITED (REGISTERED NUMBER: 05198252) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

18. | RESERVES - continued

19. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Mr A S Wood.

| The company was under the control of Mr A S Wood for the current and prior year.