IRIS Accounts Production v25.4.0.155 15145702 Board of Directors 31.12.25 1.1.25 31.12.25 31.12.25 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. lift maintenance, repair & installation. true true false true true false false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 15145702 2024-12-31 15145702 2025-12-31 15145702 2025-01-01 2025-12-31 15145702 2023-09-17 15145702 2023-09-18 2024-12-31 15145702 2024-12-31 15145702 ns15:EnglandWales 2025-01-01 2025-12-31 15145702 ns14:PoundSterling 2025-01-01 2025-12-31 15145702 ns10:Director1 2025-01-01 2025-12-31 15145702 ns10:Consolidated 2025-12-31 15145702 ns10:ConsolidatedGroupCompanyAccounts 2025-01-01 2025-12-31 15145702 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 15145702 ns10:Consolidated ns10:MediumEntities 2025-01-01 2025-12-31 15145702 ns10:Consolidated ns10:Audited 2025-01-01 2025-12-31 15145702 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 15145702 ns10:Medium-sizedCompaniesRegimeForAccounts 2025-01-01 2025-12-31 15145702 ns10:Consolidated 2025-01-01 2025-12-31 15145702 ns10:Consolidated ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 15145702 ns10:Medium-sizedCompaniesRegimeForAccounts ns10:Consolidated 2025-01-01 2025-12-31 15145702 ns10:FullAccounts 2025-01-01 2025-12-31 15145702 1 2025-01-01 2025-12-31 15145702 ns10:OrdinaryShareClass1 2025-01-01 2025-12-31 15145702 ns10:Director2 2025-01-01 2025-12-31 15145702 ns10:Director3 2025-01-01 2025-12-31 15145702 ns10:Director4 2025-01-01 2025-12-31 15145702 ns10:RegisteredOffice 2025-01-01 2025-12-31 15145702 ns10:Consolidated 2023-09-18 2024-12-31 15145702 ns5:CurrentFinancialInstruments 2025-12-31 15145702 ns5:CurrentFinancialInstruments 2024-12-31 15145702 ns5:ShareCapital 2025-12-31 15145702 ns5:ShareCapital 2024-12-31 15145702 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 15145702 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 15145702 ns5:ShareCapital 2023-09-18 2024-12-31 15145702 ns5:RetainedEarningsAccumulatedLosses 2023-09-18 2024-12-31 15145702 ns5:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 15145702 ns5:NetGoodwill 2025-01-01 2025-12-31 15145702 ns5:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 15145702 ns5:CostValuation 2024-12-31 15145702 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 15145702 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 15145702 ns10:OrdinaryShareClass1 2025-12-31 15145702 ns5:RetainedEarningsAccumulatedLosses 2024-12-31

REGISTERED NUMBER: 15145702 (England and Wales)

PROVIDENT LIFTS LTD

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 5 |

Consolidated Statement of Comprehensive Income | 8 |

Consolidated Balance Sheet | 9 |

Company Balance Sheet | 10 |

Consolidated Statement of Changes in Equity | 11 |

Company Statement of Changes in Equity | 12 |

Consolidated Cash Flow Statement | 13 |

Notes to the Consolidated Cash Flow Statement | 14 |

Notes to the Consolidated Financial Statements | 16 |

PROVIDENT LIFTS LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | Mr K Duberley

| Mr J Duberley

| Mr S Duberley

| Mr T Duberley

| REGISTERED OFFICE: | 15-17 Church Street

| Stourbridge

| West Midlands

| DY8 1LU

| REGISTERED NUMBER: | 15145702 (England and Wales)

| AUDITORS: | Folkes Worton LLP

| Chartered Accountants and Statutory Auditor

| 15-17 Church Street

| Stourbridge

| West Midlands

| DY8 1LU

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

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

The principal activity of the group continues to be the installation and maintenance of lifts.

REVIEW OF BUSINESS

The financial statements show the results of all group members during their periods of membership of the group. The trading subsidiaries were acquired in September and October 2024.

The group's results for the year ended 31 December 2025 show a gross profit of £8,470,705 (period to 31 December 2024: £2,600,362), with a gross margin of 39.0% (period to 31 December 2024 43.7%). The profit before taxation was £1,793,211 (period to 31 December 2024 £529,606).

The directors are confident that the operational and financial improvements delivered to date and planned for the future will put the group in a position to maintain and improve its profitability into 2026 and beyond.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the company's strategy are subject to a number of risks.

Demand and execution risk

The key business risk relates to changes in the economy impacting the expenditure plans of institutional and private landlords. The directors manage this risk by closely monitoring the sector and working closely with customers, key suppliers and trade bodies to identify changes and impacts.

Credit risk

Credit risk is managed by careful review of customers' financial standing and appropriate credit checks on potential customers prior to sale as well as via active management of cash collections and credit limits once onboarded. The company maintains a wide portfolio of customers across a number of sectors.

Price risk

The company is exposed to raw material and labour cost increases. To mitigate this risk all key raw materials have several suppliers and most customer contracts are subject to fixed pricing and annual increase arrangements for predetermined periods of time.

Health and safety

Managing and eliminating risk to our people in the environments in which they work continues to be a major part of our responsibility.

ON BEHALF OF THE BOARD:

Mr K Duberley - Director

15 April 2026

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

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

DIVIDENDS

Interim dividends totalling £600 per share were paid during the year. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £ 360,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

Mr K Duberley

Mr J Duberley

Mr S Duberley

Mr T Duberley

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

AUDITORS

The auditors, Folkes Worton LLP, having been appointed during the period, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr K Duberley - Director

15 April 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

PROVIDENT LIFTS LTD

Opinion

We have audited the financial statements of Provident Lifts Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Statement of 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 December 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

PROVIDENT LIFTS LTD

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 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 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.

Based on our understanding of the group, the company and their industry, we identified the principal risks of non-compliance with laws and regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks were related to:

- the posting inappropriate journal entries to increase revenue or reduce expenditure;

- management override of controls; and

- management bias in the assessment of accounting estimates and judgements.

In response to the above identified risks, audit procedures were designed to enable us to arrive at appropriately drawn conclusions. These audit procedures include;

- the review and challenging of journal entries, in particular unusual transactions and account combinations;

- challenging assumptions and judgements made by management in their assessment of significant accounting estimates; and

- discussions with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

PROVIDENT LIFTS LTD

Auditors' responsibilities for the audit of the financial statements - continued

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely it would be for the inherently limited procedures required by auditing standards to identify it. In addition, as with any audit, there remains a risk of not detecting irregularities as these may include collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. 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/auditors responsibilities. This description forms part of our Report of the Auditors.

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.

Neil Smith BSc FCA (Senior Statutory Auditor)

for and on behalf of Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

15 April 2026

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

| Year Ended | Period |

| 31/12/25 | 18/9/23 to 31/12/24 |

| Notes | £ | £ | £ | £ |

TURNOVER | 21,697,612 |  | 5,952,179 |  |

Cost of sales | 13,226,907 |  | 3,351,817 |  |

GROSS PROFIT | 8,470,705 |  | 2,600,362 |  |

Administrative expenses | 6,166,107 |  | 1,768,237 |  |

OPERATING PROFIT | 4 | 2,304,598 |  | 832,125 |  |

Income from interest in associated undertakings | - |  | 50,000 |  |

Interest receivable and similar income | 50,156 |  | 46,777 |  |

|  |  | 50,156 |  |  |  |  | 96,777 |  |

2,354,754 |  | 928,902 |  |

Interest payable and similar expenses | 5 | 561,543 |  | 399,296 |  |

PROFIT BEFORE TAXATION | 1,793,211 |  | 529,606 |  |

Tax on profit | 6 | 327,210 |  | 141,107 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,466,001 |  | 388,499 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,466,001 |  | 388,499 |  |

Profit attributable to:

Owners of the parent | 1,466,001 |  | 388,499 |  |

Total comprehensive income attributable to:

Owners of the parent | 1,466,001 |  | 388,499 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

CONSOLIDATED BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 5,054,584 |  | 5,632,175 |  |

Tangible assets | 10 | 508,154 |  | 558,577 |  |

Investments | 11 | - |  | - |  |

5,562,738 |  | 6,190,752 |  |

CURRENT ASSETS

Stocks | 12 | 983,248 |  | 2,276,344 |  |

Debtors | 13 | 4,164,144 |  | 3,942,068 |  |

Cash at bank and in hand | 4,209,102 |  | 1,867,620 |  |

9,356,494 |  | 8,086,032 |  |

CREDITORS

Amounts falling due within one year | 14 | 9,581,179 |  | 9,229,772 |  |

NET CURRENT LIABILITIES | (224,685 | ) | (1,143,740 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,338,053 |  | 5,047,012 |  |

CREDITORS

Amounts falling due after more than one year | 15 | (3,887,328 | ) | (4,681,739 | ) |

PROVISIONS FOR LIABILITIES | 19 | (108,125 | ) | (128,674 | ) |

NET ASSETS | 1,342,600 |  | 236,599 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 600 |  | 600 |  |

Retained earnings | 21 | 1,342,000 |  | 235,999 |  |

SHAREHOLDERS' FUNDS | 1,342,600 |  | 236,599 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2026 and were signed on its behalf by:

Mr K Duberley - Director

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

COMPANY BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | - |  | - |  |

Investments | 11 | 3,500,500 |  | 3,500,500 |  |

3,500,500 |  | 3,500,500 |  |

CURRENT ASSETS

Debtors | 13 | 12,100 |  | 100 |  |

Cash at bank | 35,607 |  | 69,056 |  |

47,707 |  | 69,156 |  |

CREDITORS

Amounts falling due within one year | 14 | 3,541,363 |  | 3,553,577 |  |

NET CURRENT LIABILITIES | (3,493,656 | ) | (3,484,421 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,844 |  | 16,079 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 600 |  | 600 |  |

Retained earnings | 21 | 6,244 |  | 15,479 |  |

SHAREHOLDERS' FUNDS | 6,844 |  | 16,079 |  |

Company's profit for the financial year | 350,765 |  | 130,479 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2026 and were signed on its behalf by:

Mr K Duberley - Director

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 600 |  | - |  | 600 |  |

Dividends | - |  | (152,500 | ) | (152,500 | ) |

Total comprehensive income | - |  | 388,499 |  | 388,499 |  |

Balance at 31 December 2024 | 600 |  | 235,999 |  | 236,599 |  |

Changes in equity

Dividends | - |  | (360,000 | ) | (360,000 | ) |

Total comprehensive income | - |  | 1,466,001 |  | 1,466,001 |  |

Balance at 31 December 2025 | 600 |  | 1,342,000 |  | 1,342,600 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 600 |  | - |  | 600 |  |

Dividends | - |  | (115,000 | ) | (115,000 | ) |

Total comprehensive income | - |  | 130,479 |  | 130,479 |  |

Balance at 31 December 2024 | 600 |  | 15,479 |  | 16,079 |  |

Changes in equity

Dividends | - |  | (360,000 | ) | (360,000 | ) |

Total comprehensive income | - |  | 350,765 |  | 350,765 |  |

Balance at 31 December 2025 | 600 |  | 6,244 |  | 6,844 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 3,772,528 |  | 277,230 |  |

Interest paid | (582,909 | ) | (356,465 | ) |

Interest element of hire purchase payments paid | (15,073 | ) | (6,392 | ) |

Tax paid | (320,301 | ) | (164,866 | ) |

Net cash from operating activities | 2,854,245 |  | (250,493 | ) |

Cash flows from investing activities

Purchase of intangible fixed assets | - |  | 2,199,372 |  |

Purchase of tangible fixed assets | (57,508 | ) | - |  |

Sale of tangible fixed assets | 12,017 |  | - |  |

Interest received | 50,156 |  | 46,777 |  |

Dividends received | - |  | 50,000 |  |

Net cash from investing activities | 4,665 |  | 2,296,149 |  |

Cash flows from financing activities

Capital repayments in year | (145,428 | ) | (37,536 | ) |

Amount introduced by directors | - |  | 12,000 |  |

Amount withdrawn by directors | (12,000 | ) | (100 | ) |

Share issue | - |  | 100 |  |

Equity dividends paid | (360,000 | ) | (152,500 | ) |

Net cash from financing activities | (517,428 | ) | (178,036 | ) |

Increase in cash and cash equivalents | 2,341,482 |  | 1,867,620 |  |

Cash and cash equivalents at beginning of year | 2 | 1,867,620 |  | - |  |

Cash and cash equivalents at end of year | 2 | 4,209,102 |  | 1,867,620 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

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

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Profit before taxation | 1,793,211 |  | 529,606 |  |

| Depreciation charges | 852,401 |  | 222,761 |  |

| (Profit)/loss on disposal of fixed assets | (4,269 | ) | 663 |  |

| Finance costs | 561,543 |  | 399,296 |  |

| Finance income | (50,156 | ) | (96,777 | ) |

3,152,730 |  | 1,055,549 |  |

| Decrease in stocks | 1,293,096 |  | 500,330 |  |

| (Increase)/decrease in trade and other debtors | (222,076 | ) | 363,100 |  |

| Decrease in trade and other creditors | (451,222 | ) | (1,641,749 | ) |

| Cash generated from operations | 3,772,528 |  | 277,230 |  |

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 December 2025

| 31/12/25 |  | 1/1/25

£ | £ |

| Cash and cash equivalents | 4,209,102 |  | 1,867,620 |  |

| Period ended 31 December 2024

| 31/12/24 |  | 18/9/23

£ | £ |

| Cash and cash equivalents | 1,867,620 |  | - |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

3. | ANALYSIS OF CHANGES IN NET DEBT

| Other |

| non-cash |

| At 1/1/25 | Cash flow | changes | At 31/12/25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 1,867,620 |  | 2,341,482 |  | 4,209,102 |  |

1,867,620 |  | 2,341,482 |  | 4,209,102 |  |

| Debt

| Finance leases | (294,694 | ) | 145,428 |  | (174,627 | ) | (323,893 | ) |

| Debts falling due

| within 1 year | - |  | - |  | (787,500 | ) | (787,500 | ) |

| Debts falling due

| after 1 year | (4,500,000 | ) | - |  | 787,500 |  | (3,712,500 | ) |

(4,794,694 | ) | 145,428 |  | (174,627 | ) | (4,823,893 | ) |

| Total | (2,927,074 | ) | 2,486,910 |  | (174,627 | ) | (614,791 | ) |

4. | ACQUISITION OF BUSINESS

| During the period ended 31 December 2024, the group acquired new subsidiary companies. Assets and liabilities acquired in the companies were as follows:

| £ |  |

| Tangible fixed assets - cost |  |  | 1,085,215 |

| Tangible fixed assets - accumulated depreciation |  |  | (446,948 | )

| 638,267 |  |

| Stock |  |  | 2,776,674 |

| Trade and other debtors |  |  | 4,305,068 |

| Cash at bank and in hand |  |  | 3,099,372 |

| Trade and other creditors |  |  | (8,970,905 | )

| Current taxation |  |  | (259,211 | )

| Hire purchase liabilities |  |  | (332,230 | )

| Deferred taxation |  |  | (132,444 | )

|  | 1,124,591 |

| Goodwill |  |  | 5,775,909 |

| Investment in subsidiaries |  |  | 6,900,500 |

| The acquisitions were financed by: |  |

| Issue of share capital |  |  | 500 |

| Deferred proceeds |  |  | 1,500,000 |

| Loans |  |  | 4,500,000 |

| Cash |  |  | 900,000 |

|  | 6,900,500 |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Provident Lifts 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 General Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Basis of consolidation

| In the group financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the period following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

| The consolidated financial statements incorporate those of Provident Lifts Ltd and all of its subsidiaries (entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Results are incorporated from the date that control passes.

| All financial statements are made up to 31 December and all accounting policies are consistent across the parent and its subsidiaries.

| All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

| The group profit and loss account includes the consolidated results for all subsidiaries detailed in note 11 for the year.

| Turnover

| Revenue from the provision of services by the company is recognised as soon as the amount can be reliably estimated and work in progress recorded in the balance sheet under prepayments and accrued income. The outcome of a transaction can be estimated reliably when all the following conditions are met:

| - the amount of revenue from ordinary activities can be measured reliably;

| - it is probable that the economic benefits will flow to the entity;

| - the stage of completion of the transaction at the reporting date can be measured reliably;

| - the costs incurred for the transaction and the costs to complete the transaction can be measured.

| When the outcome of a transaction involving the provision of services can be estimated reliably, the income from ordinary activities associated with the transaction must be recognised by reference to the stage of completion of the transaction at the reporting date.

| The stage of completion is measured by reference to the proportion that costs incurred to date bear to the estimated total costs. Profit is not recognised if the stage of completion of the contract cannot be estimated reliably.

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Turnover - continued

| In the event that a loss on completion of a contract is forecast, a provision for losses to contract completion is recognised irrespective of the stage of completion of the contract, by reference to the best estimate of the forecast results measured on a reasonable basis. Provisions for losses on contract completion are presented within prepayments and accrued income in the statement of financial position.

| Payments on account received in excess of costs incurred and attributable profit are included within accruals and deferred income. Foreseeable losses, if any, in excess of costs incurred less related payments on account are included in provisions as appropriate.

| Goodwill

| Goodwill represents the excess of the cost of acquisition of a business over the fair value of the net assets acquired. It is initially recognised as an asset at cost. After initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite life and is amortised on a systematic basis over its expected life of 10 years which the directors believe is the period over which the acquisition will pay back the initial investment.

| 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.

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

| 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 |  |

| Fixtures and fittings |  | - |  | 15% to 25% on reducing balance |  |

| Motor vehicles |  | - |  | 20% to 25% on cost |  |

| The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to the statement of comprehensive income.

| 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 instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

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

| Basic financial assets

| Trade and other debtors, including accrued income, which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Basic financial liabilities

| Basic financial liabilities, including trade and other creditors, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost using the effective interest rate method.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

| 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 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.

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

3. | EMPLOYEES AND DIRECTORS

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Wages and salaries | 5,615,470 |  | 1,351,561 |  |

| Social security costs | 679,806 |  | 140,875 |  |

| Other pension costs | 292,314 |  | 90,200 |  |

6,587,590 |  | 1,582,636 |  |

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

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

| Contracts | 81 |  | 81 |  |

| Administration | 24 |  | 34 |  |

105 |  | 115 |  |

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Directors' remuneration | 177,400 |  | 83,333 |  |

| Directors' pension contributions to money purchase schemes | 49,350 |  | 21,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 1 |  |

4. | OPERATING PROFIT

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

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Other operating leases | 153,002 |  | 22,084 |  |

| Depreciation - owned assets | 108,033 |  | 32,767 |  |

| Depreciation - assets on hire purchase contracts | 166,777 |  | 46,260 |  |

| (Profit)/loss on disposal of fixed assets | (4,269 | ) | 663 |  |

| Goodwill amortisation | 577,591 |  | 143,734 |  |

| Auditors' remuneration | 35,205 |  | 6,000 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Bank loan interest | 13,959 |  | 643 |  |

| Loan interest | 531,563 |  | 392,261 |  |

| Corporation Tax interest | 948 |  | - |  |

| Hire purchase interest | 15,073 |  | 6,392 |  |

561,543 |  | 399,296 |  |

6. | TAXATION

| Analysis of the tax charge

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

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Current tax:

| UK corporation tax | 347,759 |  | 144,877 |  |

| Deferred tax | (20,549 | ) | (3,770 | ) |

| Tax on profit | 327,210 |  | 141,107 |  |

| 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:

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Profit before tax | 1,793,211 |  | 529,606 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 448,303 |  | 132,402 |  |

| Effects of:

| Expenses not deductible for tax purposes | 15,487 |  | 15,182 |  |

| Income not taxable for tax purposes | - |  | (12,500 | ) |

| Depreciation in excess of capital allowances | 112 |  | 15,398 |  |

| Amortisation of goodwill | 144,398 |  | 35,933 |  |

| Utilisation of tax losses | (281,090 | ) | (45,308 | ) |

| Total tax charge | 327,210 |  | 141,107 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

7. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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

8. | DIVIDENDS

| Period

| 18/9/23

| Year Ended |  | to

| 31/12/25 |  | 31/12/24

£ | £ |

| Interim | 360,000 |  | 152,500 |  |

9. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 5,775,909 |  |

| AMORTISATION

| At 1 January 2025 | 143,734 |  |

| Amortisation for year | 577,591 |  |

| At 31 December 2025 | 721,325 |  |

| NET BOOK VALUE

| At 31 December 2025 | 5,054,584 |  |

| At 31 December 2024 | 5,632,175 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

10. | TANGIBLE FIXED ASSETS

| Group

| Improvements |  | Fixtures |

| to |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2025 | 11,362 |  | 58,536 |  | 60,557 |  | 945,088 |  | 1,075,543 |  |

| Additions | - |  | 9,033 |  | - |  | 223,102 |  | 232,135 |  |

| Disposals | - |  | (18,645 | ) | - |  | (57,612 | ) | (76,257 | ) |

| At 31 December 2025 | 11,362 |  | 48,924 |  | 60,557 |  | 1,110,578 |  | 1,231,421 |  |

| DEPRECIATION

| At 1 January 2025 | 11,362 |  | 30,787 |  | 60,557 |  | 414,260 |  | 516,966 |  |

| Charge for year | - |  | 19,434 |  | - |  | 255,376 |  | 274,810 |  |

| Eliminated on disposal | - |  | (18,157 | ) | - |  | (50,352 | ) | (68,509 | ) |

| At 31 December 2025 | 11,362 |  | 32,064 |  | 60,557 |  | 619,284 |  | 723,267 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 16,860 |  | - |  | 491,294 |  | 508,154 |  |

| At 31 December 2024 | - |  | 27,749 |  | - |  | 530,828 |  | 558,577 |  |

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

| Motor

| vehicles

£ |

| COST

| At 1 January 2025 | 567,981 |  |

| Additions | 174,627 |  |

| Transfer to ownership | (68,760 | ) |

| At 31 December 2025 | 673,848 |  |

| DEPRECIATION

| At 1 January 2025 | 235,687 |  |

| Charge for year | 166,777 |  |

| Transfer to ownership | (68,760 | ) |

| At 31 December 2025 | 333,704 |  |

| NET BOOK VALUE

| At 31 December 2025 | 340,144 |  |

| At 31 December 2024 | 332,294 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

11. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 3,500,500 |  |

| NET BOOK VALUE

| At 31 December 2025 | 3,500,500 |  |

| At 31 December 2024 | 3,500,500 |  |

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

| Subsidiaries

| Subsidiary and registered office |  | Nature of business |  | Class of shares |  | Holding |

| Crest Lifts Holdings Limited |  | Holding company |  | Ordinary |  | 100% |

| 11 Nimbus, Hercules Way, Farnborough, Hampshire, GU14 6UU |  |

| Crest Lifts Limited |  | Installation and maintenance of lifts |  | Ordinary |  | 100% |

| 11 Nimbus, Hercules Way, Farnborough, Hampshire, GU14 6UU |  |

| Lafone Lifts Limited |  | Holding company |  | Ordinary |  | 100% |

| 11 Nimbus, Hercules Way, Farnborough, Hampshire, GU14 6UU |  |

| Temple Lifts Holdings Limited |  | Holding company |  | Ordinary |  | 100% |

| 11 Raven Wharf, 14 Lafone Street, London, SE1 2LR |  |

| Temple Lifts Limited |  | Installation and maintenance of lifts |  | Ordinary |  | 100% |

| 11 Raven Wharf, 14 Lafone Street, London, SE1 2LR |  |

12. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Stocks | 1,200 |  | 1,200 |  |

| Work in progress | 982,048 |  | 2,275,144 |  |

983,248 |  | 2,276,344 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 3,337,612 |  | 2,932,667 |  | - |  | - |  |

| Other debtors | 11,358 |  | 16,634 |  | - |  | - |  |

| Directors' loan accounts | 100 |  | 100 |  | 100 |  | 100 |  |

| Prepayments | 815,074 |  | 992,667 |  | 12,000 |  | - |  |

4,164,144 |  | 3,942,068 |  | 12,100 |  | 100 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Other loans (see note 16) | 787,500 |  | - |  | - |  | - |  |

| Hire purchase contracts (see note 17) | 149,065 |  | 112,955 |  | - |  | - |  |

| Trade creditors | 2,421,585 |  | 2,104,867 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 1,860,000 |  | 1,960,000 |  |

| Tax | 266,680 |  | 239,222 |  | 138,030 |  | 20,160 |  |

| Social security and other taxes | 723,388 |  | 764,676 |  | 43,333 |  | 26,167 |  |

| Other creditors | 1,564,833 |  | 1,584,144 |  | 1,500,000 |  | 1,535,250 |  |

| Directors' loan accounts | - |  | 12,000 |  | - |  | 12,000 |  |

| Accruals | 3,668,128 |  | 4,411,908 |  | - |  | - |  |

9,581,179 |  | 9,229,772 |  | 3,541,363 |  | 3,553,577 |  |

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

| Group |

2025 | 2024 |

£ | £ |

| Other loans (see note 16) | 3,712,500 |  | 4,500,000 |  |

| Hire purchase contracts (see note 17) | 174,828 |  | 181,739 |  |

3,887,328 |  | 4,681,739 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

16. | LOANS

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

| Group |

2025 | 2024 |

£ | £ |

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

| Other loans | 787,500 |  | - |  |

| Amounts falling due between one and two | years: |

| Other loans | 787,500 |  | 787,500 |  |

| Amounts falling due between two and five | years: |

| Other loans | 2,925,000 |  | 3,712,500 |  |

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | 158,576 |  | 125,777 |  |

| Between one and five years | 179,055 |  | 190,512 |  |

337,631 |  | 316,289 |  |

| Finance charges repayable:

| Within one year | 9,511 |  | 12,822 |  |

| Between one and five years | 4,227 |  | 8,773 |  |

13,738 |  | 21,595 |  |

| Net obligations repayable:

| Within one year | 149,065 |  | 112,955 |  |

| Between one and five years | 174,828 |  | 181,739 |  |

323,893 |  | 294,694 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

18. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2025 | 2024 |

£ | £ |

| Other loans | 4,500,000 |  | 4,500,000 |  |

| Hire purchase contracts | 323,893 |  | 294,694 |  |

4,823,893 |  | 4,794,694 |  |

| Other loans are secured by a fixed charge over the company's investment and related rights in Crest Lifts Holdings Limited.

| Hire purchase liabilities are secured on the assets acquired thereunder.

19. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax | 108,125 |  | 128,674 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 128,674 |  |

| Credit to Statement of Comprehensive Income during year | (20,549 | ) |

| Balance at 31 December 2025 | 108,125 |  |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 600 | Ordinary | £1.00 | 600 |  | 600 |  |

21. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 January 2025 | 235,999 |  |

| Profit for the year | 1,466,001 |  |

| Dividends | (360,000 | ) |

| At 31 December 2025 | 1,342,000 |  |

PROVIDENT LIFTS LTD (REGISTERED NUMBER: 15145702)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

21. | RESERVES - continued

| Company

| Retained

| earnings

£ |

| At 1 January 2025 | 15,479 |  |

| Profit for the year | 350,765 |  |

| Dividends | (360,000 | ) |

| At 31 December 2025 | 6,244 |  |

22. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the year ended 31 December 2025 and the period ended 31 December 2024:

2025 | 2024 |

£ | £ |

| K Duberley

| Balance outstanding at start of year | 100 |  | - |  |

| Amounts advanced | - |  | 100 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 100 |  | 100 |  |