REGISTERED NUMBER: 02388497 (England and Wales)

TEMPLE LIFTS LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTOR:

Mr K Duberley

SECRETARY:

Mr M Kane

REGISTERED OFFICE:

11 Raven Wharf

14 Lafone Street

London

SE1 2LR

REGISTERED NUMBER:

02388497 (England and Wales)

AUDITORS:

Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

The director presents his strategic report for the year ended 31 December 2025.

The principal activity of the company continues to be the maintenance, repair and assembly/modernisation of lifts in England.

REVIEW OF BUSINESS

The company's results for the twelve month period to 31 December 2025 show a gross profit of £4,344,110 (fifteen months to 31 December 2024: £5,286,606 gross profit), with a gross margin of 36% (period to 31 : December 2024: 32%). Revenue decreased from £16,283,223 generated in the fifteen months to 31 December 2024 to £12,197,291 in the twelve month period to 31 December 2025.

The directors are confident that the operational and financial improvements delivered to date and planned for the future will put the business in a great position to continue profitability in 2026.

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.

Execution risk on major work projects and large repairs is continually appraised by both operational management and the board of directors.

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

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the maintenance, repair and assembly/modernisation of lifts in England.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

Mr K Duberley has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

Mr A W Greensmith , Mr M S Jones and Mr M Kane ceased to be directors after 31 December 2025 but prior to the date of this report.

GOING CONCERN

The company's statement of financial position as at 31 December 2025 shows net current assets and net assets. The directors have considered this when reviewing the appropriateness of the going concern basis in the preparation of the financial statements.

The directors have undertaken an assessment of the company's financial position, resources and principal risks and their impact on forecast sales, profits and cash flows in determining the basis on which to prepare the accounts. The directors believe that these forecasts, in conjunction with the company's ability to satisfactorily manage financing and other business risks, means there is a reasonable expectation that the company will have adequate resources to continue in operation for at least 12 months from the signing date. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he 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 company's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr K Duberley - Director

15 April 2026

Opinion

We have audited the financial statements of Temple Lifts Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has 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:

Identifying and responding to risks of material misstatement due to fraud

The level of risk and ability to detect irregularities due to fraud was considered during the planning stage of the audit. A risk assessment was undertaken, taking into consideration the Company's policies, procedures and enquiries with management.

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards and considering our overall knowledge of the control environment, we performed procedures to address the risk of management override of controls and the risk of fraudulent transactions, in particular the risk that management may be in a position to make inappropriate accounting entries.

We performed procedures including:

- Evaluating the business purpose of journal entries and comparing the identified entries to supporting documentation.

- Evaluating the business purpose of significant bank payments and receipts and comparing these to supporting documentation.

- Walk through and further substantive testing on sales and purchases to identify weaknesses and override of internal controls.

- Using analytical procedures to identify any unusual or unexpected variances.

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

The level of risk and ability to detect irregularities due to non-compliance with laws and regulations was considered during the planning stage of the audit. A risk assessment was undertaken, taking into consideration the company's policies, procedures and 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.

The company is subject to laws and regulations that directly affect the financial statements including financial reporting and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

The company is also subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Context of the ability of the audit to detect fraud or breaches of law or regulation

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, there is a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud 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.

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

TURNOVER

12,197,291

16,283,223

Cost of sales

7,853,181

10,996,617

GROSS PROFIT

4,344,110

5,286,606

Administrative expenses

3,241,531

4,923,705

OPERATING PROFIT

4

1,102,579

362,901

Interest receivable and similar income

16,902

11,656

1,119,481

374,557

Interest payable and similar expenses

5

13,959

(9,762

)

PROFIT BEFORE TAXATION

1,105,522

384,319

Tax on profit

6

-

(1,022

)

PROFIT FOR THE FINANCIAL YEAR

1,105,522

385,341

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,105,522

385,341

FIXED ASSETS

Tangible assets

7

16,860

27,749

CURRENT ASSETS

Stocks

8

53,194

76,048

Debtors

9

3,580,592

2,186,436

Cash at bank

1,400,302

818,211

5,034,088

3,080,695

CREDITORS

Amounts falling due within one year

10

3,356,348

2,519,366

NET CURRENT ASSETS

1,677,740

561,329

TOTAL ASSETS LESS CURRENT LIABILITIES

1,694,600

589,078

CAPITAL AND RESERVES

Called up share capital

12

2,001,000

2,001,000

Retained earnings

13

(306,400

)

(1,411,922

)

SHAREHOLDERS' FUNDS

1,694,600

589,078

The financial statements were approved by the director and authorised for issue on 15 April 2026 and were signed by:

Mr K Duberley - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2023

2,001,000

(1,797,263

)

203,737

Changes in equity

Total comprehensive income

-

385,341

385,341

Balance at 31 December 2024

2,001,000

(1,411,922

)

589,078

Changes in equity

Total comprehensive income

-

1,105,522

1,105,522

Balance at 31 December 2025

2,001,000

(306,400

)

1,694,600

1.	STATUTORY INFORMATION

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

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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

This information is included in the consolidated financial statements of Provident Lifts Limited as at 31 December 2025 and these financial statements may be obtained online at Companies House.

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.

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.

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.

Computer software has been amortised over its estimated useful life of three years.

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 the cost less estimated residual value of each asset over its estimated useful life.

Short leasehold

-

over 25 years or the period of the lease

Plant and machinery

-

25% on reducing balance

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

Work in progress is valued at the lower of cost and net realisable value.

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

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

Period

1/10/23

Year Ended

to

31/12/25

31/12/24

£

£

Wages and salaries

3,525,764

5,919,506

Social security costs

422,289

667,559

Other pension costs

110,059

170,027

4,058,112

6,757,092

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

Period

1/10/23

Year Ended

to

31/12/25

31/12/24

Contracts

43

50

Administration

18

28

61

78

Period

1/10/23

Year Ended

to

31/12/25

31/12/24

£

£

Directors' remuneration

359,616

639,136

Directors' pension contributions to money purchase schemes

14,495

17,151

Information regarding the highest paid director is as follows:

Period

1/10/23

Year Ended

to

31/12/25

31/12/24

£

£

Emoluments etc

129,721

261,000

Pension contributions to money purchase schemes

4,957

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1/10/23

Year Ended

to

31/12/25

31/12/24

£

£

Other operating leases

110,001

135,556

Depreciation - owned assets

19,434

27,484

Loss on disposal of fixed assets

488

6,684

Auditors' remuneration

(11,725

)

41,122

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1/10/23

Year Ended

to

31/12/25

31/12/24

£

£

Bank loan interest

13,959

(9,762

)

6.

TAXATION

Analysis of the tax credit

The tax credit on the profit for the year was as follows:

Period

1/10/23

Year Ended

to

31/12/25

31/12/24

£

£

Deferred tax

-

(1,022

)

Tax on profit

-

(1,022

)

Reconciliation of total tax credit 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

1/10/23

Year Ended

to

31/12/25

31/12/24

£

£

Profit before tax

1,105,522

384,319

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

276,381

96,080

Effects of:

Expenses not deductible for tax purposes

5,707

4,385

Capital allowances in excess of depreciation

-

(5,200

)

Depreciation in excess of capital allowances

114

-

Utilisation of tax losses

(282,202

)

90,493

Adjustments to tax charge in respect of previous periods

-

(1,022

)

Group loan written off

-

(185,758

)

Total tax credit

-

(1,022

)

7.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2025

57,002

Additions

9,033

Disposals

(18,645

)

At 31 December 2025

47,390

DEPRECIATION

At 1 January 2025

29,253

Charge for year

19,434

Eliminated on disposal

(18,157

)

At 31 December 2025

30,530

NET BOOK VALUE

At 31 December 2025

16,860

At 31 December 2024

27,749

8.

STOCKS

2025

2024

£

£

Work in progress

53,194

76,048

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,187,714

1,355,853

Amounts owed by group undertakings

696,880

-

Other debtors

11,356

12,132

Prepayments

684,642

818,451

3,580,592

2,186,436

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,589,749

1,049,279

Social security and other taxes

83,579

111,552

VAT

190,429

356,120

Other creditors

44,832

39,319

Accruals

1,447,759

963,096

3,356,348

2,519,366

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

155,694

176,111

Between one and five years

141,759

297,453

297,453

473,564

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2,001,000

Ordinary

£1

2,001,000

2,001,000

13.

RESERVES

Retained

earnings

£

At 1 January 2025

(1,411,922

)

Profit for the year

1,105,522

At 31 December 2025

(306,400

)

14.	RELATED PARTY DISCLOSURES

During the period to 31 December 2024, the company purchased management and advisory services from a company which, until 29 October 2024, was under common control, totalling £195,657. At the balance sheet date, the company owed £Nil (2024: £Nil) to that company.

At 30 September 2023, the company owed £743,033 to an entity formerly under common control. This loan was written off in October 2024.

During the year to 31 December 2025, the company made loans to other group companies. At the balance sheet date Temple Lifts Limited was owed £696,880 (2024: £Nil) by other group companies. Temple Lifts Limited paid a management charge of £200,000 (2024: £Nil) to another group company during the year.

15.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Temple Lifts Holdings Limited, a company incorporated in England and Wales.

The ultimate parent company is Provident Lifts Ltd, a company incorporated in England and Wales.

The ultimate controlling party is Mr K. Duberley, a director of the company, by virtue of his interest in the share capital of Provident Lifts Ltd.

16.	PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the fund and during the year to 31 December 2025 amounted to £110,059 (period to 31 December 2024: £170,027). At the year ended 31 December 2025 contributions totalling £42,320 (period to 31 December 2024: £30,608) were payable to the fund.