REGISTERED NUMBER: 04507848 (England and Wales)

G T ACCESS LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

J M Till

J Till

P A Till

W Bishop

T U C Jones

T O Long

SECRETARY:

J M Till

REGISTERED OFFICE:

19 Sherwood Road

Aston Fields Industrial Estate

Bromsgrove

Worcestershire

B60 3DR

REGISTERED NUMBER:

04507848 (England and Wales)

AUDITORS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

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

FAIR REVIEW OF THE BUSINESS

The results of the year and financial position of the company are shown in the annexed financial statements.

The company's core activities during the year continued to be powered access hire, training, and equipment sales.

Profit on ordinary activities before taxation for the year ended 31 October 2025 was £876,467, after a £1,000,000 investment adjustment (2024: £897,086 profit with a £500,000 investment adjustment).

Shareholders' equity at year end stood at £10,228,664, compared with £10,074,874 as at 31 October 2024.

Despite a challenging trading environment, the company has delivered a broadly consistent performance year on year, with modest growth achieved.

STRATEGY

The company will continue to build on its strong industry reputation to grow its profitable customer base. Opportunities to expand through additional branches or the acquisition of competitors will be considered where they align with strategic objectives and deliver commercial value.

A key differentiator remains the company's commitment to operating a modern, state-of-the-art fleet. Ongoing capital investment in equipment enhances the fleet offering and strengthens the company's unique selling points, where financially viable.

The company recognises that staff retention is critical to long-term success. Competitive wages are supported by a comprehensive benefits package, including bonuses, year-end profit share, generous holiday entitlement, and a strong culture of internal promotion.

KEY PERFORMANCE INDICATORS (KPIs)

The company monitors a range of KPIs to track performance and inform decision-making, including:

- Turnover and profitability

- Powered access utilisation rates

- Road fleet utilisation

- Return on investment (ROI)

- Depot-specific budgeting performance

- Sales representative performance

- Industry pricing benchmarks

While these KPIs have remained relatively consistent year on year, margins have been pressured by industry-wide and UK-wide cost increases.

Monitoring these indicators enables the company to identify strengths and weaknesses promptly and take informed, corrective action where necessary.

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in a highly competitive market. Ongoing challenges include elevated interest rates, increases in wages and National Insurance costs, and relatively flat growth across the wider industry.

Broader uncertainty surrounding the UK economic outlook also presents a risk to trading conditions. Despite these factors, the company believes it has robust procedures and policies in place to strengthen its already solid market position.

ENVIRONMENTAL AND COMPLIANCE

The company maintains a strong focus on compliance, safety, and environmental responsibility. Accreditations and certifications include:

- IPAF Rental+

- ISO 9001

- ISO 14001

- FORS Bronze and Silver

- SafeContractor

- IPAF SSIP

During the year, the company also invested significantly in solar installations at owned premises to reduce environmental impact and energy costs.

The company is looking to reduce ICE machines in the fleet and the company are only committing to Electric vehicles going forward.

FUTURE DEVELOPMENTS

The company intends to:

- Increase market share within its core operating regions

- Continue targeted capital investment in fleet and equipment

- Explore strategic expansion opportunities where commercially viable

Further development of the fleet, customer offering, and operational efficiency will remain key priorities in the coming year.

ON BEHALF OF THE BOARD:

J M Till - Director

10 February 2026

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

DIVIDENDS

Interim dividends per share were paid as follows:

218.33

- 4 November 2024

170.00

- 10 December 2024

170.00

- 9 January 2025

170.00

- 7 February 2025

170.00

- 11 March 2025

170.00

- 9 April 2025

170.00

- 7 May 2025

170.00

- 13 May 2025

170.00

- 10 July 2025

170.00

- 8 August 2025

170.00

- 11 September 2025

170.00

- 8 October 2025

2088.33

The directors recommend a final dividend of 1020.00 per share, making a total of 3108.33 per share for the year ended 31 October 2025.

The total distribution of dividends for the year ended 31 October 2025 will be £ 310,833 .

DIRECTORS

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

J M Till

J Till

P A Till

W Bishop

T U C Jones

T O Long

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

AUDITORS

The auditors, Charles Lovell & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J M Till - Director

10 February 2026

Opinion

We have audited the financial statements of G T Access Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the nature of the industry and the sector in which they operate. We determined that the following laws and regulations were most significant; the Companies Act 2006, the UK Corporate Governance Code and UK corporate taxation laws.

- We obtained an understanding of how the Company are complying with those legal and regulatory frameworks by making inquiries with the management of the Company and the Group's audit department.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the Audit engagement team included:

- identifying and assessing the design effectiveness of controls that management has in place to

prevent and detect fraud.

- Understanding how those charged with governance considered and addressed the potential for

override of controls or other inappropriate influence over the financial reporting process.

- challenging assumptions and judgements made by management in its significant accounting

estimates.

- identifying and testing journal enteries and performing analytical procedures to identify any unusual

or unexpected relationships that may indicate risks of material misstatement due to fraud.

- assessing the extent of compliance with the relevant laws and regulations.

- We also communicated relevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

Hadleigh Jonathan Burns (Senior Statutory Auditor)

for and on behalf of Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

10 February 2026

TURNOVER

3

25,953,400

25,863,470

Cost of sales

14,485,146

13,731,602

GROSS PROFIT

11,468,254

12,131,868

Administrative expenses

9,276,628

9,392,133

2,191,626

2,739,735

Other operating income

-

551

OPERATING PROFIT

5

2,191,626

2,740,286

Interest receivable and similar income

-

88

2,191,626

2,740,374

Interest payable and similar expenses

6

1,217,688

1,190,410

PROFIT BEFORE TAXATION

973,938

1,549,964

Tax on profit

7

455,674

520,788

PROFIT FOR THE FINANCIAL YEAR

518,264

1,029,176

Profit attributable to:

Owners of the parent

518,264

1,029,176

PROFIT FOR THE YEAR

518,264

1,029,176

OTHER COMPREHENSIVE INCOME

Revaluation reserve

(48,445

)

(241,066

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(48,445

)

(241,066

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

469,819

788,110

Total comprehensive income attributable to:

Owners of the parent

469,819

788,110

FIXED ASSETS

Intangible assets

10

2,392,253

2,394,853

Tangible assets

11

38,563,101

37,086,420

Investments

12

-

-

40,955,354

39,481,273

CURRENT ASSETS

Stocks

13

178,123

141,334

Debtors

14

6,400,526

6,519,705

Cash at bank

205,380

212,624

6,784,029

6,873,663

CREDITORS

Amounts falling due within one year

15

15,960,927

14,650,152

NET CURRENT LIABILITIES

(9,176,898

)

(7,776,489

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,778,456

31,704,784

CREDITORS

Amounts falling due after more than one year

16

(16,434,322

)

(16,604,409

)

PROVISIONS FOR LIABILITIES

20

(4,097,962

)

(4,013,189

)

NET ASSETS

11,246,172

11,087,186

CAPITAL AND RESERVES

Called up share capital

21

100

100

Revaluation reserve

22

321,924

370,369

Retained earnings

22

10,924,148

10,716,717

SHAREHOLDERS' FUNDS

11,246,172

11,087,186

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2026 and were signed on its behalf by:

J M Till - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

37,889,645

35,911,426

Investments

12

1,921,031

2,921,031

39,810,676

38,832,457

CURRENT ASSETS

Stocks

13

178,123

141,334

Debtors

14

7,350,159

6,558,234

Cash at bank

184,983

157,255

7,713,265

6,856,823

CREDITORS

Amounts falling due within one year

15

16,925,342

15,208,511

NET CURRENT LIABILITIES

(9,212,077

)

(8,351,688

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,598,599

30,480,769

CREDITORS

Amounts falling due after more than one year

16

(16,434,322

)

(16,599,979

)

PROVISIONS FOR LIABILITIES

20

(3,935,633

)

(3,805,916

)

NET ASSETS

10,228,644

10,074,874

CAPITAL AND RESERVES

Called up share capital

21

100

100

Retained earnings

22

10,228,544

10,074,774

SHAREHOLDERS' FUNDS

10,228,644

10,074,874

Company's profit for the financial year

464,603

417,273

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2026 and were signed on its behalf by:

J M Till - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 November 2023

100

9,888,964

611,435

10,500,499

Changes in equity

Dividends

-

(201,423

)

-

(201,423

)

Total comprehensive income

-

1,029,176

(241,066

)

788,110

Balance at 31 October 2024

100

10,716,717

370,369

11,087,186

Changes in equity

Dividends

-

(310,833

)

-

(310,833

)

Total comprehensive income

-

518,264

(48,445

)

469,819

Balance at 31 October 2025

100

10,924,148

321,924

11,246,172

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 November 2023

100

9,858,924

9,859,024

Changes in equity

Dividends

-

(201,423

)

(201,423

)

Total comprehensive income

-

417,273

417,273

Balance at 31 October 2024

100

10,074,774

10,074,874

Changes in equity

Dividends

-

(310,833

)

(310,833

)

Total comprehensive income

-

464,603

464,603

Balance at 31 October 2025

100

10,228,544

10,228,644

Cash flows from operating activities

Cash generated from operations

1

8,842,561

7,158,384

Interest paid

(5,679

)

(8,200

)

Interest element of hire purchase payments paid

(1,212,009

)

(1,182,210

)

Tax paid

(183,398

)

(312,923

)

Net cash from operating activities

7,441,475

5,655,051

Cash flows from investing activities

Purchase of tangible fixed assets

(9,564,886

)

(9,396,420

)

Sale of tangible fixed assets

1,590,014

2,375,373

Interest received

-

88

Net cash from investing activities

(7,974,872

)

(7,020,959

)

Cash flows from financing activities

Loan repayments in year

(200,000

)

(200,000

)

HP Finance additions in year

9,920,314

5,198,375

Capital repayments in year

(9,210,277

)

(3,555,548

)

Amount introduced by directors

103,727

3,038

Amount withdrawn by directors

(119,276

)

(22,625

)

Invoice discounting

342,498

93,239

Equity dividends paid

(310,833

)

(201,423

)

Net cash from financing activities

526,153

1,315,056

Decrease in cash and cash equivalents

(7,244

)

(50,852

)

Cash and cash equivalents at beginning of year

2

212,624

263,476

Cash and cash equivalents at end of year

2

205,380

212,624

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

31.10.25

31.10.24

£

£

Profit before taxation

973,938

1,549,964

Depreciation charges

6,500,791

6,068,996

Profit on disposal of fixed assets

(138,189

)

(108,166

)

Finance costs

1,217,688

1,190,410

Finance income

-

(88

)

8,554,228

8,701,116

Increase in stocks

(36,789

)

(2,207

)

Decrease/(increase) in trade and other debtors

135,443

(471,780

)

Increase/(decrease) in trade and other creditors

189,679

(1,068,745

)

Cash generated from operations

8,842,561

7,158,384

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 October 2025

31.10.25

1.11.24

£

£

Cash and cash equivalents

205,380

212,624

Year ended 31 October 2024

31.10.24

1.11.23

£

£

Cash and cash equivalents

212,624

263,476

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.11.24

Cash flow

At 31.10.25

£

£

£

Net cash

Cash at bank

212,624

(7,244

)

205,380

212,624

(7,244

)

205,380

Debt

Finance leases

(25,549,752

)

(710,037

)

(26,259,789

)

Debts falling due within 1 year

(2,318,088

)

(342,498

)

(2,660,586

)

Debts falling due after 1 year

(300,000

)

200,000

(100,000

)

(28,167,840

)

(852,535

)

(29,020,375

)

Total

(27,955,216

)

(859,779

)

(28,814,995

)