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REGISTERED NUMBER: 07560124 (England and Wales)

| VALE PROTECTIVE COATINGS LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 AUGUST 2025 |

VALE PROTECTIVE COATINGS LIMITED (REGISTERED NUMBER: 07560124)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

| Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |  | to |  | 6

VALE PROTECTIVE COATINGS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2025

| DIRECTORS: | S Black

| S J Durant

| J Kirkup

| Mrs K A Kirkup

| REGISTERED OFFICE: | Building 152

| Langar Trading Estate

| Harby Road

| Langar

| Nottinghamshire

| NG13 9HY

| REGISTERED NUMBER: | 07560124 (England and Wales)

| ACCOUNTANTS: | Duncan & Toplis Limited

| 3 Castlegate

| Grantham

| Lincolnshire

| NG31 6SF

VALE PROTECTIVE COATINGS LIMITED (REGISTERED NUMBER: 07560124)

STATEMENT OF FINANCIAL POSITION

31 AUGUST 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 4 | 2,125,656 |  | 1,672,881 |  |

CURRENT ASSETS

Inventories | 475,769 |  | 415,994 |  |

Debtors | 5 | 2,783,864 |  | 2,275,441 |  |

Cash at bank | - |  | 4,849 |  |

3,259,633 |  | 2,696,284 |  |

CREDITORS

Amounts falling due within one year | 6 | 4,003,822 |  | 3,341,986 |  |

NET CURRENT LIABILITIES | (744,189 | ) | (645,702 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,381,467 |  | 1,027,179 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (392,018 | ) | (268,709 | ) |

PROVISIONS FOR LIABILITIES | (357,387 | ) | (294,057 | ) |

NET ASSETS | 632,062 |  | 464,413 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 475,000 |  | 475,000 |  |

Retained earnings | 157,062 |  | (10,587 | ) |

632,062 |  | 464,413 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

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

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

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 6 May 2026 and were signed on its behalf by:

S J Durant - Director

VALE PROTECTIVE COATINGS LIMITED (REGISTERED NUMBER: 07560124)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. | STATUTORY INFORMATION

| Vale Protective Coatings 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Improvements to property | - | Straight line over 15 years

| Plant and machinery | - | 1 - 15 years straight line

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 25% on cost

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Stocks

| Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

| Financial instruments

| The company has chosen to adopt the FRS102 1A in respect of financial instruments.

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

VALE PROTECTIVE COATINGS LIMITED (REGISTERED NUMBER: 07560124)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 52 (2024 - 46 ) .

4. | PROPERTY, PLANT AND EQUIPMENT

| Improvements |

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

| property |  | machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 September 2024 | 968,730 |  | 1,572,833 |  | 586,515 |  | 47,221 |  | 3,175,299 |  |

| Additions | 483,391 |  | 113,280 |  | 123,989 |  | 15,862 |  | 736,522 |  |

| Disposals | - |  | - |  | (34,999 | ) | (309 | ) | (35,308 | ) |

| At 31 August 2025 | 1,452,121 |  | 1,686,113 |  | 675,505 |  | 62,774 |  | 3,876,513 |  |

| DEPRECIATION

| At 1 September 2024 | 398,767 |  | 907,545 |  | 162,346 |  | 33,760 |  | 1,502,418 |  |

| Charge for year | 82,683 |  | 110,124 |  | 60,180 |  | 7,603 |  | 260,590 |  |

| Eliminated on disposal | - |  | - |  | (12,067 | ) | (84 | ) | (12,151 | ) |

| At 31 August 2025 | 481,450 |  | 1,017,669 |  | 210,459 |  | 41,279 |  | 1,750,857 |  |

| NET BOOK VALUE

| At 31 August 2025 | 970,671 |  | 668,444 |  | 465,046 |  | 21,495 |  | 2,125,656 |  |

| At 31 August 2024 | 569,963 |  | 665,288 |  | 424,169 |  | 13,461 |  | 1,672,881 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 2,539,720 |  | 2,183,537 |  |

| Other debtors | 46,822 |  | 50,858 |  |

| Prepayments and accrued income | 197,322 |  | 41,046 |  |

2,783,864 |  | 2,275,441 |  |

| Trade debtors are subject to invoice financing. Where applicable, funds advanced for invoice financing are recorded as payments received on account within creditors.

VALE PROTECTIVE COATINGS LIMITED (REGISTERED NUMBER: 07560124)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 42,126 |  | 22,000 |  |

| Hire purchase contracts | 116,200 |  | 142,961 |  |

| Trade creditors | 1,243,317 |  | 1,205,305 |  |

| Payments received on account | 1,941,091 |  | 1,683,555 |  |

| Taxation | 30,515 |  | 14,101 |  |

| Other taxes and social security | 463,132 |  | 155,912 |  |

| Other creditors | 112,566 |  | 96,504 |  |

| Accrued expenses | 54,875 |  | 21,648 |  |

4,003,822 |  | 3,341,986 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | - |  | 18,334 |  |

| Hire purchase contracts | 107,894 |  | 185,229 |  |

| Other creditors | 284,124 |  | 65,146 |  |

392,018 |  | 268,709 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 224,094 |  | 328,190 |  |

| Finance Factor | 1,941,091 |  | 1,683,555 |  |

2,165,185 |  | 2,011,745 |  |

| Included within creditors is £1,941,091 (2024: £1,683,555) due to the finance factoring provider, which is secured on the trade debtors of the company up to the limit of £1,800,000 (2024: £1,800,000). Personal guarantees were provided to the finance factoring provider in respect of the liabilities of Vale Protective Coatings Ltd by the directors, namely Mr S Durant, Mr J Kirkup, Mrs K Kirkup, Mr S Black.

| Included within hire purchase contracts are contracts amounting to £6,167 (2024: £6,167) that are personally guaranteed by the directors.

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and full paid:

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

|  | value: |  | £ |  |  | £ |  |

| 232,500 |  | Redeemable Preference |  | £2 |  | 465,000 |  |  | 465,000 |  |

| 2,250 |  | A Ordinary |  | £1 |  | 2,250 |  |  | 2,250 |  |

| 1,125 |  | B Ordinary |  | £1 |  | 1,125 |  |  | 1,125 |  |

| 2,250 |  | C Ordinary |  | £1 |  | 2,250 |  |  | 2,250 |  |

| 1,125 |  | D Ordinary |  | £1 |  | 1,125 |  |  | 1,125 |  |

| 3,250 |  | E Ordinary |  | £1 |  | 3,250 |  |  | 3,250 |  |

|  | 475,000 |  |  | 475,000 |  |

VALE PROTECTIVE COATINGS LIMITED (REGISTERED NUMBER: 07560124)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

10. | OTHER FINANCIAL COMMITMENTS

| The company has commitments due as follows:

|  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |

| Due in less than one year |  | 69,743 |  |  | 106,123 |  |

| Due in more than one year |  | - |  |  | 69,743 |  |

11. | RELATED PARTY DISCLOSURES

| Included within Other creditors is a loan of £395,193 (2024: £117,146) introduced by Mr A Black, the father of Mr S Black and Mrs K Kirkup, directors and ordinary shareholders of the company. The loan is an interest free loan and repayable on demand.

12. | GOING CONCERN

| The directors recognise that the company has net current liabilities of £744,460 (2024: £654,702) at the statement of financial position date.The company has a good working relationship with its commercial factoring provider, who supports the company. The directors therefore consider that it is appropriate to prepare the accounts on the going concern basis.