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REGISTERED NUMBER: 00565938 (England and Wales)

| Oilgear Towler Limited |

| Financial Statements |

| for the period |

| 1 January 2024 to 30 December 2024 |

Oilgear Towler Limited (Registered number: 00565938)

Contents of the Financial Statements

for the period 1 January 2024 to 30 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Oilgear Towler Limited

Company Information

for the period 1 January 2024 to 30 December 2024

| DIRECTORS: | N T Dave

| M Fangman

| REGISTERED OFFICE: | 37 Burley Road

| Leeds

| West Yorkshire

| LS3 1JT

| REGISTERED NUMBER: | 00565938 (England and Wales)

| AUDITORS: | SMH Jolliffe Cork Audit Ltd

| Accountants & Statutory Auditors

| 33 George Street

| Wakefield

| West Yorkshire

| WF1 1LX

Oilgear Towler Limited (Registered number: 00565938)

Balance Sheet

30 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 518,583 |  | 562,735 |  |

Investments | 5 | - |  | - |  |

518,583 |  | 562,735 |  |

CURRENT ASSETS

Stocks | 1,662,756 |  | 2,350,314 |  |

Debtors | 6 | 3,611,406 |  | 3,606,135 |  |

Cash at bank and in hand | 103,318 |  | 924,898 |  |

5,377,480 |  | 6,881,347 |  |

CREDITORS

Amounts falling due within one year | 7 | 4,756,092 |  | 5,709,618 |  |

NET CURRENT ASSETS | 621,388 |  | 1,171,729 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,139,971 |  | 1,734,464 |  |

PENSION LIABILITY | 11 | (532,000 | ) | (937,000 | ) |

NET ASSETS | 607,971 |  | 797,464 |  |

Oilgear Towler Limited (Registered number: 00565938)

Balance Sheet - continued

30 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 9 | 8,289,330 |  | 8,289,330 |  |

Retained earnings | (7,681,359 | ) | (7,491,866 | ) |

SHAREHOLDERS' FUNDS | 607,971 |  | 797,464 |  |

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 by the Board of Directors and authorised for issue on 1 May 2026 and were signed on its behalf by:

M Fangman - Director

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements

for the period 1 January 2024 to 30 December 2024

1. | STATUTORY INFORMATION

| Oilgear Towler 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.

| The registered office and principal place of business is 37 Burley Road, Leeds, West Yorkshire LS3 1JT

| The functional and presentational currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

| Going concern

| At the year end, the company had net assets of £607,971 (2023: £797,464) and the company generated a profit after tax figure of £147,507 (2023: £369,268). The company has maintained a net current asset position amounting to £621,388 (2023: £1,171,729).

| In reaching their conclusion, the directors have reviewed the projected revenue, likely funding requirement and sales order book of the company for at least the next 12 months from the date of approval of the financial statements. Based on the forecasts they have not identified any factors that would cast significant doubt about the ability of the company to continue as a going concern.

| Through the immediate holding company, Oilgear European Holdings Limited, the company has the support from the ultimate parent company, Texas Hydraulics Holdings, Inc.

| Texas Hydraulics Holdings Inc, the ultimate parent company to Oilgear European Holdings Limited, have provided a formal letter indicating their continued financial support to Oilgear Towler Limited for a period of at least 12 months from the date of sign off of the financial statements. As part of their assessment the directors have also considered the ability of Texas Hydraulic Holdings, Inc to provide any necessary financial support.

| After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

| Preparation of consolidated financial statements

| The financial statements contain information about Oilgear Towler Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Texas Hydraulics Holdings Inc, 3410 Range Road, Temple, TX 76504 USA.

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

2. | ACCOUNTING POLICIES - continued

| Revenue

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

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Sale of goods

| Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

| - the Company has transferred the significant risks and rewards of ownership to the buyer;

| - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

| - the amount of revenue can be measured reliably;

| - it is probable that the Company will receive the consideration due under the transaction; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Rendering of services

| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied;

| - the amount of revenue can be measured reliably.

| - it is probable that the Company will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and

| - the costs incurred and the costs to complete the contract can be measured reliably.

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

| Depreciation is provided on the following basis:

|  | Plant and machinery |  | - 7% - 25% Straight Line |  |

|  | Fixtures and fittings |  | - 7% - 25% Straight Line |  |

|  | Office Equipment |  | - 7% - 25% Straight Line |  |

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

2. | ACCOUNTING POLICIES - continued

| Government grants

| Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited ti profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

| Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

| 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

| The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

| All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

| Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

| Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

| Taxation

| Taxation for the period 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 balance sheet date.

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

2. | ACCOUNTING POLICIES - continued

| 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 period 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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.

| Finance costs

| Finance costs are charges to the Statement of comprehensive income over the term of the debt using the effective interest method so the amount charges is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument,

| Debtors

| Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Cash and cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more that 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

| Creditors

| Short-term creditors are measures at the transaction price, Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

| Provisions for liabilities

| Provisions are recognised when an event has taken place that gives rise to a legal constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

| Provisions are measured as the best estimate of the amount required to settle the obligation, takin into account the related risks and uncertainties.

| Increases in provision are generally charges as an expense to profit or loss.

| Borrowing costs

| All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

2. | ACCOUNTING POLICIES - continued

| Defined contribution pension plan

| The company operated a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

| The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

| Defined benefit pension plan

| The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

| The liability recognised in the Statement of financial position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of the plan assets at the reporting date (if any) out of which the obligations are to be settled.

| The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuarial to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominates in sterling and that have terms approximating to the estimates period of the future payments ('discount rate').

| The fair value of plan assets is measured in accordance with the FRS102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

| Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charges or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

| The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

| a) the increase in net pension benefit liability arising from employee service during the period; and

| b) the cost of plan introduction, benefit changes, curtailments and settlements.

| The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 50 (2023 - 48 ) .

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Office |

| machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 1,099,662 |  | 992,507 |  | 607,098 |  | 2,699,267 |  |

| Additions | 3,541 |  | 84,936 |  | 32,579 |  | 121,056 |  |

| Disposals | (28,200 | ) | (9,101 | ) | (1,780 | ) | (39,081 | ) |

| At 30 December 2024 | 1,075,003 |  | 1,068,342 |  | 637,897 |  | 2,781,242 |  |

| DEPRECIATION

| At 1 January 2024 | 971,716 |  | 703,204 |  | 461,612 |  | 2,136,532 |  |

| Charge for period | 27,650 |  | 76,982 |  | 51,302 |  | 155,934 |  |

| Eliminated on disposal | (20,101 | ) | (7,514 | ) | (2,192 | ) | (29,807 | ) |

| At 30 December 2024 | 979,265 |  | 772,672 |  | 510,722 |  | 2,262,659 |  |

| NET BOOK VALUE

| At 30 December 2024 | 95,738 |  | 295,670 |  | 127,175 |  | 518,583 |  |

| At 31 December 2023 | 127,946 |  | 289,303 |  | 145,486 |  | 562,735 |  |

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2024

| and 30 December 2024 | 74,999 |  |

| PROVISIONS

| At 1 January 2024

| and 30 December 2024 | 74,999 |  |

| NET BOOK VALUE

| At 30 December 2024 | - |  |

| At 31 December 2023 | - |  |

| Subsidiary undertakings

| The following were subsidiary undertakings of the Company:

| Name |  | Principal Activity |  | Class of Shares |  | Holdings |  |

| Towler Hydraulics Limited |  | Dormant |  | Ordinary |  | 99.99% |  |

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

6. | DEBTORS

2024 | 2023 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 2,103,537 |  | 828,822 |  |

| Amounts owed by group undertakings | 295,184 |  | 380,791 |  |

| Other debtors | 51,069 |  | - |  |

| VAT | 199,333 |  | 596,081 |  |

| Prepayments and accrued income | 849,783 |  | 1,687,941 |  |

3,498,906 |  | 3,493,635 |  |

| Amounts falling due after more than one year:

| Other debtors | 112,500 |  | 112,500 |  |

| Aggregate amounts | 3,611,406 |  | 3,606,135 |  |

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

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | - |  | 1,731,080 |  |

| Trade creditors | 559,832 |  | 561,111 |  |

| Amounts owed to group undertakings | 3,053,866 |  | 884,692 |  |

| Social security and other taxes | 51,556 |  | 46,996 |  |

| Other creditors | 97,864 |  | 200,420 |  |

| Accruals and deferred income | 992,974 |  | 2,285,319 |  |

4,756,092 |  | 5,709,618 |  |

8. | LEASING AGREEMENTS

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

2024 | 2023 |

£ | £ |

| Within one year | 294,125 |  | 294,797 |  |

| Between one and five years | 1,086,606 |  | 1,078,842 |  |

| In more than five years | 287,083 |  | 2,120,000 |  |

1,667,814 |  | 3,493,639 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 33,157,320 | Ordinary | 25p | 8,289,330 |  | 8,289,330 |  |

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Claire Lawton (Senior Statutory Auditor)

| for and on behalf of SMH Jolliffe Cork Audit Ltd

11. | EMPLOYEE BENEFIT OBLIGATIONS

| Defined contribution scheme

| The Company operates a defined contribution pension scheme. The assets of the scheme are held separately in an independently administered pension scheme. Under this scheme, the amount charges to the profit and loss account represents the contribution payable to the scheme in respect of the accounting period.

| Defined benefit scheme

| The Company also maintains a defined benefit pension scheme with assets held separately in an independently administered pension scheme. Pension benefits are linked to a member's final salary at retirement or earlier withdrawal, and their length of service, revalued between their date of leaving service and date of retirement is appropriate. Since 31 December 2002, the plan has been closed to future accrual and is also closed to new entrants. Therefore, the service cost component of the defined benefit pension cost is equal to the premiums due in respect of insured death-in-service benefits, administration expenses, and plan levies.

| Actuarial gains and losses are recognised in full in the period in which they occur and are presented in the statement of other comprehensive income. The asset/liability recognised in the statement of financial position represents the present value of the defined benefit obligations. as reduced by the fair value of assets.

| The results of the most recent full actuarial valuation as at 5 April 2022 were updated to the accounting date by an independent qualified actuary. As required by FRS 102 the value of the defined benefit obligation and the current service cost has been measured using the projected unit credit method.

| The amounts recognised in the balance sheet are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Present value of funded obligations | (10,674,000 | ) | (11,709,000 | ) |

| Fair value of plan assets | 10,142,000 |  | 10,772,000 |  |

(532,000 | ) | (937,000 | ) |

| Present value of unfunded obligations | - |  | - |  |

| Deficit | (532,000 | ) | (937,000 | ) |

| Net liability | (532,000 | ) | (937,000 | ) |

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

11. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| The amounts recognised in profit or loss are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Current service cost | 74,000 |  | 178,000 |  |

| Net interest from net defined benefit asset/liability | 25,000 |  | 57,000 |  |

| Past service cost | - |  | - |  |

99,000 |  | 235,000 |  |

| Actual return on plan assets | (644,000 | ) | 817,000 |  |

| Changes in the present value of the defined benefit obligation are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Opening defined benefit obligation | 11,709,000 |  | 12,380,000 |  |

| Current service cost | 4,000 |  | 13,000 |  |

| Interest cost | 510,000 |  | 541,000 |  |

| Actuarial losses/(gains) | (792,000 | ) | 354,000 |  |

| Benefits paid | (757,000 | ) | (1,579,000 | ) |

10,674,000 |  | 11,709,000 |  |

| Changes in the fair value of scheme assets are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Opening fair value of scheme assets | 10,772,000 |  | 10,884,000 |  |

| Scheme administrative costs | (70,000 | ) | (165,000 | ) |

| Contributions by employer | 841,000 |  | 815,000 |  |

| Interest income on scheme assets | 485,000 |  | 484,000 |  |

| Actuarial gains/(losses) | (1,129,000 | ) | 333,000 |  |

| Benefits paid | (757,000 | ) | (1,579,000 | ) |

10,142,000 |  | 10,772,000 |  |

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

11. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| The amounts recognised in other comprehensive income are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Actuarial gains/(losses) | (337,000 | ) | (21,000 | ) |

(337,000 | ) | (21,000 | ) |

| The major categories of scheme assets as amounts of total scheme assets are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Equities | 2,293,000 |  | 1,832,000 |  |

| Bonds | 908,000 |  | 724,000 |  |

| Property | 286,000 |  | 381,000 |  |

| Alternatives | 767,000 |  | 980,000 |  |

| Gilts | 5,494,000 |  | 5,966,000 |  |

| Cash | 298,000 |  | 784,000 |  |

| Annuity | 96,000 |  | 105,000 |  |

10,142,000 |  | 10,772,000 |  |

| Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2024 | 2023 |

| Discount rate | 5.40% | 4.50% |

| Future salary increases | 3.60% | 3.50% |

| Future pension increases - Post 88 GMP | 2.50% | 2.50% |

| Future pension increases - Post 97 Excess | 2.70% | 2.60% |

| Future pension increases - Post 97 | 3.10% | 3.00% |

| Retail Prices Index (RPI) | 3.50% | 3.40% |

| Consumer Prices Index (CPI) | 3.10% | 3.00% |

| Mortality rates |  | 2024 |  | 2023 |  |

|  | Years |  | Years |  |

| Male aged 65 now |  | 20.6 |  | 20.6 |  |

| At 65 for a male aged 45 now |  | 21.6 |  | 21.5 |  |

| Female aged 65 now |  | 22.7 |  | 22.6 |  |

| At 65 for a female aged 45 now |  | 23.9 |  | 23.8 |  |

| Future contributions

| The latest actuarial valuation of the plan was carried out as at 5 April 2022. Over the year the Company has paid £841,182 to the plan in respect of deficit contributions, administrative expenses, levies, and death in service premiums, which is in line with the Schedule of Contributions dates 31 December 2022. The company has paid £868,101 in the year to 30 December 2025. In line with the schedule of contributions the company expects to pay £895,881 to the plan during the year to 30 December 2026. However, the next triennial actuarial is due as at 5 April 2025 and as part of the valuation a new schedule of contributions will be agreed.

Oilgear Towler Limited (Registered number: 00565938)

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

12. | OTHER FINANCIAL COMMITMENTS

| The company has a guarantee in favour of HMRC at 31 December 2024 amounting to £20,000 (2023 - £20,000)

13. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of Oilgear European Holdings Limited, a company incorporated in England and Wales.

| The smallest and largest group in which the results of the company are consolidated is that headed by Texas Hydraulics Holding, Inc, a company with a registered office at 3410 Range Road, Temple, TX 76504, USA. The parent company does not prepare publicly available consolidated financial statements.

| The directors consider the ultimate controlling party to be Texas Hydraulics Holdings Inc. In November 2024, funds managed by affiliates of Fortress Investment Group in the United States acquired Texas Hydraulics Holdings Inc. There are no controlling parties within these funds.