Company registration number 03305853 (England and Wales)
RGE SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
RGE SERVICES LIMITED
COMPANY INFORMATION
Directors
S Benson
J Shepherd
(Appointed 6 January 2026)
J Peden
(Appointed 6 January 2026)
Company number
03305853
Registered office
The Nurseries
Gravel Lane
Chigwell
Essex
England
IG7 6BZ
Auditor
Azets Audit Services
5 Yeomans Court
Ware Road
Hertford
Hertfordshire
United Kingdom
SG13 7HJ
RGE SERVICES LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 24
RGE SERVICES LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 1 -

The Directors present the strategic report for the period ended 30 September 2025.

Review of the business

RGE delivered strong performance during the period, recording revenues of £40.9m, which equated to a 4.4% increase compared to the previous year on a like for like basis. The business reported gross profit of £15.6m, which compared to £13.1m in the prior year, and a gross profit margin of 38% (2024: 42%). The business continued to focus during the period on delivering and developing excellent long term client relationships, with strong client satisfaction scores, serving the social housing and related sectors with fire and electrical safety compliance offerings.

After administrative expenses and other operating income, RGE made an operating profit of £4.5m (2024: £4.9m) with an operating profit margin of 11% (2024: 16%), which included exceptional restructuring costs of £0.6m in the period. After adjusting for depreciation, amortisation, and exceptional items, EBITDA for the year was £6.5m (2024 £5.7m) representing an EBITDA margin of 16% (2024: 18%).

The business continued to invest in the workforce, with the average number of employees in the period increasing to 318 (2024: 244). Growth was seen across both the engineering team and head office function. This investment supports the business’s commitment to maintaining high standards of service delivery and ensuring that its engineering capability reflects the values and ethical standards that the business considers non negotiable.

The business's strategy is to continue to grow its presence in the fire, electrical and related sectors by providing installation and compliance services. This is expected to be delivered through organic growth in established sectors and well as expanding into new, complementary sectors. Across all sectors, the businesses objective is to deliver work safely and to build and maintain excellent long-term customer relationships. The business is also focused on reducing the operating costs through investment in best in class IT systems and equipment.

Principal risks and uncertainties

Financial risk

The Company is exposed to a variety of financial risks because its operations, including credit risk and liquidity risk. The Directors have established policies and procedures to monitor and manage these risks in a prudent manner.

Operational risk

Operational risk is the risk of direct or indirect loss arising from a wide variety of causes associated with the company's processes, personnel, technology, and integration of acquisitions and from external factors other than credit and market risks, such as those arising from legal and regulatory requirements and generally accepted standards of corporate behaviour. The governance framework, supported by detailed operational procedures, manages operational risks to balance the avoidance of financial loss and damage to reputation with overall cost effectiveness and to avoid control procedures that restrict initiative and creativity.

Liquidity risk

Liquidity risk arises from the finance charges and principal repayments on its debt instruments. The C ompany's policy is to ensure that it will always have sufficient cash to allow it to meet its financial obligations as they become due. To achieve this the C ompany's management makes use of 13 week rolling weekly cash forecasts and minimum 12-month budgets and forecasts.

Interest risk

The C ompany is exposed to cash flow interest rate risk due to fluctuations in interest rates on its floating-rate deposits, bank overdrafts, and bank borrowings.

Risk management and consequence of decisions

Key strategic and operational risks are reviewed at each monthly board meeting specifically considering the likelihood, impact and mitigations. As the environment in which the C ompany and its fellow subsidiaries operate changes the risks can also change as can the grading of risks.

Key decisions made by the board will be supported by specific discussion papers and analysis. The key factors in arriving at the decision are recorded in the board minutes or other appropriate media. Further information on key risks and the management approach are set out later in this report.

RGE SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 2 -

Financial key performance indicators

The Company’s key performance indicators during the period were:

| 2025 | 2024
| £’000 | £’000
Revenue | 40,897 | 31,352
Gross Proft | 15,571 | 13,120
EBITDA | 6,520 | 5,681
Operating Profit | 4,477 | 4,901

Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the C ompany continues and that the appropriate training is arranged. It is the policy of the C ompany that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The C ompany's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the C ompany's performance.

On behalf of the board

S Benson
Director
11 May 2026
RGE SERVICES LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 3 -

The Directors present their annual report and financial statements for the period ended 30 September 2025.

Principal activities

The principal activity of the Company continued to be that of fire and electrical installation services.

Results and dividends

The results for the period are set out on page 9.

No ordinary dividends were paid. The Directors do not recommend payment of a final dividend.

Directors

The Directors who held office during the period and up to the date of signature of the financial statements were as follows:

S Benson
R Fagan
(Resigned 25 November 2024)
A Seymour
(Appointed 31 July 2025 and resigned 6 January 2026)
J Moran
(Appointed 18 December 2024 and resigned 21 July 2025)
J Shepherd
(Appointed 6 January 2026)
J Peden
(Appointed 6 January 2026)
Auditor

The auditor, Azets Audit Services, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Strategic report

The C ompany has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the C ompany's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the D irectors' report.

Statement of disclosure to auditor

So far as each person who was a D irector at the date of approving this report is aware, there is no relevant audit information of which the C ompany’s auditor is unaware. Additionally, the D irectors individually have taken all the necessary steps that they ought to have taken as D irectors in order to make themselves aware of all relevant audit information and to establish that the C ompany’s auditor is aware of that information.

On behalf of the board
..............................................
S Benson
Director
11 May 2026
RGE SERVICES LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 4 -

The Directors are responsible for preparing the annual report 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 including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland 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 C ompany and of the profit or loss of the C ompany 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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- 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 transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RGE SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF RGE SERVICES LIMITED
- 5 -
Opinion

We have audited the financial statements of RGE Services Limited (the 'C ompany') for the period ended 30 September 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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 30 September 2025 and of its profit for the period 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 Auditor's 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 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 C ompany'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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the Directors' r eport for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

RGE SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF RGE SERVICES LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the C ompany and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report and the Directors' r eport. We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or

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

- the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' report and from the requirement to prepare a strategic report.

Responsibilities of Directors

As explained more fully in the Directors' r esponsibilities s tatement, 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 is 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 C ompany'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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

RGE SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF RGE SERVICES LIMITED
- 7 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the C ompany through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including, the use of analytical procedures to identify unusual or unexpected relationships and transactions. Data analytics were also used for testing at journal entries throughout the year and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias;

- Attendance at the year-end stock take to assess the assumptions used by management to determine the estimated stock balance;

- Performance of substantive testing procedures over the stock balance estimate which is disclosed as a significant estimate involving management judgement;

- Discussion with management about the potential for fraud within the stock purchase cycle and the risk of theft and obsolescence.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

RGE SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF RGE SERVICES LIMITED
- 8 -

Use of our report

This report is made solely to the C ompany's member 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 C ompany's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the C ompany and the C ompany's member, for our audit work, for this report, or for the opinions we have formed.

Alison Nayler BSc FCA
Senior Statutory Auditor
For and on behalf of Azets Audit Services
12 May 2026
Chartered Accountants
Statutory Auditor
5 Yeomans Court
Ware Road
Hertford
Hertfordshire
United Kingdom
SG13 7HJ
RGE SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 9 -
Period
Year
ended
ended
30 September
30 June
2025
2024
Notes
£
£
Turnover
3
40,897,402
31,351,908
Cost of sales
(25,326,196)
(18,231,592)
Gross profit
15,571,206
13,120,316
Administrative expenses
(11,116,116)
(8,236,704)
Other operating income
21,839
17,618
Operating profit
5
4,476,929
4,901,230
Interest receivable and similar income
8
175,764
63,367
Interest payable and similar expenses
9
(384,254)
(77,007)
Profit before taxation
4,268,439
4,887,590
Tax on profit
10
(240,503)
(1,056,895)
Profit for the financial period
4,027,936
3,830,695

There were no recognised gains or losses for 2025 and 2024 other than those includes in statement of comprehensive income.

RGE SERVICES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
328,165
-
0
Tangible assets
12
2,592,217
2,344,972
2,920,382
2,344,972
Current assets
Stocks
13
1,137,723
1,372,685
Debtors
14
20,848,144
14,881,474
Cash at bank and in hand
162,808
2,523,836
22,148,675
18,777,995
Creditors: amounts falling due within one year
15
(8,152,953)
(8,653,397)
Net current assets
13,995,722
10,124,598
Total assets less current liabilities
16,916,104
12,469,570
Creditors: amounts falling due after more than one year
16
(1,264,287)
(1,206,518)
Deferred tax liability
18
(665,528)
(304,699)
Net assets
14,986,289
10,958,353
Capital and reserves
Called up share capital
20
800
800
Capital redemption reserve
200
200
Profit and loss reserves
14,985,289
10,957,353
Total equity
14,986,289
10,958,353
The financial statements were approved by the board of Directors and authorised for issue on 11 May 2026 and are signed on its behalf by:
S Benson
Director
Company Registration No. 03305853
RGE SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 11 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 July 2023
800
200
7,126,658
7,127,658
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
3,830,695
3,830,695
Balance at 30 June 2024
800
200
10,957,353
10,958,353
Period ended 30 September 2025:
Profit and total comprehensive income
-
-
4,027,936
4,027,936
Balance at 30 September 2025
800
200
14,985,289
14,986,289
RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 12 -
1
Accounting policies
Company information

RGE Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Nurseries, Gravel Lane, Chigwell, Essex, England, IG7 6BZ.

1.1
Reporting period

In the current period, the Company increased its reporting period to 30 September 2025 to coincide with fellow Group companies, and the figures presented are for a fifteen month period. The prior year results cover a twelve month period and are therefore not directly comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the C ompany. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This c ompany is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he C ompany has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the C ompany are consolidated in the financial statements of PYR Topco Limited. These consolidated financial statements are available from Companies House.

1.3
Going concern

The financial statements have been prepared on the going concern basis.true

As outlined in the Strategic Report, the Company delivered a strong performance during the period, securing a number of new customer contracts.

Having reviewed Company forecasts and made appropriate enquiries, the Directors have a reasonable expectation that the Company has sufficient resources to continue in operational existence and meet its liabilities as they fall due over the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis in preparing the annual report and financial statements.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.4
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the Company and value added taxes.

Turnover 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 the following conditions are satisfied:

- the amount of turnover 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.

Interest income is recognised using the effective interest rate method.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
25% straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20/50% straight line
Fixtures and fittings
10/25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 14 -
1.7
Impairment of fixed assets

At each reporting period end date, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Stocks

Stocks are stated at the lower of cost and estimated replacement cost. Cost is comprised of parts and materials.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated replacement price is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

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

1.10
Financial instruments

The C ompany 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.

Financial instruments are recognised in the C ompany's balance sheet when the C ompany becomes party to the contractual provisions of the instrument.

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

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 15 -
Basic financial assets

Basic financial assets, which include debtors 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. A m ounts 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.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 16 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the C ompany’s contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

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

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the Company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

The Company operates several defined contribution plans 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 when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 17 -
1.15
Leases

At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.

Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined the Company’s incremental borrowing rate is used. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful lives.

Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

1.16

Interest income

Interest income is recognised in the statement of comprehensive income using the effective interest method.

1.17

Finance costs

Finance costs are charged to statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged 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.

1.18

Exceptional items

Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the financial performance of the C ompany. They are material either because of thier size or thier nature, and are considered nonrecurring. These items are presented within the line items to which they best relate and reported separately as exceptional items.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 18 -
2
Judgements and key sources of estimation uncertainty

In the application of the C ompany’s accounting policies, the D irectors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Stock

The year end stock figure relies on a physical stock count as the Company does not have a perpetual stock tracking system. Count coverage is targeted at being a sufficiently large sample to allow extrapolation of the result in an effective manner. The sample physically counted is in excess of eighty five percent of the stock value and quantity as at 30 th September 2025. By its nature the extrapolation of the stock count contains estimates. The Directors consider the value to be materially accurate.

Accrued income

Accrued income contains a degree of estimation uncertainty. This is estimated based on work performed measured by time incurred, to the extent it is estimated to be capable of being monetised. Management use a multiple of labour costs incurred up to the date of the financial statements to calculate the estimate. The multiplier used is based on historic average revenue earned per operative over the average operative cost. This involves an element of judgement based on historic working relationship with customers. Most of the accrued income is subsequently invoiced post the period end cut off. To the extent that a customer query is identified a provision is made. Where no significant issues exist, amounts owed for work done have been fully accrued.

Where uncertainty exists regarding the recoverability of accrued income, the Directors make a provision based on their assessment of the probability of recovery, informed by the customer’s historic experience and prevailing levels of uncertainty.

With the exception of the estimates described above, the Directors consider that there are no other significant judgements or estimates in the preparation of these financial statements.

3
Turnover
2025
2024
£
£
Turnover analysed by class of business
Fire and electrical services
40,897,402
31,351,908

All turnover was generated in the United Kingdom.

4
Exceptional item
2025
2024
£
£
Expenditure
Group restructure costs
598,151
-

Exceptional costs relate to non recurring legal fees, professional fees, recruitment and training costs directly related to the group restructure.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 19 -
5
Operating profit
2025
2024
Operating profit for the period is stated after charging:
£
£
Exchange losses
10
10
Depreciation of owned tangible fixed assets
1,411,013
753,237
Loss on disposal of tangible fixed assets
25,811
26,712
Amortisation of intangible assets
8,159
-
Operating lease charges
93,733
70,000
6
Auditor's remuneration
2025
2024
Fees payable to the Company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the Company
49,800
66,900
7
Employees

The average monthly number of persons employed by the Company during the period was:

2025
2024
Number
Number
Management
31
16
Office staff
39
34
Other staff
248
194
Total
318
244

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
14,290,749
8,679,910
Social security costs
1,633,186
950,867
Pension costs
277,740
160,435
16,201,675
9,791,212

Directors of the C ompany were remunerated from another group entity.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 20 -
8
Interest receivable and similar income
2025
2024
£
£
Interest on bank deposits
32,042
63,367
Interest receivable from group companies
143,722
-
0
175,764
63,367
9
Interest payable and similar expenses
2025
2024
£
£
Interest payable to group undertakings
216,835
-
0
Hire purchase interest
136,895
77,007
Other interest
30,524
-
0
384,254
77,007
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
(120,326)
1,173,331
Deferred tax
Origination and reversal of timing differences
360,829
(116,436)
Total tax charge
240,503
1,056,895

The actual charge for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
4,268,439
4,887,590
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
1,067,110
1,221,898
Tax effect of expenses that are not deductible in determining taxable profit
459,990
71,224
Adjustments in respect of prior years
(120,326)
-
0
Group relief
(1,058,244)
(236,227)
Capital allowances in excess of depreciation
360,829
-
0
Capital allowances
(468,856)
-
0
Taxation charge for the period
240,503
1,056,895
RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 21 -
11
Intangible fixed assets
Software
£
Cost
At 1 July 2024
-
0
Additions
284,307
Transfers from tangible fixed assets
61,411
At 30 September 2025
345,718
Amortisation and impairment
At 1 July 2024
-
0
Amortisation charged for the period
8,159
Transfers from tangible fixed assets
9,394
At 30 September 2025
17,553
Carrying amount
At 30 September 2025
328,165
At 30 June 2024
-
0
12
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2024
89,532
286,109
3,663,524
4,039,165
Additions
62,655
141,981
1,493,114
1,697,750
Disposals
-
0
-
0
(36,874)
(36,874)
Transfers to intangible fixed assets
-
0
(61,411)
-
0
(61,411)
At 30 September 2025
152,187
366,679
5,119,764
5,638,630
Depreciation and impairment
At 1 July 2024
24,564
98,347
1,571,282
1,694,193
Depreciation charged in the period
48,321
64,314
1,298,378
1,411,013
Eliminated in respect of disposals
-
0
-
0
(49,399)
(49,399)
Transfers to intangible fixed assets
-
0
(9,394)
-
0
(9,394)
At 30 September 2025
72,885
153,267
2,820,261
3,046,413
Carrying amount
At 30 September 2025
79,302
213,412
2,299,503
2,592,217
At 30 June 2024
64,968
187,762
2,092,242
2,344,972
RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 22 -
13
Stocks
2025
2024
£
£
Consumables
1,137,723
1,372,685

At balance sheet date, there is a stock provision of £80,000 (2024: £Nil).

14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,620,219
4,905,845
Corporation tax recoverable
32,710
-
0
Amounts owed by group undertakings
11,062,324
4,979,770
Other debtors
41,715
27,916
Prepayments and accrued income
7,091,176
4,967,943
20,848,144
14,881,474

Amounts owed by group undertakings are unsecured and repayable on demand. £2.5 m of the balance attracts interest at SONIA + 6%.

Accrued income is stated net of provisions totalling £640,591. These provisions are specific and are included on the basis there is some uncertainty regarding their recoverability.

15
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
17
951,479
737,387
Trade creditors
1,877,603
2,967,426
Amounts owed to group undertakings
2,821,086
1,475,290
Corporation tax
-
0
564,462
Other taxation and social security
311,615
957,326
Deferred income
852,499
867,303
Other creditors
937,573
839,078
Accruals
401,098
245,125
8,152,953
8,653,397

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 23 -
16
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
17
1,264,287
1,206,518
17
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
951,479
737,387
In two to five years
1,264,287
1,206,518
2,215,766
1,943,905

The finance lease obligations represent hire purchase liabilities for motor vehicles. All leases are on a fixed repayment basis and are secured against the related assets.

18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the Company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
665,528
304,699
2025
Movements in the period:
£
Liability at 1 July 2024
304,699
Charge to profit or loss
360,829
Liability at 30 September 2025
665,528
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
277,740
160,435

A defined contribution pension scheme is operated for all qualifying employees. At the balance sheet date, the C ompany had unpaid defined contribution pension payable of £28,763 (2024: £15,113).

RGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
- 24 -
20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
800
800
800
800

Ordinary share capital is entitled to full rights in the C ompany, including voting, dividends, and distributions.

21
Financial commitments, guarantees and contingent liabilities

During the year, the Company has given an unlimited guarantee and debenture to external lenders in respect of amounts owed by RGE Bidco Limited.

22
Operating lease commitments
Lessee

At the reporting end date the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
30,000
60,000
Between two and five years
-
0
45,000
30,000
105,000

Operating lease payments represent rentals payable by the Company for a property.

23
Related party transactions

The C ompany 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.

24
Ultimate controlling party

The Company's immediate parent company is RG Tradeco Limited, a company incorporated and registered in England.

The smallest and largest group of undertakings for which consolidated financial statements have been drawn up is headed by Pyr Topco Limited. Copies of the consolidated financial statements of Pyr Topco Limited are available on request from Companies House. The registered office of Pyr Topco Limited is The Nurseries, Gravel Lane, Chigwell, Essex, England, IG7 6BZ.

The ultimate controlling party is Equistone Partners Europe Limited.

2025-09-30 2024-07-01 false false false CCH Software CCH Accounts Production 2026.100 S Benson R Fagan First Inital M H Aspinall A Seymour J Moran J Shepherd J Peden 03305853 2024-07-01 2025-09-30 03305853 bus:Director1 2024-07-01 2025-09-30 03305853 bus:Director6 2024-07-01 2025-09-30 03305853 bus:Director7 2024-07-01 2025-09-30 03305853 bus:Director2 2024-07-01 2025-09-30 03305853 bus:Director4 2024-07-01 2025-09-30 03305853 bus:Director5 2024-07-01 2025-09-30 03305853 bus:Director3 2024-07-01 2025-09-30 03305853 bus:RegisteredOffice 2024-07-01 2025-09-30 03305853 2025-09-30 03305853 2023-07-01 2024-06-30 03305853 core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 03305853 core:RetainedEarningsAccumulatedLosses 2024-07-01 2025-09-30 03305853 core:OtherResidualIntangibleAssets 2025-09-30 03305853 core:OtherResidualIntangibleAssets 2024-06-30 03305853 core:ComputerSoftware 2025-09-30 03305853 core:ComputerSoftware 2024-06-30 03305853 2024-06-30 03305853 core:PlantMachinery 2025-09-30 03305853 core:FurnitureFittings 2025-09-30 03305853 core:MotorVehicles 2025-09-30 03305853 core:PlantMachinery 2024-06-30 03305853 core:FurnitureFittings 2024-06-30 03305853 core:MotorVehicles 2024-06-30 03305853 core:CurrentFinancialInstruments core:WithinOneYear 2025-09-30 03305853 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 03305853 core:Non-currentFinancialInstruments core:AfterOneYear 2025-09-30 03305853 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 03305853 core:ShareCapital 2025-09-30 03305853 core:ShareCapital 2024-06-30 03305853 core:CapitalRedemptionReserve 2025-09-30 03305853 core:CapitalRedemptionReserve 2024-06-30 03305853 core:RetainedEarningsAccumulatedLosses 2025-09-30 03305853 core:RetainedEarningsAccumulatedLosses 2024-06-30 03305853 core:ShareCapital 2023-06-30 03305853 core:CapitalRedemptionReserve 2023-06-30 03305853 core:RetainedEarningsAccumulatedLosses 2023-06-30 03305853 core:ShareCapitalOrdinaryShareClass1 2025-09-30 03305853 core:ShareCapitalOrdinaryShareClass1 2024-06-30 03305853 core:IntangibleAssetsOtherThanGoodwill 2024-07-01 2025-09-30 03305853 core:ComputerSoftware 2024-07-01 2025-09-30 03305853 core:PlantMachinery 2024-07-01 2025-09-30 03305853 core:FurnitureFittings 2024-07-01 2025-09-30 03305853 core:MotorVehicles 2024-07-01 2025-09-30 03305853 1 2024-07-01 2025-09-30 03305853 1 2023-07-01 2024-06-30 03305853 core:UKTax 2024-07-01 2025-09-30 03305853 core:UKTax 2023-07-01 2024-06-30 03305853 2 2024-07-01 2025-09-30 03305853 2 2023-07-01 2024-06-30 03305853 core:ComputerSoftware 2024-06-30 03305853 core:ComputerSoftware core:ExternallyAcquiredIntangibleAssets 2024-07-01 2025-09-30 03305853 core:PlantMachinery 2024-06-30 03305853 core:FurnitureFittings 2024-06-30 03305853 core:MotorVehicles 2024-06-30 03305853 2024-06-30 03305853 core:CurrentFinancialInstruments 2025-09-30 03305853 core:CurrentFinancialInstruments 2024-06-30 03305853 core:WithinOneYear 2025-09-30 03305853 core:WithinOneYear 2024-06-30 03305853 core:BetweenTwoFiveYears 2025-09-30 03305853 core:BetweenTwoFiveYears 2024-06-30 03305853 bus:OrdinaryShareClass1 2024-07-01 2025-09-30 03305853 bus:OrdinaryShareClass1 2025-09-30 03305853 bus:OrdinaryShareClass1 2024-06-30 03305853 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-09-30 03305853 bus:FRS102 2024-07-01 2025-09-30 03305853 bus:Audited 2024-07-01 2025-09-30 03305853 bus:FullAccounts 2024-07-01 2025-09-30 xbrli:pure xbrli:shares iso4217:GBP