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REGISTERED NUMBER: 01250894 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

NARROW AISLE LIMITED

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Statement of Income and Retained Earnings | 10 |

| Statement of Financial Position | 11 |

| Notes to the Financial Statements | 12 |

| NARROW AISLE LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | D J Houston

| J S Porter

| L L Burt

| M Jones

| SECRETARY: | Higgs Secretarial Limited

| REGISTERED OFFICE: | 3 Waterfront Business Park

| Dudley Road

| Brierley Hill

| West Midlands

| DY5 1LX

| REGISTERED NUMBER: | 01250894 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Ian Cattell FCA

| AUDITORS: | Crombies Accountants Limited

| Chartered Accountants and Statutory Auditor

| 34 Waterloo Road

| Wolverhampton

| West Midlands

| WV1 4DG

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The principal activities of the company in the year under review were the design, development, manufacture, sale and service of forklift trucks. The company continues to provide chargeable repair, maintenance and storage services to its sister company, Flexi Forklift Rental Limited.

PRINCIPAL RISKS AND UNCERTAINTIES

The company continues to sell into some foreign markets priced in US dollars providing a partial natural hedge against purchases in US dollars. The company manages the financial risks by monitoring exchange rates, conducting transactions in the most appropriate currency, executing forward foreign exchange contracts and by maintaining close relationships with customers.

The company has some key suppliers, which it uses regularly. Relationships with them have been built up over a number of years based on quality of product, technical back up competencies, service provision and pricing. In the event of failure of supply from any one supplier, it would be disruptive but would not be a significant threat with other suppliers available to meet the company's needs. Established supply chains have worked well through recent global difficulties and are expected to remain robust for the foreseeable future.

The company is exposed to significant levels of trade credit. It manages all trade debtors by imposing customer specific terms including secured payment and by monitoring independent credit scores of each customer. Maintaining close contact with customers ensures that contract payment terms are met.

The market-related and macro-economic risks continue to create uncertainty regarding the business performance of the company and its operating segments.

RESULTS AND PERFORMANCE

The results for the year are shown in the annexed financial statements.

The company's turnover in the year decreased by 2.26% from the previous year. The directors will continue their close attention to enhancing margin improvement.

KEY PERFORMANCE INDICATORS

The key performance indicators used to assess the company's performance are the level of turnover being achieved in each business segment together with their associated gross profit percentages.

FUTURE DEVELOPMENTS

All forklift trucks produced by Narrow Aisle are reliable proven products and the company continues to ensure that quality and reliability are maintained through all aspects of manufacture, using internationally endorsed quality systems.

The company will continue to enhance its range of products by ensuring that it uses the highest quality components in expanding its product range to enable it to meet the ever-increasing requirements of the modern logistics environment.

In addition, Narrow Aisle continues to invest significantly in Research & Development with the current focus on full digital controls along with the use of cutting edge Lithion Ion battery technology, thus allowing customers greater and more efficient use of their Flexi trucks to increase their own productivity. The new developments are also aimed at reducing energy consumption and other environmental considerations.

Quality of staff is an important factor both in terms of manufacturing a reliable product and service provision to existing customers and to enable the company to grow. It is Narrow Aisle's policy to ensure that it employs sufficient staff, adequately trained and of the right calibre to meet these requirements.

The company therefore has a strong basis for believing it will at least retain its market position, both domestically and internationally, maintain profitability at satisfactory levels and continue to generate positive cash flow through the forthcoming year.

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

DIRECTORS RESPONSIBITIES

The directors are responsible for preparing this report in accordance with applicable law and regulations

ON BEHALF OF THE BOARD:

D J Houston - Director

4 June 2026

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of design, development, manufacture, sale, maintenance and supply of fork lift truck parts.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2025 will be £ 300,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

D J Houston

J S Porter

Other changes in directors holding office are as follows:

L L Burt - appointed 22 October 2025

M Jones was appointed as a director after 31 December 2025 but prior to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

Disclosures in respect of 'Risks and Uncertainties', Results and Performance' and 'Future Developments' are shown in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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.

The Directors are also responsible for the maintenance and integrity of the corporate and financial information included in the company's website.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the group's auditors are aware of that information.

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

AUDITORS

The auditors, Crombies Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Houston - Director

4 June 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NARROW AISLE LIMITED

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NARROW AISLE LIMITED

Matters on which we are required to report by exception

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

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

- | adequate accounting records have not been kept, 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.

Responsibilities of directors

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NARROW AISLE LIMITED

Auditors' responsibilities for the audit of the financial statements

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

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

-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other management

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, UK taxation legislation and other laws and regulations identified as risk areas from making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-performed analytical procedures to identify any unusual or unexpected relationships;

-tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation;

-enquiring of management as to actual and potential litigation and claims; and

-reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NARROW AISLE LIMITED

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ian Cattell FCA (Senior Statutory Auditor)

for and on behalf of Crombies Accountants Limited

Chartered Accountants and Statutory Auditor

34 Waterloo Road

Wolverhampton

West Midlands

WV1 4DG

4 June 2026

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

STATEMENT OF INCOME AND

RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 27,228,640 |  | 27,857,603 |  |

Cost of sales | 21,225,935 |  | 21,601,792 |  |

GROSS PROFIT | 6,002,705 |  | 6,255,811 |  |

Distribution costs | 542,602 |  | 509,130 |  |

Administrative expenses | 5,856,465 |  | 5,341,067 |  |

|  |  | 6,399,067 |  |  |  |  | 5,850,197 |  |

(396,362 | ) | 405,614 |  |

Other operating income | 4 | 1,000,000 |  | 750,000 |  |

OPERATING PROFIT | 6 | 603,638 |  | 1,155,614 |  |

Interest receivable and similar income | 958 |  | 45 |  |

604,596 |  | 1,155,659 |  |

Interest payable and similar expenses | 7 | 294,558 |  | 387,300 |  |

PROFIT BEFORE TAXATION | 310,038 |  | 768,359 |  |

Tax on profit | 8 | 5,903 |  | (44,653 | ) |

PROFIT FOR THE FINANCIAL YEAR | 304,135 |  | 813,012 |  |

Retained earnings at beginning of year | 13,572,131 |  | 12,759,119 |  |

Dividends | 9 | (300,000 | ) | - |  |

RETAINED EARNINGS AT END OF YEAR | 13,576,266 |  | 13,572,131 |  |

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 221,178 |  | 245,325 |  |

CURRENT ASSETS

Stocks | 11 | 6,202,625 |  | 6,355,238 |  |

Debtors | 12 | 15,273,307 |  | 14,795,596 |  |

Cash at bank | 76,280 |  | 81,433 |  |

21,552,212 |  | 21,232,267 |  |

CREDITORS

Amounts falling due within one year | 13 | 6,558,091 |  | 5,200,634 |  |

NET CURRENT ASSETS | 14,994,121 |  | 16,031,633 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 15,215,299 |  | 16,276,958 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (1,594,022 | ) | (2,665,719 | ) |

PROVISIONS FOR LIABILITIES | 18 | (35,011 | ) | (29,108 | ) |

NET ASSETS | 13,586,266 |  | 13,582,131 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 10,000 |  | 10,000 |  |

Retained earnings | 20 | 13,576,266 |  | 13,572,131 |  |

SHAREHOLDERS' FUNDS | 13,586,266 |  | 13,582,131 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2026 and were signed on its behalf by:

D J Houston - Director

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Narrow Aisle 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 presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. (See later note)

| Financial Reporting Standard 102 - reduced disclosure exemptions

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

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 33.7.

| Judgments and key sources of estimation uncertainty

| In preparing these financial statements, the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenditure.

| The estimates and associated assumptions are based on historic experiences and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The judgements, estimates and assumptions which have significant risk of material adjustments to carrying amount of assets and liabilities are:

| -Tangible fixed assets

| Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors, In re-assessing asset lives, factors such as technical innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

| -Stock provisions

| The company has recognised provisions for the impairment of stock. The judgements, estimates and associated assumptions necessary to calculate these provisions are based on historical experience and other reasonable factors. In the case of the provisions for the impairment of stock, this covers obsolescence through technological or customer specific reasons. This provision is based on the assessment of stock value and ageing, quantities on hand, usage, changes in the market, technical developments and warranty periods. The value of stock included in the financial statements is net of the provision for the impairment of stock.

| -Bad debt provision

| The company has recognised provisions against specific trade debtor balances. The judgements and estimates necessary to calculate these provisions are based on historical experience and other reasonable factors. This provision is based on the age of debt balances and the assessed recoverability. The value of trade debtors in note 11 is stated net of the provision of bad debts.

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and it can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised from the sale of goods when the entity has transferred to the buyer the significant risks and rewards of ownership of the goods. This occurs when the buyer takes possession of the goods.

| Tangible fixed assets

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

| Plant and machinery | - | 15% - 20% on cost

| Fixtures and fittings | - | 15% - 20% on cost

| Motor vehicles | - | 25% on cost

| Improvements to property are depreciated at 20% on cost or over the remaining period of the lease, whichever is the lower.

| Tangible assets 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.

| The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the statement of income and retained earnings during the period in which they are incurred.

| 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.

| At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its net realisable value. The impairment loss is recognised immediately in the financial statements.

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial assets

| Financial assets comprise cash at bank and in hand, trade debtors, amounts owed by group undertakings and other debtors; these are initially recorded at cost on the date they originate and are subsequently recorded at cost less provisions for impairment. The company considers evidence of impairment for all individual trade and other debtors and amounts owed by group undertakings, and any subsequent impairment is recognised in the statement of income and retained earnings.

| Impairment of financial assets

| Impairment provisions are recognised when there is objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes significant financial difficulties of the counterparty, default or significant delays in payment.

| Impairment provisions represent the difference between the net carrying amount of a financial asset and the value of the expected future cash receipts from that asset if lower..

| Financial liabilities

| Financial liabilities comprise trade creditors, other creditors and accruals; these are initially recorded, and subsequently carried, at cost on the date they originate.

| Financial liabilities also comprise obligations under finance lease and hire purchase contracts; these are initially recorded at cost on the date they originate and are subsequently carried at amortised cost under the effective interest method.

| Taxation

| The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is recognised in other comprehensive income or directly in equity, respectively.

| Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

| Deferred tax

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

| 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.

| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

| Foreign currency transactions are translated into sterling using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the retranslation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.

| Provisions

| Provisions are made where an event has taken place that gives rise to a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of obligation.

| Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation, and are measured at the best estimate at the statement of financial position date of the expenditure required to settle obligation, taking into account relevant risks and uncertainties.

| Operating leases

| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

| Going concern

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

| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Sale of Equipment | 23,318,804 |  | 23,991,044 |  |

| Maintenance and Service Income | 2,346,039 |  | 2,316,218 |  |

| Sales of Parts | 1,563,797 |  | 1,550,341 |  |

27,228,640 |  | 27,857,603 |  |

| No analysis of turnover by geographical market is disclosed as the directors believe such disclosure would be prejudicial to the interests of the company.

4. | OTHER OPERATING INCOME

| 2025 |  | 2024

£ | £ |

| Management charges | 1,000,000 |  | 750,000 |  |

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

5. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 4,275,686 |  | 4,246,261 |  |

| Social security costs | 580,452 |  | 498,668 |  |

| Other pension costs | 74,585 |  | 70,766 |  |

4,930,723 |  | 4,815,695 |  |

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

| 2025 |  | 2024

| Office and management | 28 |  | 23 |  |

| Production and sales | 55 |  | 58 |  |

83 |  | 81 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 538,610 |  | 688,238 |  |

| Directors' pension contributions to money purchase schemes | 2,972 |  | 4,505 |  |

| Compensation to director for loss of office | - |  | 79,830 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 3 |  | 3 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 312,477 |  | 292,569 |  |

| Pension contributions to money purchase schemes | 1,321 |  | 1,321 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 82,186 |  | 90,491 |  |

| Loss/(profit) on disposal of fixed assets | 580 |  | (5,330 | ) |

| Auditors' remuneration | 12,900 |  | 12,000 |  |

| Foreign exchange differences | 20,924 |  | (7,907 | ) |

| Rentals under operating leases-land and buildings | 120,000 |  | 120,000 |  |

| Rentals under operating leases-other | 105,935 |  | 109,566 |  |

| R & D expenditure | 1,060,140 |  | 1,115,937 |  |

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 84,926 |  | 111,920 |  |

| Loan interest | 209,632 |  | 275,380 |  |

294,558 |  | 387,300 |  |

8. | TAXATION

| Analysis of the tax charge/(credit)

| The tax charge/(credit) on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | - |  | (41,656 | ) |

| Deferred tax | 5,903 |  | (2,997 | ) |

| Tax on profit | 5,903 |  | (44,653 | ) |

| Reconciliation of total tax charge/(credit) included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 310,038 |  | 768,359 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 77,510 |  | 192,090 |  |

| Effects of:

| Expenses not deductible for tax purposes | 13,649 |  | 8,202 |  |

| Depreciation in excess of capital allowances | 6,683 |  | 11,988 |  |

| Adjustments to tax charge in respect of previous periods | - |  | (41,646 | ) |

| Deferred tax movement | 5,903 |  | (2,997 | ) |

| Utilisation of R & D claim | (97,842 | ) | (212,290 | ) |

| Total tax charge/(credit) | 5,903 |  | (44,653 | ) |

| Corporation tax is not provided to the extent that any profits are expected to be relieved by R & D claims in respect of the current and earlier periods, and those R & D claims can be assessed with reasonable assurance at the date the accounts are approved.

9. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Interim | 300,000 |  | - |  |

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

10. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

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

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2025 | 264,388 |  | 207,949 |  | 223,551 |  | 6,115 |  | 702,003 |  |

| Additions | 2,584 |  | 9,440 |  | 37,055 |  | 10,665 |  | 59,744 |  |

| Disposals | - |  | - |  | - |  | (1,795 | ) | (1,795 | ) |

| At 31 December 2025 | 266,972 |  | 217,389 |  | 260,606 |  | 14,985 |  | 759,952 |  |

| DEPRECIATION

| At 1 January 2025 | 148,187 |  | 150,873 |  | 157,087 |  | 531 |  | 456,678 |  |

| Charge for year | 37,651 |  | 15,234 |  | 26,934 |  | 2,367 |  | 82,186 |  |

| Eliminated on disposal | - |  | - |  | - |  | (90 | ) | (90 | ) |

| At 31 December 2025 | 185,838 |  | 166,107 |  | 184,021 |  | 2,808 |  | 538,774 |  |

| NET BOOK VALUE

| At 31 December 2025 | 81,134 |  | 51,282 |  | 76,585 |  | 12,177 |  | 221,178 |  |

| At 31 December 2024 | 116,201 |  | 57,076 |  | 66,464 |  | 5,584 |  | 245,325 |  |

11. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 1,407,523 |  | 1,289,076 |  |

| Work-in-progress | 4,795,102 |  | 5,066,162 |  |

6,202,625 |  | 6,355,238 |  |

| There is no material difference between the replacement cost of stocks and the amount stated above,

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

2025 | 2024 |

£ | £ |

| Trade debtors | 3,182,654 |  | 2,805,193 |  |

| Amounts owed by group undertakings | 11,728,930 |  | 11,630,574 |  |

| Other debtors | 50,727 |  | 29,103 |  |

| Prepayments and accrued income | 310,996 |  | 330,726 |  |

15,273,307 |  | 14,795,596 |  |

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 15) | 1,941,316 |  | 1,696,913 |  |

| Trade creditors | 3,496,968 |  | 2,355,172 |  |

| Amounts owed to group undertakings | - |  | 214,852 |  |

| Tax | - |  | (20,964 | ) |

| Social security and other taxes | 151,517 |  | 123,073 |  |

| VAT | 202,320 |  | 122,814 |  |

| Pensions | 470 |  | 798 |  |

| Accruals and deferred income | 765,500 |  | 707,976 |  |

6,558,091 |  | 5,200,634 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans (see note 15) | 1,594,022 |  | 2,665,719 |  |

15. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 1,941,316 |  | 1,696,913 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 977,012 |  | 1,077,012 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 617,010 |  | 1,588,707 |  |

16. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 224,636 |  | 229,566 |  |

| Between one and five years | 460,462 |  | 529,991 |  |

685,098 |  | 759,557 |  |

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

17. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 1,941,316 |  | 1,696,913 |  |

| Bank loans | 1,594,022 |  | 2,665,719 |  |

3,535,338 |  | 4,362,632 |  |

| The bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company together with a first ranking composite all-asset debenture over the company and its Security Obligors.

18. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 35,011 |  | 29,108 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 29,108 |  |

| Charge to Income Statement during year | 5,903 |  |

| Balance at 31 December 2025 | 35,011 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 10,000 | Ordinary | £1 | 10,000 |  | 10,000 |  |

| The company has one class of ordinary shares which have no restrictions on the distribution of dividends or the repayment of capital.

20. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 13,572,131 |  |

| Profit for the year | 304,135 |  |

| Dividends | (300,000 | ) |

| At 31 December 2025 | 13,576,266 |  |

| NARROW AISLE LIMITED (REGISTERED NUMBER: 01250894) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

21. | ULTIMATE PARENT COMPANY

| Narrow Aisle Group Topco Limited, a company registered in England and Wales, is the ultimate parent company.

| The largest group of undertakings for which group financial statements are drawn up is Narrow Aisle Group Topco Limited whose registered office is located at 3 Waterfront Business Park, Dudley Road, Brierley Hill, West Midlands DY5 1LX.

22. | CONTINGENT LIABILITIES

| The company is a party to a composite account agreement between Narrow Aisle Group Topco Limited and its bankers which provides unlimited cross-guarantees by and between all parties to the agreement, secured by a cross company debenture.

23. | OTHER COMMITMENTS

| The company provides a Residual Value Guarantee on certain sales contracts subject to external financing agreements. These guarantees indemnify the finance providers by guaranteeing a residual value for the relevant assets at the termination of the financing agreement. No provision is made in respect of future payments due under these agreements as the guaranteed amounts are calculated to be less than the market value of the underlying assets at termination, and hence no net liability is considered to exist at the balance sheet date.

24. | RELATED PARTY DISCLOSURES

| During the year the company rented property from a related party under the control of persons with significant influence over the company. The amount paid during the year was £91,500 (2024 £91,526) The balance outstanding from the company at the year end was £NIL (2024 £Nil)

| The company also rented property from a retirement benefit scheme established for the benefit of past and current employees. The amount paid during the year was £28,500 (2024 £28,500) There was no balance due at either 31 December 2025 or 31 December 2024.

| The company is a wholly owned subsidiary of Narrow Aisle Group Topco Limited and has taken advantage of the exemption conferred by FRS102 section 33 not to disclose transactions with that company or other wholly owned subsidiaries.

25. | ULTIMATE CONTROLLING PARTY

| There is no one ultimate controlling party.