Company registration number 01327793 (England and Wales)
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
COMPANY INFORMATION
Directors
Mr M S Curry
Mr M J Ranford
Mr C W Hollyhead
Secretary
Mrs S Randon
Company number
01327793
Registered office
Unit 4, Fryers Road
Walsall
West Midlands
England
WS2 7LZ
Auditor
Barnett Ravenscroft Limited
13 Portland Road
Edgbaston
Birmingham
West Midlands
B16 9HN
Business address
Unit 4, Fryers Road
Walsall
West Midlands
England
WS2 7LZ
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of income and retained earnings
8
Statement of financial position
9
Statement of cash flows
10
Notes to the financial statements
11 - 18
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Review of the business

The company has continued to deliver a range of lifting, hoisting and mechanical handling products throughout the year. The range and quality of the product offering has continued to develop throughout 2025 in line with the expectations of our customers.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin and net profit margin.

Company sales have decreased in 2025 to £12,955,533 from £13,022,127 in 2024, which is consistent with our expectations. With continued efficiencies throughout the company, the gross profit has increased in 2025 to £5,050,976 from £4,741,829 in 2024, with an increase in gross profit margin to 38.99% in 2025 in comparison to 36.41% in 2024.

We have kept a tight control over the overheads during the year, resulting in a higher net profit of £1,773,883 in 2025 in comparison to £1,620,332 in 2024. This shows a higher net profit margin for the year of 13.69% (12.44% in 2024).

Principal risks and uncertainties

The management of the business and the execution of the company's strategy are subject to a number of risks, as follows:

Credit risk

The company seeks to manage its credit risk by dealing with established customers, or otherwise checking the credit-worthiness of new customers, establishing clear contractual relationships with those customers and by identifying and addressing any credit issues that arise in a timely manner.

Currency risk

The company minimises its risk to foreign currency fluctuations by invoicing and purchasing in Sterling where possible and where not, by balancing as far as possible sales and purchases in the currencies to which they relate.

Liquidity risk

The company seeks to manage financial risk by ensuring that sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

Industry risk

The directors are fully aware of the company's standing in the UK and worldwide marketplace; the company is not immune to the industry specific pressures placed upon it and constantly strives for improvement

By order of the board

Mrs S Randon
Secretary
28 April 2026
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of the supply of lifting, hoisting and mechanical handling products.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £1,303,521. The directors do not recommend payment of a final dividend.

Directors

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

Mr M S Curry
Mr M J Ranford
Mr C W Hollyhead
Financial instruments

a) the financial risk management objectives and policies of the company including the policy for hedging each major type of forecasted transaction for which hedge accounting is used: and

b) the exposure of the company to price risk, credit risk, liquidity risk and cash flow risk;

unless such information is not material for the assessment of the assets, liabilities, financial position and profit or loss of the company.

Future developments

The business is not immune from the general industry conditions and oil price changes. The directors are aiming to improve efficiencies in the business to counteract the difficult industry conditions expected over the forthcoming 12 months.

Auditor

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company'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 directors' report. It has done so in respect of principle risks and uncertainties.

Statement of disclosure to auditor

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

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
By order of the board
Mrs S Randon
Secretary
28 April 2026
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 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 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; 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.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
- 5 -
Opinion

We have audited the financial statements of George Taylor & Co. Lifting Gear (Midlands) Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, the statement of financial position, the statement of cash flows 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 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 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 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 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 year 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.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED (CONTINUED)
- 6 -
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 identifie d material misstatements in the strategic report or 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.

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 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.

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.

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

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED (CONTINUED)
- 7 -

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- 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. 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.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

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 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Benjamin Eley BA FCA (Senior Statutory Auditor)
For and on behalf of Barnett Ravenscroft Limited, Statutory Auditor
Chartered Accountants
13 Portland Road
Edgbaston
Birmingham
West Midlands
B16 9HN
28 April 2026
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
2
12,955,533
13,022,127
Cost of sales
(7,904,557)
(8,280,298)
Gross profit
5,050,976
4,741,829
Distribution costs
14,284
14,548
Administrative expenses
(3,296,225)
(3,139,226)
Other operating income
3,678
-
0
Operating profit
3
1,772,713
1,617,151
Interest receivable and similar income
6
1,170
3,181
Profit before taxation
1,773,883
1,620,332
Tax on profit
7
(445,362)
(406,886)
Profit for the financial year
1,328,521
1,213,446
Retained earnings brought forward
1,275,000
1,250,000
Dividends
8
(1,303,521)
(1,188,446)
Retained earnings carried forward
1,300,000
1,275,000

The income statement has been prepared on the basis that all operations are continuing operations.

The notes on pages 11 to 18 form part of these financial statements.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
9
3,329,063
3,757,806
Debtors
10
2,628,680
2,551,475
Cash at bank and in hand
1,305,766
1,216,080
7,263,509
7,525,361
Creditors: amounts falling due within one year
11
(5,903,509)
(6,190,361)
Net current assets
1,360,000
1,335,000
Capital and reserves
Called up share capital
13
60,000
60,000
Profit and loss reserves
1,300,000
1,275,000
Total equity
1,360,000
1,335,000

The notes on pages 11 to 18 form part of these financial statements.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 28 April 2026 and are signed on its behalf by:
Mr M S Curry
Director
Company registration number 01327793 (England and Wales)
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
17
1,824,894
1,584,343
Income taxes paid
(432,857)
(359,617)
Net cash inflow from operating activities
1,392,037
1,224,726
Investing activities
Interest received
1,170
3,181
Net cash generated from investing activities
1,170
3,181
Financing activities
Dividends paid
(1,303,521)
(1,188,446)
Net cash used in financing activities
(1,303,521)
(1,188,446)
Net increase in cash and cash equivalents
89,686
39,461
Cash and cash equivalents at beginning of year
1,216,080
1,176,619
Cash and cash equivalents at end of year
1,305,766
1,216,080

The notes on pages 11 to 18 form part of these financial statements.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

George Taylor & Co. Lifting Gear (Midlands) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Fryers Road, Walsall, West Midlands, England, WS2 7LZ.

1.1
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 company. 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.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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

1.5
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.

1.6
Financial instruments
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.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -
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.

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.

1.7
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 income statement 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 income statement, 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.

1.8
Retirement benefits

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

1.9
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Sales of goods
12,955,533
13,022,127
2025
2024
£
£
Turnover analysed by geographical market
UK
11,869,081
11,972,282
Europe
386,043
396,669
Rest of the World
700,409
653,176
12,955,533
13,022,127
2025
2024
£
£
Other revenue
Interest income
1,170
3,181

3
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
4,650
4,650
Operating lease charges
33,980
22,171
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Warehouse
17
16
Sales
14
12
Administration
13
12
Total
44
40
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
4
Employees
(Continued)
- 14 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,953,605
1,791,918
Social security costs
242,499
198,784
Pension costs
67,526
55,156
2,263,630
2,045,858
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
719,288
697,925
Company pension contributions to defined contribution schemes
22,723
22,006
742,011
719,931
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
380,875
357,102
Company pension contributions to defined contribution schemes
10,000
10,000
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
1,170
3,181
7
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
445,324
407,000
Adjustments in respect of prior periods
38
(114)
Total current tax
445,362
406,886
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
7
Taxation
(Continued)
- 15 -

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

2025
2024
£
£
Profit before taxation
1,773,883
1,620,332
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
443,471
405,083
Tax effect of expenses that are not deductible in determining taxable profit
1,853
1,955
Under/(over) provided in prior years
38
(114)
Under/(over) provided in current year
-
0
(38)
Taxation charge for the year
445,362
406,886
8
Dividends
2025
2024
£
£
Interim paid
1,303,521
1,188,446
9
Stocks
2025
2024
£
£
Finished goods and goods for resale
3,329,063
3,757,806
10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,494,526
2,419,672
Other debtors
79,192
82,904
Prepayments and accrued income
54,962
48,899
2,628,680
2,551,475
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
11
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
842,823
852,372
Amounts owed to group undertakings
3,821,584
4,094,483
Corporation tax
183,324
170,819
Other taxation and social security
440,129
465,649
Accruals and deferred income
615,649
607,038
5,903,509
6,190,361
12
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
67,526
55,156

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

13
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
60,000
60,000
60,000
60,000
14
Operating lease commitments
As 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 1 year
1,493
-
0
Between 2 and 5 years
37,955
43,676
39,448
43,676
GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
15
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Polystrop Limited
76,903
125,180
57,107
57,836
Clothing Solutions Limited
-
-
45,363
-

The immediate parent of the company is George Taylor & Co. Lifting Gear (Europe) Limited which owns 100% of the issued share capital of this company.

Polystrop Limited is a company that is 100% owned by George Taylor & Co. Lifting Gear (Europe) Limited.

Clothing Solutions Limited is a company that is 100% owned by George Taylor & Co. Lifting Gear (Europe) Limited.

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Polystrop Limited
5,068
9,464

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Polystrop Limited
4,727
8,048
16
Ultimate controlling party

The company is controlled by George Taylor & Co. Lifting Gear (Europe) Limited and it regards this company as the ultimate controlling party.

GEORGE TAYLOR & CO. LIFTING GEAR (MIDLANDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
17
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,328,521
1,213,446
Adjustments for:
Taxation charged
445,362
406,886
Investment income
(1,170)
(3,181)
Movements in working capital:
Decrease/(increase) in stocks
428,743
(180,782)
Increase in debtors
(77,205)
(22,633)
(Decrease)/increase in creditors
(299,357)
170,607
Cash generated from operations
1,824,894
1,584,343
18
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
1,216,080
89,686
1,305,766
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