IRIS Accounts Production v25.4.0.155 03623882 Board of Directors 1.11.24 31.10.25 31.10.25 Medium entities 0 0 true false true true false false true true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03623882 2024-10-31 03623882 2025-10-31 03623882 2024-11-01 2025-10-31 03623882 2023-10-31 03623882 2023-11-01 2024-10-31 03623882 2024-10-31 03623882 ns15:EnglandWales 2024-11-01 2025-10-31 03623882 ns14:PoundSterling 2024-11-01 2025-10-31 03623882 ns10:Director1 2024-11-01 2025-10-31 03623882 ns10:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 03623882 ns10:MediumEntities 2024-11-01 2025-10-31 03623882 ns10:Audited 2024-11-01 2025-10-31 03623882 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-11-01 2025-10-31 03623882 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-11-01 2025-10-31 03623882 ns10:FullAccounts 2024-11-01 2025-10-31 03623882 ns10:OrdinaryShareClass1 2024-11-01 2025-10-31 03623882 ns10:Director2 2024-11-01 2025-10-31 03623882 ns10:RegisteredOffice 2024-11-01 2025-10-31 03623882 ns5:RetainedEarningsAccumulatedLosses 2024-10-31 03623882 ns5:RetainedEarningsAccumulatedLosses 2023-10-31 03623882 ns5:RetainedEarningsAccumulatedLosses 2025-10-31 03623882 ns5:RetainedEarningsAccumulatedLosses 2024-10-31 03623882 ns5:CurrentFinancialInstruments 2025-10-31 03623882 ns5:CurrentFinancialInstruments 2024-10-31 03623882 ns5:ShareCapital 2025-10-31 03623882 ns5:ShareCapital 2024-10-31 03623882 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-10-31 03623882 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-10-31 03623882 1 2024-11-01 2025-10-31 03623882 1 2024-11-01 2025-10-31 03623882 1 2023-11-01 2024-10-31 03623882 ns5:CostValuation 2024-10-31 03623882 ns5:Subsidiary1 2024-11-01 2025-10-31 03623882 1 ns5:Subsidiary1 2024-11-01 2025-10-31 03623882 ns5:Subsidiary2 2024-11-01 2025-10-31 03623882 ns5:Subsidiary2 3 2024-11-01 2025-10-31 03623882 ns5:Subsidiary3 2024-11-01 2025-10-31 03623882 5 ns5:Subsidiary3 2024-11-01 2025-10-31 03623882 ns5:Subsidiary4 2024-11-01 2025-10-31 03623882 ns5:Subsidiary4 7 2024-11-01 2025-10-31 03623882 ns5:Subsidiary5 2024-11-01 2025-10-31 03623882 9 ns5:Subsidiary5 2024-11-01 2025-10-31 03623882 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-10-31 03623882 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-10-31 03623882 ns5:DeferredTaxation 2024-10-31 03623882 ns5:DeferredTaxation 2024-11-01 2025-10-31 03623882 ns5:DeferredTaxation 2025-10-31 03623882 ns10:OrdinaryShareClass1 2025-10-31 03623882 ns10:Director1 1 2024-10-31 03623882 ns10:Director1 1 2023-10-31 03623882 ns10:Director1 1 2024-11-01 2025-10-31 03623882 ns10:Director1 1 2023-11-01 2024-10-31 03623882 ns10:Director1 1 2025-10-31 03623882 ns10:Director1 1 2024-10-31

REGISTERED NUMBER: 03623882 (England and Wales)

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

R A SHIELD HOLDINGS LIMITED

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 October 2025

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 3 |

| Statement of Income and Retained Earnings | 5 |

| Balance Sheet | 6 |

| Notes to the Financial Statements | 7 |

| R A SHIELD HOLDINGS LIMITED |

COMPANY INFORMATION

for the year ended 31 October 2025

| DIRECTORS: | J Cooper

| C R F Shield

| REGISTERED OFFICE: | 365 Fosse Way

| Syston

| Leicestershire

| LE7 1NL

| REGISTERED NUMBER: | 03623882 (England and Wales)

| AUDITORS: | Magma Audit LLP (part of the Dains Group)

| Chartered Accountants

| Statutory Auditor

| Unit 2, Charnwood Edge Business Park

| Syston Road

| Leicestershire

| LE7 4UZ

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

REPORT OF THE DIRECTORS

for the year ended 31 October 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of investment property management.

DIVIDENDS

The total distribution of dividends for the year ended 31 October 2025 will be £Nil (2024: £Nil).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

J Cooper

C R F Shield

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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.

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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Magma Audit LLP (part of the Dains Group), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C R F Shield - Director

14 July 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

R A SHIELD HOLDINGS LIMITED

Opinion

We have audited the financial statements of R A Shield Holdings Limited (the 'company') for the year ended 31 October 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 October 2025 and of its loss 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

R A SHIELD HOLDINGS LIMITED

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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.

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:

Based on our understanding of the group and the industry, we have identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation and breaches with the General Data Protection Regulation, and we have considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and health and safety regulations. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries, and management bias in accounting estimates. Audit procedures performed included:

- |  | Enquiries with management for consideration of known or suspected instances of non-compliance with laws and regulations and fraud; |

- |  | Challenging assumptions made by management in their accounting estimates, in particular in relation to investment property valuations; and |

- |  | Identifying and testing material journal entries, in particular those journal entries posted with unusual account combinations, journal entries crediting revenue, journal entries crediting cash and journal entries with specific defined descriptions. |

There are inherent limitations in the audit procedures described above. The more 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. Also, 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 forgery or intentional misrepresentation, for example, or through 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.

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.

Luke Turner FCA FCCA (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP (part of the Dains Group)

Chartered Accountants

Statutory Auditor

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

14 July 2026

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

STATEMENT OF INCOME AND

RETAINED EARNINGS

for the year ended 31 October 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 69,818 |  | 65,503 |  |

Administrative expenses | (49,918 | ) | (150,332 | ) |

OPERATING PROFIT/(LOSS) | 5 | 19,900 |  | (84,829 | ) |

Interest payable and similar expenses | 6 | (800 | ) | - |  |

PROFIT/(LOSS) BEFORE TAXATION | 19,100 |  | (84,829 | ) |

Tax on profit/(loss) | 7 | (43,231 | ) | (40,353 | ) |

LOSS FOR THE FINANCIAL YEAR | (24,131 | ) | (125,182 | ) |

Retained earnings at beginning of year | 4,767,018 |  | 4,892,200 |  |

RETAINED EARNINGS AT END OF YEAR | 4,742,887 |  | 4,767,018 |  |

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

BALANCE SHEET

31 October 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Investments | 8 | 6,024 |  | 6,024 |  |

Investment property | 9 | 3,919,485 |  | 3,919,485 |  |

3,925,509 |  | 3,925,509 |  |

CURRENT ASSETS

Debtors | 10 | 2,072,368 |  | 2,071,955 |  |

Cash at bank and in hand | 16,723 |  | 57,972 |  |

2,089,091 |  | 2,129,927 |  |

CREDITORS

Amounts falling due within one year | 11 | (887,574 | ) | (913,079 | ) |

NET CURRENT ASSETS | 1,201,517 |  | 1,216,848 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,127,026 |  | 5,142,357 |  |

PROVISIONS FOR LIABILITIES | 12 | (80,700 | ) | (71,900 | ) |

NET ASSETS | 5,046,326 |  | 5,070,457 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 33,000 |  | 33,000 |  |

Fair value reserves | 14 | 270,439 |  | 270,439 |  |

Retained earnings | 14 | 4,742,887 |  | 4,767,018 |  |

SHAREHOLDERS' FUNDS | 5,046,326 |  | 5,070,457 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2026 and were signed on its behalf by:

C R F Shield - Director

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 October 2025

1. | STATUTORY INFORMATION

| R A Shield Holdings Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is 365 Fosse Way, Syston, Leicestershire, LE7 1NL and the registered number is 03623882.

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 as modified by the revaluation of certain assets.

| The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

| The company has not prepared consolidated financial statements on account of the fact that consolidated financial statements have been prepared by Shield Engineering Group Holdings Limited, the ultimate parent company.

| Going concern

| The directors believe that it is appropriate to adopt the going concern basis in the preparation of the financial statements. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

| 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 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.

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

| Turnover relates to rental income from investment properties and is recognised on a straight line basis over the period of the lease. Where lease incentives are given they are recognised over the lease term on a straight line basis.

| Investments in subsidiaries

| Investment in the subsidiaries are measured at cost less accumulated impairment.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

| Financial instruments

| The company 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 company's balance sheet when the company 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.

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 October 2025

2. | ACCOUNTING POLICIES - continued

| (i) 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.

| (ii) Financial liabilities

| Basic financial liabilities, including creditors and bank loans 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 receipts 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. Amounts 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.

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

| Taxation

| The tax expense for the year comprises current and deferred tax.

| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Finance costs

| Finance costs are charged to the Profit and Loss Account 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.

3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| In the application of the company's accounting policies, the directors 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.

| Key sources of estimation uncertainty

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 October 2025

| Revaluation of investment property

| The company carries its investment property at fair value as set out in note 2 above. The directors obtain independent advice from a firm of Chartered Surveyors and estimate fair value using this information together with market data, the nature and location of specific properties and terms of tenancies.

4. | EMPLOYEES AND DIRECTORS

|  | 2025 |  |  | 2024 |  |

| Directors |  | 2 |  | 2 |  |

|  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |

| Directors' remuneration |  | - |  | - |  |

5. | OPERATING PROFIT/(LOSS)

| The operating profit (2024 - operating loss) is stated after charging:

| 2025 |  | 2024

£ | £ |

| Auditors' remuneration | 6,850 |  | 6,650 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Other interest | 800 |  | - |  |

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 25,354 |  | 27,453 |  |

| Adjustment to prior years | 9,077 |  | - |  |

| Total current tax | 34,431 |  | 27,453 |  |

| Deferred tax | 8,800 |  | 12,900 |  |

| Tax on profit/(loss) | 43,231 |  | 40,353 |  |

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 October 2025

7. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit/(loss) before tax | 19,100 |  | (84,829 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 4,775 |  | (21,207 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 29,274 |  | 61,505 |  |

| Capital allowances in excess of depreciation | (8,695 | ) | (12,845 | ) |

| Adjustments to tax charge in respect of previous periods | 9,077 |  | - |  |

| Deferred tax change in rate | 8,800 |  | 12,900 |  |

| Total tax charge | 43,231 |  | 40,353 |  |

8. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 6,024 |  |

| NET BOOK VALUE

| At 31 October 2025 | 6,024 |  |

| At 31 October 2024 | 6,024 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Shield Engineering (Syston) Limited

| Registered office: 365 Fosse Way, Syston, Leicestershire, LE7 1NL

| Nature of business: Sub-contract precision engineers

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Shield-Lodge Engineering Limited

| Registered office: 365 Fosse Way, Syston, Leicestershire, LE7 1NL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Manton Engineering Company Limited

| Registered office: 365 Fosse Way, Syston, Leicestershire, LE7 1NL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 October 2025

8. | FIXED ASSET INVESTMENTS - continued

| BCC Foundry Limited

| Registered office: 365 Fosse Way, Syston, Leicestershire, LE7 1NL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Atkins Bros. (Syston) Limited

| Registered office: 365 Fosse Way, Syston, Leicestershire, LE7 1NL

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

9. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2024

| and 31 October 2025 | 3,919,485 |  |

| NET BOOK VALUE

| At 31 October 2025 | 3,919,485 |  |

| At 31 October 2024 | 3,919,485 |  |

| The investment property is stated at directors' valuation, on the basis of open market value at 31 October 2024. The valuation is guided by independent advice from a firm of chartered surveyors in previous years.

| Fair value at 31 October 2025 is represented by:

£ |

| Valuation in 2021 | 270,439 |  |

| Cost | 3,649,046 |  |

3,919,485 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 20,170 |  | 6,482 |  |

| Amounts owed by group undertakings | - |  | 5,000 |  |

| Amounts owed by related parties | 2,052,198 |  | 2,057,706 |  |

| VAT | - |  | 2,767 |  |

2,072,368 |  | 2,071,955 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | - |  | 5,811 |  |

| Amounts owed to group undertakings | 1,456 |  | - |  |

| Corporation tax | 25,354 |  | 59,640 |  |

| VAT | 701 |  | - |  |

| Other creditors | 842,030 |  | 837,863 |  |

| Accruals and deferred income | 18,033 |  | 9,765 |  |

887,574 |  | 913,079 |  |

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 October 2025

12. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 80,700 |  | 71,900 |  |

| Deferred |

| tax |

£ |

| Balance at 1 November 2024 | 71,900 |  |

| Charge to Statement of Comprehensive Income during year | 8,800 |  |

| Balance at 31 October 2025 | 80,700 |  |

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 33,000 | Ordinary | £1.00 | 33,000 |  | 33,000 |  |

| The company's ordinary shares carry full rights with respect to voting, dividends and distributions.

14. | RESERVES

| Retained earnings

| This includes all current and prior period retained profits and losses.

| Fair value reserve

| The fair value reserve arose on the revaluation of the investment property.

15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 October 2025 and 31 October 2024:

2025 | 2024 |

£ | £ |

| C R F Shield

| Balance outstanding at start of year | - |  | 2,040 |  |

| Amounts repaid | - |  | (2,040 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

16. | RELATED PARTY TRANSACTIONS

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 33 '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.

| R A Shield Holdings Limited is related to the below companies in the period by virtue of being ultimately controlled by Mr C R F Shield.

| Amounts owed by related parties

| At the year end the company was owed £2,052,198 (2024 - £2,057,706) by entities under the control of Mr C R F Shield.

| There are no key management personnel other than the directors.

R A SHIELD HOLDINGS LIMITED (REGISTERED NUMBER: 03623882) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 October 2025

17. | CONTROLLING PARTY

| The directors consider that the parent undertaking of this company is C R Shield Holdings Limited, a company registered in England and Wales.The registered office is First Floor, One Colton Square, Leicester, LE1 1QH.

| The parent company preparing consolidated accounts for the smallest group of which the company is a member is Shield Engineering Group Holdings Limited. Mr C R F Shield is the ultimate controlling party of this group.