REGISTERED NUMBER: 06000337 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

FOR

TGW LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

7

Report of the Independent Auditors

9

Income Statement

13

Other Comprehensive Income

14

Balance Sheet

15

Statement of Changes in Equity

16

Cash Flow Statement

17

Notes to the Cash Flow Statement

18

Notes to the Financial Statements

19

DIRECTORS:

Mr N Goudie

Mr D A Hibbett

Mr S K Franklin

Mr D Crimp

Mr J Garbutt

REGISTERED OFFICE:

Falcon Court

Off Rockingham Road

Market Harborough

Leicestershire

LE16 7FY

REGISTERED NUMBER:

06000337 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Harrison BA FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

The directors present their strategic report for the year ended 30 June 2026.

TGW Limited are a leading supplier and systems integrator of highly dynamic, automated logistics solutions for warehousing, production, picking and distribution operations. The company designs, contracts, installs and services a complete range of solutions, from small conveyor applications to complex, fully automated storage & retrieval systems.

Web site address www.tgw-group.com/uk.

REVIEW OF BUSINESS

Revenues for the year ending 30 June 2026 have increased considerably during the year, as expected, as a result of increased order intake both last financial year and this year. Consequently, the company order backlog has increased further over the last year, by 88.5%, as we have seen a rise in order Intake of 150.1% compared to the previous year. The result of this means that the business again starts this new financial year in a strong position, with revenue already known for the new financial year and beyond. Much of the order book is for long term contracts and will return revenue over numerous years.

The company continues to maintain an engineering presence in its office in Kaunas, Lithuania to access system automation engineering resource in country. Further expansion over the last year has continued as other parts of the TGW group look to take advantage of the extended resource talent pool in the country to support the group's continued growth. This helps to maintain efficiency across the company's Northern Europe customer base.

PRINCIPAL RISKS AND UNCERTAINTIES

The business environment in which the company operates continues to be challenging. The company itself faces competition from other major international suppliers of automated systems, along with new technologies that are being introduced in the marketplace from smaller, niche suppliers.

Risk management forms a key part of all major business decisions, whereby the impact upon profit is assessed throughout the project and customer lifecycle, from our sales and solutions, through realisation to our lifetime service offerings. All major capital projects are assessed and categorised based upon their size, technical complexity and strategic importance to the business. Regular monthly project reporting follows a gated review process whereby risk is measured and assessed according to likeliness, following which the financial assessment is adjusted accordingly. Long term service contracts undergo a similar monthly risk assessment.

Our operations remain on a normalised level, however, we are exposed to world shock events, like the ongoing conflicts in Iran and the Middle East. The fluctuating price of oil is finding its way into our supply chain, and we will likely see inflationary pressures in the near term.

Currency fluctuation always remains a risk in the business and can have a considerable impact on both its turnover and gross margin. The majority of our project material costs are predominantly transacted in Euro's so wherever possible we aim to sign customer contracts in Euros. However, our service business and project labour and resource is GBP-denominated, so the company has entered a series of project-specific bank foreign exchange rate cash flow hedges to mitigate risk on these currency flows.

Looking ahead strategically, the company's 5-year plan analysed the potential future workload from the major customers and this has provided a good indication for the future growth and direction of the company, in line with the overall TGW Group strategy of becoming the number one project delivery company.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen events outside of our control.

SECTION 172(1) STATEMENT

The board of directors have complied with their S172 Companies Act 2006 duties during the period by initially identifying the main types of stakeholders in the business. In doing this we have considered our impact on stakeholders including our position on the environment.

One of our primary stakeholder groups is our employees. The underlying company philosophy has always been to focus upon our employees and put them first in a way that no other company has done before. We emphasise the importance of this through the company's drive towards learning and development. Learning and development is key to ensuring an engaged workforce, and support with retention; one of our key non-financial performance indicators. All employees continue to have open access to our learning platform, MINDTastic, as well as opportunities to collaborate and grow with colleagues in the wider TGW Group through the TGW Academy.

During the year, the business conducted an Employee Pulse Survey to gauge the overall satisfaction of working at TGW Limited - the results, as analysed independently, showed an overall satisfaction rating of 8.1 out of 10. When benchmarked against other company's that the research company undertook analysis for, TGW Limited was in the Top 10. Top themes arising out of the survey were the positive culture and work environment, alongside opportunities for growth both personally, professionally and as a company.

As shown on our website, we adopt a values-based corporate culture which underpins the way we treat each other; the way we work and the way we lead. The consistent implementation of our corporate culture and values is a form of securing our long term visions and future.

Company meetings at board and group level reflect the importance of this approach and consider the key stakeholder groups in all major decisions made. We encourage empowerment and a freedom from fear in our team to work with open minds whilst always having a responsible approach with utmost respect and appreciation.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

In addition to its workforce, the Company's other key stakeholders are its customers and suppliers. Suppliers are a critical link in the overall supply chain, providing a source of value, consistency of quality and service, and an opportunity for innovation. Efficiency through supply chain optimisation and bundling across projects allows TGW Limited to remain competitive in our dynamically changing market.

Engagement with customers drives alignment with their values and priorities with strategic partnerships helping to ensure business sustainability and growth. There are regular review meetings to agree progress and develop relationships which will mutually benefit both parties.

As customer relationships grow and develop into key accounts, TGW Limited engages on a broader programme and account level. Emphasis isn't just upon service and project delivery; focus upon how TGW Limited can add real value to our customer's network supply chains becomes vitally important in delivering customer satisfaction.

ENERGY AND EMISSIONS REPORT

TGW Limited is absolutely committed to reducing its impact on the environment from operations and in 2025/26 the Environmental, Health and Safety (EHS) policies were further bolstered with an increased awareness towards both physical and mental health. Additionally, TGW Limited commits to promoting a full 'life cycle thinking approach' where we aim to consider the environment within our projects, from initial concept, right through to end of life.

TGW Limited has again managed to improve our annual score within the EcoVadis framework, rising from the 68 to 69 out of 100, retaining the Bronze award. EcoVadis is the only global provider of business sustainability ratings, with over 100,000 companies taking part across multiple industries.

We continue to operate a flexible working system for all of our employees, whereby they are able to take advantage of our Hybrid working policy. This promotes a healthier work-life balance, whilst combining the advantage of reducing commuting and the harmful effects from emissions on the environment.

Four years ago the company introduced a salary sacrifice car ownership scheme to all UK-based employees, promoting electric vehicles. At last year end there were 51 vehicles that were under contract on the scheme. Over the last year, the number of vehicles taken by employees has now risen to 72. Additionally, our cycle to work scheme continues to prove popular, promoting an environmentally friendly way of commuting to and from the office.

2026

2025

UK energy use kWh

304,053

290,513

Associated Greenhouse gas emissions

Tonnes COB equivalent

216

314

Intensity ratio

Emissions per head

0.4

0.7

UK energy use covers two offices in Market Harborough, plus a training facility, as well as personal car use by employees on company business.

Associated Greenhouse gases have been calculated using the Carbon Trust website (GHG Reporting Protocol - Corporate Standard).

FINANCIAL KEY PERFORMANCE INDICATORS

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 revenue, gross margin, net assets and order backlog.

Order intake, year on year, has increased by £252,094,387 (150.1%) to £420,000,992 with the booking of two significant repeat orders with existing customers.

Year on year, the order backlog continues to grow and has risen by a further 88.5% this year from £191,589,900 to £361,071,265, creating a firm and stable foundation for revenue generation into next year. This significant rise is borne out of the large step change in order Intake.

Revenue has increased year on year by 73.1% to £248,810,591 (2025: £143,709,377). Gross Margin, as a percentage of sales, has held steady at 9.4% (2025: 10.6%.) This is representative of the competitive operating environment, and risk mitigation for ongoing projects. Earnings before tax, as a percentage of sales, has marginally decreased from 4.3% to 4.0%.

The profit for the year before taxation was £9,847,795 (2025: £6,187,922).

The company's balance sheet position as at the year-end has strengthened by 40.28% compared to the previous year. The net assets at the year-end increased to £24,700,540 (2025: £17,608,301).

There wasn't a dividend payment made to the parent company in the year (2025: £1,125,000).

KPI

2026

2025

£

£

Order intake

420,001

167,907

Revenue

248,811

143,709

Gross profit

23,283

15,228

Gross profit % of sales

9.4%

10.6%

EBT

9,848

6,190

EBT % of sales

4.0%

4.3%

Net assets

24,700

17,608

Order backlog

361,071

191,590

NON FINANCIAL KEY PERFORMANCE INDICATORS

The company considers that the retention of staff is an excellent KPI and is pleased with how this reflects one of its core values. During the current period our retention of staff improved to 93.7% (2025: 92.1%).

FUTURE ACTIVITIES

The company will continue to invest in its market and sales activities to broaden the customer base and develop global customer accounts.

ON BEHALF OF THE BOARD:

Mr S K Franklin - Director

21 July 2026

The directors present their report with the financial statements of the company for the year ended 30 June 2026.

DIVIDENDS

The total distribution of dividends for the year to 30 June 2026 will be £Nil (2025: £1,125,000)

DIRECTORS

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

Mr N Goudie

Mr D A Hibbett

Mr S K Franklin

Mr D Crimp

Mr J Garbutt

INDEMNITY INSURANCE

The company has an Indemnity Insurance policy in place for all of the directors.

OVERSEAS BRANCHES

The company has branches in Belgium, Netherlands and Lithuania.

DISABLED EMPLOYEES

The company gives full consideration to applications for employment from disabled persons where the candidate's

particular aptitudes and abilities are consistent with the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion.

Where existing employees become disabled, it is the company's policy to provide continuing employment wherever

practicable in the same or an alternative position and to provide appropriate training to achieve this aim.

EMPLOYEE INVOLVEMENT

The company operates a framework for employee information and consultation which complies with the requirements of the Information and Consultation of Employees Regulations 2004.

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;

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

-	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, Mark J Rees LLP Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S K Franklin - Director

21 July 2026

Opinion

We have audited the financial statements of TGW Limited (the 'company') for the year ended 30 June 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 30 June 2026 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.

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 pages seven and eight, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISA's (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and industry in which it operates through our general commercial experience. We determined that the following laws and regulations were most significant: FRS 102, Companies Act 2006 and the relevant tax compliance regulations in the UK. In addition, we concluded that there are certain laws and regulations that may have an effect in the determination of the amounts and disclosures in the financial statements such as health and safety and employee related matters.

We enquired of management concerning the company's policies and procedures relating to:

- the identification and compliance with laws and regulations

- the detection and response to the risks of fraud

- the internal controls inherent within the company to mitigate fraud risk and non-compliance to laws and regulations.

We enquired of management, whether they were aware of any instance of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud.

We communicated relevant laws and regulations and potential areas of fraud to all audit team members including the potential for fraud in revenue recognition through the manipulation of costs incurred on contracts. We remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We have determined that the principal risk areas where material irregularities could occur were related to posting manual journal entries to manipulate financial performance, revenue recognition, valuation of amounts recoverable on contracts and significant one-off or unusual transactions.

Our audit procedures were designed to respond in particular to these identified risks (including non-compliance with laws and regulations and fraud).

Our audit procedures included but were not limited to:

- A review of a sample of contracts to ensure the carrying value at year end is appropriate and to identify any onerous contracts. On open contracts as at year end, a review of cut-off to ensure costs and income are correctly recognised in accordance with appropriate accounting standards.

- A review of laws and regulations the company is subject to, followed by compliance checks and discussion with management to ensure no instances of non-compliance.

- Identifying and testing journal entries, on a sample basis, to review for potential management bias or manipulation of revenue recognition.

We did not identify any matters during the course of our work that indicated non-compliance with laws and regulations or relating to fraud.

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.

Mark Harrison BA FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

22 July 2026

TURNOVER

4

248,810,591

143,709,377

Cost of sales

225,527,553

128,481,165

GROSS PROFIT

23,283,038

15,228,212

Administrative expenses

14,005,595

9,930,812

OPERATING PROFIT

6

9,277,443

5,297,400

Interest receivable and similar income

571,150

892,815

9,848,593

6,190,215

Interest payable and similar expenses

7

798

2,293

PROFIT BEFORE TAXATION

9,847,795

6,187,922

Tax on profit

8

3,123,624

1,955,841

PROFIT FOR THE FINANCIAL YEAR

6,724,171

4,232,081

PROFIT FOR THE YEAR

6,724,171

4,232,081

OTHER COMPREHENSIVE INCOME

Movement in cash flow hedge

577,424

(32,038

)

Income tax relating to other comprehensive income

(144,356

)

6,408

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

433,068

(25,630

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

7,157,239

4,206,451

FIXED ASSETS

Intangible assets

10

1,307

2,745

Tangible assets

11

4,669,384

3,533,944

4,670,691

3,536,689

CURRENT ASSETS

Debtors

12

66,723,220

64,488,453

Cash at bank and in hand

15,387,724

11,735,899

82,110,944

76,224,352

CREDITORS

Amounts falling due within one year

13

56,383,413

57,351,997

NET CURRENT ASSETS

25,727,531

18,872,355

TOTAL ASSETS LESS CURRENT LIABILITIES

30,398,222

22,409,044

CREDITORS

Amounts falling due after more than one year

14

(4,004,960

)

(4,140,034

)

PROVISIONS FOR LIABILITIES

17

(1,627,722

)

(660,709

)

NET ASSETS

24,765,540

17,608,301

CAPITAL AND RESERVES

Called up share capital

18

100,000

100,000

Share premium

19

135,000

135,000

Fair value reserve

19

144,565

(288,503

)

Retained earnings

19

24,385,975

17,661,804

SHAREHOLDERS' FUNDS

24,765,540

17,608,301

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2026 and were signed on its behalf by:

Mr S K Franklin - Director

Called up

Fair

share

Retained

Share

value

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 July 2024

100,000

14,554,723

135,000

(262,873

)

14,526,850

Changes in equity

Profit for the year

-

4,232,081

-

-

4,232,081

Other comprehensive income

-

-

-

(25,630

)

(25,630

)

Total comprehensive income

-

4,232,081

-

(25,630

)

4,206,451

Dividends

-

(1,125,000

)

-

-

(1,125,000

)

Balance at 30 June 2025

100,000

17,661,804

135,000

(288,503

)

17,608,301

Changes in equity

Profit for the year

-

6,724,171

-

-

6,724,171

Other comprehensive income

-

-

-

433,068

433,068

Total comprehensive income

-

6,724,171

-

433,068

7,157,239

Balance at 30 June 2026

100,000

24,385,975

135,000

144,565

24,765,540

Cash flows from operating activities

Cash generated from operations

1

6,567,107

(6,580,733

)

Interest paid

(798

)

(2,293

)

Tax paid

(1,832,162

)

(2,051,747

)

Net cash from operating activities

4,734,147

(8,634,773

)

Cash flows from investing activities

Purchase of tangible fixed assets

(1,655,664

)

(869,289

)

Sale of tangible fixed assets

2,192

-

Interest received

571,150

892,815

Net cash from investing activities

(1,082,322

)

23,526

Cash flows from financing activities

Equity dividends paid

-

(1,125,000

)

Net cash from financing activities

-

(1,125,000

)

Increase/(decrease) in cash and cash equivalents

3,651,825

(9,736,247

)

Cash and cash equivalents at beginning of year

2

11,735,899

21,472,146

Cash and cash equivalents at end of year

2

15,387,724

11,735,899

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2026

2025

£

£

Profit before taxation

9,847,795

6,187,922

Depreciation charges

508,386

381,790

Loss on disposal of fixed assets

11,086

3,628

Finance costs

798

2,293

Finance income

(571,150

)

(892,815

)

9,796,915

5,682,818

Increase in trade and other debtors

(3,009,713

)

(12,195,132

)

Decrease in trade and other creditors

(220,095

)

(68,419

)

Cash generated from operations

6,567,107

(6,580,733

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2026

30.6.26

1.7.25

£

£

Cash and cash equivalents

15,387,724

11,735,899

Year ended 30 June 2025

30.6.25

1.7.24

£

£

Cash and cash equivalents

11,735,899

21,472,146

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.25

Cash flow

At 30.6.26

£

£

£

Net cash

Cash at bank and in hand

11,735,899

3,651,825

15,387,724

11,735,899

3,651,825

15,387,724

Total

11,735,899

3,651,825

15,387,724

1.	COMPANY INFORMATION

The principal activity of TGW Limited is the installation and maintenance of automated warehousing systems.

The company is a private limited company (registered number 06000337), limited by shares, registerd in England and wales, incorporated and domiciled in the UK. The address of the registered office is Falcon Court, Market Harborough, Leicestershire, LE16 7FQ.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£).

Related party exemption

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

Significant judgements and estimates

There were no areas in which the preparation of the financial statements required management to make significant judgements or estimates aside from those dealt with separately below.

Turnover

Turnover comprises the fair value for the sale and installation of automated warehousing systems and the maintenance of the completed systems, excluding value added tax and represents net invoice value less rebates, returns and settlement discounts adjusted in accordance with the policy on long term contracts if applicable. The long-term contracts policy is relevant for the sale and installation of the automated warehouse systems.

Turnover on uncompleted long-term contracts is determined on the basis of the stage of completion of each contract and this is calculated by multiplying the total of the costs incurred to date as a proportion of total costs anticipated by the estimated profit percentage for that contract.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost of buildings

Short leasehold

-

equal instalments over the lease period

Fixtures and fittings

-

25% on cost, 20% on cost and 10% on cost

Motor vehicles

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.