ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Registered number: 10145046

BETAQUIP HOLDINGS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

BETAQUIP HOLDINGS LIMITED

COMPANY INFORMATION

Directors	Mr B Douglass
	Mr C Douglass
	Mrs C Douglass
	Mr M Douglass
	Mr C C Shedden
	Mrs L M Shedden


Registered number	10145046


Registered office	Great Slade
	Buckingham Industrial Estate
	Buckingham
	Buckinghamshire
	MK18 1PA


Independent auditors	WR Partners
	Chartered Accountants & Statutory Auditors
	Belmont House
	Shrewsbury Business Park
	Shrewsbury
	Shropshire
	SY2 6LG

BETAQUIP HOLDINGS LIMITED

CONTENTS

	Page
Group strategic report	1 - 2
Directors' report	3 - 4
Independent auditors' report	5 - 8
Consolidated statement of comprehensive income	9
Consolidated balance sheet	10 - 11
Company balance sheet	12
Consolidated statement of changes in equity	13
Company statement of changes in equity	14
Consolidated statement of cash flows	15 - 16
Notes to the financial statements	17 - 42

BETAQUIP HOLDINGS LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

Introduction

The Directors present their Strategic Report for the year to 31 December 2025.

Business review

The Group operates in the workwear and PPE market, supplying goods to customers working in hazardous environments. Customers are predominantly in the UK and EU, whilst key suppliers are from all over the world. Customers rely on the knowledge and experience of the Group to ensure that they are provided with the correct goods for their environment. The Group works with customers and suppliers to ensure it continues to provide value to customers. The business is focused on revenue growth and profitability as part of a four-year plan, which performance is monitored against.

As a family-owned group, the Group has strong values which are reflected in the Group’s values of Care, Execution and Ownership.

Principal risks and uncertainties

The Group's risk management framework is designed to support informed decision-making and to ensure risks are managed appropriately. The key risks and uncertainties most relevant to the business in the year are identified are outlined below:

Market Risk: The Group is exposed to fluctuations in market conditions, including changes in demand for its products and services, competitive pressures, and shifts in regulation.

Supply Chain and Raw Materials: The Group is reliant on the timely delivery of raw materials and goods from suppliers. Disruptions in the supply chain, including shortages, transportation delays, or price volatility, could have an adverse impact on the Group’s ability to meet the needs of customers. The Group continues to manage its relationships with suppliers closely and explores alternative sources to minimise potential disruption.

Cybersecurity and Data Protection: The increasing reliance on digital infrastructure and the handling of sensitive data exposes the Group to cybersecurity threats, including data breaches, malware, and hacking attempts. A significant security breach could result in business disruption, financial loss, or reputational damage. The Group invests in robust IT security measures and conducts regular risk assessments to protect its systems and data.

Financial key performance indicators

The Group achieved similar revenue to year ended 31 December 2024, showing a reduction compared to the previous year. This reflects the market challenges with few large orders from customers investing in kit-outs and large capital purchases. The gross profit margin achieved in the year of 30.9% is an increase compared to 2024 of 28.0%. This reflects improvements in operational efficiency, and improved sourcing strategies. Despite the reduced revenue, Administrative Expenses increased by 15.8%. Significant increases were in Marketing and Product Development reflecting the company’s continued commitment to growth. There are also a number of expenses related to the acquisition of Wise Safety Ltd included in the year.

The net assets of the Group at year end shows an increase in accordance with the net profit achieved in the year. However, working capital has also increased in the year resulting isn a reduced cash balance. The acquisition of Wise Safety Ltd in the year (completed on 29/8/25) is also reflected in the year end balance sheet, with all assets in Hazchem Safety Ltd. Trading was also combined into Hazchem Safety Ltd from 20/10/25.

The Group’s Net Profit Margin before Tax of 2.9% is a decrease from 7.4% from 2024.

The Group’s current ratio of 2.4 at the year-end is an increase compared to the previous year end.

Page 1

BETAQUIP HOLDINGS LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Other key performance indicators

The Group has non-financial KPIs to ensure the company meets its responsibilities to the planet and its people.

The Group exceeded its employee net promoter score in the year. Customer net promoter score is also monitored to ensure a quality service is provided. Health and safety performance is a primary non-financial indicator, with many controls in place to reduce the risk of serious incidents.

The Group monitors its environmental impact in line with the ISO 14001 standard, with KPIs on wastage and energy consumption.

This report was approved by the board and signed on its behalf.

Mr B Douglass

Director

Date: 30 June 2026

Page 2

BETAQUIP HOLDINGS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

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

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £376,688 (2024 - £572,556).

During the year the Company paid dividends totalling £83,538 (2024: £757,096).

Directors

The directors who served during the year were:

Mr B Douglass

Mr C Douglass

Mrs C Douglass

Mr M Douglass

Mr C C Shedden

Mrs L M Shedden

Page 3

BETAQUIP HOLDINGS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

Mr B Douglass

Director

Date: 30 June 2026

Page 4

BETAQUIP HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BETAQUIP HOLDINGS LIMITED

Opinion

We have audited the financial statements of Betaquip Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 Group's and of the Parent Company's affairs as at 31 December 2025 and of the Group's 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the Parent 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.

Page 5

BETAQUIP HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BETAQUIP HOLDINGS LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

Opinion 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 Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group strategic report and the Directors' report 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 Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.

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 by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the Parent Company 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.

Page 6

BETAQUIP HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BETAQUIP HOLDINGS LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 3, 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 Group's and the Parent 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 Group or the Parent 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 an Auditors' 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 Group financial statements.

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

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and the Group and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR).

We understood how the Company and the Group are complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.

We assessed the susceptibility of the Company and Group's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' report.

Page 7

BETAQUIP HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BETAQUIP HOLDINGS LIMITED (CONTINUED)

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 Auditors' 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.

Alex Riley FCCA (Senior statutory auditor)

for and on behalf of

WR Partners

Chartered Accountants

Statutory Auditors

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

Date: 1 July 2026

Page 8

BETAQUIP HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£	£


Turnover	4	12,897,644	14,200,894
Cost of sales		(8,914,997)	(10,231,763)
Gross profit		3,982,647	3,969,131
Administrative expenses		(3,552,281)	(3,067,986)
Other operating income	5	95,332	184,023
Operating profit	6	525,698	1,085,168
Interest receivable and similar income	10	10,855	6,367
Interest payable and similar expenses	11	(20,024)	(36,471)
Profit before taxation		516,529	1,055,064
Tax on profit	12	(139,841)	(482,508)
Profit for the financial year		376,688	572,556

Profit for the year attributable to:
Owners of the parent Company	376,688	572,556
	376,688	572,556

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

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 17 to 42 form part of these financial statements.

Page 9

BETAQUIP HOLDINGS LIMITED

REGISTERED NUMBER: 10145046

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	14		566,543		221,829
Tangible assets	15		393,783		978,141
			960,326		1,199,970
Current assets
Stocks	17	2,840,631		2,374,314
Debtors: amounts falling due within one year	18	2,189,884		2,197,872
Cash at bank and in hand	19	626,850		1,458,208
		5,657,365		6,030,394
Creditors: amounts falling due within one year	20	(2,320,274)		(3,117,076)
Net current assets			3,337,091		2,913,318
Total assets less current liabilities			4,297,417		4,113,288
Creditors: amounts falling due after more than one year	21		(241,719)		(298,587)
Provisions for liabilities
Deferred taxation	24	(28,056)		(80,209)
			(28,056)		(80,209)
Net assets			4,027,642		3,734,492

Page 10

BETAQUIP HOLDINGS LIMITED

REGISTERED NUMBER: 10145046

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Capital and reserves
Called up share capital	25	397,769	397,769
Profit and loss account	26	3,629,873	3,336,723
		4,027,642	3,734,492

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr B Douglass

Director

Date: 30 June 2026

The notes on pages 17 to 42 form part of these financial statements.

Page 11

BETAQUIP HOLDINGS LIMITED

REGISTERED NUMBER: 10145046

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	15		-		565,000
Investments	16		100		100
			100		565,100
Current assets
Debtors: amounts falling due within one year	18	335,639		512,622
Cash at bank and in hand	19	355,734		398,865
		691,373		911,487
Creditors: amounts falling due within one year	20	(165,027)		(603,322)
Net current assets			526,346		308,165
Total assets less current liabilities			526,446		873,265

Creditors: amounts falling due after more than one year	21		-		(231,425)

Net assets			526,446		641,840

Capital and reserves
Called up share capital	25		397,769		397,769
Profit and loss account brought forward		244,071		167,741
Loss/(profit) for the year		(31,856)		833,426
Other changes in the profit and loss account		(83,538)		(757,096)
Profit and loss account carried forward			128,677		244,071
			526,446		641,840

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr B Douglass

Director

Date: 30 June 2026

The notes on pages 17 to 42 form part of these financial statements.

Page 12

BETAQUIP HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	397,769	3,521,263	3,919,032
Comprehensive income for the year
Profit for the year	-	572,556	572,556
Contributions by and distributions to owners
Dividends: Equity capital	-	(757,096)	(757,096)

At 1 January 2025	397,769	3,336,723	3,734,492
Comprehensive income for the year
Profit for the year	-	376,688	376,688
Contributions by and distributions to owners
Dividends: Equity capital	-	(83,538)	(83,538)
At 31 December 2025	397,769	3,629,873	4,027,642

The notes on pages 17 to 42 form part of these financial statements.

Page 13

BETAQUIP HOLDINGS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	397,769	167,741	565,510
Comprehensive income for the year
Profit for the year	-	833,426	833,426
Contributions by and distributions to owners
Dividends: Equity capital	-	(757,096)	(757,096)

At 1 January 2025	397,769	244,071	641,840
Comprehensive income for the year
Loss for the year	-	(31,856)	(31,856)
Contributions by and distributions to owners
Dividends: Equity capital	-	(83,538)	(83,538)
At 31 December 2025	397,769	128,677	526,446

The notes on pages 17 to 42 form part of these financial statements.

Page 14

BETAQUIP HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	376,688	572,556
Adjustments for:
Amortisation of intangible assets	69,256	55,458
Depreciation of tangible assets	115,644	139,690
Impairments of fixed assets	-	43,656
Loss on disposal of tangible assets	(1,574)	(141,110)
Interest paid	31,300	36,471
Interest received	(10,855)	(6,367)
Taxation charge	159,431	482,506
(Increase)/decrease in stocks	(466,317)	347,782
Decrease in debtors	8,044	46,791
(Decrease)/increase in creditors	(328,922)	354,864
Corporation tax (paid)	(483,984)	(44,072)
Net cash outflow on acquisition of subsidiaries	(118,306)	-
Net cash generated from operating activities	(649,595)	1,888,225

Cash flows from investing activities
Purchase of intangible fixed assets	(413,970)	-
Purchase of tangible fixed assets	(65,064)	(120,159)
Sale of tangible fixed assets	653,604	615,416
Interest received	10,855	6,367
HP interest paid	(24,089)	(12,834)
Net cash from investing activities	161,336	488,790

Page 15

BETAQUIP HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

		2025	2024
		£	£


Cash flows from financing activities
Repayment of loans	(245,488)	(109,629)
Repayment of/new finance leases	(11,042)	(19,502)
Shares treated as debt - issued	-	(120,000)
Dividends paid	(83,538)	(757,096)
Interest paid	(7,211)	(23,637)
Net cash used in financing activities	(347,279)	(1,029,864)
Net (decrease)/increase in cash and cash equivalents	(835,538)	1,347,151
Cash and cash equivalents at beginning of year	1,445,539	98,388
Cash and cash equivalents at the end of year	610,001	1,445,539

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	626,850	1,458,208
Bank overdrafts	(16,849)	(12,669)
	610,001	1,445,539

The notes on pages 17 to 42 form part of these financial statements.

Page 16

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Betaquip Holdings Limited (company number 10145046) is a private company, limited by shares, incorporated in England and Wales and domiciled in the United Kingdom. Its registered office and principal place of business is Great Slade, Buckingham Industrial Estate, Buckingham, Buckinghamshire, MK18 1PA.

The principal activity of the Group is the wholesale of safety equipment.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

Going concern

The Group's forecasts and projections, taking account of reasonably possible changes in trading
performance, show that the Group should be able to operate within the level of its current facilities.

The Directors have a reasonable expectation that the Group has adequate resources to continue in
operational existence for the foreseeable future. The Group therefore continues to adopt the going
concern basis in preparing its financial statements.

Page 17

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 18

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.6

Operating leases: the Group as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss 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.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.10

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 19

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

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;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 20

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Land & buildings	-	4 year straight line
Plant & machinery	-	5 years straight line
Motor vehicles	-	25% reducing balance
Fixtures & equipment	-	5 years straight line
Computer equipment	-	5 years straight line
Other fixed assets	-	10 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.14

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.15

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 21

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.16

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.19

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.20

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 22

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.21

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance sheet when the Group 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Page 23

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.21

Financial instruments (continued)

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

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

2.22

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 24

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Group make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the Directors the estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are disclosed below:

Intangible Fixed Assets

Intangible fixed assets includes goodwill which has arisen on the acquisitions of the trade and assets of third party undertakings and is carried at cost less accumulated amortisation.

When indications of impairment are identified an impairment review is performed. No such indications have been identified which would impact the goodwill which is carried at a value of £566,543 (2024: £221,829) within these financial statements.

Deferred consideration

Included within other creditors due in under one year and due in more than one year is deferred consideration with a total balance of £378,000 relating to investments made in the year. This balance is management best estimate of expected consideration to be paid in relation to the investment based on performance conditions being met.

Turnover

The whole of the turnover is attributable to the principal activities of the Group.

All turnover arose within the United Kingdom.

5.	Other operating income
		2025	2024
		£	£

Other operating income	10,500	-
Net rents receivable	84,832	184,023
	95,332	184,023

Page 25

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Exchange differences	35,414	(1,348)
Other operating lease rentals	7,676	-
Profit on disposal of tangible assets	(1,574)	(141,110)

Fees payable to the Company's auditors for the audit of the consolidated and Parent Company's financial statements

18,050

12,650

8.	Employees
	Staff costs, including directors' remuneration, were as follows:

		Group	Group
		2025	2024
		£	£


Wages and salaries	1,868,415	1,974,601
Social security costs	233,485	214,596
Cost of defined contribution scheme	30,577	34,916
	2,132,477	2,224,113

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Employees	42	50

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL)

Page 26

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	151,307	143,959
Group contributions to defined contribution pension schemes	3,779	5,334
	155,086	149,293

During the year retirement benefits were accruing to 4 directors (2024 - 6) in respect of defined contribution pension schemes.

10.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	10,855	6,367
		10,855	6,367

11.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	7,118	23,637
Other loan interest payable	93	-
Finance leases and hire purchase contracts	12,813	12,834
	20,024	36,471

Page 27

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Corporation tax
Current tax on profits for the year	211,584	295,469
Adjustments in respect of previous periods	-	148,587
	211,584	444,056

Total current tax	211,584	444,056

Deferred tax
Origination and reversal of timing differences	(71,743)	38,452
Total deferred tax	(71,743)	38,452


	Tax on profit	139,841	482,508

Page 28

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.Taxation (continued)

Profit on ordinary activities before tax

516,529

1,055,064

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	129,132	263,766
Effects of:
Non-tax deductible amortisation of goodwill and impairment	3,460	-
Expenses not deductible for tax purposes	31,892	43,869
Capital allowances for year in excess of depreciation	(31,587)	63,173
Adjustments to tax charge in respect of prior periods	-	148,587
Other timing differences leading to an increase (decrease) in taxation	29,429	-
Non-taxable income less expenses not deductible for tax purposes, other than goodwill and impairment	(20,885)	-
Book profit on chargeable assets	(394)	(34,735)
Capital gains	-	(2,152)
Changes in provisions leading to an increase (decrease) in the tax charge	(283)	-
Small profits chargeable at lower rate of corporation tax	(923)	-
Total tax charge for the year	139,841	482,508

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

13.	Dividends
		2025	2024
		£	£

	Equity dividends paid	83,538	757,096
		83,538	757,096

Page 29

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

14.	Intangible assets
	Group

		Goodwill
		£
	Cost
	At 1 January 2025	869,949
	Additions	413,970
	At 31 December 2025	1,283,919
	Amortisation
	At 1 January 2025	648,120
	Charge for the year on owned assets	69,256
	At 31 December 2025	717,376
	Net book value
	At 31 December 2025	566,543
	At 31 December 2024	221,829

Page 30

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

15.	Tangible fixed assets
	Group

	Land & buildings	Plant & machinery	Motor vehicles	Fixtures & equipment	Other
	£	£	£	£	£
Cost or valuation
At 1 January 2025	627,176	84,131	236,003	290,340	143,672
Additions	-	10,270	48,513	6,281	-
Acquisition of subsidiary	-	58,543	44,000	15,709	-
Disposals	(608,656)	(39,107)	(66,808)	(15,709)	-
At 31 December 2025	18,520	113,837	261,708	296,621	143,672
Depreciation
At 1 January 2025	44,427	56,234	87,370	170,457	44,693
Charge for the year on owned assets	4,631	3,652	985	48,096	6,827
Charge for the year on financed assets	-	5,503	38,410	-	7,540
Disposals	(43,656)	-	(34,594)	-	-
At 31 December 2025	5,402	65,389	92,171	218,553	59,060
Net book value
At 31 December 2025	13,118	48,448	169,537	78,068	84,612
At 31 December 2024	582,749	27,897	148,633	119,883	98,979

Page 31

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

15.Tangible fixed assets (continued)

		Total
		£
	Cost or valuation
	At 1 January 2025	1,381,322
	Additions	65,064
	Acquisition of subsidiary	118,252
	Disposals	(730,280)
	At 31 December 2025	834,358
	Depreciation
	At 1 January 2025	403,181
	Charge for the year on owned assets	64,191
	Charge for the year on financed assets	51,453
	Disposals	(78,250)
	At 31 December 2025	440,575
	Net book value
	At 31 December 2025	393,783
	At 31 December 2024	978,141

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Plant and machinery	14,000	19,503
Motor vehicles	169,040	147,969
Other fixed assets	61,225	-
	244,265	167,472

Page 32

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

15.Tangible fixed assets (continued)

	Company

		Freehold property
		£
	Cost
	At 1 January 2025	608,656
	Disposals	(608,656)
	At 31 December 2025	-
	Depreciation
	At 1 January 2025	43,656
	Disposals	(43,656)
	At 31 December 2025	-
	Net book value
	At 31 December 2025	-
	At 31 December 2024	565,000

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Freehold	-	565,000
	-	565,000

Page 33

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

16.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2025	100
	At 31 December 2025	100

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

	Hazchem Safety Limited	Great Slade, Buckingham Industrial Estate, Buckingham, Buckinghamshire, MK18 1PA	Ordinary	100%
	Wise Safety Ltd	Unit 5 Speke Approach, Wheldon Road, Widnes, Cheshire, WA8 8FW	Ordinary	100%

17.	Stocks
		Group	Group
		2025	2024
		£	£

Raw materials and consumables	467,855	456,548
Finished goods and goods for resale	2,372,776	1,917,766
	2,840,631	2,374,314

Impairment losses totalling £Nil (2024 - £Nil) were recognised in profit and loss.

Page 34

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

18.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	1,929,523	1,842,864	-	-
Amounts owed by group undertakings	-	-	335,639	483,171
Other debtors	3	29,451	-	29,451
Prepayments and accrued income	260,358	325,557	-	-
	2,189,884	2,197,872	335,639	512,622

19.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	626,850	1,458,208	355,734	398,865
Less: bank overdrafts	(16,849)	(12,669)	-	-
	610,001	1,445,539	355,734	398,865

20.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank overdrafts	16,849	12,669	-	-
Bank loans	-	14,062	-	14,062
Trade creditors	1,106,076	1,290,060	-	-
Corporation tax	127,584	399,984	-	-
Other taxation and social security	400,250	467,102	-	44,073
Obligations under finance lease and hire purchase contracts	76,734	73,333	-	-
Other creditors	588,581	855,876	160,827	541,197
Accruals and deferred income	4,200	3,990	4,200	3,990
	2,320,274	3,117,076	165,027	603,322

Page 35

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

21.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	-	231,425	-	231,425
Net obligations under finance leases and hire purchase contracts	52,719	67,162	-	-
Other creditors	189,000	-	-	-
	241,719	298,587	-	231,425

Obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.

22.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Amounts falling due within one year
Bank loans	-	14,062	-	14,062
Amounts falling due 1-2 years
Bank loans	-	14,946	-	14,946
Amounts falling due 2-5 years
Bank loans	-	50,517	-	50,517
Amounts falling due after more than 5 years
Bank loans	-	165,963	-	165,963
	-	245,488	-	245,488

Page 36

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025


23.	Hire purchase and finance leases
	Minimum lease payments under hire purchase fall due as follows:
		Group	Group
		2025	2024
		£	£

Within one year	76,734	73,333
Between 1-5 years	52,719	67,162
	129,453	140,495

24.	Deferred taxation
	Group

		2025
		£

	At beginning of year	(80,209)
	Charged to profit or loss	71,743
	Arising on business combinations	(19,590)
	At end of year	(28,056)

The provision for deferred taxation is made up as follows:
	Group	Group
	2025	2024
	£	£

	Accelerated capital allowances	(28,056)	(80,209)
		(28,056)	(80,209)

Page 37

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

25.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

12 (2024 - 12) Ordinary A shares of £1.00 each	12	12
12 (2024 - 12) Ordinary B shares of £1.00 each	12	12
60 (2024 - 60) Ordinary C shares of £1.00 each	60	60
60 (2024 - 60) Ordinary D shares of £1.00 each	60	60
12 (2024 - 12) Ordinary E shares of £1.00 each	12	12
12 (2024 - 12) Ordinary F shares of £1.00 each	12	12
12 (2024 - 12) Ordinary G shares of £1.00 each	12	12
12 (2024 - 12) Ordinary H shares of £1.00 each	12	12
397,551 (2024 - 397,551) Ordinary P shares of £1.00 each	397,551	397,551
8 (2024 - 8) S shares of £1.00 each	8	8
18 (2024 - 18) W shares of £1.00 each	18	18

	397,769	397,769

26.

Reserves

Profit and loss account

The profit and loss account reserve represents the cumulative profits and losses by the Group since incorporation, less distributions.

Page 38

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

27.	Analysis of net debt

		At 1 January 2025	Cash flows	Acquisition and disposal of subsidiaries	At 31 December 2025
		£	£	£	£

Cash at bank and in hand	1,458,208	(835,051)	3,693	626,850
Bank overdrafts	(12,669)	(4,180)	-	(16,849)
Debt due after 1 year	(231,425)	231,425	-	-
Debt due within 1 year	(702,888)	560,689	-	(142,199)
Finance leases	(140,495)	11,042	-	(129,453)
	370,731	(36,075)	3,693	338,349

Page 39

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

28.	Business combinations

During the year ended 31 December 2025, Hazchem Safety Ltd, a wholly owned subsidiary of Betaquip Holdings Limited, acquired 100% of the issued ordinary share capital of Wise Safety Ltd on 29 August 2025. This acquisition has been accounted for as a business combination using the purchase method.

	Acquisition of Wise Safety Ltd
	Recognised amounts of identifiable assets acquired and liabilities assumed
					Fair value
					£

	Fixed Assets
	Tangible	86,365
		86,365
	Current Assets
	Stocks	85,468
	Debtors	298,120
	Cash at bank and in hand	120,461
	Total Assets	590,414
	Creditors
	Due within one year	(403,117)
	Total Identifiable net assets	187,297


	Goodwill	413,970
	Total purchase consideration	601,267

	Consideration
					£


	Cash	223,267
	Contingent consideration	378,000
	Total purchase consideration	601,267

Page 40

BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

28.Business combinations (continued)


					£


	Purchase consideration settled in cash, as above	(223,267)
	Directly attributable costs	(15,500)
		(238,767)
	Less: Cash and cash equivalents acquired	120,461
	Net cash outflow on acquisition	(118,306)

29.	Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £30,175 (2024: £30,737). Contributions totalling £6,499 (2024: £7,629) were payable to the fund at the balance sheet date and are included in creditors.

30.	Commitments under operating leases
	At 31 December 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2025	2024
		£	£

Not later than 1 year	275,279	291,372
Later than 1 year and not later than 5 years	1,114,498	1,146,205
Later than 5 years	324,000	540,000
	1,713,777	1,977,577

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BETAQUIP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

31.

Related party transactions

The Company has taken advantage of the exemptions contained in FRS102 and has not disclosed transactions entered into with group companies which are wholly owned.

Included within other creditors is £135,700 (2024: £681,196), being amounts owed to Directors. These amounts are repayable on demand and accrue interest at market rate.

Included within other creditors is £25,125 (2024: £29,451 Debtor), in relation to amounts owed to a trust under the control of the directors.

32.	Controlling party

The controlling party of the Company and Group are the Directors by virtue of their 100% shareholding in the Company.

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