REGISTERED NUMBER: 10710020 (England and Wales)

Hird Group Holdings Limited

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31st March 2026

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Statement of Comprehensive Income

7

Consolidated Balance Sheet

8

Company Balance Sheet

9

Consolidated Statement of Changes in Equity

10

Company Statement of Changes in Equity

11

Consolidated Cash Flow Statement

12

Notes to the Consolidated Cash Flow Statement

13

Notes to the Consolidated Financial Statements

14

DIRECTORS:

P R Hird

R J Blanchard

J M Wilding

REGISTERED OFFICE:

127/143 English Street

Hull

East Yorkshire

HU3 2BS

REGISTERED NUMBER:

10710020 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

The directors present their strategic report of the company and the group for the year ended 31st March 2026.

REVIEW OF BUSINESS

The company's principal activities remain the hire of niche lifting equipment, access platforms, mini cranes and glass handling equipment, along with the provision of machinery movement, installations, relocations and contract lifting services and associated training services.

Principal Risks and Uncertainties

The principal risks and uncertainties during the year were dominated by the decisions and policies made by the UK Government resulting in a reduced confidence in UK markets that has helped drive down investment. Combined with increasing inflationary costs continuing to affect all sectors operated within by the company, we would appear to be diving towards a shrinking economy. Hence, businesses have adopted a far more cautious approach in order to accommodate the increases in taxation that are a direct result of the decisions made by the current Chancellor.

The company has also faced eroded pricing structures due to the influx of under-priced Chinese products being offered to the client base at a substantially lower return than the market traditionally operates within.

The conflict in the Ukraine continues to affect the lead times for products and parts and the seemingly ad-hoc policy and tariff decisions emerging from the USA are affecting global markets on an ever-changing basis.

Despite these burdens, the company has continued to operate profitably as trading remained stable. Investments in equipment continues and this has allowed the company to maintain its footprint within all sectors. Following on from this, future ongoing investments have been planned to allow the company to further evolve in anticipation that confidence will return to the economy, placing the company in the best position to respond to demand and growth.

Key Performance Indicators

The company operates a robust KPI on a weekly and monthly basis. These include turnover and costs, profitability, utilisation and cashflow for individual assets. The systems we operate offer weekly indicators allowing the company to respond to challenges in a timely manner and effective way.

Future Development and Performance

The company expects growth to slow in reaction to the markets and proposed new government's policies in both the UK and Europe through 2026. The business has prepared well for any eventuality in 2026 and remains strong across all areas of the business.

The Director's aim is for a robust and diligent trading throughout 2026/27 with investments continuing and costs being monitored. Asset growth is expected to allow the business to be at the forefront of the latest technologies available to our industry.

ON BEHALF OF THE BOARD:

P R Hird - Director

24th July 2026

The directors present their report with the financial statements of the company and the group for the year ended 31st March 2026.

DIVIDENDS

The total distribution of dividends for the period ended 31st March 2026 will be £337,143 (2025: £273,228).

DIRECTORS

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

P R Hird

R J Blanchard

J M Wilding

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 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 and then apply them consistently;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P R Hird - Director

24th July 2026

Opinion

We have audited the financial statements of Hird Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2026 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31st March 2026 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 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 group's and 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 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 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 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.

Responsibilities of directors

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, tax legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

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

-

agreeing financial statement disclosures to underlying supporting documentation; and

-

enquiring of management as to actual and potential litigation and claims

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

Use of our report

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

Luke Taylor BSc (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

24th July 2026

TURNOVER

3

17,970,166

18,952,417

Cost of sales

8,897,443

8,892,271

GROSS PROFIT

9,072,723

10,060,146

Administrative expenses

7,598,445

7,476,327

1,474,278

2,583,819

Other operating income

50,763

-

OPERATING PROFIT

5

1,525,041

2,583,819

Interest receivable and similar income

27,659

12,212

1,552,700

2,596,031

Interest payable and similar expenses

6

580,137

286,664

PROFIT BEFORE TAXATION

972,563

2,309,367

Tax on profit

7

240,316

587,218

PROFIT FOR THE FINANCIAL YEAR

732,247

1,722,149

OTHER COMPREHENSIVE INCOME

Purchase of own shares

-

(698,113

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

(698,113

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

732,247

1,024,036

Profit attributable to:

Owners of the parent

732,247

1,722,149

Total comprehensive income attributable to:

Owners of the parent

732,247

1,024,036

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

18,309,542

19,333,718

Investments

12

-

-

18,309,542

19,333,718

CURRENT ASSETS

Stocks

13

553,741

771,573

Debtors

14

3,096,612

4,324,749

Cash at bank and in hand

2,679,825

304,313

6,330,178

5,400,635

CREDITORS

Amounts falling due within one year

15

4,659,823

5,250,797

NET CURRENT ASSETS

1,670,355

149,838

TOTAL ASSETS LESS CURRENT LIABILITIES

19,979,897

19,483,556

CREDITORS

Amounts falling due after more than one year

16

(4,313,949

)

(4,288,559

)

PROVISIONS FOR LIABILITIES

19

(2,685,087

)

(2,609,240

)

NET ASSETS

12,980,861

12,585,757

CAPITAL AND RESERVES

Called up share capital

20

92,990

92,990

Merger relief reserve

21

4,538,297

4,538,297

Capital redemption reserve

21

7,010

7,010

Retained earnings

21

8,342,564

7,947,460

SHAREHOLDERS' FUNDS

12,980,861

12,585,757

The financial statements were approved by the Board of Directors and authorised for issue on 24th July 2026 and were signed on its behalf by:

P R Hird - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

-

-

Investments

12

4,765,442

4,765,442

4,765,442

4,765,442

CURRENT ASSETS

Debtors

14

61,209

1,000

CREDITORS

Amounts falling due within one year

15

187,427

127,184

NET CURRENT LIABILITIES

(126,218

)

(126,184

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,639,224

4,639,258

CAPITAL AND RESERVES

Called up share capital

20

92,990

92,990

Merger relief reserve

21

4,538,297

4,538,297

Capital redemption reserve

21

7,010

7,010

Retained earnings

21

927

961

SHAREHOLDERS' FUNDS

4,639,224

4,639,258

Company's profit for the financial year

337,109

977,236

The financial statements were approved by the Board of Directors and authorised for issue on 24th July 2026 and were signed on its behalf by:

P R Hird - Director

Called up

Merger

Capital

share

Retained

relief

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1st April 2024

97,897

7,203,662

4,538,297

-

11,839,856

Changes in equity

Profit for the year

-

1,722,149

-

-

1,722,149

Other comprehensive income

-

(705,123

)

-

7,010

(698,113

)

Total comprehensive income

-

1,017,026

-

7,010

1,024,036

Issue of share capital

(4,907

)

-

-

-

(4,907

)

Dividends

-

(273,228

)

-

-

(273,228

)

Balance at 31st March 2025

92,990

7,947,460

4,538,297

7,010

12,585,757

Changes in equity

Profit for the year

-

732,247

-

-

732,247

Total comprehensive income

-

732,247

-

-

732,247

Dividends

-

(337,143

)

-

-

(337,143

)

Balance at 31st March 2026

92,990

8,342,564

4,538,297

7,010

12,980,861

Called up

Merger

Capital

share

Retained

relief

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1st April 2024

97,897

2,076

4,538,297

-

4,638,270

Changes in equity

Profit for the year

-

977,236

-

-

977,236

Other comprehensive income

-

(705,123

)

-

7,010

(698,113

)

Total comprehensive income

-

272,113

-

7,010

279,123

Dividends

-

(273,228

)

-

-

(273,228

)

Issue of share capital

(4,907

)

-

-

-

(4,907

)

Balance at 31st March 2025

92,990

961

4,538,297

7,010

4,639,258

Changes in equity

Profit for the year

-

337,109

-

-

337,109

Total comprehensive income

-

337,109

-

-

337,109

Dividends

-

(337,143

)

-

-

(337,143

)

Balance at 31st March 2026

92,990

927

4,538,297

7,010

4,639,224

Cash flows from operating activities

Cash generated from operations

1

4,610,600

5,099,632

Interest paid

(81

)

(68

)

Interest element of hire purchase payments paid

(580,056

)

(286,596

)

Tax paid

(376,001

)

(354,104

)

Net cash from operating activities

3,654,462

4,458,864

Cash flows from investing activities

Purchase of tangible fixed assets

(1,734,579

)

(4,999,049

)

Sale of tangible fixed assets

371,615

466,411

Interest received

27,659

12,212

Net cash from investing activities

(1,335,305

)

(4,520,426

)

Cash flows from financing activities

Net capital advances/(repayment) in year

315,659

563,544

Amount introduced by directors

90,064

-

Amount withdrawn by directors

(12,225

)

-

Share buyback

-

(703,020

)

Equity dividends paid

(337,143

)

(273,228

)

Net cash from financing activities

56,355

(412,704

)

Increase/(decrease) in cash and cash equivalents

2,375,512

(474,266

)

Cash and cash equivalents at beginning of year

2

304,313

778,579

Cash and cash equivalents at end of year

2

2,679,825

304,313

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

2026

2025

£

£

Profit before taxation

972,563

2,309,367

Depreciation charges

2,227,850

2,151,941

Loss on disposal of fixed assets

159,290

63,167

Finance costs

580,137

286,664

Finance income

(27,659

)

(12,212

)

3,912,181

4,798,927

Decrease in stocks

217,832

106,051

Decrease/(increase) in trade and other debtors

1,256,992

(172,878

)

(Decrease)/increase in trade and other creditors

(776,405

)

367,532

Cash generated from operations

4,610,600

5,099,632

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 31st March 2026

31/3/26

1/4/25

£

£

Cash and cash equivalents

2,679,825

304,313

Year ended 31st March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

304,313

778,579

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/4/25

Cash flow

At 31/3/26

£

£

£

Net cash

Cash at bank and in hand

304,313

2,375,512

2,679,825

304,313

2,375,512

2,679,825

Debt

Finance leases

(6,534,787

)

(315,659

)

(6,850,446

)

(6,534,787

)

(315,659

)

(6,850,446

)

Total

(6,230,474

)

2,059,853

(4,170,621

)

1.	STATUTORY INFORMATION

Hird Group Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standards 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Basis of consolidation

The consolidated financial statements include the financial statements of the company and its subsidiary undertakings made up to 31st March 2025. The acquisition method of accounting has been adopted. Under this method the results of subsidiary undertakings acquired or disposed of in the year are included in the consolidated profit and loss account from the date of acquisition or up to the date of disposal.

Turnover

Sale of goods

Turnover from the sale of plant and related goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from plant hire and training is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to hire periods or when the training courses take place.

Goodwill

Goodwill, being the amount paid in connection with the share for share exchange of the group companies in 2017 has been amortised in full.

Goodwill on consolidation represents the difference between the share value of the investments and the fair value of the net assets acquired.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

The rates generally applicable are:-

Long leasehold

2% on cost

Improvement to property

15% on reducing balance

Plant and machinery

10 to 15% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Hire purchase and leasing commitments

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.

TURNOVER

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

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

2026

2025

£

£

Goods

2,798,364

2,397,160

Services

15,171,802

16,555,257

17,970,166

18,952,417