IRIS Accounts Production v26.1.10.61 10116381 Board of Directors 30.11.25 1.12.24 30.11.25 30.11.25 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. The group continues to be primarily engaged in the production, specification and supply of architectural ironmonger, access control equipment washroom equipment and timber and metal door sets to residential, commercial, healthcare and hospitality market sectors of the construction industry. true true true false true true false false false false false false false false true true true false A Ordinary shares 0 Preference shares 0 B Ordinary shares 0 0 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10116381 2024-11-30 10116381 2025-11-30 10116381 2024-12-01 2025-11-30 10116381 2023-11-30 10116381 2023-12-01 2024-11-30 10116381 2024-11-30 10116381 ns15:EnglandWales 2024-12-01 2025-11-30 10116381 ns14:PoundSterling 2024-12-01 2025-11-30 10116381 ns10:Director1 2024-12-01 2025-11-30 10116381 ns10:Consolidated 2025-11-30 10116381 ns10:ConsolidatedGroupCompanyAccounts 2024-12-01 2025-11-30 10116381 ns10:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 10116381 ns10:Consolidated ns10:MediumEntities 2024-12-01 2025-11-30 10116381 ns10:Consolidated ns10:Audited 2024-12-01 2025-11-30 10116381 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-12-01 2025-11-30 10116381 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-12-01 2025-11-30 10116381 ns10:Consolidated 2024-12-01 2025-11-30 10116381 ns10:Consolidated ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-12-01 2025-11-30 10116381 ns10:Medium-sizedCompaniesRegimeForAccounts ns10:Consolidated 2024-12-01 2025-11-30 10116381 ns10:FullAccounts 2024-12-01 2025-11-30 10116381 ns5:Subsidiary1 2024-12-01 2025-11-30 10116381 ns5:Subsidiary2 2024-12-01 2025-11-30 10116381 ns5:Subsidiary3 2024-12-01 2025-11-30 10116381 ns5:Subsidiary5 2024-12-01 2025-11-30 10116381 ns5:Associate1 2024-12-01 2025-11-30 10116381 1 2024-12-01 2025-11-30 10116381 ns10:OrdinaryShareClass1 2024-12-01 2025-11-30 10116381 ns10:OrdinaryShareClass2 2024-12-01 2025-11-30 10116381 ns10:OrdinaryShareClass3 2024-12-01 2025-11-30 10116381 ns10:OrdinaryShareClass3 3 2024-12-01 2025-11-30 10116381 ns10:Director2 2024-12-01 2025-11-30 10116381 ns10:Director3 2024-12-01 2025-11-30 10116381 ns10:RegisteredOffice 2024-12-01 2025-11-30 10116381 ns10:Consolidated 2023-12-01 2024-11-30 10116381 ns5:CurrentFinancialInstruments 2025-11-30 10116381 ns5:CurrentFinancialInstruments 2024-11-30 10116381 ns5:ShareCapital 2025-11-30 10116381 ns5:ShareCapital 2024-11-30 10116381 ns5:RetainedEarningsAccumulatedLosses 2025-11-30 10116381 ns5:RetainedEarningsAccumulatedLosses 2024-11-30 10116381 ns5:ShareCapital 2023-11-30 10116381 ns5:RetainedEarningsAccumulatedLosses 2023-11-30 10116381 ns5:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 10116381 ns5:ShareCapital 2024-12-01 2025-11-30 10116381 ns5:RetainedEarningsAccumulatedLosses 2024-12-01 2025-11-30 10116381 ns5:IntangibleAssetsOtherThanGoodwill 2024-12-01 2025-11-30 10116381 ns5:OwnedOrFreeholdAssets ns5:LandBuildings 2024-12-01 2025-11-30 10116381 ns5:LeaseholdImprovements 2024-12-01 2025-11-30 10116381 ns5:PlantMachinery 2024-12-01 2025-11-30 10116381 ns5:FurnitureFittings 2024-12-01 2025-11-30 10116381 ns5:MotorVehicles 2024-12-01 2025-11-30 10116381 ns5:ComputerEquipment 2024-12-01 2025-11-30 10116381 ns5:CostValuation 2024-11-30 10116381 1 ns5:Subsidiary1 2024-12-01 2025-11-30 10116381 ns5:Subsidiary2 3 2024-12-01 2025-11-30 10116381 5 ns5:Subsidiary3 2024-12-01 2025-11-30 10116381 9 ns5:Subsidiary5 2024-12-01 2025-11-30 10116381 ns5:Associate1 1 2024-12-01 2025-11-30 10116381 ns10:OrdinaryShareClass1 2025-11-30 10116381 ns10:OrdinaryShareClass2 2025-11-30 10116381 ns10:OrdinaryShareClass3 2025-11-30 10116381 ns5:RetainedEarningsAccumulatedLosses 2024-11-30

REGISTERED NUMBER: 10116381 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

CARTERVILLE LIMITED

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Consolidated Income Statement | 9 |

Consolidated Other Comprehensive Income | 10 |

Consolidated Balance Sheet | 11 |

Company Balance Sheet | 12 |

Consolidated Statement of Changes in Equity | 13 |

Company Statement of Changes in Equity | 14 |

Consolidated Cash Flow Statement | 15 |

Notes to the Consolidated Cash Flow Statement | 16 |

Notes to the Consolidated Financial Statements | 17 |

CARTERVILLE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 NOVEMBER 2025

| DIRECTORS: | A M Carter-Clout

| G P Shirville

| A C Higgins

| REGISTERED OFFICE: | 63/83 Brearley Street

| Birmingham

| West Midlands

| B19 3NT

| REGISTERED NUMBER: | 10116381 (England and Wales)

| AUDITORS: | Prime

| Chartered Accountants

| Statutory Auditor

| 161 Newhall Street

| Birmingham

| B3 1SW

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2025

The directors present their strategic report along with the financial statements of the company and the group for the year ended 30 November 2025.

The directors seek to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year-end. The report is consistent with the size and nature of the business.

ACTIVITIES AND STRATEGY

The business operates in both the UK and international construction markets, engaged in the design, production, specification and supply of architectural ironmongery, access control and door egress equipment, as well as washroom equipment.

The company aims to build long-term profitable growth, founded on the sale of beautifully designed, high-quality, and long-lasting products, backed by expert professional advice from well-trained staff.

BUSINESS PERFORMANCE

The results and financial position of the group are detailed in the financial statements.

Underlying demand in both the UK and our overseas markets remains strong. Sales order intake grew by 6% year-on-year, and strong project pipelines meant new business quotations grew by 19% in the UK and 11% internationally.

However, the year ending in November 2025 was marked by uncertainty in the UK, causing call-offs (and therefore deliveries) to drop. The new Labour government introduced major policy shifts (much higher public expenditure, funded by hikes in National Insurance and the National Living Wage), which diverted investment funds from the private into the public realm, dented business confidence, and contributed to higher-than-expected interest rates. The investment-led and labour-intensive construction industry therefore slowed markedly. Allgood's UK turnover declined by 26%, mitigated by 46% higher export sales. Overall sales fell by £1,557k or 18%. Further improvements to gross margin and overhead reductions helped to the tune of £470k, so that operating income reduced by a manageable £362k.

A growing pipeline of commercial construction in the UK, combined with strong demand from major development projects in the Middle East and Hong Kong, points to an improved picture towards the end of 2026. Order books are currently 45% higher than a year ago.

PRINCIPAL RISKS AND UNCERTAINTIES

Currency Risk

The group has exposure to foreign exchange risk as it buys and sells goods in euros and US dollars; however, the percentage is not material in the context of total sales and purchases.

Credit Risk

The group mitigates credit risk by insuring its debts up to 90% in value.

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2025

EVENTS SINCE THE END OF THE YEAR

The outbreak of war in February 2026 between the USA (alongside Israel) and Iran has disrupted some deliveries into the region, particularly those destined for the UAE, Qatar, Bahrain, and Kuwait. No orders have been cancelled, nor have new business discussions been suspended. The directors therefore expect no major impact other than the extension of some delivery schedules by a few months.

ON BEHALF OF THE BOARD:

A C Higgins - Director

31 July 2026

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 NOVEMBER 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 November 2025.

DIVIDENDS

Dividends paid for the year ended 30th November 2025 were £29,295 (2024: £Nil).

DIRECTORS

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

A M Carter-Clout

G P Shirville

Other changes in directors holding office are as follows:

A C Higgins was appointed as a director after 30 November 2025 but prior to the date of this report.

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), 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 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.

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 NOVEMBER 2025

AUDITORS

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

ON BEHALF OF THE BOARD:

A C Higgins - Director

31 July 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CARTERVILLE LIMITED

Opinion

We have audited the financial statements of Carterville Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025 which comprise the Consolidated Income Statement, Consolidated Other 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 30 November 2025 and of the group's loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CARTERVILLE LIMITED

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 four, 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 as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;

- we 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, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CARTERVILLE LIMITED

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 as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 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 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;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and other relevant parties.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Use of our report

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

Vivian Shadbolt BSc FCA (Senior Statutory Auditor)

for and on behalf of Prime

Chartered Accountants

Statutory Auditor

161 Newhall Street

Birmingham

B3 1SW

4 August 2026

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 7,120,453 |  | 8,676,712 |  |

Cost of sales | 3,148,890 |  | 4,015,582 |  |

GROSS PROFIT | 3,971,563 |  | 4,661,130 |  |

Distribution costs | 118,762 |  | 144,977 |  |

Administrative expenses | 4,314,223 |  | 4,615,275 |  |

|  | 4,432,985 |  |  |  | 4,760,252 |  |

(461,422 | ) | (99,122 | ) |

Other operating income | 6,000 |  | - |  |

OPERATING LOSS | 5 | (455,422 | ) | (99,122 | ) |

Income from interest in associated undertakings | 136,903 |  | 129,499 |  |

Interest receivable and similar income | 13,785 |  | 6,798 |  |

Other finance income | 19 | 253,000 |  | 40,000 |  |

|  | 403,688 |  |  |  | 176,297 |  |

(51,734 | ) | 77,175 |  |

Amounts written off investments | 6 | (9 | ) | 3 |  |

(LOSS)/PROFIT BEFORE TAXATION | (51,725 | ) | 77,172 |  |

Tax on (loss)/profit | 7 | - |  | - |  |

(LOSS)/PROFIT FOR THE FINANCIAL YEAR | (51,725 | ) | 77,172 |  |

(Loss)/profit attributable to:

Owners of the parent | (51,725 | ) | 77,172 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

CONSOLIDATED OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

(LOSS)/PROFIT FOR THE YEAR | (51,725 | ) | 77,172 |  |

OTHER COMPREHENSIVE INCOME |

Actuarial gain/(loss) on pension

liability | (1,376,019 | ) | 3,664,000 |  |

Income tax relating to other comprehensive income | 302,772 |  | (926,000 | ) |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | (1,073,247 | ) | 2,738,000 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (1,124,972 | ) | 2,815,172 |  |

Total comprehensive income attributable to:

Owners of the parent | (1,124,972 | ) | 2,815,172 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

CONSOLIDATED BALANCE SHEET

30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 121,990 |  | 225,650 |  |

Tangible assets | 11 | 1,416,095 |  | 1,461,549 |  |

Investments | 12 | 1,744,518 |  | 1,733,339 |  |

3,282,603 |  | 3,420,538 |  |

CURRENT ASSETS

Stocks | 13 | 651,845 |  | 638,184 |  |

Debtors | 14 | 1,102,112 |  | 1,465,951 |  |

Cash at bank and in hand | 1,204,198 |  | 1,961,461 |  |

2,958,155 |  | 4,065,596 |  |

CREDITORS

Amounts falling due within one year | 15 | 1,387,745 |  | 2,387,176 |  |

NET CURRENT ASSETS | 1,570,410 |  | 1,678,420 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,853,013 |  | 5,098,958 |  |

PENSION ASSET | 19 | 2,504,184 |  | 3,412,500 |  |

NET ASSETS | 7,357,197 |  | 8,511,458 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 7,002,801 |  | 7,002,795 |  |

Revaluation reserve | 18 | 529,629 |  | 540,981 |  |

Retained earnings | 18 | (175,233 | ) | 967,682 |  |

SHAREHOLDERS' FUNDS | 7,357,197 |  | 8,511,458 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2026 and were signed on its behalf by:

A C Higgins - Director

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

COMPANY BALANCE SHEET

30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | - |  | - |  |

Investments | 12 | 8,000,000 |  | 8,000,000 |  |

8,000,000 |  | 8,000,000 |  |

CURRENT ASSETS

Cash in hand | 1 |  | 3 |  |

CREDITORS

Amounts falling due within one year | 15 | 279,287 |  | 250,000 |  |

NET CURRENT LIABILITIES | (279,286 | ) | (249,997 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,720,714 |  | 7,750,003 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 7,002,801 |  | 7,002,795 |  |

Retained earnings | 18 | 717,913 |  | 747,208 |  |

SHAREHOLDERS' FUNDS | 7,720,714 |  | 7,750,003 |  |

Company's profit for the financial year | - |  | 2,465,009 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2026 and were signed on its behalf by:

A C Higgins - Director

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 NOVEMBER 2025

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 December 2023 | 7,002,795 |  | (1,839,611 | ) | 533,102 |  | 5,696,286 |  |

Total comprehensive income | - |  | 2,807,293 |  | 7,879 |  | 2,815,172 |  |

Balance at 30 November 2024 | 7,002,795 |  | 967,682 |  | 540,981 |  | 8,511,458 |  |

Issue of share capital | 6 |  | - |  | - |  | 6 |  |

Dividends | - |  | (29,295 | ) | - |  | (29,295 | ) |

Total comprehensive income | - |  | (1,113,620 | ) | (11,352 | ) | (1,124,972 | ) |

Balance at 30 November 2025 | 7,002,801 |  | (175,233 | ) | 529,629 |  | 7,357,197 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 NOVEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 December 2023 | 7,002,795 |  | (1,717,801 | ) | 5,284,994 |  |

Total comprehensive income | - |  | 2,465,009 |  | 2,465,009 |  |

Balance at 30 November 2024 | 7,002,795 |  | 747,208 |  | 7,750,003 |  |

Issue of share capital | 6 |  | - |  | 6 |  |

Dividends | - |  | (29,295 | ) | (29,295 | ) |

Balance at 30 November 2025 | 7,002,801 |  | 717,913 |  | 7,720,714 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (710,748 | ) | 694,895 |  |

Net cash from operating activities | (710,748 | ) | 694,895 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (20,596 | ) | - |  |

Purchase of tangible fixed assets | (25,121 | ) | (21,237 | ) |

Sale of tangible fixed assets | - |  | 224 |  |

Interest received | 13,785 |  | 6,798 |  |

Dividends received | 94,706 |  | 129,499 |  |

Net cash from investing activities | 62,774 |  | 115,284 |  |

Cash flows from financing activities

Amount withdrawn by directors | (80,000 | ) | - |  |

Share issue | 6 |  | - |  |

Equity dividends paid | (29,295 | ) | - |  |

Net cash from financing activities | (109,289 | ) | - |  |

(Decrease)/increase in cash and cash equivalents | (757,263 | ) | 810,179 |  |

Cash and cash equivalents at beginning of year | 2 | 1,961,461 |  | 1,151,282 |  |

Cash and cash equivalents at end of year | 2 | 1,204,198 |  | 1,961,461 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 NOVEMBER 2025

1. | RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| (Loss)/profit before taxation | (51,725 | ) | 77,172 |  |

| Depreciation charges | 194,831 |  | 193,759 |  |

| Pension admin expenses paid by scheme | 88,069 |  | - |  |

| Unrealised (gain)/loss on associates | 31,027 |  | 98,019 |  |

| Unrealised (gain)/loss on investments | (9 | ) | - |  |

| Finance income | (403,688 | ) | (176,297 | ) |

(141,495 | ) | 192,653 |  |

| (Increase)/decrease in stocks | (13,662 | ) | 363,519 |  |

| Decrease/(increase) in trade and other debtors | 363,839 |  | (320,584 | ) |

| (Decrease)/increase in trade and other creditors | (919,430 | ) | 459,307 |  |

| Cash generated from operations | (710,748 | ) | 694,895 |  |

2. | CASH AND CASH EQUIVALENTS

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

| Year ended 30 November 2025

| 30.11.25 |  | 1.12.24

£ | £ |

| Cash and cash equivalents | 1,204,198 |  | 1,961,461 |  |

| Year ended 30 November 2024

| 30.11.24 |  | 1.12.23

£ | £ |

| Cash and cash equivalents | 1,961,461 |  | 1,151,282 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.12.24 | Cash flow | At 30.11.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,961,461 |  | (757,263 | ) | 1,204,198 |  |

1,961,461 |  | (757,263 | ) | 1,204,198 |  |

| Debt

| Debts falling due within 1 year | (250,000 | ) | 80,000 |  | (170,000 | ) |

(250,000 | ) | 80,000 |  | (170,000 | ) |

| Total | 1,711,461 |  | (677,263 | ) | 1,034,198 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1. | STATUTORY INFORMATION

| Carterville 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Carterville Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken exemption of the disclosure exemptions available to it in respect of its separate financial statements, which are presented alongside the consolidated financial statements. Exemptions have been taken in relation to financial instruments, presentation of a cashflow statement and remuneration of key personnel.

| Basis of consolidation

| The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 November each period. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed.

| Business combinations are accounted for under the acquisition method. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used in line with those used by the group. All inter-group transactions, balances, income and expenses are eliminated on consolidation.

| Under S408 of the Companies Act 2006 the company is exempt from the requirement to present its own profit and loss account. Its profit and loss for the period is shown on the face of the company Balance Sheet.

| Going Concern

| At the time of approving the financial statements, the group remains debt free, new business quotation levels remain strong, and sales order intake has improved after a subdued start to the new year. The main trading subsidiary Allgood Limited has a bank overdraft facility, and projections indicate this will provide significant headroom over requirements. In making these forecasts the directors have carefully considered the timing of deliveries for some particularly large orders and expect the company and group to have adequate resources to continue in operational existence for the foreseeable future, being a period of not less than 12 months from the approval of these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Associates

| In the group financial statements, investments in associates are accounted for using the equity method. Investments in associates are initially recognised at the transaction price (including transactions costs) and are subsequently adjusted to reflect the group's share of the profit and loss and other comprehensive income in the associate. Goodwill arising on the acquisition of associates is accounted for in accordance with the group's policy on goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Significant judgements and estimates

| In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision effects both current and future periods.

| In preparing these financial statements, the directors have made the following judgements:

| The company reviews the carrying value of all assets for indications of impairment at each period. If indicators of impairment exist, the carrying value of the asset is subject to further testing to determine whether its carrying value exceeds its recoverable amount. This process will usually involve the estimation of future cash flows which are likely to be generated by the asset.

| A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flows at a rate that reflects the time value of money and the risk specific to that liability.

| Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

| The directors have reviewed the asset lives and associated residual values of all fixed assets classes. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issue such as future market conditions, the remaining life of the asset and projects disposal values.

| In preparing these accounts the directors have made significant estimates in respect of the defined benefit pension scheme. These estimates are referred to in the specific pension accounting policy and note 21 of the accounts.

| Turnover

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

| 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.

| Goodwill and computer software are being amortised evenly over their estimated useful lives of 10 years.

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Freehold property | - | 2% on cost, Straight line over 15 years and Straight line over 10 years

| Improvements to property | - | 10% on cost

| Plant and machinery | - | 20% on cost and 10% on cost

| Fixtures and fittings | - | 33.33% on cost, 20% on cost, 10% on cost, 2 - 4 years straight line and 20% and 33.33% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 50% on cost, 33.33% on cost and 20% on cost

| The directors adopt a policy of revaluation with regards to plant and machinery and freehold property upon either the initial acquisition of a subsidiary or where they consider cost values and fair values to be materially different.

| For these subsidiaries, the tangible asset is carried at its revalued amount, being fair value at the date of valuation less subsequent losses arising from impairment reviews. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure the carrying amount does not differ materially from those that would be determined using fair values at the end of each accounting period.

| Any revaluation increase in the carrying amount of a subsidiary's revalued asset is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in the profit and loss account, in which case the increase is credited to the profit and loss to the extent that the previous decrease is expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against the revaluation reserve in equity; decreases exceeding the balance in the revaluation reserve relating to an asset are recognised in profit or loss.

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Financial instruments

| (i) Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

| (ii) Financial assets and liabilities

| All financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

| 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 company after deducting all its liabilities.

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Financial assets and liabilities are only offset at the balance sheet date when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

| Debt instruments that have no stated interest rate and are classified as payable or receivable within on year are initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. Other debt instruments not meeting these conditions are measured at fair value through profit and loss.

| Commitments to make or receive loans which meet the conditions mentioned above are measured at cost less impairment.

| Financial assets are derecognised when and only when the contractual rights to the cash flows for the financial asset expire or are settled, when the company transfers to another party substantially all the risks and rewards of ownership of the financial asset, or the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

| Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

| (iii) Investments

| In the company balance sheet, investments in subsidiaries are measured at cost less impairment.

| (iv) Equity Instruments

| Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

| (v) Fair value measurement

| The best evidence of fair value is a quoted price for an identical asset on an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated using a valuation technique.

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Current and deferred taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

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

| Deferred tax 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.

| Deferred tax liabilities are recognised for timing differences arising from investments in subsidiaries, except where the Group is able to control the reversal of the timing difference and it is probable that it will not reverse in the foreseeable future.

| Deferred tax relating to revalued tangible fixed assets are measured using tax rates and allowances that apply to the sale of the asset.

| Where items recognised in other comprehensive income and equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.

| Current tax assets and liabilities are offset only when there is a legally enforceable right to set off the amounts and the Group intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

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

| Hire purchase and leasing commitments

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

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The group operates a defined benefit pension scheme which is now closed to future accrual.

| For the defined benefit scheme the amounts charged to operating profit are the costs arising from employee services rendered during the period and the cost of the plan introductions, benefit charges, settlements and curtailments. They are included as part of staff costs. The net interest cost on the net defined benefit liability is charged to profit and loss and included in finance costs. The net interest cost on the net defined benefit liability is charged to profit and loss and included in finance costs. Remeasurement comprising actuarial gains and losses and the return on scheme assets (excluding amounts included in net interest on the net defined benefit liability) are recognised immediately in Other Comprehensive Income.

| The defined benefit scheme is funded, with the assets of the scheme held separately from those of the company, in separate Trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the Projected Unit Method. The actuarial valuations are obtained at least triennially and are updated at each Balance Sheet date.

| Impairment of assets

| Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss.

| For non-financial assets, the asset is impaired where there is objective evidence that, as a result of one or more events that occured after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of the asset is the higher of its fair value less costs to sell and its value in use.

| For financial assets carried at amortised costs, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

| For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

| Where indicators exist for the decrease in impairment loss, and the the decrease can be related objectively to an event occuring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset ti the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| Share-based payments

| The company issues equity-settled share options to certain employees within the group. Equity-settled share-based payment transactions are measured at fair value.

| Fair value is measured by use of an earnings valuation model which is considered by management to be the most appropriate method of valuation

| The fair value of options in issue but not exercised are contained within other reserves. Where options have been granted but not vested, the Directors have estimated how many they believe will ultimately vest and they have adopted this estimation in their value calculation. Share options issued in the group scheme as consideration for employment services provided are treated as an expense of the company in the period and credited to a capital contribution reserve at fair value. On the exercise of the options, their value is transferred to profit and loss.

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

3. | TURNOVER

| The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 5,662,392 |  | 7,677,682 |  |

| Asia | 272,986 |  | 97,951 |  |

| Middle East | 1,032,577 |  | 708,341 |  |

| Rest of the World | 152,498 |  | 192,738 |  |

7,120,453 |  | 8,676,712 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,704,108 |  | 2,836,141 |  |

| Social security costs | 327,638 |  | 316,155 |  |

| Other pension costs | 228,376 |  | 237,582 |  |

3,260,122 |  | 3,389,878 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Office staff | 21 |  | 23 |  |

| Warehouse staff | 5 |  | 5 |  |

| Sales/technical staff | 30 |  | 29 |  |

| Production staff | 9 |  | 9 |  |

65 |  | 66 |  |

| Share based payments

| No costs in respect of the fair value of share options in the group scheme granted but not exercised have been included within wages and salaries in either year.

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 20,000 |  | 100,000 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

5. | OPERATING LOSS

| The operating loss is stated after charging:

| 2025 |  | 2024

£ | £ |

| Other operating leases | 26,180 |  | 30,678 |  |

| Depreciation - owned assets | 70,575 |  | 69,504 |  |

| Goodwill amortisation | 124,256 |  | 124,256 |  |

| Auditors' remuneration | 40,650 |  | 49,283 |  |

6. | AMOUNTS WRITTEN OFF INVESTMENTS |

| 2025 |  | 2024

£ | £ |

| Loss in movement in fair value of investments | (9 | ) | 3 |  |

7. | TAXATION

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 30 November 2025 nor for the year ended 30 November 2024.

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| (Loss)/profit before tax | (51,725 | ) | 77,172 |  |

| (Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | (12,931 | ) | 19,293 |  |

| Effects of:

| Expenses not deductible for tax purposes | 35,723 |  | 1,081 |  |

| Income not taxable for tax purposes | (97,478 | ) | (50,309 | ) |

| Depreciation in excess of capital allowances | 9,738 |  | 10,164 |  |

| Utilisation of tax losses | (13,935 | ) | (99,538 | ) |

| Amortisation of goodwill on consolidation | 31,064 |  | 31,064 |  |

| Adjustment in respect of unrealised profit on stocks | - |  | 42,439 |  |

| Timing differences in respect of employers pension liabilities unpaid at year end | 2,952 |  | (1,360 | ) |

| Losses carried forward for future relief | 44,867 |  | 57,166 |  |

| Adjustment in respect of pension liability movements in the financial statements | - |  | (10,000 | ) |

| Total tax charge | - |  | - |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

7. | TAXATION - continued

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Actuarial gain/(loss) on pension

| liability | (1,376,019 | ) | 302,772 |  | (1,073,247 | ) |

(1,376,019 | ) | 302,772 |  | (1,073,247 | ) |

| 2024 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Actuarial gain/(loss) on pension

| liability | 3,664,000 |  | (926,000 | ) | 2,738,000 |  |

3,664,000 |  | (926,000 | ) | 2,738,000 |  |

| Deferred tax of £101,358 (2024: £108,131) arises on unrealised gains on the revaluing of freehold property to its fair value. No provision for deferred tax has been made due to the offset of trading losses carried forward as below.

| Deferred tax of £436,073 (2024: £433,281) arises on unrealised gains on the revaluing of investment in associate to its fair value. No provision for deferred tax has been made due to the offset of trading losses carried forward as below.

| Trading losses of group companies at the period end, totalling £12,012,995 (2024: £11,890,422), are available for carry forward to be relieved against future profits. Due to uncertainties over its recoverability, a deferred tax asset of £3,003,249 (2024: £2,972,606) relating to corporation tax losses has not been recognised.

8. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

9. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| B Ordinary shares shares of £0.10 each

| Interim | 29,295 |  | - |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

10. | INTANGIBLE FIXED ASSETS

| Group

| Computer |

| Goodwill |  | software |  | Totals

£ | £ | £ |

| COST

| At 1 December 2024 | 1,242,561 |  | 39,266 |  | 1,281,827 |  |

| Additions | - |  | 20,596 |  | 20,596 |  |

| At 30 November 2025 | 1,242,561 |  | 59,862 |  | 1,302,423 |  |

| AMORTISATION

| At 1 December 2024 | 1,056,177 |  | - |  | 1,056,177 |  |

| Amortisation for year | 124,256 |  | - |  | 124,256 |  |

| At 30 November 2025 | 1,180,433 |  | - |  | 1,180,433 |  |

| NET BOOK VALUE

| At 30 November 2025 | 62,128 |  | 59,862 |  | 121,990 |  |

| At 30 November 2024 | 186,384 |  | 39,266 |  | 225,650 |  |

11. | TANGIBLE FIXED ASSETS

| Group

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| COST OR VALUATION

| At 1 December 2024 | 1,283,200 |  | 5,746 |  | 375,170 |  |

| Additions | - |  | - |  | 10,627 |  |

| Disposals | - |  | - |  | - |  |

| At 30 November 2025 | 1,283,200 |  | 5,746 |  | 385,797 |  |

| DEPRECIATION

| At 1 December 2024 | 39,138 |  | 3,975 |  | 195,697 |  |

| Charge for year | 17,963 |  | 575 |  | 35,192 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 30 November 2025 | 57,101 |  | 4,550 |  | 230,889 |  |

| NET BOOK VALUE

| At 30 November 2025 | 1,226,099 |  | 1,196 |  | 154,908 |  |

| At 30 November 2024 | 1,244,062 |  | 1,771 |  | 179,473 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

11. | TANGIBLE FIXED ASSETS - continued

| Group

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 December 2024 | 128,147 |  | 7,750 |  | - |  | 1,800,013 |  |

| Additions | 13,264 |  | - |  | 1,230 |  | 25,121 |  |

| Disposals | (41,690 | ) | - |  | - |  | (41,690 | ) |

| At 30 November 2025 | 99,721 |  | 7,750 |  | 1,230 |  | 1,783,444 |  |

| DEPRECIATION

| At 1 December 2024 | 91,904 |  | 7,750 |  | - |  | 338,464 |  |

| Charge for year | 16,566 |  | - |  | 279 |  | 70,575 |  |

| Eliminated on disposal | (41,690 | ) | - |  | - |  | (41,690 | ) |

| At 30 November 2025 | 66,780 |  | 7,750 |  | 279 |  | 367,349 |  |

| NET BOOK VALUE

| At 30 November 2025 | 32,941 |  | - |  | 951 |  | 1,416,095 |  |

| At 30 November 2024 | 36,243 |  | - |  | - |  | 1,461,549 |  |

| Cost or valuation at 30 November 2025 is represented by:

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| Valuation in 2016 | 50,000 |  | - |  | (40,018 | ) |

| Valuation in 2022 | 412,532 |  | - |  | - |  |

| Cost | 820,668 |  | 5,746 |  | 425,815 |  |

1,283,200 |  | 5,746 |  | 385,797 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| Valuation in 2016 | - |  | - |  | - |  | 9,982 |  |

| Valuation in 2022 | - |  | - |  | - |  | 412,532 |  |

| Cost | 99,721 |  | 7,750 |  | 1,230 |  | 1,360,930 |  |

99,721 |  | 7,750 |  | 1,230 |  | 1,783,444 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

11. | TANGIBLE FIXED ASSETS - continued

| Group

| If property and plant & machinery had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 1,235,855 |  | 1,235,855 |  |

| Aggregate depreciation | 384,913 |  | 353,301 |  |

| Value of land in freehold land and buildings | 225,000 |  | 225,000 |  |

| Plant and machinery was revalued as at 30 November 2016 at an open market fair value by independent valuer, Deeley Matthews.

| A valuation of freehold property was performed as at 15 September 2022 by Aitchison Raffety Property Consultants, who are external valuers. The basis of valuation was fair value as defined by RICS Valuation - Professional Standards.

| The directors consider the current values to represent the market value as at 30 November 2025.

12. | FIXED ASSET INVESTMENTS

| Group

| Interest |

| in other |

| participating |  | Listed |

| interests |  | investments |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 December 2024 | 1,733,305 |  | 562 |  | 1,733,867 |  |

| Revaluations | 11,170 |  | - |  | 11,170 |  |

| At 30 November 2025 | 1,744,475 |  | 562 |  | 1,745,037 |  |

| PROVISIONS

| At 1 December 2024 | - |  | 528 |  | 528 |  |

| Provision written back | - |  | (9 | ) | (9 | ) |

| At 30 November 2025 | - |  | 519 |  | 519 |  |

| NET BOOK VALUE

| At 30 November 2025 | 1,744,475 |  | 43 |  | 1,744,518 |  |

| At 30 November 2024 | 1,733,305 |  | 34 |  | 1,733,339 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

12. | FIXED ASSET INVESTMENTS - continued

| Group

| Cost or valuation at 30 November 2025 is represented by:

| Interest |

| in other |

| participating |  | Listed |

| interests |  | investments |  | Totals

£ | £ | £ |

| Valuation in 2016 | 81,757 |  | - |  | 81,757 |  |

| Valuation in 2017 | 57,373 |  | - |  | 57,373 |  |

| Valuation in 2018 | 457,579 |  | - |  | 457,579 |  |

| Valuation in 2019 | 475,464 |  | - |  | 475,464 |  |

| Valuation in 2020 | (244,680 | ) | - |  | (244,680 | ) |

| Valuation in 2021 | 160,025 |  | - |  | 160,025 |  |

| Valuation in 2022 | 135,994 |  | - |  | 135,994 |  |

| Valuation in 2023 | 121,715 |  | - |  | 121,715 |  |

| Valuation in 2024 | (169,755 | ) | - |  | (169,755 | ) |

| Valuation in 2025 | 11,170 |  | - |  | 11,170 |  |

| Cost | 657,833 |  | 562 |  | 658,395 |  |

1,744,475 |  | 562 |  | 1,745,037 |  |

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 December 2024

| and 30 November 2025 | 8,000,000 |  |

| NET BOOK VALUE

| At 30 November 2025 | 8,000,000 |  |

| At 30 November 2024 | 8,000,000 |  |

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

| Subsidiaries

| Allgood Holdings Limited (00360355)

| Registered office: 63-83 Brearley Street, Birmingham, B19 3NT

| Nature of business: Holding company

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

12. | FIXED ASSET INVESTMENTS - continued

| Allgood Limited (02193307)

| Registered office: 63-83 Brearley Street, Birmingham, B19 3NT

| Nature of business: Architectural ironmongery

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Allgood Secure Limited (01608278)

| Registered office: 63-83 Brearley Street, Birmingham, B19 3NT

| Nature of business: Access control and security products

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Allgood Manufacturing Limited (0301472)

| Registered office: 63-83 Brearley Street, Birmingham, B19 3NT

| Nature of business: Manufacture of architectural hardware

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Carterville Limited is providing parental company guarantee to the above subsidiaries and as such these subsidiary undertakings are exempt from audit by virtue of S479A of the Companies Act 2006.

| Associated company

| Key Technologies International Limited

| Registered office: Suite 1111. Metrol Loft, 38 Kwai Hei Street, Kwai Chung, Hong Kong

| Nature of business: Architectural ironmongery

| %

| Class of shares: | holding |

| Ordinary | 33.33 |

| Listed investments represent investments in non-puttable ordinary shares. The carrying value of listed investments at the period end was £43 (2024: £34). These values have been determined with reference to the quoted market price at the reporting date.

| Carterville Limited is providing parental company guarantee to the following subsidiaries and as such these subsidiaries are exempt from audit by virtue of S479A of the Companies Act 2006.

| Name of undertaking |  | Company Number |  |

| Allgood Holdings Limited |  | 00360355 |  |

| Allgood Limited |  | 02193307 |  |

| Allgood Manufacturing Limited |  | 03014728 |  |

| Allgood Secure Limited |  | 01608278 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

13. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Work-in-progress | 57,146 |  | 56,708 |  |

| Finished goods | 594,699 |  | 581,476 |  |

651,845 |  | 638,184 |  |

| An impairment loss of £62,596 (2024: impairment loss reversal £48,331) has been recognised in the profit and loss.

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

| Group |

2025 | 2024 |

£ | £ |

| Trade debtors | 891,583 |  | 1,273,519 |  |

| Amounts owed by participating interests | 17,192 |  | 31,364 |  |

| Other debtors | 11,608 |  | 18,545 |  |

| Prepayments and accrued income | 181,729 |  | 142,523 |  |

1,102,112 |  | 1,465,951 |  |

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade creditors | 779,915 |  | 1,415,962 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 109,287 |  | - |  |

| Social security and other taxes | 200,160 |  | 269,076 |  | - |  | - |  |

| Other creditors | 145,099 |  | 152,930 |  | - |  | - |  |

| Directors' current accounts | 170,000 |  | 250,000 |  | 170,000 |  | 250,000 |  |

| Accrued expenses | 92,571 |  | 299,208 |  | - |  | - |  |

1,387,745 |  | 2,387,176 |  | 279,287 |  | 250,000 |  |

16. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 25,541 |  | 30,510 |  |

| Between one and five years | 43,619 |  | 66,180 |  |

69,160 |  | 96,690 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

16. | LEASING AGREEMENTS - continued

| Included in operating lease commitments above were commitments in respect of land and buildings of £17,027 (2024: £9,250) due within one year and £25,983 (2024: £63,867) due between one and five years.

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 27,920 | A Ordinary shares | £0.10 | 2,792 |  | 2,792 |  |

| 7,000,000 | Preference shares | £1.00 | 7,000,000 |  | 7,000,000 |  |

| 93 | B Ordinary shares | £0.10 | 9 |  | 3 |  |

7,002,801 |  | 7,002,795 |  |

| 63 B Ordinary shares shares of £0.10 each were allotted and fully paid for cash at par during the year.

| A Ordinary shares are non-redeemable and have full and equal rights as to voting and dividends. They are entitled to the balance on a liquidation or winding up after paying £1 per share on the Preference shares and the first amount payable on the B Ordinary shares.

| B Ordinary shares are non-redeemable and have no voting rights. They are entitled to dividends as declared and entitled on a liquidation or winding up, after paying £1 per share on the Preference shares, to an amount equal to 5% of the total paid to the holders of Preference shares and then rank equally with the A Ordinary shareholders in respect of any excess.

| Preference shares are non-redeemable and have no rights as to voting or dividends. They are entitled on liquidation or winding up to payment of £1 per share in priority to any payment to the Ordinary shares.

18. | RESERVES

| Group

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 December 2024 | 967,682 |  | 540,981 |  | 1,508,663 |  |

| Deficit for the year | (51,725 | ) | - |  | (51,725 | ) |

| Dividends | (29,295 | ) | - |  | (29,295 | ) |

| Actuarial movement on pension | (1,376,019 | ) | - |  | (1,376,019 | ) |

| Deferred tax on actuarial movement in value | 302,772 |  | - |  | 302,772 |  |

| Transfers from/(to) retained

| earnings reserve | 11,352 |  | (11,352 | ) | - |  |

| At 30 November 2025 | (175,233 | ) | 529,629 |  | 354,396 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

18. | RESERVES - continued

| Company

| Retained

| earnings

£ |

| At 1 December 2024 | 747,208 |  |

| Profit for the year | - |

| Dividends | (29,295 | ) |

| At 30 November 2025 | 717,913 |  |

| The group and company's reserves are as follows:

| The retained earnings reserve represents the cumulative profits and losses, net of dividends.

| The revaluation reserve represents the cumulative effect of revaluations of freehold property and plant and machinery which are valued at fair value.

19. | EMPLOYEE BENEFIT OBLIGATIONS

| The group sponsors the Allgood Holdings Pension and Life Assurance Scheme, a funded defined benefit pension scheme in the UK. The Scheme is set up on a tax relieved basis as a separate trust independent of the group and is supervised by independent trustees. The Trustees of the Scheme are responsible for ensuring that the correct benefits are paid, that the Scheme is appropriately funded and that Scheme assets are appropriately invested.

| The group pays the cost of the Scheme as determined by regular actuarial valuations. The Trustees are required to use prudent assumptions to value the liabilities and costs of the Scheme whereas the accounting assumptions must be best estimates.

| The group is not expected to pay any contributions towards the Scheme over the coming year as per the Schedule of Contributions signed in April 2024.

| A formal actuarial valuation was carried out as at 31 March 2023. The results of that valuation have been projected to 30 November 2025 with an allowance for actual cashflows and using the assumptions set out below. The figures in the following disclosure were measured using the Defined Accrued Benefit Method.

| The amounts recognised in the balance sheet are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Present value of funded obligations | (28,167,088 | ) | (28,461,000 | ) |

| Fair value of plan assets | 31,506,000 |  | 33,011,000 |  |

3,338,912 |  | 4,550,000 |  |

| Present value of unfunded obligations | - |  | - |  |

| Surplus | 3,338,912 |  | 4,550,000 |  |

| Deferred tax liability | (834,728 | ) | (1,137,500 | ) |

| Net asset | 2,504,184 |  | 3,412,500 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

19. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| The amounts recognised in profit or loss are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Current service cost | - |  | - |  |

| Net interest from net defined benefit asset/liability | (253,000 | ) | (40,000 | ) |

| Past service cost | - |  | - |  |

| Administration expenses | 88,069 |  | - |  |

(164,931 | ) | (40,000 | ) |

| Actual return on plan assets | 761,751 |  | 1,447,000 |  |

| The current and past service costs, settlements and curtailments, together with the net interest expense for the year are included in profit and loss. Remeasurement of the net defined benefit liability are included in Other Comprehensive Income.

| Changes in the present value of the defined benefit obligation are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Opening defined benefit obligation | 28,461,000 |  | 32,110,000 |  |

| Interest cost | 1,533,000 |  | 1,476,000 |  |

| Actuarial losses/(gains) | 351,770 |  | (3,733,000 | ) |

| Benefits paid | (2,178,682 | ) | (1,392,000 | ) |

28,167,088 |  | 28,461,000 |  |

| Changes in the fair value of scheme assets are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Opening fair value of scheme assets | 33,011,000 |  | 32,956,000 |  |

| Administration expenses | (88,069 | ) | - |  |

| Expected return | 1,786,000 |  | 1,516,000 |  |

| Actuarial gains/(losses) | (1,024,249 | ) | (69,000 | ) |

| Benefits paid | (2,178,682 | ) | (1,392,000 | ) |

31,506,000 |  | 33,011,000 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

19. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| The amounts recognised in other comprehensive income are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Actuarial gains/(losses) | (1,376,019 | ) | 3,664,000 |  |

| Deferred tax on actuarial gains/(losses) | 302,772 |  | (926,000 | ) |

(1,073,247 | ) | 2,738,000 |  |

| The major categories of scheme assets as amounts of total scheme assets are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Multi asset | 9,940,197 |  | 12,769,000 |  |

| Bonds | 11,240,340 |  | 13,008,000 |  |

| Secured pensions | 4,927,709 |  | 5,247,000 |  |

| Property | 243,505 |  | 506,000 |  |

| Cash | 4,032,661 |  | 898,000 |  |

| Alternative assets | 1,121,588 |  | 583,000 |  |

31,506,000 |  | 33,011,000 |  |

| The Scheme has no investments in the group or in property occupied by the group.

| Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2025 | 2024 |

| Discount rate | 5.60% | 5.60% |

| Inflation assumptions - RPI | 2.85% | 3.10% |

| Inflation assumptions - CPI | 2.50% | 2.75% |

| Revaluation of deferred pensions | 2.50% | 2.75% |

| Average increases for pensions in payment | 4.00% | 4.00% |

|  | 2025 |  |  | 2024 |  |

| Expected age at death of current pensioner at age 60: |  |

| Male |  | 86.0 |  |  | 85.5 |  |

| Female |  | 88.6 |  |  | 88.4 |  |

| Expected age of death of future pensioner at age 60, now aged 40: |  |

| Male |  | 87.2 |  |  | 86.8 |  |

| Female |  | 89.8 |  |  | 89.6 |  |

CARTERVILLE LIMITED (REGISTERED NUMBER: 10116381)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

20. | RELATED PARTY DISCLOSURES

| Key Technologies International Limited

| During the year the group sold goods totalling £245,702 (2024: £167,875) to Key Technologies International Limited, a company in which Allgood Holdings Ltd has a 33 1/3% holding. In addition, G P Shirville, director, is also a director of Key Technologies International Limited. At the year end, Key Technologies Limited had a liability to the company of £17,192 (2024: £31,364). All transactions were on an arms length basis and on normal commercial terms.

| Directors interest in contracts

| During the year the company paid management services totalling £45,000 (2024: £45,000) to Tansor Services Limited, a company in which G P Shirville and A M Carter-Clout, directors, had a material interest as directors and shareholders. At the year end, Tansor Services Limited had a liability from the company of £nil (2024: £nil). All transactions were on an arms length basis and on normal commercial terms.

| Key management personnel

| During the year, a total of key management personnel compensation of £156,136 (2024: £318,742) was paid.

| Director's current accounts

| £170,000 (2024: £250,000) was owed to the directors at the year end. The loans are unsecured and interest free.

21. | ULTIMATE CONTROLLING PARTY

| No individual has overall control of the entity.