REGISTERED NUMBER: 16448618 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD 13 MAY 2025 TO 31 MAY 2026

FOR

PAUL EARL HOLDINGS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

Mrs K B Coade

C J Foote

D R Moore

Mr W P B Moore

L J Matthews

M Lovis

REGISTERED OFFICE:

Moore House, Albourne Court

Henfield Road

Albourne

Hassocks

West Sussex

BN6 9FF

REGISTERED NUMBER:

16448618 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

The directors present their strategic report for the period 13 May 2025 to 31 May 2026.

REVIEW OF BUSINESS

Paul Earl Holdings Limited is a well-established Design and Build Electrical and Mechanical Installations Contractor with a strong reputation for quality and reliability. The company operates across a broad range of sectors, including retail, entertainment, education, healthcare, banking, and commercial office fit-outs. Our diverse portfolio and sector spread provide resilience against market fluctuations, while our continued success in securing repeat business and long-term framework agreements underlines the strength of our client relationships and service delivery.

For the year ended 31 May 2026, the company delivered electrical services on a range of high-profile projects for a number of well-known, blue-chip organisations across various sectors. These projects were delivered either directly or through established partnerships with leading main contractors. This performance reflects both the company's strong operational capabilities and its ability to maintain a healthy and sustainable pipeline through a competitive and efficient bid process.

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in the construction industry and is subject to significant government regulation including stringent laws relating to health and safety.

Like every business, our management team is regularly monitoring our risk profile and provides clear guidelines and assurances that all social, legal and health and safety responsibilities are adhered to.

In 2020 the directors made the decision to take out trade credit insurance on all of our clients to ensure that the business is fully protected moving forward from the risk of bad debts.

DEVELOPMENT AND PERFORMANCE

The Group has continued to trade well following the year end, with turnover increasing and the net profit margin remaining relatively consistent. The company has already secured orders of approximately £30 million and expects to exceed the results achieved in these financial statements.

FURTHER BUSINESS REVIEW AND RISKS

The liquidity of the group remains strong and additional financing measures have not been required and are not considered necessary. The balance sheet remains positive.

The group has a good forward order book and order pipeline and will be in a strong position to maintain market share and contracts with key customers.

ON BEHALF OF THE BOARD:

D R Moore - Director

21 August 2026

The directors present their report with the financial statements of the company for the period 13 May 2025 to 31 May 2026.

INCORPORATION

The company was incorporated on 13 May 2025 and commenced trading on the same date.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of a holding company.

DIVIDENDS

The total distribution of dividends for the period ended 31 May 2026 will be £644,219.

DIRECTORS

The directors who have held office during the period from 13 May 2025 to the date of this report are as follows:

Mrs K B Coade - appointed 4 July 2025

C J Foote - appointed 4 July 2025

D R Moore - appointed 13 May 2025

Mr W P B Moore - appointed 4 July 2025

L J Matthews - appointed 4 July 2025

M Lovis - appointed 4 July 2025

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D R Moore - Director

21 August 2026

Opinion

We have audited the financial statements of Paul Earl Holdings Limited (the 'company') for the period ended 31 May 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 May 2026 and of its profit for the period then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and indirect taxes, and we considered the extent to which non-compliance might have a material effect on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and the manipulation of exceptional items and management bias in accounting estimates. Audit procedures performed by the engagement team included, but were not limited to:

- enquiries with management including consideration of known or suspected instances of fraud and non-compliance with laws and regulations and examining supporting calculations where a provision has been made in respect of these;

- reading key correspondence with regulatory authorities in relation to compliance with certain employment laws and indirect tax matters;

- understanding and evaluating the design and implementation of management's controls designed to prevent and detect irregularities;

- challenging assumptions and judgements made by management in their significant accounting estimates, in particular, in relation to accrued income cut off

- identifying and testing journal entries in particular and journal entries posted with unusual account combinations and postings by unusual users;

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Use of our report

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

Stephen James Moore (Senior Statutory Auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

21 August 2026

TURNOVER

-

Administrative expenses

(42

)

OPERATING LOSS

(42

)

Income from shares in group undertakings

2,682,791

Interest receivable and similar income

21,437

2,704,186

Interest payable and similar expenses

4

(144,022

)

PROFIT BEFORE TAXATION

2,560,164

Tax on profit

5

-

PROFIT FOR THE FINANCIAL PERIOD

2,560,164

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

2,560,164

FIXED ASSETS

Investments

7

5,277,020

CURRENT ASSETS

Debtors

8

1

Cash at bank

1,226,808

1,226,809

CREDITORS

Amounts falling due within one year

9

(4,561,188

)

NET CURRENT LIABILITIES

(3,334,379

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,942,641

CAPITAL AND RESERVES

Called up share capital

10

65,268

Retained earnings

11

1,877,373

SHAREHOLDERS' FUNDS

1,942,641

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

D R Moore - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

65,268

-

65,268

Dividends

-

(682,791

)

(682,791

)

Total comprehensive income

-

2,560,164

2,560,164

Balance at 31 May 2026

65,268

1,877,373

1,942,641

1.	STATUTORY INFORMATION

Paul Earl 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 Company Information page.

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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the 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 period 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.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the period ended 31 May 2026.

The average number of employees during the period was NIL.

£

Directors' remuneration

-

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

£

Interest

144,022

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the period.

6.

DIVIDENDS

£

Ordinary A to F shares of 1 each

Final

682,791

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

5,277,020

At 31 May 2026

5,277,020

NET BOOK VALUE

At 31 May 2026

5,277,020

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

Paul Earl Limited

Registered office: Moore House, Albourne Court, Henfield Road, Albourne, Hassocks, West Sussex, BN6 9FF

Nature of business: Electrical and Mechanical contracting and design.

%

Class of shares:

holding

Ordinary A to J

100.00

2026

£

Aggregate capital and reserves

5,509,898

Profit for the period

3,118,684

On 4th July 2025, Paul Earl Holdings Limited purchased the entire share capital of Paul Earl Limited.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

1

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

2,810,590

Other creditors

1,750,598

4,561,188

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

65,268

Ordinary A to F

1

65,268

11.

RESERVES

Retained

earnings

£

Profit for the period

2,560,164

Dividends

(682,791

)

At 31 May 2026

1,877,373