REGISTERED NUMBER: 00490134 (England and Wales)

Crownfield Holdings Limited

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2025

Page

Company information

1

Group strategic report

2

Report of the directors

4

Report of the independent auditors

6

Consolidated statement of comprehensive income

10

Consolidated balance sheet

12

Company balance sheet

14

Consolidated statement of changes in equity

16

Company statement of changes in equity

17

Consolidated cash flow statement

18

Notes to the consolidated cash flow statement

19

Notes to the consolidated financial statements

21

Directors:

I H Terry

S H Terry

J I Terry

G F Ellis

Secretary:

G F Ellis

Registered office:

Thurston Building

Hallsford Bridge Industrial Est

Ongar

Essex

CM5 9RB

Registered number:

00490134 (England and Wales)

Auditors:

Clay Ratnage Strevens & Hills

Chartered Accountants and

Statutory Auditor

Construction House, Runwell Road

Wickford

Essex

SS11 7HQ

The principal activity of the company is that of a holding company. Its subsidiary companies' principal activities are those of general and precision engineers and motor dealers and there was no change in these activities during the year. One of the subsidiary companies was also a waste recycling agent but this activity ceased during the year. The company still held one property from the residential development at Dunmow in stock at the year end.

Review of business

The directors are pleased with the performance of the group, considering the prevailing market conditions during the year under review. During the year the group achieved pre-tax profits of £499,997 (2024 - £335,534).

The group saw a decline in turnover from £19,700,223 in 2024, down to £18,946,776 in 2025. The main reason for this reduction is that, the directors took the decision to cease the sale of new vehicles in Perkins Garages Limited midway through the previous year. As a result, the company generated lower levels of turnover however, the gross profit margin achieved has improved following this decision from 4.3% in 2024 to 5.0% in 2025 and the company has, consequently, achieved an improved gross profit in 2025 despite the decline in turnover. In addition, the waste management trade within Tipmaster Limited ceased during the year, resulting in a fall in turnover of 2.6% in 2025.

The one remaining plot from the residential development undertaken by the parent company remains unsold. The directors are pleased to report that this property has been sold subsequent to the end of the year.

Throughout the year the directors have continued to invest in the group's systems to develop new efficiencies and to control costs. As a result, the group's gross profit margin has increased from 14.3% in 2024 to 15.8% in 2025. The directors are pleased with the overall results of the group during the year under review.

The group has also continued with its capital investment programme in the appropriate areas of the business to ensure the ongoing success of the group.

Principal risks and uncertainties

The principal risks and uncertainties identified by the directors of the group relate to factors concerning the overall state of the UK economy, in particular the effects on the motor industry. The global economy also affects the export sales within the group. The war in Ukraine had an impact on raw material prices and availability and the directors have monitored the situation and controlled purchasing to the greatest extent possible in order to minimise the effect on the group.

The directors are actively involved in the trades of the group on a daily basis which enables them to closely monitor activities and as a result the group is in a good position, financially and operationally, to adapt to the continuing challenges. The group continues to diversify in order to manage the risks involved in each business sector.

Financial key performance indicators

The directors consider that the key financial performance indicators are as follows:

Gross Profit Percentage - The directors confirm that the gross profit percentage has improved to 15.8% (2024 - 14.3%). The directors are happy that this is in line with their expectations and expect to maintain or improve this margin in the current year.

Debt/Equity Ratio - The directors confirm that the debt over equity ratio has decreased and is 0.26 as at 31 December 2025, compared to 0.45 at 31 December 2024. A decrease was anticipated as the group continues to repay its external borrowing. In the year ended 31 December 2025 this was achieved as a consequence of the sale of a variety of assets held under hire purchase and thus the settlement of remaining finance. The ratio has also improved due to the revaluation of freehold property in the year.

The Group's Net Value - The directors are pleased to report that the net value of the group has increased by £1,549,755 (2024 - £282,266).

On behalf of the board:

S H Terry - Director

27 August 2026

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

Principal activities

The principal activity of the company is that of a holding company. Its subsidiary companies' principal activities are those of general and precision engineers, waste management and motor dealers and there was no change in these activities during the year.

Dividends

Dividends amounting to £45,540 (2024 - £45,540) were paid during the year. The directors do not recommend the payment of any further dividend.

Research and development

The group is involved in research and development projects in relation to engineering project work.

Future developments

The directors are not aware of any future developments which would have a significant effect on the group.

Directors

The directors who served during the year were:

I H Terry

S H Terry

J I Terry

G F Ellis

Fixed assets

Details of movements in fixed assets are set out in the notes to the accounts.

Events since the end of the year

There have been no events subsequent to the year end which materially effect the results for the year or the group's state of affairs as at 31 December 2025.

Close company

The parent company and its subsidiaries are close companies within the meaning of S.439 CTA 2010.

Directors' responsibilities statement

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he 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 group's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006, Clay Ratnage Strevens & Hills will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

On behalf of the board:

G F Ellis - Director

27 August 2026

Opinion

We have audited the financial statements of Crownfield Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated statement of comprehensive income, 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 31 December 2025 and of the group's profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group strategic report and the Report of the directors, but does not include the financial statements and our Report of the auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Group strategic report and the Report of the directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group strategic report and the Report of the directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Report of the directors.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page five, 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

To identify risks of material misstatement due to fraud we assess events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures include:

-

Obtaining an understanding of the legal and regulatory frameworks applicable to the group and the sectors in which it operates.

-

Obtaining an understanding of how the group is complying with those legal and regulatory frameworks by making enquiries to the group accounting department and management.

-

Assessing the susceptibility of the group financial statements to material misstatement caused by fraud or other irregularities, by undertaking the following procedures:

-

Identifying and assessing the design effectiveness of controls which management have in place to prevent and detect fraud.

-

Understanding how those charged with governance consider and address the potential for override of controls and management bias.

-

Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

-

Assessing the extent of compliance with the relevant laws and regulations.

-

Assessing the extent to which pressures exist which may increase the risk of fraudulent revenue recognition.

Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated to the audit team, as well as potential risks pertaining to the group of which this company is a member.

The inherent limitations of audit present an unavoidable risk that we, the auditors, may not detect some material misstatements within the financial statements despite proper planning and performance of our duties as auditors. Equally, there remains a risk of the non-detection of fraud which could involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. The audit procedures carried out are designed to detect material misstatements within the financial statements. We take no responsibility for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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.

Laura Mallion (Senior Statutory Auditor)

for and on behalf of Clay Ratnage Strevens & Hills

Chartered Accountants and

Statutory Auditor

Construction House, Runwell Road

Wickford

Essex

SS11 7HQ

27 August 2026

Revenue

3

18,946,777

19,700,223

Cost of sales

15,927,243

16,876,152

Gross profit

3,019,534

2,824,071

Administrative expenses

2,395,638

2,338,493

623,896

485,578

Other operating income

4,920

12,745

Operating profit

628,816

498,323

Interest receivable and similar income

64,448

60,202

693,264

558,525

693,264

558,525

Interest payable and similar expenses

5

193,287

222,991

Profit before taxation

6

499,977

335,534

Tax on profit

8

138,432

7,729

Profit for the financial year

361,545

327,805

Other comprehensive income

Revaluation of freehold property

1,650,000

-

Income tax relating to other comprehensive income

(416,250

)

-

Other comprehensive income for the year, net of income tax

1,233,750

-

Total comprehensive income for the year

1,595,295

327,805

Profit attributable to:

Owners of the parent

361,545

327,805

Total comprehensive income attributable to:

Owners of the parent

1,595,295

327,805

Fixed assets

Intangible assets

11

2,683

1,633

Tangible assets

12

11,882,484

10,471,441

Investments

13

1

1

Investment property

14

48,311

48,311

11,933,479

10,521,386

Current assets

Stock

15

3,133,844

3,205,841

Debtors

16

1,858,411

1,331,368

Cash at bank and in hand

306,694

1,963,047

5,298,949

6,500,256

Creditors

Amounts falling due within one year

17

2,615,096

4,140,520

Net current assets

2,683,853

2,359,736

Total assets less current liabilities

14,617,332

12,881,122

Creditors

Amounts falling due after more than one year

18

(580,969

)

(775,266

)

Provisions for liabilities

22

(1,666,390

)

(1,285,638

)

Net assets

12,369,973

10,820,218

Capital and reserves

Called up share capital

23

345,077

345,077

Share premium

24

1,500

1,500

Revaluation reserve

24

5,724,844

4,491,094

Retained earnings

24

6,298,552

5,982,547

Shareholders' funds

12,369,973

10,820,218

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

S H Terry - Director

Fixed assets

Intangible assets

11

-

-

Tangible assets

12

13,523

35,660

Investments

13

150,100

150,100

Investment property

14

9,748,311

8,098,311

9,911,934

8,284,071

Current assets

Stock

15

600,000

590,000

Debtors

16

2,047,591

1,506,764

Cash at bank

18,056

1,877,242

2,665,647

3,974,006

Creditors

Amounts falling due within one year

17

90,645

2,118,105

Net current assets

2,575,002

1,855,901

Total assets less current liabilities

12,486,936

10,139,972

Creditors

Amounts falling due after more than one year

18

(3,772,910

)

(3,152,948

)

Provisions for liabilities

22

(1,476,393

)

(1,060,143

)

Net assets

7,237,633

5,926,881

Capital and reserves

Called up share capital

23

345,077

345,077

Share premium

24

1,500

1,500

Fair value reserve

24

5,724,844

4,491,094

Retained earnings

24

1,166,212

1,089,210

Shareholders' funds

7,237,633

5,926,881

Company's profit for the financial year

1,356,295

77,432

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

S H Terry - Director

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

345,077

5,700,282

1,500

4,491,094

10,537,953

Changes in equity

Total comprehensive income

-

327,805

-

-

327,805

Dividends on equity shares

-

(45,540

)

-

-

(45,540

)

Balance at 31 December 2024

345,077

5,982,547

1,500

4,491,094

10,820,218

Changes in equity

Total comprehensive income

-

361,545

-

1,233,750

1,595,295

Dividends on equity shares

-

(45,540

)

-

-

(45,540

)

Balance at 31 December 2025

345,077

6,298,552

1,500

5,724,844

12,369,973

Called up

Fair

share

Retained

Share

value

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

345,077

1,057,318

1,500

4,491,094

5,894,989

Changes in equity

Total comprehensive income

-

77,432

-

-

77,432

Dividends on equity shares

-

(45,540

)

-

-

(45,540

)

Balance at 31 December 2024

345,077

1,089,210

1,500

4,491,094

5,926,881

Changes in equity

Total comprehensive income

-

122,545

-

1,233,750

1,356,295

Dividends on equity shares

-

(45,540

)

-

-

(45,540

)

Balance at 31 December 2025

345,077

1,166,215

1,500

5,724,844

7,237,636

Cash flows from operating activities

Cash generated from operations

1

853,599

3,237,660

Interest paid

(130,488

)

(163,988

)

Interest element of hire purchase payments paid

(31,013

)

(33,181

)

Finance costs paid

(31,786

)

(25,822

)

Tax paid

(62,539

)

(16,972

)

Net cash from operating activities

597,773

2,997,697

Cash flows from investing activities

Purchase of tangible fixed assets

(224,579

)

(508,469

)

Sale of tangible fixed assets

67,677

80,995

Interest received

64,448

60,202

Net cash from investing activities

(92,454

)

(367,272

)

Cash flows from financing activities

Loan repayments in year

(1,866,991

)

(2,411,386

)

Capital repayments in year

(248,245

)

(233,118

)

Amount withdrawn by directors

(896

)

-

Equity dividends paid

(45,540

)

(45,540

)

Net cash from financing activities

(2,161,672

)

(2,690,044

)

Decrease in cash and cash equivalents

(1,656,353

)

(59,619

)

Cash and cash equivalents at beginning of year

2

1,963,047

2,022,666

Cash and cash equivalents at end of year

2

306,694

1,963,047

1.	Reconciliation of profit before taxation to cash generated from operations

2025

2024

£

£

Profit before taxation

499,977

335,534

Depreciation charges

366,399

414,358

Loss on disposal of fixed assets

28,410

12,745

Finance costs

193,287

222,991

Finance income

(64,448

)

(60,202

)

1,023,625

925,426

Decrease in stock

71,997

2,208,067

(Increase)/decrease in trade and other debtors

(526,147

)

358,089

Increase/(decrease) in trade and other creditors

284,124

(253,922

)

Cash generated from operations

853,599

3,237,660

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 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

306,694

1,963,047

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

1,963,047

2,022,666