The director presents the strategic report for the year ended 31 December 2025.

The principal activity of the Group continued to be that of precision engineering in the aeronautical industry. The Group manufactures parts/components assemblies and sub-assemblies predominantly for the aerospace industry (aerostructures). The Group's main customers continue to be tier 1 and tier 2 aerospace companies.

The company acts purely as a holding company for the Group.

The Group continues to maintain its excellent on time and on quality delivery record with its customers. The Group operates in a niche market. The directors believe that they are in a strong position to benefit from future growth in the aerospace industry, from both current and new customers, and are actively looking to grow its customer base.

The current strategy is focused on growth and in key areas such as building strategic partnerships with key customers, growing the core business, and growing the adjacent opportunities. Pre-tax profit reached £2.52 million (2024 - £2.69 million). The balance sheet remains strong with net assets of £26.99 million (2024 - £25.14 million) as the Group continues to build on the distributable reserves.

The principal risks and uncertainties facing the Group are described below:

Financial risk

The Group purchases are subject to changing market prices due to the global economic climate. The Group is exposed to foreign exchange risk arising from certain suppliers and customers trading in foreign currencies. The Group manages the sales and purchases to reduce this volatility. The Group’s financial risk management objective is to ensure that enough working capital is generated. This is achieved by careful management of cash balances, which has ensured that no external funding has been required.

Competitive and Customer risk

The Group operates in a niche market where there are few competitors. The general commercial aerospace supply chain is under pressure due to multiple factors including persistent shortages, rising costs, and geopolitical instability. This growth is putting pressure on Original Equipment Manufacturers (OEM’s) to ensure their supply chains can keep pace without compromising quality or cost efficiency. The reliance on globalised supply chains, where raw materials and components are sourced from low-cost countries, has made the industry more vulnerable to disruptions. There is also a focus on localising production to increase resilience and reduce reliance on single suppliers.

To manage the risk the Group continues to strengthen its relationship with all its customers and is actively seeking to secure new businesses. The Group’s reputation for competitive pricing, delivery performance, with high quality and good customer focus are key components to mitigating this risk.

Geopolitical Instability

Increased global instability, including geopolitical tensions and conflicts, is disrupting supply chains and making it harder to secure reliable sources of raw materials and components. There is still uncertainty around the ongoing conflict in Ukraine. The Group has no Russian/Ukrainian or other conflict zone customers or suppliers. The Iran war has severely impacted UK energy prices triggering a 13% surge in the domestic energy price cap and increases in fuel costs due to the blockage of the Strait of Hormuz shipping route. Apart from driving significant fuel and energy cost escalation, the effect of sanctions in those conflict zones has been minimal on the Group’s ability to maintain production. To manage this risk the group is looking forward to fixing pricing deals on energy supply services.

Skills and Labour

The industry is facing a shortage of skilled labour, making it difficult to find and retain qualified workers. An aging workforce and high turnover rates are further exacerbating the talent shortage problem. To manage the risk the Group runs an apprenticeship program in conjunction with the local college and is engaging with the college for other mutually beneficial opportunities.

Sustainability/Environmental Challenges

The industry is facing increasing pressure to reduce its carbon footprint and adopt sustainable practices throughout its supply chain. The Group is employing sustainable practices to adhere to environmental, social and governance. The Group is committed to protecting our local environment and minimising the impact of our activities on the wider environment and is now assessing its full scope of 1,2 & 3 CO2 emission categories which are independently assessed and certified.

The Group has shown a slight improvement in its margin and overall performance indicators have been reasonable.

The Group does not have a history of bad debts or provision for doubtful debts.

The Group Stock days are in line with production and demand.

The Group trade creditor days have dropped significantly due to improvement in cash flow and drop in overall purchases as the group has been utilising stocks items held for production.

The Group remains financially sound and has sufficient resources to settle any liabilities as they fall due in the foreseeable future.

Future developments

The group focus will continue to meet sales targets, strengthen its relationship with all its customers and is actively seeking to secure new business. The acquisition by Belrise UK Holdings Limited will strengthen the group's position in the aerospace industry. There will be capacity expansion and expected cost efficiencies.

Post balance sheet events

On 18 March 2026, the shareholders entered into a share purchase agreement to sell their shares to Belrise UK Holdings Limited. The transaction was successfully completed on 04 April 2026.

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

The director presents his annual report and financial statements for the year ended 31 December 2025.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The profit for the year, after taxation, amounted to £1.85m (2024 - £2.0m).

Final ordinary dividends were paid amounting to NIL (2024 - £NIL).

In accordance with the company's articles, a resolution proposing that SCC Chartered Accountants Ltd be reappointed as auditor of the group will be put at a General Meeting.

The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law, the director has prepared the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and parent company, and of the profit or loss of the group for that period.

In preparing these financial statements, the director is required to:

• select suitable accounting policies and then apply them consistently;

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

• state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

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

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

The director has prepared a separate Strategic Report incorporating post balance sheet events and future developments.

We have audited the financial statements of Chester Hall Precision Engineering Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the consolidated statement of comprehensive income, the consolidated statement of financial position, the company statement of financial position, the consolidated statement of changes in equity, the company statement of changes in equity, the consolidated statement of cash flows and notes to the financial statements, including 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 the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 director's 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 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• The information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The strategic report and the director's report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report.

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

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

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

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

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

As explained more fully in the director's responsibilities statement, the director is 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 director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the group's and 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 director either intends to liquidate the group or parent company or to cease operations, or has no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these 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 the principal risks of non-compliance with laws and regulations related to quality regulations, health and safety law and employment law. We also considered those laws that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Financial Reporting Standards.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks related to fraudulent financial reporting and management bias in accounting estimates. We communicated the identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. Audit procedures performed by the auditors included, but were no limited to:

• Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

• Reviewing key correspondence with external legal advisors;

• Challenging assumptions and judgements made by management in their significant accounting estimates; and

• Identifying and testing of unusual journal entries

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

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

As permitted by S408 Companies Act 2006, the company has not presented its own income statement and related notes. The company's profit/(loss) for the year was (£5,845) (2024 - (£5,182)).

Chester Hall Precision Engineering Holdings Limited (the Company), registered number 12283440, is a private Company limited by shares incorporated in England, United Kingdom. The trading address is Hurricane Way, Wickford Business Park, Essex, SS11 8YB, and address of the registered office is 24 Old Bond Street, London, W1S 4AP.

The Company and its subsidiaries (together the 'Group') principal activities are engineering in the aeronautical industry.

Merger accounting has been applied as explained further in note 1.2.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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

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

The financial statements have been prepared on a going concern basis. In assessing the appropriateness of this basis, the director has considered the group's trading performance, cash flow forecasts and expected funding requirements for a period of at least twelve months from the date of approval of these financial statements.

Following the year end, the group was acquired by Belrise UK Holdings Limited. The director has considered the impact of the post year-end transactions arising from the acquisition and is satisfied that they do not affect the group's ability to continue as a going concern.

Based on this assessment, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future and to meet its liabilities as they fall due. Accordingly, the financial statements have been prepared on the going concern basis.

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in an LLP and an unlimited partnership are remeasured to market value at each balance sheet date, Gains where losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

A profit share from each of these investments is received each year and is recognised in the statement of comprehensive income.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in the group statement of comprehensive income.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and financial institutions. Cash equivalents are highly liquid investments that mature in more than a year from the date of acquisition and are readily convertible to known amounts of cash with insignificant risk of change in value.

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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

Basic financial liabilities, including trade and other payables, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

The contributions are recognised as an expense in the Group Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.

Exchange gains and losses are recognised in the Statement of Comprehensive Income.

In the application of the group’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The annual depreciation charge is a key accounting estimate and is calculated based on the entity's assessment of useful economic lives for each category of asset and the residual value of the fixed assets. These are both reviewed annually and updates are made if required.

The average monthly number of persons (including directors) employed by the group and company during the year was:

Staff costs including directors' remuneration comprised:

During the year retirement benefits were accruing to 2 directors (2024 - 2) in respect of defined contribution pension schemes.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

As at 31 December 2025 the group had utilised losses of £5,845 (2024 - £5,182). A deferred tax asset has not been recognised in the financial statements.

Factors that may affect future tax charges

From 1 April 2023, the main rate of corporation tax rose to 25% for companies with profits over £250,000. For companies with profits of £50,000 or less, they will pay corporation tax at the small profits rate of 19%. Where a company's profits fall between £50,000 and £250,000, they will pay corporation tax at the main rate reduced by marginal relief. The upper and lower limits will be proportionally reduced for short accounting periods and where they are associated companies.

Details of the company's subsidiaries at 31 December 2025 are as follows:

The following are the major deferred tax liabilities and assets recognised by the group and company:

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £77,851 (2024 - £79,409). The pension creditor at the year end amounted to Nil (2024 - £2,145).

Profit and loss account

The profit and loss account represents distributable cumulative profits and losses net of dividends and other adjustments.

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

There were no disclosable related party transactions during either the current or prior period.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit/(loss) before tax and dividends of the Company for the year was (£5,845) (2024 - (£5,182)).

Up to and including 03 April 2026, the ultimate controlling parties of the group were Mr A. B. Brown and Mrs C. A. Brown.

From 04 April 2026, the group's immediate parent undertaking and immediate controlling party became Belrise UK Holdings Limited and the ultimate controlling party became Mr S.S. Badve.

On 18 March 2026, the shareholders entered into a share purchase agreement to sell their shares to Belrise UK Holdings Limited. The transaction was successfully completed on 04 April 2026, at which point Belrise UK Holdings Limited became the immediate parent undertaking. This is a non-adjusting event after the reporting period and has had no effect on the amounts recognised in the financial statements for the year ended 31 December 2025.