Mark One Hire Limited Company accounts

COMPANY REGISTRATION NUMBER: 02310054

Mark One Hire Limited

Financial Statements

31 December 2025

Mark One Hire Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Statement of income and retained earnings	11

Statement of financial position	12

Notes to the financial statements	13

Mark One Hire Limited

Officers and Professional Advisers

The board of directors	Mr A Ball
	Mr M T Newell
	Mr C L Potter

Company secretary	Mr M T Newell

Registered office	16 Purdeys Way
	Rochford
	Essex
	England
	SS4 1ND

Auditor	Edmund Carr LLP
	Chartered Accountants & Statutory Auditor
	146 New London Road
	Chelmsford
	Essex
	CM2 0AW

Bankers	Barclays
	Barclays Bank PLC
	One Churchill Place
	London
	E14 5HP

Mark One Hire Limited

Strategic Report

Year ended 31 December 2025

Mark One Hire Limited is part of the Mark One Group Limited, whose core business continues to be the hire of a wide range of equipment to the construction industry, including small tools, plant and powered access equipment, alongside the provision of industry-specific training courses . The Company's continued growth in turnover is being driven predominantly by the hire of larger plant and powered access equipment. In contrast, the small tools and training divisions have remained relatively stagnant, with some areas experiencing a decline as a result of current market conditions and changes in demand. The Company will continue to focus on expanding its plant and powered access fleet, with future investment decisions being informed by market demand and analysis of lost hire opportunities. This will allow the business to identify gaps within its existing fleet and invest in equipment where there is a clear opportunity to increase utilisation, turnover and profitability. Although the Company has achieved a positive increase in turnover compared with the previous year, this has not translated into a corresponding increase in profit. Management is therefore implementing a number of measures to improve cost control, reduce unnecessary expenditure and increase operational efficiency. In addition, a new marketing campaign is being introduced to strengthen customer acquisition and retention, while the introduction of Hire Secure will provide an additional source of recurring revenue. The Company has also incurred significant expenditure during the period as a result of strategic investment in its property portfolio, with the aim of reducing future rental costs, as well as investment in new equipment lines in response to changing market trends. While these investments have impacted short-term profitability, they are intended to strengthen the Company's long-term position, reduce overheads and provide a platform for future growth and improved profitability. Sales for the twelve months to 31 December 2025 were £6,053,096 compared to £5,854,710 for the twelve months to 31 December 2024, representing an increase of 3.4%. Cost of sales have increased by 8% and the company has achieved a gross profit of 47% for the year, compared to 49% in previous year. Administration costs have increased in the year and as a result, the company has achieved a net profit before taxation of £687,587, compared to a net profit before taxation of £894,120 in the previous year. The directors recognise that the business continues to operate in an environment subject to a number of risks and uncertainties, including changes in market conditions, customer demand and wider economic factors. While future development plans may be affected by unforeseen events outside the Company's control, the directors will continue to adopt a flexible approach, regularly reviewing the performance of each area of the business and responding to changes in the industries and markets in which the business operates. Overall, the Company remains focused on sustainable growth, improving profitability and strengthening its market position through targeted investment, tighter cost control and continued development of its plant and powered access offering.

This report was approved by the board of directors on 11 September 2026 and signed on behalf of the board by:

Mr M T Newell

Director

Registered office:

16 Purdeys Way

Rochford

Essex

England

SS4 1ND

Mark One Hire Limited

Directors' Report

Year ended 31 December 2025

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

Directors

The directors who served the company during the year were as follows:

Mr A Ball
Mr M T Newell
Mr C L Potter

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Disclosure of information in the strategic report

In accordance with Section 414C(11) of the Companies Act 2006, the company has included a Strategic Report within the financial statements, outlining the performance of the company along with a description of the principal risks and uncertainties facing the company.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report 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 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 judgments 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The auditor is deemed to have been appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 11 September 2026 and signed on behalf of the board by:

Mr M T Newell

Director

Registered office:

16 Purdeys Way

Rochford

Essex

England

SS4 1ND

Mark One Hire Limited

Independent Auditor's Report to the Members of Mark One Hire Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Mark One Hire Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, statement of financial position and the related notes, 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 FRS 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 December 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 directors' 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, 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 directors' responsibilities statement, 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 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 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.

Auditor's 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 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. 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: 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 focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations for the company, including the Companies Act 2006, tax 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. - Identified laws and regulations were communicated with the audit team regularly and the team remained alert of instances of non-compliance throughout the audit. 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. - Considering the internal controls in place to mitigate the risks of fraud and non-compliance with laws and regulations To address the risk of fraud through management bias and override of controls, we; - Performed analytical procedures to identify any unusual or unexpected relationships - Tested journal entries to identify unusual transactions - Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. - 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 Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

S C Drain

(Senior Statutory Auditor)

For and on behalf of

Edmund Carr LLP

Chartered Accountants & Statutory Auditor

146 New London Road

Chelmsford

Essex

CM2 0AW

14 September 2026

Mark One Hire Limited

Statement of Income and Retained Earnings

Year ended 31 December 2025

		2025	2024
Note		£	£
Turnover	4	6,053,096	5,854,710

Cost of sales	3,219,834	2,982,617
	------------	------------
Gross profit	2,833,262	2,872,093

Administrative expenses		2,093,786	1,936,229
Other operating income	5	55,900	–
		------------	------------
Operating profit	6	795,376	935,864

Other interest receivable and similar income	10	15,332	15,241
Interest payable and similar expenses	11	123,121	56,985
		------------	------------
Profit before taxation		687,587	894,120

Tax on profit	12	147,349	228,735
		---------	---------
Profit for the financial year and total comprehensive income		540,238	665,385
		---------	---------

Dividends paid and payable	13	( 230,866)	( 192,024)

Retained earnings at the start of the year	5,170,585	4,697,224
	------------	------------
Retained earnings at the end of the year	5,479,957	5,170,585
	------------	------------

All the activities of the company are from continuing operations.

Mark One Hire Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	14		5,453,196	3,435,192

Current assets

Stocks	15	56,308	74,264
Debtors	16	3,250,080	3,396,408
Cash at bank and in hand		655,912	742,999
		------------	------------
		3,962,300	4,213,671

Creditors: amounts falling due within one year	17	1,334,684		1,279,392
		------------		------------
Net current assets			2,627,616	2,934,279
			------------	------------
Total assets less current liabilities			8,080,812	6,369,471

Creditors: amounts falling due after more than one year	18		1,540,811	256,732

Provisions	20	845,473	727,583
		------------	------------
Net assets		5,694,528	5,385,156
		------------	------------

Capital and reserves

Called up share capital	23	54,747	54,747
Share premium account	24	159,824	159,824
Profit and loss account	24	5,479,957	5,170,585
		------------	------------
Shareholders funds		5,694,528	5,385,156
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 11 September 2026 , and are signed on behalf of the board by:

Mr A Ball	Mr M T Newell
Director	Director

Mr C L Potter
Director

Company registration number: 02310054

Mark One Hire Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Purdeys Way, Rochford, Essex, SS4 1ND, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Mark One Group Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Long leasehold property	-	Straight Line over lease term
Plant and machinery	-	20% Reducing balance / 33% Straight line
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

	Computer equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 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 the Statement of Income and Retained Earnings. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

Defined contribution plans

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays a fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they full due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	235,713	295,946
Rendering of services	5,817,383	5,558,764
	------------	------------
	6,053,096	5,854,710
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Rental income	55,900	–
	--------	----

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	946,715	879,517
Gains on disposal of tangible assets	( 82,767)	( 163,115)
Impairment of trade debtors	61,767	3,691
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	11,150	9,700
	--------	-------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	57	58
Administrative staff	17	12
Management staff	3	3
	----	----
	77	73
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,548,092	2,303,588
Social security costs	18,271	20,651
Other pension costs	49,133	43,144
	------------	------------
	2,615,496	2,367,383
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	162,485	199,024
	---------	---------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	15,332	15,241
	--------	--------

11. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	42,678	3,316
Interest on obligations under finance leases and hire purchase contracts	55,624	53,111
Other interest payable and similar charges	24,819	558
	---------	--------
	123,121	56,985
	---------	--------

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	29,459	154,620

Deferred tax:

Origination and reversal of timing differences	117,890	74,115
	---------	---------
Tax on profit	147,349	228,735
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	687,587	894,120
	---------	---------
Profit on ordinary activities by rate of tax	171,897	223,530
Effect of expenses not deductible for tax purposes	307	446
Effect of capital allowances and depreciation	–	4,740
Effect of profit on disposal of fixed assets	( 20,693)	–
Short term timing differences	( 4,162)	19
	---------	---------
Tax on profit	147,349	228,735
	---------	---------

13. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	230,866	192,024
	---------	---------

14. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2025	528,990	114,618	6,592,498	667,666	1,528,571	9,432,343
Additions	1,458,242	–	1,220,610	90,313	307,715	3,076,880
Disposals	–	–	( 609,158)	–	( 208,920)	( 818,078)
	------------	---------	------------	---------	------------	-------------
At 31 Dec 2025	1,987,232	114,618	7,203,950	757,979	1,627,366	11,691,145
	------------	---------	------------	---------	------------	-------------
Depreciation
At 1 Jan 2025	74,913	102,861	4,199,170	530,554	1,089,653	5,997,151
Charge for the year	32,348	5,509	736,100	32,105	140,653	946,715
Disposals	–	–	( 513,453)	–	( 192,464)	( 705,917)
	------------	---------	------------	---------	------------	-------------
At 31 Dec 2025	107,261	108,370	4,421,817	562,659	1,037,842	6,237,949
	------------	---------	------------	---------	------------	-------------
Carrying amount
At 31 Dec 2025	1,879,971	6,248	2,782,133	195,320	589,524	5,453,196
	------------	---------	------------	---------	------------	-------------
At 31 Dec 2024	454,077	11,757	2,393,328	137,112	438,918	3,435,192
	------------	---------	------------	---------	------------	-------------

Tangible assets held at valuation

Freehold property was deemed to be shown at fair value at the year end by the directors. The historical cost of the freehold property was £ 1,987,232 .

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 December 2025	707,727	163,788	871,515
	---------	---------	---------
At 31 December 2024	930,810	218,559	1,149,369
	---------	---------	------------

15. Stocks

	2025	2024
	£	£
Consumables	56,308	74,264
	--------	--------

16. Debtors

	2025	2024
	£	£
Trade debtors	629,565	754,360
Amounts owed by group undertakings	2,265,773	2,383,987
Prepayments and accrued income	113,316	123,381
Corporation tax repayable	70,541	–
Other debtors	170,885	134,680
	------------	------------
	3,250,080	3,396,408
	------------	------------

17. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	59,816	28,447
Trade creditors	149,428	88,783
Accruals and deferred income	35,279	172,592
Corporation tax	–	124,620
Social security and other taxes	215,631	294,909
Obligations under finance leases and hire purchase contracts	410,840	439,156
Director loan accounts	429,706	113,228
Pension creditor	12,701	10,441
Other creditors	21,283	7,216
	------------	------------
	1,334,684	1,279,392
	------------	------------

The mortgage held with Barclays is secured by a legal charge over a freehold property asset. Barclays Bank Plc holds a debenture over the assets of Mark One Hire Limited. The mortgage held with NatWest is secured by a legal fixed charge over a freehold property asset.

18. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	973,185	49,573
Obligations under finance leases and hire purchase contracts	567,626	207,159
	------------	---------
	1,540,811	256,732
	------------	---------

19. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	410,840	439,156
Later than 1 year and not later than 5 years	567,626	207,159
	---------	---------
	978,466	646,315
	---------	---------

20. Provisions

	Deferred tax (note 21)
	£
At 1 January 2025	727,583
Additions	117,890
	---------
At 31 December 2025	845,473
	---------

21. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 20)	845,473	727,583
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	845,473	727,583
	---------	---------

22. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 49,133 (2024: £ 43,144 ).

23. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	48,000	48,000	48,000	48,000
Ordinary B shares of £ 1 each	4,747	4,747	4,747	4,747
Ordinary C shares of £ 1 each	2,000	2,000	2,000	2,000
	--------	--------	--------	--------
	54,747	54,747	54,747	54,747
	--------	--------	--------	--------

24. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.

25. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	52,708	113,000
Later than 1 year and not later than 5 years	–	52,708
	--------	---------
	52,708	165,708
	--------	---------

26. Directors' advances, credits and guarantees

At the balance sheet date the company was owed £ 82,131 (2024: £ 77,119 ) by a director of the company. No interest is payable on this loan. This balance is included within other debtors.

27. Related party transactions

At the balance sheet date the company owed £ 429,706 (2024: £ 113,228 ) to two of the directors of the company. No interest is payable on these loans. The balance is included within creditors. In the year the company was charged rent of £ 30,000 (2024: £ 30,000 ) from a company in which the directors of Mark One Hire Ltd are also directors. At the year end the company was owed £nil (2024: £nil) from this company. In the year the company was charged rent of £162,000 (2024: £95,000) from a trust in which the directors of Mark One Hire Ltd have an interest. As at 31 December 2024 there was a rent accrual of £150,000 relating to a shortfall in rent from previous years following a rent review by the investment manager of the trust. However, since the date of signing of the 31 December 2024 accounts, additional advice was issued by the investment manager showing the accrual was not required. This accrual has been reversed in the financial statements for the year ended 31 December 2025 and the amount paid to the trust is now due back to the company. The total of the amount paid to the trust was £32,500 and this is shown within other debtors. At the year end the company was owed £nil (2024: £nil) from this company. In the year the company incurred costs of £2,177 (2024: £2,537) from a company in which a director of Mark One Hire Ltd is also a director. At the year end Mark One Hire Ltd owed this company £577 (2024: £475). The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transaction with group companies.

28. Controlling party

The parent undertaking and ultimate parent company is Mark One Group Limited , a company incorporated in England and Wales. The registered office address is 16 Purdeys Way, Rochford, Essex, SS4 1ND .