REGISTERED NUMBER: 01129631 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

APEX LIFT & ESCALATOR ENGINEERS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

M R Aldewereld

L M Brandhammar

S J Chesney

J A Clare

SECRETARY:

J A Clare

REGISTERED OFFICE:

Art's House

Banks Lane

Bexleyheath

Kent

DA6 7BH

REGISTERED NUMBER:

01129631 (England and Wales)

AUDITORS:

Sargeant Partnership Limited

Chartered Accountants

and Statutory Auditors

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

The Directors present their strategic report for the 12 months ending 31st December 2025.

OWNERSHIP

On 31st March 2022 all of the company's shares were acquired by Cibes Lift UK Ltd, a subsidiary of the Swedish lift group, Cibes Lift Holdings AB. The integration of the company into the Cibes AB group went well and Apex now benefits from strong organisational and administrative support.

REVIEW OF THE COMPANY'S BUSINESS

The Company had a challenging year with project delay's outside of Apex's control relating to the Building Safety Act, a change in legislation which is impact all construction projects related to residential buildings over 18 metres high, along with increased material and labour costs. Apex are focused on mitigating the impact of these changes.

Modernisation orders remained relatively buoyant towards the end of the year, generating a strong pipeline which will have a positive impact once operations commence on site in 2026.

The Company's reputation in the modernisation sector continues to be enhanced by the strength of our technical knowledge and resources. As such, we continued to be involved with internationally recognised companies and brands. In December, Apex were granted a Royal Warrant by His Majesty Kind Charles III, having previously been granted the Royal Warrant by the late Queen Elizabeth II - further recognition of the work Apex does for the Royal household.

The maintenance market remained price competitive and margin improvement has been a challenge. Lift repairs activity and profit margins remained very good, and this is expected to continue throughout 2026. The expectation is that the maintenance portfolio will also continue to increase in 2026 with new customers and retaining existing business.

As previous years, a strong balance sheet and close monitoring of working capital remain key financial objectives for the business.

KEY FINANCIAL INFORMATION

- Turnover decreased by £1,806k on 2024

- Gross Profit margins were 24.7% (2024 25.2%)

- Profit before tax was £153k (2024 £945k)

- Profit after Tax was £28k for the year (2024: £951k)

ON BEHALF OF THE BOARD:

S J Chesney - Director

12 June 2026

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

PRINCIPAL ACTIVITY

The Company continued to operate as lift and escalator engineers within the United Kingdom.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

L M Brandhammar has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

R E Shepherd - resigned 23 October 2025

K T Warnock - appointed 29 April 2025 - resigned 31 December 2025

S J Chesney - appointed 15 September 2025

J A Clare - appointed 31 December 2025

P T Lidstrom ceased to be a director after 31 December 2025 but prior to the date of this report.

PRICE RISK, CREDIT RISK, LIQUIDITY RISK AND CASH FLOW RISK

The company operates a treasury function which is responsible for managing the liquidity and interest risks associated with its operations.

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring it has sufficient liquid resources to meet the operating needs of the business.

The company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on its borrowings and loans.

FUTURE DEVELOPMENTS

The company is expected to operate within the scope of its existing activities for the foreseeable future.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

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

ON BEHALF OF THE BOARD:

S J Chesney - Director

12 June 2026

Opinion

We have audited the financial statements of Apex Lift & Escalator Engineers Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages three and four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

During the audit we identify and assess the risk of material misstatements of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks.

In identifying and assessing risks of material misstatement in respect of irregularities including, fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are (FRS 102 and Companies Act 2006) and compliance with the relevant direct and indirect tax regulation in the United Kingdom. In addition, the Company has to comply with laws and regulations relating to its operations, including health and safety and GDPR.

- We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries to the management and directors of known or suspected instances of fraud and non-compliance with laws and regulations. These enquiries are corroborated through follow up audit procedures including but not limited to a review of legal and professional costs and correspondence.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

a) Identifying the controls management has put in place to prevent and detect fraud;

b) Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

c) Challenging assumptions and judgements made by management in its significant accounting estimates; and

d) We designed our audit procedures to respond to the assessment of the risk of fraud through management override of controls. This includes the identification and testing of related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature, we completed detailed testing on stage of completion during our sales test.

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.

Gary Sargeant (Senior Statutory Auditor)

for and on behalf of Sargeant Partnership Limited

Chartered Accountants

and Statutory Auditors

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

12 June 2026

TURNOVER

23,925,445

24,891,976

Cost of sales

18,020,015

18,617,809

GROSS PROFIT

5,905,430

6,274,167

Administrative expenses

5,751,960

5,329,599

OPERATING PROFIT and

PROFIT BEFORE TAXATION

153,470

944,568

Tax on profit

5

125,868

(6,385

)

PROFIT FOR THE FINANCIAL YEAR

27,602

950,953

PROFIT FOR THE YEAR

27,602

950,953

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

27,602

950,953

FIXED ASSETS

Tangible assets

6

824,836

916,231

Investments

7

3

3

824,839

916,234

CURRENT ASSETS

Stocks

8

1,288,526

1,650,704

Debtors

9

9,055,512

9,121,389

Cash at bank

3,008,331

2,078,486

13,352,369

12,850,579

CREDITORS

Amounts falling due within one year

10

6,337,275

6,080,350

NET CURRENT ASSETS

7,015,094

6,770,229

TOTAL ASSETS LESS CURRENT LIABILITIES

7,839,933

7,686,463

PROVISIONS FOR LIABILITIES

13

154,241

28,373

NET ASSETS

7,685,692

7,658,090

CAPITAL AND RESERVES

Called up share capital

14

1,740

1,740

Share premium

15

5,981

5,981

Capital redemption reserve

15

800

800

Retained earnings

15

7,677,171

7,649,569

SHAREHOLDERS' FUNDS

7,685,692

7,658,090

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2026 and were signed on its behalf by:

S J Chesney - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

1,740

6,698,616

5,981

800

6,707,137

Changes in equity

Total comprehensive income

-

950,953

-

-

950,953

Balance at 31 December 2024

1,740

7,649,569

5,981

800

7,658,090

Changes in equity

Total comprehensive income

-

27,602

-

-

27,602

Balance at 31 December 2025

1,740

7,677,171

5,981

800

7,685,692

1.	STATUTORY INFORMATION

Apex Lift & Escalator Engineers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements

The company has taken exemption from preparing group accounts as it is included in the consolidated accounts of a larger group.

Critical accounting judgements and key sources of estimation uncertainty

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

Specifically, judgements and estimates are required in determining the useful economic lives of fixed assets, the valuation of long term contracts and the recoverability of trade debtors.

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

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sates within the company.

The company recognises revenue when:

- the amount of revenue can be reliably measured;

- it is probable that future economic benefits will flow to the entity;

- and specific criteria have been met for each of the company's activities.

Long term contracts

Revenue from installations is recognised over time using a cost-based input method. The percentage of completion method calculates the ongoing recognition of revenue and expenses related to longer-term projects based on the proportion of work completed. This method allows the company to recognise as income the percentage of the project which is completed in the correct accounting period.

Revenue from repairs and maintenance is recognised when the job is complete and relates to the period the work is completed.

Tangible fixed assets

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

Short leasehold

-

Straight line over 4 years and Over period of lease 10 years

Plant and machinery

-

20% per annum on cost and Straight line over 4 years

Motor vehicles

-

33% per annum on cost and 25% per annum on cost

Stocks

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

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

Financial instruments

Classification

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement

All financial assets are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (Jess impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial Instruments where it is a requirement to continue recording them at fair value through profit and loss.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments in dormant subsidiaries are stated at cost less diminution in value.

Impairment

Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when 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 of the asset have been affected.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the contract.

Trade and other creditors

Trade and other creditors are recognised Initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be Immaterial. In such cases creditors are stated at transaction price.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

7,935,710

7,799,265

Social security costs

959,720

818,747

Other pension costs

196,627

198,018

9,092,057

8,816,030

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

2025

2024

154

165

2025

2024

£

£

Directors' remuneration

147,166

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

577,956

578,115

Depreciation - owned assets

119,395

67,501

Auditors' remuneration

28,594

29,251

5.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2025

2024

£

£

Current tax:

Prior period corporation tax

-

(6,385

)

Deferred tax

125,868

-

Tax on profit

125,868

(6,385

)

Reconciliation of total tax charge/(credit) included in profit and loss

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

2025

2024

£

£

Profit before tax

153,470

944,568

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

38,368

236,142

Effects of:

Expenses not deductible for tax purposes

17,772

6,179

Capital allowances in excess of depreciation

-

(1,051

)

Depreciation in excess of capital allowances

21,203

-

Adjustments to tax charge in respect of previous periods

-

(6,385

)

Group loss relief

(77,343

)

(241,270

)

Deferred tax charge

125,868

-

Total tax charge/(credit)

125,868

(6,385

)

6.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

1,011,722

648,479

50,478

1,710,679

Additions

7,450

15,300

5,250

28,000

At 31 December 2025

1,019,172

663,779

55,728

1,738,679

DEPRECIATION

At 1 January 2025

145,456

611,424

37,568

794,448

Charge for year

91,021

22,392

5,982

119,395

At 31 December 2025

236,477

633,816

43,550

913,843

NET BOOK VALUE

At 31 December 2025

782,695

29,963

12,178

824,836

At 31 December 2024

866,266

37,055

12,910

916,231

7.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2025

and 31 December 2025

3

NET BOOK VALUE

At 31 December 2025

3

At 31 December 2024

3

8.

STOCKS

2025

2024

£

£

Stocks

207,699

137,654

Work-in-progress

1,080,827

1,513,050

1,288,526

1,650,704

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,492,197

3,670,570

Amounts owed by group undertakings

110,583

110,583

Amounts recoverable on contract

5,873,116

4,887,759

Prepayments

579,616

452,477

9,055,512

9,121,389

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 11)

338,382

312,540

Trade creditors

1,800,104

1,766,185

Social security and other taxes

230,312

233,265

VAT

158,452

692,741

Accruals and deferred income

3,810,025

3,075,619

6,337,275

6,080,350

11.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

338,382

312,540

12.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

520,752

514,955

Between one and five years

1,287,418

1,303,866

In more than five years

751,108

1,024,408

2,559,278

2,843,229

13.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

154,241

28,373

Deferred

tax

£

Balance at 1 January 2025

28,373

Provided during year

125,868

Balance at 31 December 2025

154,241

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,200

A Ordinary

£1

1,200

1,200

400

B Ordinary Redeemable

10p

40

40

5,000

C Ordinary Redeemable

10p

500

500

1,740

1,740