REGISTERED NUMBER: 15280930 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

TJC PLANT HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

19

DIRECTORS:

Mr D J White

Mr R A White

REGISTERED OFFICE:

15 High Street

Brackley

Northamptonshire

NN137DH

REGISTERED NUMBER:

15280930 (England and Wales)

AUDITORS:

Blencowes

Chartered Accountants and Statutory Auditors

15 High Street

Brackley

Northamptonshire

NN13 7DH

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

REVIEW OF BUSINESS

The Group turnover £25.2 million (2024 £9.7 million) in the period to 31 December 2025. The Group is continuing to build up relationships with new customers and suppliers with the aim of expanding in it's market share.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors monitor the group's principal risks and uncertainties through regular management reviews. Key risks include:

Economic and Market Risk

A downturn in construction activity or changes in government infrastructure spending could affect demand. The group mitigates this by diversifying its client base and maintaining a flexible rental model.

Asset Depreciation and Residual Value Risk

As a plant hire group, the value of owned equipment is exposed to market fluctuations. The business manages this through careful asset management and regular fleet replacement cycles.

Health & Safety and Compliance

Operating heavy equipment carries inherent risks. The group has robust training and compliance procedures to reduce risk and maintain health and safety standards.

Interest Rate and Financing Risk

The group utilizes financing for asset acquisition. Rising interest rates may increase costs. Finance terms are regularly reviewed to optimise debt structure.

Credit risk

Credit risk is tightly controlled as machines are not usually released to the customer until paid for and most are financed by an external funder, net of any deposit paid by the customer. Customer credit risk is addressed through a mixture of credit worthiness checks and a proactive approach to cash collection.

Liquidity risk

The group ensures sufficient liquidity is available to meet foreseeable needs through regular cash flow forecasting and negotiation of appropriate financing arrangements.

GOING CONCERN

After reviewing the strong performance reported in financial statements, the available management information to date and considering current and future developments and principal risks and uncertainties. The Directors have a reasonable expectation that the group has adequate resources to continue in operational existence over a period of at least twelve months from the date of approval of these financial statements and have not identified a material uncertainty in this regard. Accordingly, they continue to adopt the going concern basis in preparing these Financial Statements.

ON BEHALF OF THE BOARD:

Mr D J White - Director

24 September 2026

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the supply and hire of motor vehicle plant, equipment and related services.

DIVIDENDS

Dividends distributed for the year ended 31 December 2025 was £9,000.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

Mr D J White

Mr R A White

DIRECTORS' QUALIFYING THIRD PARTY INDEMNITY PROVISION

The company has granted an indemnity to one of more of its directors against liability in respect of proceedings brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the directors report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditor, Blencowes, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr D J White - Director

24 September 2026

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 and of the group's profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined below to detect material misstatements in respect of irregularities, including fraud.

Non-compliance with laws and regulations

We consider the risk of non-compliance with laws and regulations relevant to the Group's operations. In particular those relating to health and safety legislation, environmental obligations, employment regulations and trade compliance in the sale and distribution of machinery.

The following are the mechanisms used to detect irregularities:

-

Our understanding of the Group and the industry in which it operates;

-

Understand the compliance requirements for the above-mentioned regulations and ensure the Group has adhered to them;

-

Discussion with management and those charged with governance;

-

Obtaining and understanding of the Group's policies and procedures regarding compliance with laws and regulations.

The Group is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigation. The needs to consider the significant laws and regulations to be UK GAAP and conforms to, Companies Act 2006, UK tax legislation and UK employment legislation.

Our procedures in respect of the above included:

-

Enquiry with those charged with governance for any instances of non-compliance with laws and regulations;

-

Review of correspondence with tax authorities for any instances of non-compliance with laws and regulations;

-

Review of financial statement disclosures and agreeing to supporting documentation;

-

Review of legal expenditure accounts to understand the nature of expenditure incurred.

Fraud and money laundering

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

-

Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;

-

Obtaining an understanding of the Group's policies and procedures relating to:

(a)

Detecting and responding to the risks of fraud and

(b)

Internal controls established to mitigate risks related to fraud.

-

Discussion amongst the engagement team as to how and where fraud might occur in the financial statements;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

Considering remuneration incentive schemes and performance targets and the related financial statement areas impacted by these.

Based on our risk assessment, we considered the areas most susceptible to fraud to be management override, revenue recognition relating to plant sales and service contracts, the valuation and existence of inventory and assets held for lease.

Our procedures in respect of the above included:

-

Testing a sample of journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation;

-

Assessing significant estimates made by management for bias. Significant estimates include sales return provisions and inventory provisions;

-

Testing a sample of revenue transactions for existence of revenue transactions, considering whether the revenue recognition policies adopted by the Group comply with accounting standards as well as testing a sample of revenue transactions to third party evidence of delivery of goods to the customer;

-

Physical review of stocks and equipment held by the Group to confirm existence.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members who were all deemed to have appropriate competence and capabilities and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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

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.

Ashley Painter ACA FCCA MAAT Senior Statutory Auditor

for and on behalf of Blencowe Blencowes

Chartered Accountants and Statutory Auditors

15 High Street

Brackley

Northamptonshire

NN13 7DH

24 September 2026

TURNOVER

25,237,417

9,649,906

Cost of sales

21,871,290

7,770,954

GROSS PROFIT

3,366,127

1,878,952

Administrative expenses

1,902,967

1,245,821

1,463,160

633,131

Other operating income

7,239

15,659

OPERATING PROFIT

5

1,470,399

648,790

Interest receivable and similar income

45,258

18,431

1,515,657

667,221

Interest payable and similar expenses

6

262,270

115,197

PROFIT BEFORE TAXATION

1,253,387

552,024

Tax on profit

7

233,743

161,712

PROFIT FOR THE FINANCIAL YEAR

1,019,644

390,312

Profit attributable to:

Owners of the parent

827,465

355,239

Non-controlling interests

192,179

35,073

1,019,644

390,312

PROFIT FOR THE YEAR

1,019,644

390,312

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,019,644

390,312

Total comprehensive income attributable to:

Owners of the parent

827,465

355,239

Non-controlling interests

192,179

35,073

1,019,644

390,312

FIXED ASSETS

Intangible assets

10

(981,584

)

(1,227,545

)

Tangible assets

11

4,170,970

4,789,326

Investments

12

-

-

Investment property

13

-

-

3,189,386

3,561,781

CURRENT ASSETS

Stocks

14

3,079,012

495,529

Debtors

15

1,442,195

886,342

Cash at bank

1,909,901

1,149,622

6,431,108

2,531,493

CREDITORS

Amounts falling due within one year

16

(5,018,875

)

(2,447,870

)

NET CURRENT ASSETS

1,412,233

83,623

TOTAL ASSETS LESS CURRENT LIABILITIES

4,601,619

3,645,404

CREDITORS

Amounts falling due after more than one year

17

(1,460,144

)

(1,679,949

)

PROVISIONS FOR LIABILITIES

21

(948,368

)

(782,992

)

NET ASSETS

2,193,107

1,182,463

CAPITAL AND RESERVES

Called up share capital

22

200

200

Retained earnings

1,267,204

321,939

SHAREHOLDERS' FUNDS

1,267,404

322,139

NON-CONTROLLING INTERESTS

925,703

860,324

TOTAL EQUITY

2,193,107

1,182,463

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2026 and were signed on its behalf by:

Mr D J White - Director

Mr R A White - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

20,063

17,563

Investments

12

1,057,170

1,057,170

Investment property

13

1,452,703

1,091,027

2,529,936

2,165,760

CURRENT ASSETS

Debtors

15

17,429

20,611

Cash at bank

124,107

17,266

141,536

37,877

CREDITORS

Amounts falling due within one year

16

(1,369,212

)

(1,604,487

)

NET CURRENT LIABILITIES

(1,227,676

)

(1,566,610

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,302,260

599,150

CREDITORS

Amounts falling due after more than one year

17

(774,553

)

(574,612

)

PROVISIONS FOR LIABILITIES

21

(1,725

)

(1,725

)

NET ASSETS

525,982

22,813

CAPITAL AND RESERVES

Called up share capital

22

200

200

Retained earnings

525,782

22,613

SHAREHOLDERS' FUNDS

525,982

22,813

Company's profit for the financial year

507,669

55,913

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2026 and were signed on its behalf by:

Mr D J White - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Changes in equity

Profit for the period

-

355,239

355,239

35,073

390,312

Total comprehensive income

-

355,239

355,239

35,073

390,312

Dividends

-

(33,300

)

(33,300

)

(21,375

)

(54,675

)

Issue of share capital

200

-

200

-

200

200

321,939

322,139

13,698

335,837

Non-controlling interest arising on business combination

-

-

-

846,626

846,626

Balance at 31 December 2024

200

321,939

322,139

860,324

1,182,463

Changes in equity

Profit for the year

-

827,465

827,465

192,179

1,019,644

Total comprehensive income

-

827,465

827,465

192,179

1,019,644

Dividends

-

(4,500

)

(4,500

)

(4,500

)

(9,000

)

Adjustment arising from

disproportionate dividend

-

122,300

122,300

(122,300

)

-

Balance at 31 December 2025

200

1,267,204

1,267,404

925,703

2,193,107

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

200

-

200

Dividends

-

(33,300

)

(33,300

)

Total comprehensive income

-

55,913

55,913

Balance at 31 December 2024

200

22,613

22,813

Changes in equity

Dividends

-

(4,500

)

(4,500

)

Total comprehensive income

-

507,669

507,669

Balance at 31 December 2025

200

525,782

525,982

Cash flows from operating activities

Cash generated from operations

1

2,225,642

1,329,481

Interest paid

(104,293

)

(39,819

)

Interest element of hire purchase payments paid

(157,977

)

(75,378

)

Tax paid

(157,148

)

(35,447

)

Net cash from operating activities

1,806,224

1,178,837

Cash flows from investing activities

Purchase of tangible fixed assets

(1,330,820

)

(1,514,603

)

Sale of tangible fixed assets

1,555,804

440,817

Purchase of subsidiaries

-

279,042

Interest received

45,258

18,431

Net cash from investing activities

270,242

(776,313

)

Cash flows from financing activities

New loans in year

250,000

630,000

Loan repayments in year

(32,059

)

(14,083

)

Capital repayments in year

(1,356,501

)

(822,045

)

Amount introduced by directors

-

1,007,701

Amount withdrawn by directors

(168,627

)

-

Share issue

-

200

Equity dividends paid

(4,500

)

(33,300

)

Dividends paid to minority interests

(4,500

)

(21,375

)

Net cash from financing activities

(1,316,187

)

747,098

Increase in cash and cash equivalents

760,279

1,149,622

Cash and cash equivalents at beginning of year

2

1,149,622

-

Cash and cash equivalents at end of year

2

1,909,901

1,149,622

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

13.11.23

Year Ended

to

31.12.25

31.12.24

£

£

Profit before taxation

1,253,387

552,024

Depreciation charges

878,663

698,272

Profit on disposal of fixed assets

(25,741

)

(7,332

)

Amortisation charges

(245,961

)

(245,961

)

Warranty provision

222,040

133,570

Impairment

160,250

-

Finance costs

262,270

115,197

Finance income

(45,258

)

(18,431

)

2,459,650

1,227,339

(Increase)/decrease in stocks

(2,583,483

)

110,395

(Increase)/decrease in trade and other debtors

(284,047

)

626,578

Increase/(decrease) in trade and other creditors

2,633,522

(634,831

)

Cash generated from operations

2,225,642

1,329,481

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

1,909,901

1,149,622

Period ended 31 December 2024

31.12.24

13.11.23

£

£

Cash and cash equivalents

1,149,622

-