REGISTERED NUMBER: 02938804 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2025

for

Willoughby (30) Limited and its

subsidiaries

Page

Company information

1

Group strategic report

2

Report of the directors

3

to

4

Report of the independent auditors

5

to

8

Consolidated income statement

9

Consolidated statement of financial position

10

Company statement of financial position

11

Consolidated statement of changes in equity

12

Company statement of changes in equity

13

Consolidated statement of cash flows

14

Notes to the consolidated statement of cash flows

15

Notes to the consolidated financial statements

16

to

23

Directors:

J Aiken

G A Elsam

Registered office:

Boston Road

Wainfleet

Skegness

Lincolnshire

PE24 4HA

Registered number:

02938804 (England and Wales)

Auditors:

Sumer Auditco Limited

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

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

We aim to present a balanced and comprehensive report of the development and performance of our business during the year and its position at the year end. Our report is consistent with the size and non complex nature of our business and is written in the context of the risks and uncertainties we face.

Review of business

The groups principal activities are the sale, hire, service and maintenance of materials handling equipment.

The group results for 2025 are considered satisfactory during a very unsettled trading period influenced by ongoing conflicts in Ukraine and the Middle East , the effect of the imposition of tariffs, increasing market competition particularly from Chinese products and also numerous uk political policies on taxation , national insurance etc which have impacted most businesses and effected their subsequent decision making .

2025 again concluded with a strong order intake and a healthy positive cash position.

Principal risks and uncertainties

Competitive pressure in the market place is the principal risk for the company which is expected to continue in 2026 as the general economy shrinks due to the high levels of inflation and the resultant cost of living crisis.

The company mitigates this by ensuring the group pricing policy remains competitive and that the service provided is exceptional.

Development and performance

The group will continue to review the current markets and its position within them, looking to make any changes in strategy that would be beneficial to the group. Plans are revised at each review and as a result the group is in a position to react to any foreseeable eventualities. The strategic planning will enable long term continuance of the group in terms of its reliability, service and results.

Financial key performance indicators

The key performance indicators for each department are as follows:

Parts

- turnover

Service

- mix between own and client demand

Hire

- turnover and utilisation

Whole goods

- number of units and market share

Overall turnover for the year at £9.76m was up 7.1% on 2024. Gross profit margin has increased from 22.8% in 2024 to 24.1% in 2025.

On behalf of the board:

J Aiken - Director

30 September 2026

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

Dividends

During the year dividends were paid amounting to £375,000 (2024 - £nil).

The directors recommend that no final dividend be paid.

Directors

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

J Aiken

G A Elsam

Disclosure in the strategic report

The directors, in accordance with section 414c (11) of the Companies Act 2006 Regulations 2013, have

prepared the group's strategic report as required by schedule 7 of the Large and Medium-sized Companies and

Groups (Accounts and Reports) Regulations 2008 as per page 2.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

On behalf of the board:

J Aiken - Director

30 September 2026

Opinion

We have audited the financial statements of Willoughby (30) Limited and its subsidiaries (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 statement of financial position, Company statement of financial position, Consolidated statement of changes in equity, Company statement of changes in equity, Consolidated statement of cash flows and Notes to the consolidated statement of cash flows, 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:

Irregularities, including fraud are instances of non-compliance with laws and regulations. We design procedures in lines with our responsibilities, outlines 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-compliances 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 identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the client company's sector.

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company.

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to 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 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 journals entries to identify unusual transactions;

-

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;

-

reviewing correspondence with HMRC and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatement that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

Matthew Storey BFP ACA FCCA (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

30 September 2026

Turnover

9,757,735

9,120,948

Cost of sales

7,662,511

7,039,438

Gross profit

2,095,224

2,081,510

Distribution costs

237,938

256,530

Administrative expenses

1,301,631

1,214,301

1,539,569

1,470,831

Operating profit

5

555,655

610,679

Interest receivable and similar income

18,613

9,735

574,268

620,414

Interest payable and similar expenses

6

119,209

99,879

Profit before taxation

455,059

520,535

Tax on profit

7

112,119

125,955

Profit for the financial year

342,940

394,580

Fixed assets

Tangible assets

10

4,127,474

3,306,496

Investments

11

-

-

4,127,474

3,306,496

Current assets

Stocks

12

2,410,827

1,764,788

Debtors

13

1,112,395

1,175,955

Cash at bank and in hand

1,132,928

1,167,089

4,656,150

4,107,832

Creditors

Amounts falling due within one year

14

2,650,585

1,657,900

Net current assets

2,005,565

2,449,932

Total assets less current liabilities

6,133,039

5,756,428

Creditors

Amounts falling due after more than one year

15

(1,619,020

)

(1,124,163

)

Provisions for liabilities

18

(619,567

)

(705,753

)

Net assets

3,894,452

3,926,512

Capital and reserves

Called up share capital

19

93,275

93,275

Share premium

20

11,220

11,220

Capital redemption reserve

20

39,975

39,975

Retained earnings

20

3,749,982

3,782,042

Shareholders' funds

3,894,452

3,926,512

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2026 and were signed on its behalf by:

J Aiken - Director

Fixed assets

Tangible assets

10

-

-

Investments

11

224,964

224,964

224,964

224,964

Current assets

Cash at bank

3,965

4,013

Creditors

Amounts falling due within one year

14

82,024

82,072

Net current liabilities

(78,059

)

(78,059

)

Total assets less current liabilities

146,905

146,905

Capital and reserves

Called up share capital

19

93,275

93,275

Share premium

20

11,220

11,220

Capital redemption reserve

20

39,975

39,975

Retained earnings

20

2,435

2,435

Shareholders' funds

146,905

146,905

Company's profit for the financial year

375,000

-

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2026 and were signed on its behalf by:

J Aiken - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

93,275

3,387,462

11,220

39,975

3,531,932

Changes in equity

Total comprehensive income

-

394,580

-

-

394,580

Balance at 31 December 2024

93,275

3,782,042

11,220

39,975

3,926,512

Changes in equity

Dividends

-

(375,000

)

-

-

(375,000

)

Total comprehensive income

-

342,940

-

-

342,940

Balance at 31 December 2025

93,275

3,749,982

11,220

39,975

3,894,452

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

93,275

2,435

11,220

39,975

146,905

Changes in equity

Balance at 31 December 2024

93,275

2,435

11,220

39,975

146,905

Changes in equity

Dividends

-

(375,000

)

-

-

(375,000

)

Total comprehensive income

-

375,000

-

-

375,000

Balance at 31 December 2025

93,275

2,435

11,220

39,975

146,905

Cash flows from operating activities

Cash generated from operations

1

1,021,852

1,483,256

Interest element of hire purchase payments paid

(119,209

)

(99,879

)

Tax paid

(97,363

)

(115,464

)

Net cash from operating activities

805,280

1,267,913

Cash flows from investing activities

Purchase of tangible fixed assets

(261,086

)

(1,096,165

)

Sale of tangible fixed assets

157,587

170,900

Interest received

18,613

9,735

Net cash from investing activities

(84,886

)

(915,530

)

Cash flows from financing activities

Capital repayments in year

(733,665

)

266,097

Amount introduced by directors

354,110

-

Amount withdrawn by directors

-

(181,008

)

Equity dividends paid

(375,000

)

-

Net cash from financing activities

(754,555

)

85,089

(Decrease)/increase in cash and cash equivalents

(34,161

)

437,472

Cash and cash equivalents at beginning of year

2

1,167,089

729,617

Cash and cash equivalents at end of year

2

1,132,928

1,167,089

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

2025

2024

£

£

Profit before taxation

455,059

520,535

Depreciation charges

891,723

859,812

Profit on disposal of fixed assets

(89,452

)

(84,362

)

Finance costs

119,209

99,879

Finance income

(18,613

)

(9,735

)

1,357,926

1,386,129

(Increase)/decrease in stocks

(646,039

)

197,125

(Increase)/decrease in trade and other debtors

(58,771

)

38,397

Increase/(decrease) in trade and other creditors

368,736

(138,395

)

Cash generated from operations

1,021,852

1,483,256

2.	Cash and cash equivalents

The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

1,132,928

1,167,089

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

1,167,089

729,617

3.	Analysis of changes in net debt

Other

non-cash

At 1.1.25

Cash flow

changes

At 31.12.25

£

£

£

£

Net cash

Cash at bank

and in hand

1,167,089

(34,161

)

1,132,928

1,167,089

(34,161

)

1,132,928

Debt

Finance leases

(1,569,590

)

733,665

-

(2,355,675

)

(1,569,590

)

733,665

-

(2,355,675

)

Total

(402,501

)

699,504

-

(1,222,747

)

1.	Statutory information

Willoughby (30) Limited and its subsidiaries 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the process of applying the entity’s accounting policies, management has not made any judgements that have a significant effect on the amounts recognised in the financial statements.

Management has also assessed that there are no key sources of estimation uncertainty that could result in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

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.

Tangible fixed 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

Plant and machinery

- 14% - 50% straight line

Motor vehicles

- 20% -50% 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.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

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

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered he company's financial position, including its forecasted figures, available bank facilities, and the current economic climate. Based on this assessment, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of these financial statements.

4.	Employees and directors

2025

2024

£

£

Wages and salaries

1,991,109

1,873,899

Social security costs

251,677

195,822

Other pension costs

50,414

48,751

2,293,200

2,118,472

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

2025

2024

56

55

The average number of employees by undertakings that were proportionately consolidated during the year was 56 (2024 - 55 ) .

2025

2024

£

£

Directors' remuneration

17,680

17,680

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	Operating profit

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

891,723

859,811

Profit on disposal of fixed assets

(89,452

)

(84,362

)

Auditors remuneration

14,545

14,000