Reid Lifting Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11—19

The directors present their strategic report for the year ended 30 April 2026.

Principal Activity

The company's principal activity continues to be that of that of manufacture of lifting and handling equipment.

Review of the Business

The company has reported turnover for the period of £14.0 (2025: £12.8m) and achieved a gross profit margin of 49.1% (2025: 50.2%). Profits for the year before depreciation, amortisation and financing costs stood at £2.8m (2025: £2.7m), which represents sustained growth for 5 years, with sales CAGR since 2019 at 11%, representing a strong performance despite ongoing macro market weakness.

Financial KPIs
	Unit	2026	2025
EBITDA	£'000	2,817	2,668
Working capital	£'000	5,165	3,346
Net cash/(debt)	£'000	725	838

Principal Risks and Uncertainties

Recovery of UK economy

The Directors are optimistic about the future, underlined by a strong pipeline of opportunity, and backdrop of growing order inflow going into financial year 2026 and beyond. The Directors are however mindful to remember the headwinds globally, and broader uncertainty, which persist. However, we are prepared for the challenges having navigated unprecedent uncertainty and market volatility, and we are confident to emerge a stronger business.

Financial Instruments

The company has exposure to a variety of financial risks which are managed with purpose of minimising any potential adverse effect on the company's performance. The directors have policies for managing each of these risks and they are summarised below:

Price risk

Price risk is managed by reviewing the market to ensure our products are competitively placed, whilst also the products we buy are equally competitively placed, with margins and comparison reviews, regularly undertaken.

Credit risk

Credit risk, is manged by through subscribing to credit agencies and setting suitable limits along with controlling customer credit, and taking steps to ensure levels are appropriate for the business on both sides.

Liquidity risk

Liquidity risk is managed by ensuring a minimum level of headroom is maintained in the business, applying robust internal covenants on leverage, CAPEX spend, and capital events in our cashflow modelling and setting out plans with sufficient headroom and sensitivity to future changes, both positive and negative.

Cash flow risk

Is managed through detailed monthly forecasts and the use of working capital facilities provided by NatWest bank.

On behalf of the board

Mr S Luke

Director

25 September 2026

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Reid Lifting Limited

Company No. 03896652

Directors' Report For The Year Ended 30 April 2026

Directors' Report

The directors present their report and the financial statements for the year ended 30 April 2026.

Dividends

The value of dividends paid amounted to £2,000,000 .

The directors recommended a final dividend of £NIL .

Directors

The directors who held office during the year were as follows:

Mr R S Briere

Mr S Luke

Employee Engagement Statement

The company places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on the various factors affecting the performance of the company. This is achieved through formal and informal meetings. Employee representatives are consulted regularly through an employee forum on a wide range of matters affect their current and future interests. Employee representatives are encouraged to share any concerns so that management are aware and able to react appropriately.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the 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;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Reid Lifting Limited

Directors' Report (continued)

For The Year Ended 30 April 2026

Independent Auditors

The auditors, HSJ Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr S Luke

Director

25 September 2026

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Independent Auditor's Report

to the Members of

Reid Lifting Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Reid Lifting Limited for the year ended 30 April 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 April 2026 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 entity's ability to continue as a going concern for a period of at least 12 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 contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Reid Lifting Limited

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 or 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 set out on page 2—3, 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.

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Independent Auditor's Report (continued)

to the Members of

Reid Lifting Limited

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.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.

We communicated identified fraud risks throughout the engagement team and remained alert throughout the engagement process for any indications of fraud.

As required by the auditing standards, we identify and assess the risk of material misstatement of financial statements, whether due to fraud or error, in particular revenue recognition and management override of control. We 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. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

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

Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

Reviewing financial statement disclosures and testing supporting documentation to assess compliance with applicable laws and regulations;

Identifying journal entries and other adjustments to test based on risk criteria and comparing the identified entries to supporting documentation. These included those posted to unusual account combinations;

Assessing whether revenue has been accounted for in the correct period and the existence of revenue at the cut off date based on the adopted accounting policy for revenue.

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 regulations. This risk increases the more than 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 of not detecting a material misstatement resulting from fraud is higher than for one result from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of an internal control.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Reid Lifting Limited

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 that 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.

Mr Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor)

for and on behalf of HSJ Audit Limited , Statutory Auditor

28 September 2026

HSJ Audit Limited

Severn House

Hazell Drive

Newport

NP10 8FY

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Reid Lifting Limited

Statement of Comprehensive Income

For The Year Ended 30 April 2026

Statement of Comprehensive Income

		2026	2025
	Notes	£	£
TURNOVER	4	14,066,007	12,832,888
Cost of sales		(6,890,118 )	(6,384,570 )

GROSS PROFIT		7,175,889	6,448,318

Distribution costs		(17,477 )	(16,092 )
Administrative expenses		(4,334,427 )	(3,910,321 )

OPERATING PROFIT	5	2,823,985	2,521,905
Profit on disposal of fixed assets		-	2,109
Other interest receivable and similar income	10	10,398	9,278
Interest payable and similar charges	11	(85,905 )	(155,287 )

PROFIT BEFORE TAXATION		2,748,478	2,378,005
Tax on Profit	12	(2,149 )	(46,874 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		2,746,329	2,331,131
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		2,746,329	2,331,131

The notes on pages 11 to 19 form part of these financial statements.

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Reid Lifting Limited

Balance Sheet

As At 30 April 2026

Balance Sheet

Registered number: 03896652

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	13		77,954		140,257
Tangible Assets	14		2,374,066		432,606

			2,452,020		572,863
CURRENT ASSETS
Stocks	15	2,622,025		1,751,600
Debtors	16	9,233,202		8,538,404
Cash at bank and in hand		724,618		838,363

		12,579,845		11,128,367
Creditors: Amounts Falling Due Within One Year	17	(11,694,808 )		(11,129,993 )

NET CURRENT ASSETS (LIABILITIES)			885,037		(1,626 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,337,057		571,237

Creditors: Amounts Falling Due After More Than One Year	18		(2,054,406 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation	20		(43,051 )		(77,966 )

NET ASSETS			1,239,600		493,271

CAPITAL AND RESERVES
Called up share capital	22		100		100
Share premium account			24,900		24,900
Profit and Loss Account			1,214,600		468,271

SHAREHOLDERS' FUNDS			1,239,600		493,271

On behalf of the board

Mr S Luke

Director

25 September 2026

The notes on pages 11 to 19 form part of these financial statements.

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Reid Lifting Limited

Statement of Changes in Equity

For The Year Ended 30 April 2026

Statement of Changes in Equity

	Share Capital	Share Premium	Profit and Loss Account	Total
	£	£	£	£
As at 1 May 2024	100	24,900	4,560,140	4,585,140
Profit for the year and total comprehensive income	-	-	2,331,131	2,331,131

Dividends paid	-	-	(6,423,000)	(6,423,000)

As at 30 April 2025 and 1 May 2025	100	24,900	468,271	493,271


Profit for the year and total comprehensive income	-	-	2,746,329	2,746,329

Dividends paid	-	-	(2,000,000)	(2,000,000)

As at 30 April 2026	100	24,900	1,214,600	1,239,600

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Reid Lifting Limited

Notes to the Financial Statements

For The Year Ended 30 April 2026

Notes to the Financial Statements

1. General Information

Reid Lifting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03896652 . The registered office is Unit 1 Wyeview, Newhouse Farm Industrial Estate, Chepstow, Monmouthshire, NP16 6UD.

2. Statement of Compliance

The 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 entity has early adopted the amendments to FRS 102 arising from the Financial Reporting Council’s Periodic Review 2024, which are mandatorily effective for accounting periods beginning on or after 1 January 2026. These amendments have been applied in full in the current period.

The principal changes arising from early adoption include revisions to lease accounting. The accounting policies have been updated accordingly.

In accordance with the transitional provisions of FRS 102, the entity has applied the amendments using the specific transitional provisions provided. Comparative figures have not been restated, as permitted by the standard.

The impact of the transition to the amended version of FRS 102 is disclosed in note 21, including a description of the changes in accounting policies and the effect on the current and prior period financial statements.

Judgements and estimates have been revisited where necessary to reflect the requirements of the revised standard.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

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

3.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The company has taken advantage of the following disclosure exemptions 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 and Section 3 Financial Statement Presentation paragraph 3.17 (d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.3. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

3.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

3.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are capitalised research and development costs that have not been expensed. It is amortised to the profit and loss account over its estimated economic life of 3 years.

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

3.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Over the term of the lease
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

3.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3.8. Stocks and Work in Progress

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 stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

3.9. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3.10. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3.11. Taxation

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

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

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

3.11. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

4. Turnover

Analysis of turnover by geographical market is as follows:

	2026	2025
	£	£
United Kingdom	14,066,007	12,832,888

	14,066,007	12,832,888

5. Operating Profit

The operating profit is stated after charging:

	2026	2025
	£	£
Bad debts	(7,500)	-
Research and Development Costs	(46,008 )	-
Depreciation of tangible fixed assets	582,960	120,249
Amortisation of intangible fixed assets	82,802	57,755

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2026	2025
	£	£
Audit Services
Audit of the company's financial statements	9,725	9,400

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2026	2025
	£	£
Wages and salaries	2,695,698	2,183,860
Social security costs	349,369	244,619
Other pension costs	179,116	154,536

	3,224,183	2,583,015

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2026	2025
Office and administration	30	16
Sales, marketing and distribution	10	9
Manufacturing	32	28

	72	53

9. Directors' remuneration

	2026	2025
	£	£
Emoluments	365,322	382,621
Company contributions to money purchase pension schemes	10,774	37,749

	376,096	420,370

Information regarding the highest paid director was as follows:

	2026	2025
	£	£
Emoluments	219,084	221,610

10. Interest Receivable and Similar Income

	2026	2025
	£	£
Bank interest receivable	10,398	9,278

11. Interest Payable and Similar Charges

	2026	2025
	£	£
Bank loans and overdrafts	6,890	134,246
Finance charges payable under finance leases and hire purchase contracts	5,439	5,145
Foreign exchange charges	(1,653 )	15,896
Other finance charges	75,229	-

	85,905	155,287

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

12. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2026	2025
	2026	2025	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	50,491	137,198
Prior period adjustment			2,167	(97,178 )

			52,658	40,020
Deferred Tax
Origination and reversal of timing differences			(50,509 )	6,854


Total tax charge for the period			2,149	46,874

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

	2026	2025
	£	£
Profit before tax	2,748,478	2,378,005

Tax on profit at 25% (UK standard rate)	687,119	594,501
Expenses not deductible for tax purposes	5,328	9,228
Research and Development tax credit	(268,959 )	(233,402 )
Prior period adjustment	2,167	(97,178 )
Group relief	(423,506 )	(226,275 )

Total tax charge for the period	2,149	46,874

13. Intangible Assets

	Other
	£
Cost
As at 1 May 2025	249,056
Additions	20,500

As at 30 April 2026	269,556

Amortisation
As at 1 May 2025	108,799
Provided during the period	82,803

As at 30 April 2026	191,602

Net Book Value
As at 30 April 2026	77,954

As at 1 May 2025	140,257

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

14. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 May 2025	-	1,241,021	55,766	179,364	1,476,151
Additions	1,956,030	168,306	399,451	633	2,524,420

As at 30 April 2026	1,956,030	1,409,327	455,217	179,997	4,000,571

Depreciation
As at 1 May 2025	-	884,001	40,134	119,410	1,043,545
Provided during the period	223,088	140,433	204,346	15,093	582,960

As at 30 April 2026	223,088	1,024,434	244,480	134,503	1,626,505

Net Book Value
As at 30 April 2026	1,732,942	384,893	210,737	45,494	2,374,066

As at 1 May 2025	-	357,020	15,632	59,954	432,606

Freehold property additions of £2,452,114 represent the recognition of right of use assets under FRS 102 (September 2024 edition).

15. Stocks

	2026	2025
	£	£
Stock	815,966	347,405
Materials	1,361,468	1,197,681
Finished goods	282,135	148,389
Work in progress	162,456	58,125

	2,622,025	1,751,600

The total amount of stock recognised through profit and loss during the year ended 31 March 2026 was £5,122,613 (2025: £4,734,230).

16. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	3,548,631	3,583,930
Prepayments and accrued income	222,056	183,357
Other debtors	39,606	62,021
Corporation tax recoverable assets	86,490	-
VAT	13,745	-
Directors' loan accounts	31,715	30,789
Amounts owed by group undertakings	5,290,959	4,678,307

	9,233,202	8,538,404

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

17. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	40,573	-
Trade creditors	1,730,755	1,546,742
Amounts owed to group undertakings	9,317,980	9,134,202
Other creditors	392,740	194,328
Corporation tax	-	1,558
Taxation and social security	56,387	70,937
Accruals and deferred income	156,373	182,226

	11,694,808	11,129,993

18. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Other creditors	2,054,406	-

Other creditors due in more than one year of £2,054,000 represents the liability arising from the recognition of right of use assets within tangible fixed assets as required under FRS 102 (September 2024 edition).

Of the creditors the following amounts are secured.

	2026		2025
	£		£
Net obligations under finance lease and hire purchase contracts	40,573		-

19. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	40,573	-

20. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Other timing differences	43,051	77,966

21. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 May 2025	77,966	77,966
Utilised	(34,915 )	(34,915)

Balance at 30 April 2026	43,051	43,051

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

22. Share Capital

	2026	2025
Allotted, called up but not fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

23. Other Commitments

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

	2026	2025
	£	£
Not later than one year	310,994	310,994
Later than one year and not later than five years	472,543	783,537

	783,537	1,094,531

24. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £179,116 (2025: £154,536).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

25. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 May 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 30 April 2026
	£	£	£	£	£
Mr Richard Briere	30,790	925	-	-	31,716

The above loan is unsecured, repayable on demand and attracts an interest rate of 3% per annum.

26. Dividends

	2026	2025
	£	£
On equity shares:
Interim dividend paid	2,000,000	6,423,000

27. Related Party Disclosures

The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

28. Controlling Parties

The company's immediate parent undertaking is Reid Lifting Holdings Limited .

The ultimate parent undertaking is Pure Lifting Investco Limited (incorporated in England & Wales). Its registered office is Unit 1 Wyeview Newhouse Farm Industrial Estate, Mathern, Chepstow, Wales, NP16 6UD .

Copies of the group accounts may be obtained from the company's registered office.

The company's ultimate controlling party is Pure Lifting Investco Limited by virtue of their interest in the share capital of the company.

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Reid Lifting Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

29. Transition to FRS 102

The company has elected to early adopt the amendments to FRS 102 (September 2024 edition).

The impact of this early adoption has seen the recognition of a right of use asset at a cost of £2,452,114 and subsequent liability of £2,054,000.

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