ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Registered number: 03063260

P.K.F. GLOBAL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

P.K.F. GLOBAL LIMITED

COMPANY INFORMATION

Directors	S Ferdi
	P Patel


Registered number	03063260


Registered office	Unit 2 Devonshire Business Park, Chester Road
	Borehamwood
	Hertfordshire
	WD6 1LT


Independent auditors	Barnes Roffe Audit Limited
	Chartered Accountants & Statutory Auditor
	Level 41A
	Tower 42
	25 Old Broad Street
	London
	EC2N 1HQ

P.K.F. GLOBAL LIMITED

CONTENTS

	Page
Group strategic report	1 - 2
Directors' report	3 - 4
Independent auditors' report	5 - 8
Consolidated statement of comprehensive income	9
Consolidated balance sheet	10 - 11
Company balance sheet	12 - 13
Consolidated statement of changes in equity	14
Company statement of changes in equity	15
Consolidated statement of cash flows	16 - 17
Consolidated analysis of net debt	18
Notes to the financial statements	19 - 42

P.K.F. GLOBAL LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

Introduction

The directors present the strategic report for the year ended 31 January 2026.

The company continues to be a market leading independent door supplier, maintaining high standards of finished products for fair value pricing and service.

Business review

For the year resulting in lower net turnover with bottom line results being challenged continually and reasonable profitability still being maintained.

PKF continues to expand its product offering with the addition of CM1 Global Ltd and the acquisition of a well established flooring brand "Malmo" with a loyal customer base and its route to market via digital platforms and national buying groups.

The company has supported credit strapped loyal customers and developed significant new customers entering the door distributor market place, thereby diversifying and easing customer concentration reliance

Principal risks and uncertainties

The principal activity of the group is the importing of wooden products, with the FSC-label, from South-East Asia and the sale of these to customers in the UK and Ireland. Examples of these wooden products are doors, floors and mouldings.

The main currency of PKF is the US Dollar. PKF Global Limited deals its transactions in Pound-Sterling. Therefore a risk is the currency-translation risk that PKF suffers based on the position of the Dollar in relation to the Pound-Sterling. Over the last years this relationship has remained stable, but due to circumstances the relation has grown more volatile.

PKF have performed transactions with a set amount of customers. These customers expect a certain quality from PKF and therefore the products PKF delivers. A risk is therefore a change in product quality; as PKF cannot always keep a 100 percent quality control over its factories. In order to mitigate the significant exposure, PKF management have continued to engage structured team members on site to conduct on going control and continually engage and fine tune production processes.

Ocean freight remains a challenge, both in capacity and pricing and geopolitical risk. Close relationships with multiple shipping lines are maintained to alleviate bottlenecks in shipping.

Raw materials also remain a continual challenge, in terms of supply, price and environmental issues. PKF continue to invest in alternative materials and aiding raw material sourcing in volume, thereby achieving strategic advantage. Environmental issue, such as Carbon emission reporting continue to be undertaken by verifiable third party.

PKF partnering factories continue to invest in advanced modern equipment and factories production processes are being aligned to minimize production disruption. PKF published its ESG Carbon report 2025/2026 in July 2026.

At the time of approving these financial statements, very significant two and three year supply agreements have been signed, with a major customer, thereby ensuring ongoing transaction and business continuity. Additional significant credit risk has also been successfully obtained and applied to credit strapped customers, thereby limiting company exposure to bad debt collection risk.

Page 1

P.K.F. GLOBAL LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

Financial key performance indicators

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the Group as a whole, these being turnover and gross profit. Turnover has decreased to £32,495,437 (2025 - £37,763,750), and gross profit has decreased to £4,272,145 (2025 - £4,853,938).

This report was approved by the board on 9 October 2026 and signed on its behalf.

S Ferdi

Director

Page 2

P.K.F. GLOBAL LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

The directors present their report and the financial statements for the year ended 31 January 2026.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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.

Results and dividends

The profit for the year, after taxation and minority interests, amounted to £461,778 (2025 - £173,315).

£20,000 (2024 - £Nil) dividends have been declared during the year.

Directors

The directors who served during the year were:

S Ferdi

P Patel

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Page 3

P.K.F. GLOBAL LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

Post balance sheet events

During the year the Company did not satisfy the agreed financial arrangements in accordance with the asset based finance agreement held in respect of the approval of the consolidated financial statements within 6 months of the year end as well as the non-provision of semi-annual accounts and forecast information. The Company’s bank issued a formal waiver of the relevant clauses on 9th December 2025 on the understanding that certain conditions were met. The Group did not satisfy these conditions and therefore in accordance with the waiver has had the advance rate of the receivable finance indefinitely reduced by 15% as at the date of the approval of the financial statements.

The existing finance agreement ends within the next 12 months of the approval of the financial statements.

This report was approved by the board on 9 October 2026 and signed on its behalf.

S Ferdi

Director

Page 4

P.K.F. GLOBAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.K.F. GLOBAL LIMITED

Opinion

We have audited the financial statements of P.K.F. Global Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 January 2026, which comprise the Consolidated statement of comprehensive income, the Consolidated analysis of net debt, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in 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, 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's affairs as at 31 January 2026 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 United Kingdom, including the Financial Reporting Council'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 or 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.

Page 5

P.K.F. GLOBAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.K.F. GLOBAL LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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. 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 course of 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.

Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the 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 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 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 Directors' responsibilities statement set out on page 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 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.

Page 6

P.K.F. GLOBAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.K.F. GLOBAL LIMITED (CONTINUED)

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 an Auditors' 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 Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-compliance with laws and regulations, was as follows:

∙Ensuring that the engagement team collectively had the appropriate competence, capabilities and skills to
identify non-compliance with applicable laws and regulations;

∙We identified the laws and regulations applicable to the Company through discussions with directors, and
from our commercial knowledge and experience of the relevant sector;

∙The specific laws and regulations which we considered may have a direct material effect on the financial
statements or the operations of the Company, are as follows - Companies Act 2006, FRS 102, Employment
legislation and Tax legislation;

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

∙Laws and regulations were communicated within the audit team at the planning meeting, and the audit team
remained alert to instances of non-compliance throughout the audit;

∙As auditors of all group companies we were able to cover the above matters at a group and component level and thereby ensure the audit team were aware of the above matters across all group companies.

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;

∙Reviewing the financial statements and testing the disclosures against supporting documentation;

∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;

∙Inspecting and testing journal entries to identify unusual or unexpected transactions; and

∙Assessing whether judgement and assumptions made in determining significant accounting estimates were
indicative of management bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' report.

Page 7

P.K.F. GLOBAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.K.F. GLOBAL LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' 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.

Mehmet Hussein FCA (Senior statutory auditor)

for and on behalf of

Barnes Roffe Audit Limited

Chartered Accountants

Statutory Auditor

Level 41A

Tower 42

25 Old Broad Street

London

EC2N 1HQ

Date: 9 October 2026

Page 8

P.K.F. GLOBAL LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 JANUARY 2026

	2026	2025
Note	£	£


Turnover	4	32,495,437	37,763,750
Cost of sales		(28,223,292)	(32,909,812)
Gross profit		4,272,145	4,853,938
Administrative expenses		(3,572,600)	(4,532,194)
Operating profit	5	699,545	321,744
Interest receivable and similar income	9	20,928	8,947
Interest payable and similar expenses	10	(130,336)	(144,090)
Profit before taxation		590,137	186,601
Tax on profit	11	(55,500)	14,565
Profit for the financial year		534,637	201,166


Currency translation differences	(330,094)	31,593
Acquisition	-	5,000
Other comprehensive income for the year	(330,094)	36,593
Total comprehensive income for the year	204,543	237,759

Profit for the year attributable to:
Non-controlling interests	72,859	27,851
Owners of the Parent Company	461,778	173,315
	534,637	201,166

Total comprehensive income for the year attributable to:
Non-controlling interest	72,859	27,851
Owners of the Parent Company	131,684	209,908
	204,543	237,759

The notes on pages 19 to 42 form part of these financial statements.

Page 9

P.K.F. GLOBAL LIMITED

REGISTERED NUMBER: 03063260

CONSOLIDATED BALANCE SHEET

AS AT 31 JANUARY 2026

		As restated
	2026	2025
Note	£	£

Fixed assets
Intangible assets	13		28,462		34,629
Tangible assets	14		284,120		160,665
Investments	15		10,000		10,000
			322,582		205,294
Current assets
Stocks	16	502,791		1,077,102
Debtors	17	7,414,555		8,181,519
Cash at bank and in hand	18	1,012,483		579,435
		8,929,829		9,838,056
Creditors: amounts falling due within one year	19	(3,374,148)		(4,332,041)
Net current assets			5,555,681		5,506,015
Total assets less current liabilities			5,878,263		5,711,309
Creditors: amounts falling due after more than one year	20		(20,459)		(31,094)
Provisions for liabilities
Deferred taxation	24	(4,495)		(11,449)
			(4,495)		(11,449)
Net assets excluding pension asset			5,853,309		5,668,766
Net assets			5,853,309		5,668,766

Capital and reserves
Called up share capital	25	250,000	250,000
Profit and loss account	26	5,439,581	5,319,897
Equity attributable to owners of the Parent Company		5,689,581	5,569,897
Non-controlling interests		163,728	98,869
		5,853,309	5,668,766

Page 10

P.K.F. GLOBAL LIMITED

REGISTERED NUMBER: 03063260

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2026

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2026.

S Ferdi

Director

The notes on pages 19 to 42 form part of these financial statements.

Page 11

P.K.F. GLOBAL LIMITED

REGISTERED NUMBER: 03063260

COMPANY BALANCE SHEET

AS AT 31 JANUARY 2026

		As restated
	2026	2025
Note	£	£

Fixed assets
Intangible assets	13		23,124		29,291
Tangible assets	14		195,268		120,830
Investments	15		157,017		157,017
			375,409		307,138
Current assets
Stocks	16	120,630		116,060
Debtors	17	2,294,275		2,756,147
Cash at bank and in hand	18	621,490		268,560
		3,036,395		3,140,767
Creditors: amounts falling due within one year	19	(1,207,139)		(1,236,550)
Net current assets			1,829,256		1,904,217
Total assets less current liabilities			2,204,665		2,211,355

Creditors: amounts falling due after more than one year	20		(20,459)		(31,094)
Provisions for liabilities
Deferred taxation	24	(4,495)		(11,449)
			(4,495)		(11,449)
Net assets			2,179,711		2,168,812

Capital and reserves
Called up share capital	25		250,000		250,000
Profit and loss account brought forward		1,918,812		1,834,422
Profit for the year		10,899		84,390
Profit and loss account carried forward			1,929,711		1,918,812
			2,179,711		2,168,812

Page 12

P.K.F. GLOBAL LIMITED

REGISTERED NUMBER: 03063260

COMPANY BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2026

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2026.

S Ferdi

Director

The notes on pages 19 to 42 form part of these financial statements.

Page 13

P.K.F. GLOBAL LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2026

	Called up share capital	Profit and loss account	Equity attributable to owners of Parent Company	Non-controlling interests	Total equity
	£	£	£	£	£
At 1 February 2024	250,000	5,114,989	5,364,989	66,018	5,431,007
Comprehensive income for the year
Profit for the year	-	173,315	173,315	27,851	201,166
Currency translation differences	-	31,593	31,593	-	31,593
Equity movement	-	-	-	5,000	5,000
Total comprehensive income for the year	-	204,908	204,908	32,851	237,759

At 1 February 2025	250,000	5,319,897	5,569,897	98,869	5,668,766
Comprehensive income for the year
Profit for the year	-	461,778	461,778	64,859	526,637
Currency translation differences	-	(330,094)	(330,094)	-	(330,094)
Total comprehensive income for the year	-	131,684	131,684	64,859	196,543
Contributions by and distributions to owners
Dividends	-	(12,000)	(12,000)	-	(12,000)
At 31 January 2026	250,000	5,439,581	5,689,581	163,728	5,853,309

The notes on pages 19 to 42 form part of these financial statements.

Page 14

P.K.F. GLOBAL LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2026

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 February 2024	250,000	1,834,422	2,084,422
Comprehensive income for the year
Profit for the year	-	84,390	84,390
Total comprehensive income for the year	-	84,390	84,390

At 1 February 2025	250,000	1,918,812	2,168,812
Comprehensive income for the year
Profit for the year	-	10,899	10,899
Total comprehensive income for the year	-	10,899	10,899
At 31 January 2026	250,000	1,929,711	2,179,711

The notes on pages 19 to 42 form part of these financial statements.

Page 15

P.K.F. GLOBAL LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JANUARY 2026

			2026	As restated 2025
			£	£

Cash flows from operating activities
Profit for the financial year	534,637	201,166
Adjustments for:
Amortisation of intangible assets	6,167	1,542
Depreciation of tangible assets	43,383	40,981
Profit on disposal of tangible assets	3,964	(54,280)
Interest paid	130,336	144,090
Interest received	(20,928)	(8,947)
Taxation charge	55,500	(14,565)
Decrease/(increase) in stocks	574,311	(918,667)
Decrease/(increase) in debtors	341,658	(773,411)
Increase in creditors	100,710	509,010
Corporation tax penalties	21,052	32,146
Corporation tax received/(paid)	75,960	(307,712)
Foreign exchange	(146,758)	(93,019)
Net cash generated from operating activities	1,719,992	(1,241,666)

Cash flows from investing activities
Purchase of intangible fixed assets	-	(30,833)
Purchase of tangible fixed assets	(220,802)	(43,388)
Sale of tangible fixed assets	50,000	120,409
Purchase of fixed asset investments	-	(45,000)
Interest received	20,928	8,947
HP interest paid	(2,012)	(2,873)
Net cash from investing activities	(151,886)	7,262
Cash flows from financing activities
Repayment of loans	(10,356)	(10,096)
Repayment of/new finance leases	(5,350)	(18,896)
Dividends paid	(12,000)	-
Interest paid	(128,324)	(141,217)
Dividends paid to non-controlling interests	(8,000)	-
Net cash used in financing activities	(164,030)	(170,209)
Net increase/(decrease) in cash and cash equivalents	1,404,076	(1,404,613)
Cash and cash equivalents at beginning of year	(1,215,688)	64,313

Page 16

P.K.F. GLOBAL LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

		2026	2025
		£	£

Foreign exchange gains and losses	(183,336)	124,612
Cash and cash equivalents at the end of year	5,052	(1,215,688)

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,012,483	579,435
Bank facility	(1,007,431)	(1,795,123)
	5,052	(1,215,688)

The notes on pages 19 to 42 form part of these financial statements.

Page 17

P.K.F. GLOBAL LIMITED

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 JANUARY 2026


At 1 February 2025	Cash flows	Other non-cash changes	At 31 January 2026
£	£	£	£

Cash at bank and in hand	579,435	433,048	-	1,012,483
Invoice discounting facility	(1,795,123)	787,692	-	(1,007,431)
Debt due after 1 year	(5,285)	-	5,285	-
Debt due within 1 year	(34,635)	(553,372)	-	(588,007)
Hire purchase	(31,158)	5,350	-	(25,808)
	(1,286,766)	672,718	5,285	(608,763)

The notes on pages 19 to 42 form part of these financial statements.

Page 18

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.	General information

P.K.F. Global Limited ("the Company") is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 2 Devonshire Business Park, 4 Chester Road, Borehamwood, Herts, WD6 1LT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 19

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.3

Going concern

After making appropriate enquiries, the directors have, at the time of approving the financial statements, formed a judgement that there is a reasonable expectation that the Group and Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

In adopting the going concern basis, the directors have considered the risks and uncertainties relating to the Group and has headroom in its existing committed facilities to respond to various realistic sensitivities.

In the event that the Group requires assistance to meet its financial obligations, then the shareholders would be able to provide support to the Group. The Group has received an unconditional letter of support from the shareholders, confirming it will provide financial support to the Group if needed, for a period of 12 months from approval of the 2026 financial statements, in order to allow the Group to continue to operate as a going concern. Accordingly, the Directors continue to adopt the going concern basis in preparing the financial statements.

The facility provided by Deutsche Bank is due to be repaid on 4th December 2026. The directors have confirmed that the funds are available to repay the facility when it becomes due, which is supported by the letter of support provided.

Page 20

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 21

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.6

Operating leases: the Group as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 22

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 23

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property	-		Straight line over lease term
Motor vehicles	-	25%	reducing balance
Fixtures and fittings	-	15%	reducing balance
Office equipment	-	20%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Page 24

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 25

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.19

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a

Page 26

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.19

Financial instruments (continued)

market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 27

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

1.Critical judgements in applying accounting policies

The company does not consider there to be any critical judgements in applying accounting policies.

2.Critical accounting estimates and assumptions

Recoverability of debtors

The Group makes an estimate of the recoverable value of trade debtors. When assessing the recoverability of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 17 for the net carrying amount of the trade debtors.

	Door sales	32,495,437	37,763,750

Analysis of turnover by country of destination:

					2026	2025
					£	£

	United Kingdom	32,495,437	37,763,750

Exchange differences	(146,758)	(93,019)
Other operating lease rentals	120,299	120,848
Depreciation of tangible fixed assets	43,383	40,981

Page 28

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Fees payable to the Company's auditors for the audit of the consolidated and Parent Company's financial statements

45,000

30,000

7.	Employees
	Staff costs, including directors' remuneration, were as follows:

Group	Group	Company	Company
2026	2025	2026	2025
£	£	£	£


Wages and salaries	1,897,020	2,179,416	1,539,026	1,891,827
Social security costs	239,575	263,726	199,085	236,544
Cost of defined contribution scheme	103,207	112,824	92,206	104,912
	2,239,802	2,555,966	1,830,317	2,233,283

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2026	2025	2026	2025
	No.	No.	No.	No.

Management	2	2	2	2
Administration	27	26	21	21

	29	28	23	23

Page 29

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

8.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	741,586	970,936
Group contributions to defined contribution pension schemes	71,663	83,237
	813,249	1,054,173

	During the year retirement benefits were accruing to 2 directors (2025 - 2) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £486,154 (2025 - £668,487).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £46,120 (2025 - £52,992).

9.	Interest receivable
		2026	2025
		£	£

	Other interest receivable	20,928	8,947
		20,928	8,947

10.	Interest payable and similar expenses
		2026	2025
		£	£

Other loan interest payable	127,543	125,403
Hire purchase contracts	2,012	2,873
Interest on overdue tax	781	15,814
	130,336	144,090

Page 30

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Corporation tax
Current tax on profits for the year	56,081	78,618
Adjustments in respect of previous periods	6,373	(98,533)

Total current tax	62,454	(19,915)

Deferred tax
Origination and reversal of timing differences	(6,954)	5,350
Total deferred tax	(6,954)	5,350


	Tax on profit	55,500	(14,565)

Profit on ordinary activities before tax

590,137

186,601

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 21.96%)	147,534	40,978
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	(14,003)	37,848
Losses carried forward	18,484	-
Adjustments to tax charge in respect of prior periods	7,294	(98,533)
Other timing differences leading to an increase (decrease) in taxation	(103,809)	5,142
Total tax charge for the year	55,500	(14,565)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 31

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

12.	Dividends
		2026	2025
		£	£

	Dividends	12,000	-
		12,000	-

13.	Intangible assets
	Group

	Patents	Goodwill	Total
	£	£	£
Cost
At 1 February 2025	30,833	5,338	36,171
At 31 January 2026	30,833	5,338	36,171
Amortisation
At 1 February 2025	1,542	-	1,542
Charge for the year	6,167	-	6,167
At 31 January 2026	7,709	-	7,709
Net book value
At 31 January 2026	23,124	5,338	28,462
At 31 January 2025	29,291	5,338	34,629

Page 32

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

14.	Tangible fixed assets
	Group

	Long-term leasehold property	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 February 2025	2,916	107,087	217,374	4,081	331,458
Additions	-	171,350	49,452	-	220,802
Disposals	-	(58,550)	-	-	(58,550)
At 31 January 2026	2,916	219,887	266,826	4,081	493,710
Depreciation
At 1 February 2025	2,916	22,471	143,502	1,904	170,793
Charge for the year on owned assets	-	28,266	5,432	435	34,133
Charge for the year on financed assets	-	9,250	-	-	9,250
Disposals	-	(4,586)	-	-	(4,586)
At 31 January 2026	2,916	55,401	148,934	2,339	209,590
Net book value
At 31 January 2026	-	164,486	117,892	1,742	284,120
At 31 January 2025	-	84,616	73,872	2,177	160,665

Page 33

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

14.Tangible fixed assets (continued)

	Company

	Long-term leasehold property	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 February 2025	2,916	107,087	179,716	289,719
Additions	-	171,350	-	171,350
Disposals	-	(58,550)	-	(58,550)
At 31 January 2026	2,916	219,887	179,716	402,519
Depreciation
At 1 February 2025	2,916	22,471	143,502	168,889
Charge for the year on owned assets	-	28,266	5,432	33,698
Charge for the year on financed assets	-	9,250	-	9,250
Disposals	-	(4,586)	-	(4,586)
At 31 January 2026	2,916	55,401	148,934	207,251
Net book value
At 31 January 2026	-	164,486	30,782	195,268
At 31 January 2025	-	84,616	36,214	120,830

Page 34

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

15.	Fixed asset investments
	Group

		Other fixed asset investments
		£
	Cost or valuation
	At 1 February 2025	10,000
	At 31 January 2026	10,000

	Company

	Investments in subsidiary companies	Other fixed asset investments	Total
	£	£	£
Cost or valuation
At 1 February 2025	147,017	10,000	157,017
At 31 January 2026	147,017	10,000	157,017

Page 35

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

PKF Global BV	Weena 290 10th Floor 3012 NJ Rotterdam, The Netherlands	Ordinary	100%
CM1 Global Limited	Unit 2 Chester Road, Borehamwood, England, WD6 1LT	Ordinary	60%
Urban Doors PTE. Limited	4 Shenton Way #10 - 03/06, SGX Centre II, Singapore 068807.	Ordinary	51%
NSP Global Limited	Unit 2 Chester Road, Borehamwood, England, WD6 1LT	Ordinary	90%

CM1 Global Limited (company number: 13953650) has taken advantage of the audit exemption under S479A of the Companies Act 2006, With P.K.F Global Limited guaranteeing the subsidiaries liabilities.

NSP Global Limited (company number: 15734263) has taken advantage of the audit exemption under S479A of the Companies Act 2006, With P.K.F Global Limited guaranteeing the subsidiaries liabilities.

16.	Stocks
		Group	Group As restated	Company	Company As restated
		2026	2025	2026	2025
		£	£	£	£

	Finished goods and goods for resale	502,791	1,077,102	120,630	116,060

	The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 36

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

17.

Debtors

Group	Group	Company	Company
2026	2025	2026	2025
£	£	£	£



Trade debtors	5,954,809	6,272,188	163,698	261,807
Amounts owed by group undertakings	-	1	1,758,204	1,826,843
Other debtors	595,088	1,032,403	289,315	663,145
Prepayments	864,658	876,927	83,058	4,352
	7,414,555	8,181,519	2,294,275	2,756,147

The trade debtors balance includes amounts which is covered by an invoice discounting arrangement. These assets have not been derecognised from the balance sheet because the company remains ultimately responsible for any unpaid balances, so the directors consider significant risks to have been retained.

18.	Cash and cash equivalents
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Cash at bank and in hand	1,012,483	579,435	621,490	268,560
Less: bank facilities	(1,007,431)	(1,795,123)	(88)	(88)
	5,052	(1,215,688)	621,402	268,472

Page 37

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

19.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Bank facility	1,007,431	1,795,123	88	88
Bank loans	5,299	10,370	5,299	10,370
Trade creditors	1,124,728	1,955,379	240,924	514,082
Amounts owed to group undertakings	-	1	-	300,077
Corporation tax	86,909	-	10,464	33,054
Other taxation and social security	136,937	95,547	125,933	81,674
Obligations under hire purchase contracts	5,349	5,349	5,349	5,349
Other creditors	605,218	38,876	593,267	30,293
Accruals	402,277	431,396	225,815	261,563
	3,374,148	4,332,041	1,207,139	1,236,550

The bank facility is a Credit facility which comprises of Deutsche Bank Netherland N.V. Euro 5 million.

Securities given to the bank in return for the credit arrangements: All debts due to PKF Global Limited and PKF Global BV; pledge of accounts receivable; pledge of stocks and / of title documents received under import Letters of Credit; pledge of Cash against Documents collections; Standby LC's and Avalised Bills of Exchange; pledge of rights out of Credit Insurance policy; pledge of rights out of Transport / Storage insurance policy.

PKF Global Ltd has also pledged $1,150,000 receivable from PKF Global BV to Deutsche bank as part of the facility at a coupon of 1.5% per annum.

Indemnity bond deficiency guarantees of Euro 150,000 by S Ferdi and Euro 50,000 by P Patel - Directors of PKF Global Ltd and PKF Global BV.

Bank loan consistes of a Bounce Back bank loan of £5,299. This is an unsecured loan from the Bank of Ireland.

During the year the Company did not satisfy the agreed financial arrangements in accordance with the asset based finance agreement held in respect of the approval of the consolidated financial statements within 6 months of the year end as well as the non-provision of semi-annual accounts and forecast information. The Company’s bank issued a formal waiver of the relevant clauses on 9th December 2025 on the understanding that certain conditions were met. The Group did not satisfy these conditions and therefore in accordance with the waiver has had the advance rate of the receivable finance indefinitely reduced by 15% as at the date of the approval of the financial statements.

The existing finance agreement ends within the next 12 months of the approval of the financial statements.

Included within other creditors are amounts loaned by directors. Whilst these are repayable on demand a letter of support has been issued from the directors confirming that any repayments are subject to the availability of funds and the companies ability to pay its obligations.

Page 38

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

20.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Bank loans	-	5,285	-	5,285
Net obligations under hire purchase contracts	20,459	25,809	20,459	25,809
	20,459	31,094	20,459	31,094

21.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Amounts falling due within one year
Bank loans	5,299	10,370	5,299	10,370
Amounts falling due 1-2 years
Bank loans	-	5,285	-	5,285

	5,299	15,655	5,299	15,655

22.	Hire purchase and finance leases
	Minimum lease payments under hire purchase fall due as follows:
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Within one year	5,349	5,349	5,349	5,349
Between 1-5 years	20,459	25,809	20,459	25,809
	25,808	31,158	25,808	31,158

Page 39

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

23.	Financial instruments
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	1,012,483	1,012,483	621,490	268,560

Financial assets measured at fair value through profit or loss comprise...

24.	Deferred taxation
	Group

	2026	2025
	£	£

At beginning of year	(11,449)	(6,099)
Charged to profit or loss	6,954	(5,350)
At end of year	(4,495)	(11,449)

Company

	2026	2025
	£	£

At beginning of year	(11,449)	(6,099)
Charged to profit or loss	6,954	(5,350)
At end of year	(4,495)	(11,449)

Group	Group	Company	Company
2026	2025	2026	2025
£	£	£	£

Accelerated capital allowances

(4,495)

(11,449)

(4,495)

(11,449)

Page 40

P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

25.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

250,000 (2025 - 250,000) Ordinary shares of £1.00 each	250,000	250,000

26.

Reserves

Profit and loss account

The profit and loss account represents cumulative profit or losses, net of dividends and other adjustments.

27.	Prior year adjustment

Goods in transit relating to the year ended 31 January 2025 had not been previously accounted for and has now been adjusted for in the financial statements. There is no profit impact of the adjustments and the impact in stock is £81,196.

28.	Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £103,207 (2025 - £112,824). Contributions totalling £21,515 (2025 - £24,164) were payable to the fund at the balance sheet date and are included in creditors.

29.	Commitments under operating leases
	At 31 January 2026 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Not later than 1 year	31,988	37,550	31,988	37,550
Later than 1 year and not later than 5 years	15,196	49,533	15,196	49,533
	47,184	87,083	47,184	87,083

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P.K.F. GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

30.	Transactions with directors

During the year, £911,935 (2025 - £162,901 was advanced to) was received from the directors. At the year end, the Company owed £545,346 (2025 - £366,588 owed by director) to the Directors.

Rent of £63,250 (2025 - £63,250) was paid to a partnership which a director has a third share in and this was paid on a commercial basis. Included in other debtors is an amount of £145,412 (2025 - £145,412) which is a rent deposit paid to the partnership.

31.

Related party transactions

Transactions with group companies are not disclosed by virtue of the exemption claimed under FRS 102 paragraph 33.1A. The group publishes consolidated accounts.

At the year end there was a balance of £14,201 (2025 - £14,201) owed by Urban Doors PTE to P.K.F. Global Limited.

At the year end there was a balance of £289,564 (2025 - £300,077) owed to CM1 Global Limited by Malmo International Limited.

At the year end there was a balance of £1,944,710 (2025 - £1,849,076) owed by PKF Global BV to P.K.F. Global Limited.

At the year end there was a balance of £49,926 (2025 - £36,434) owed to NSP Global Limited by P.K.F Global Limited.

Expenses of £20,000 (2025 - £19,500) have been accrued to Krioeos Limited a company controlled by a director of P.K.F Global Limited for the provision of payroll services. A balance of £95,680 (2025 - £95,680) is owed from PKF Global BV to Krioeos Limited.

32.	Post balance sheet events

33.	Controlling party

The ultimate controlling party is S Ferdi, a director and majority shareholder of the P.K.F. Global Limited.

Page 42