REGISTERED NUMBER: 04931967 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

COVENTRY TECHNICAL RESOURCES LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

Mr G McKelvie

Mrs P Mudhar

Mr P Helm

Mr P Fahy

Ms M Pangli

SECRETARY:

Mr G S Sangha

REGISTERED OFFICE:

c/o Room 56

Council House

Earl Street

Coventry

West Midlands

CV1 5RR

REGISTERED NUMBER:

04931967 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

SOLICITORS:

In-house Legal Team

Coventry City Council

The Council House

Earl Street

Coventry

CV1 5RR

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The Company is a wholly owned subsidiary of Coventry Municipal Holdings Limited, and its ultimate parent undertaking and ultimate controlling party is Coventry City Council. The Company's main activity is to provide resource solutions to Coventry City Council under a series of contracts. Resources are either employed by Coventry Technical Resources Ltd directly or contracted from time to time as needs arise. The company employed 3 staff on average during the year and previous year. Payroll services are provided by Coventry City Council under contract.

REVIEW OF BUSINESS

The accounts have been prepared under FRS 101. The results for the year ended 31 March 2026 report a net profit before tax of £5,201 (2025: £48,648). In the comparative year, the Company provided a one-off short term commercial intercompany loan to Tom White Waste Limited. This was repaid in full plus interest in January 2025. The net profit generated in the comparative year primarily relates to this transaction. At the balance sheet date, the company has total equity of £2,828,633 (2025: £2,823,432), and cash and cash equivalents balance of £2,805,921 (2025: £2,840,039).

RESEARCH AND DEVELOPMENT

No specific research and development activities have been undertaken during the year.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

Mr G McKelvie

Mrs P Mudhar

Other changes in directors holding office are as follows:

Ms S Newing - resigned 16 December 2025

Mrs S Chilton - appointed 19 December 2025 - resigned 4 March 2026

Mr P Helm , Mr P Fahy and Ms M Pangli were appointed as directors after 31 March 2026 but prior to the date of this report.

PAYMENTS TO SUPPLIERS

The company's standard terms of payment are 30 days from the date payment is due, receipt of invoice or delivery of goods, whichever is the later. Alternative payment terms are only made if specifically demanded for contractual purposes.

CHARITABLE AND POLITICAL DONATIONS

There have been no charitable or political donations made in the period.

DIRECTORS' AND OFFICERS' LIABILITY INSURANCE

The Directors' and Officers' Liability Insurance policy covers damages and costs arising from any 'wrongful act' by the Directors. Wrongful act covers libel, slander, error, misstatement, misleading statement, misrepresentation, omission, neglect, breach of warranty of authority or other act attempted or committed by any or all of the Directors when acting or serving in that capacity. The limit of indemnity is £5m.

EQUAL OPPORTUNITIES

The Company has complied with the equal opportunities policies of the Council, as the ultimate owner of the Company, that in summary are:

- Everybody should have an equal opportunity to contribute to and benefit from society.

- A diverse community is a positive asset to the City.

PARENT COMPANY

Coventry Municipal Holdings Ltd became the parent company on 5th November 2021. There was no change in ownership of the company throughout the year or since the balance sheet date.

DIRECTORS' RESPONSIBILITIES STATEMENT

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Luckmans Duckett Parker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr G McKelvie - Director

15 October 2026

Opinion

We have audited the financial statements of Coventry Technical Resources Limited (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

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

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

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

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

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

Our approach involved designing audit procedures by tailoring and directing testing to aid and support the determined level of risk.

In response, the procedures we perform to determine the level of risk include:

-

reference to history and experience of the Entity; and

-

enquiry of management, including obtaining and reviewing supporting documentation concerning the Entity's procedures relating to:

-

identifying and complying with laws and regulations and whether they were aware of any instances of non-compliance; and

-

detection and response to risk of fraud and whether they were aware of any actual or suspected instances of fraud; and

-

assessment of the controls and processes that the Entity has in place to mitigate risk.

Our assessments included the identification of the following potential areas for fraud:

-

management override of control; and

-

revenue recognition, particularly in respect of delivery of services

These procedures, and the extent to which they are capable of detecting irregularities, including fraud are detailed below:

-

critically assessed the appropriateness and testing the application of the revenue and cost recognition policies; and

-

testing the appropriateness of accounting estimates, journals and other adjustments made in the preparation of the financial statements; and

-

reviewing the Entity's accounting policies for non-compliance with relevant standards; and

-

making enquiries of management and reviewing correspondence with the relevant authorities to identify any irregularities or instances of non-compliance with laws and regulations.

In performing an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit process.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion or override of internal controls. There are inherent limitations in the audit procedures performed.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Ashwani Rishiraj FCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

15 October 2026

TURNOVER

314,530

300,355

Administrative expenses

313,471

301,707

OPERATING PROFIT/(LOSS)

1,059

(1,352

)

Interest receivable and similar income

4,142

50,000

PROFIT BEFORE TAXATION

4

5,201

48,648

Tax on profit

5

-

-

PROFIT FOR THE FINANCIAL YEAR

5,201

48,648

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

5,201

48,648

CURRENT ASSETS

Debtors

6

61,327

616

Cash at bank

2,805,921

2,840,039

2,867,248

2,840,655

CREDITORS

Amounts falling due within one year

7

38,615

17,223

NET CURRENT ASSETS

2,828,633

2,823,432

TOTAL ASSETS LESS CURRENT LIABILITIES

2,828,633

2,823,432

CAPITAL AND RESERVES

Called up share capital

8

1,758,062

1,758,062

Share premium

31,430,999

31,430,999

Retained earnings

9

(30,360,428

)

(30,365,629

)

SHAREHOLDERS' FUNDS

2,828,633

2,823,432

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2026 and were signed on its behalf by:

Mrs P Mudhar - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2024

1,758,062

(30,414,277

)

31,430,999

2,774,784

Changes in equity

Total comprehensive income

-

48,648

-

48,648

Balance at 31 March 2025

1,758,062

(30,365,629

)

31,430,999

2,823,432

Changes in equity

Total comprehensive income

-

5,201

-

5,201

Balance at 31 March 2026

1,758,062

(30,360,428

)

31,430,999

2,828,633

1.	STATUTORY INFORMATION

Coventry Technical Resources Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The financial statements have been prepared on a going concern basis. In forming this view, the Directors have considered the following factors.

The Company provides resource solutions to Coventry City Council with terms agreed in a contract ahead of any employment. All costs in relation to the provision of services are met through the charges applied to the Council which includes salaries plus other employments costs and a small margin to cover any overheads.

The company has sufficient cash resources to meet the ongoing costs of operation due to the contractual payments it receives from the Council and existing cash balances. This demonstrates the company has sufficient resources to continue to operate as a going concern.

The Directors have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future and have therefore prepared the financial statements on the going concern basis.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;

•

the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;

•

the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued Operations;

•

the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;

•

the requirements of IFRS 7 Financial Instruments: Disclosures;

•

the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

•

the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases;

the requirements of paragraph 58 of IFRS 16;

•

the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;

•

the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:

-

paragraphs 53(a), (h) and (j) of IFRS 16;

-

paragraph 79(a)(iv) of IAS 1;

-

paragraph 73(e) of IAS 16 Property, Plant and Equipment;

-

paragraph 118(e) of IAS 38 Intangible Assets;

-

paragraphs 76 and 79(d) of IAS 40 Investment Property; and

-

paragraph 50 of IAS 41 Agriculture;

•

the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

•

the requirements of

-

paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and

-

paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7;

•

the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

•

the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;

•

the requirements of paragraph 74(b) of IAS 16;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

•

the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Turnover

Revenue is recognised at the fair value of the consideration received or receivable net of VAT and trade discounts. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue is recognised when the company satisfies a performance obligation. The policies adopted for the recognition of revenue are as follows:

Management and administrative services

Revenue arises from the provision of management and administrative services to other entities within the corporate group. The company's performance obligation under the contract is to provide ongoing management support, administrative oversight, and related services.

The revenue recognised includes both direct management service fees and the recharge of expenditure incurred in delivering these services. Revenue is measured on the basis of the costs incurred in providing the services, with a recharge applied on a cost or cost-plus basis, as applicable.

The performance obligation is satisfied over time, as the services are delivered and the customer simultaneously receives and consumes the benefits of the services provided. Accordingly, revenue is recognised in the accounting period in which the related services and associated expenditure are incurred and recharged.

Invoices are raised periodically (typically monthly or quarterly) and are payable within 30 days.

Financial instruments

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

Financial assets

The company's financial assets relate to trade and other receivable and cash and cash equivalents. Trade and other receivables are classified as loans and receivables and are measured initially at fair value plus transaction costs and are carried subsequently at amortised cost under the effective interest method, less provision for any impairment. Any change in their value through impairment or reversal of impairment is recognised in the statement of comprehensive income. There are no financial assets classified as fair value through the statement of comprehensive income or as held to maturity or available for sale.

Financial liabilities

Financial liabilities, which include bank loans, overdrafts and trade and other payables are initially measured at fair value net of transaction costs under the effective interest method and thereafter at amortised cost. Finance charges are accounted for on an accruals basis in the statement of comprehensive income using the effective interest method.

Taxation

Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

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

Employee benefit costs

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

3.	EMPLOYEES AND DIRECTORS

31.3.26

31.3.25

£

£

Wages and salaries

229,831

221,522

Social security costs

32,008

27,373

Other pension costs

19,234

18,637

281,073

267,532

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

31.3.26

31.3.25

Business development

3

3

31.3.26

31.3.25

£

£

Directors' remuneration

-

-

4.	PROFIT BEFORE TAXATION

The profit before taxation is stated after charging:

31.3.26

31.3.25

£

£

Auditors' remuneration

3,828

3,717

5.

TAXATION

Analysis of tax expense

No liability to UK corporation tax arose for the year ended 31 March 2026 nor for the year ended 31 March 2025.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade receivables

61,128

616

Prepayments and accrued income

199

-

61,327

616

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade payables

427

-

Social security and other taxes

23,536

4,144

Other creditors

9,716

8,981

Accruals and deferred income

4,936

4,098

38,615

17,223

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

1,758,062

Ordinary shares

£1

1,758,062

1,758,062

Each Ordinary share confers upon the holder of that share one vote on a show of hands and one vote per share on poll. Each share shall have full rights to receive dividends and capital distributions (including on wind up). They do not confer any rights of redemption.

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2025

(30,365,629

)

31,430,999

1,065,370

Profit for the year

5,201

-

5,201

At 31 March 2026

(30,360,428

)

31,430,999

1,070,571

10.	EVENTS AFTER THE REPORTING PERIOD

After the reporting date, the company advanced a loan to another group undertaking. The loan represents a non-adjusting event and, accordingly, no adjustment has been made to the financial statements.

11.	PARENT COMPANY

The smallest group undertaking in which the results are consolidated is that headed by Coventry Municipal Holdings Limited. These consolidated financial statements are available to the public and may be obtained from Council House, Earl Street, Coventry, United Kingdom, CV1 5RR.

The ultimate parent entity is Coventry City Council.