Company registration number 13059508 (England and Wales)
WJ Group Infrastructure Limited
Annual report and financial statements
For the period ended 31 March 2025
WJ Group Infrastructure Limited
Company information
Directors
Mr T J Trevelyan
Mr W D Johnston
Mr S M Tabellion
Mr D J B Taylor-Smith
Mr A Lawley
Mr N Johnson
(Appointed 21 November 2024)
Company number
13059508
Registered office
Unit 7 Brock Way
Newcastle under Lyme
Staffordshire
ST5 6AZ
Auditor
DJH Audit Limited
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
WJ Group Infrastructure Limited
Contents
Page
Strategic report
1 - 6
Directors' report
7 - 8
Independent auditor's report
9 - 11
Statement of comprehensive income
12
Statement of financial position
13
Statement of changes in equity
14
Notes to the financial statements
15 - 29
WJ Group Infrastructure Limited
Strategic report
For the period ended 31 March 2025
- 1 -

The directors present the strategic report for the period ended 31 March 2025.

 

INTRODUCTION

WJ Group Infrastructure Limited ("the company") was incorporated on 3rd December 2020 and began trading on this date. It is a subsidiary of WJ Group Holdings Limited.

The WJ Group is the UK’s leading road marking and highway safety business. It delivers high-performance, award-winning solutions to the strategic road network, local authority and private markets. WJ creates safe, sustainable journeys for everyone.

The group has grown rapidly over the years both organically and through a number of strategic acquisitions.

The company is the parent of WJ (Group) Limited. The trading subsidiaries of WJ (Group) Limited provide temporary and permanent road and off highways markings using a wide range of applications and products. These companies install road studs, both reflective and active (solar). They provide a range of safety related surface treatments, including retexturing, high friction surfacing and pothole repair systems. Their retexturing fleet is the largest in the UK and they have a high friction surface product that is widely used across the strategic road network.

The Intelligent Traffic Solutions (ITS) division commissions and installs a variety of safety critical systems aimed at temporary works on the highways, including wireless CCTV, stopped vehicle detection, average speed cameras, automatic number plate recognition (ANPR) cameras and air quality monitoring. This division has been strengthened during the period through the acquisition of Sunstone Systems. Sunstone were providers of the autonomous renewable power generation devices that the ITS business uses to power various IoT devices such as ANPR cameras, Average Speed cameras, and traffic monitoring radar. The acquisition created WJ Sunstone which will work independently of the ITS business to continue to market to a diverse range of sectors which require power for connected devices.

The companies support highways authorities managing their road marking assets by surveying and digitising their road marking networks and then providing consultancy services to help them prioritise appropriate treatments.

The WJ Group has a Verified Science Based Target to deliver against the Paris Agreement by 2042, based on lowering embodied carbon in our materials to zero, switching to zero emission vehicles as technology allows and off-setting carbon through the planting of a forest.

The companies engineering and fabrication capabilities allow the wider group to rapidly develop and bring to market road marking products and systems using the largely self-delivered fleet of road marking vehicles. This includes launching the world’s first electric powered thermoplastic road marking truck in the summer of 2025. Using alternative power to replace fossil fuels is a key part of the wider groups operational commitment to be carbon neutral by 2042.

With industry leading R&D capability in WJ Products and ACBWJ critical in the development of new and innovative road marking products, WJ Group proudly launched RapidLine, a UV cured cold applied road marking system, in summer 2025. The first of its kind to launch on the UK market, RapidLine is the group’s response to an evolving interest in cold applied systems. The instant curing of the material, when exposed to intense UV light, means road closures and traffic management can be reduced, a significant saving for clients during the installation process of road markings.

The group’s transformation into a data driven business, with THI’s support and investment, is continuing following the go live of the second phase of group wide ERP system in March 2024.

WJ Groups employees are their most valuable asset and WJ Group provides a supportive, developmental, and inclusive work environment. This period the group launched inclusive talent acquisition initiatives, such as the Forces Covenant Agreement and Disability Confident Employer. They strengthened ties with educational institutions and continued leadership development to ensure a sustainable high performing team for the future.

WJ Group Infrastructure Limited
Strategic report (continued)
For the period ended 31 March 2025
- 2 -

Safety is core to WJ. The ‘Safer Together’ Strategy, launched in 2025 and strives to achieve zero accidents by creating an environment where every employee is empowered to take ownership of their health and safety and that of those around them. The ‘Safer Together’ Strategy focusses on Health and Safety (H&S) priorities across the WJ Group for the next five years ensuring the group deliver works through safe people, safe places and safe processes supported by a culture that acts safely, without compromise.

SOCIAL VALUE INDICATORS

Community is a WJ Core Value. Social Value is tracked by WJ Group using the National TOMs Framework. Performance is tracked against the Themes, Outcomes and Measures (TOMs) described in the system. These are: Work, the employment opportunities provided; Economy, where money is spent and how that delivers inclusive growth; Community, how the group delivers for the communities where their employees live and work; Planet, that is environmental stewardship and the group’s contribution to this locally and nationally. The numbers generated are then verified by Planet Mark on behalf of Social Value Portal.

REVIEW OF BUSINESS

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

The financial statements presented are for a period of 14 months rather than 12 months in order to align the period end more appropriately with internal business processes and external customers fiscal years. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable as a result.

Turnover for the 14 month period is £10,879,548. Not withstanding the 14 month period vs the prior period of 12 months, turnover increased by over 24% due to increased costs being recharged to group companies during the year.

Total net assets at the end of the period decreased from £66,343,381 to £54,497,658 reflecting the loss in the period.

WJ Group Infrastructure Limited
Strategic report (continued)
For the period ended 31 March 2025
- 3 -
PRINCIPAL RISKS AND UNCERTAINTIES

Due to the nature of the company being a holding company, it does not have any principal risks or uncertainties directly.

The company could be affected however if subsidiary companies trade is impacted for any given reasons. Below are the principal risks and uncertainties for the company’s subsidiaries:

Government Spending Decisions – the companies recognise that the majority of their income derives from government sources and they play an active role, through a number of trade bodies and associations, in promoting and developing the safety, effectiveness and sustainability of their products and services in line with evolving Department of Transport and Local Authorities priorities. We believe that Government investment in the UK road infrastructure will be maintained.

Competition – the companies differentiate themselves from the competition by continued efforts in R&D and Innovation and a strategy of delivering safer and more sustainable products and services. The companies have made strategic investments to develop the UK largest nationwide network and have diversified into adjacent markets and geographies to enable them to stay ahead of the evolving competitor base.

Materials Supply – the companies have developed an internal supply chain for the bulk of the products they use and have developed strong partnerships in areas where internal production is not possible. The companies work closely with their raw materials supply chains and utilise group buying power to ensure that availability of product is robust and that pricing is sustainable.

Fuel and Energy Prices – the companies are not immune to the impact of rising fuel and energy prices but the effect is mitigated through the maintenance and upgrading of a modern fleet of fuel efficient vehicles and an industry leading driver awareness training programme and incentivisation scheme which leads to improved fuel consumption and a reduction in the companies carbon footprint. The companies are registered under the Energy Savings Opportunity Scheme (ESOS) and are committed to reducing energy consumption to both combat price fluctuations but also reinforce their commitment to reducing their carbon footprint.

FINANCIAL INSTRUMENT RISK

Due to the nature of the company being a holding company, it does not have any major financial instrument risks directly.

The company could be affected however if subsidiary companies trade is impacted for any given reason.

Below are the financial instrument risks for the subsidiaries:

Credit Risk – the companies have a broad range of customers including both private companies and public sector bodies. The risk that the companies will suffer from significant levels of bad debt is managed by the diversified customer portfolio and the well established credit control procedures operated across the companies.

Cash Flow Risk – the companies are funded through a combination of Hire Purchase funding, a Term Loan, a Revolving Credit Facility and an Acquisition Facility.

Liquidity Risk – the companies are able to meet short and medium term obligations from operational cash generation and in addition have access to in excess of £14m of undrawn committed facilities.

 

WJ Group Infrastructure Limited
Strategic report (continued)
For the period ended 31 March 2025
- 4 -
KEY PERFORMANCE INDICATORS

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover and net assets. The success of the company will be reflected in the balance sheet net assets and company liquidity.

 

             2025 2024         

Turnover     £10,879,548     £8,750,172             

Net assets     £54,497,658 £66,343,381

 

Explanation of the key performance indicators detailed above can be found in the review of business section of this report.

 

Due to this company being a holding company, there are no non-financial key performance indicators.

Section 172(1) Statement

The WJ Group Board believe being a responsible business gives us a social licence to operate. We actively engage our stakeholder community including, employees, suppliers, clients, and communities. Endeavouring through our actions to create shared value through positive contribution to economic, social, and environmental value in the communities we work, live, and serve. In this way contributing to the future sustainable development of the nation and aiding the delivery of the Sustainable Development Goals. Set out briefly here under this S172 Statement, taking into account factors (a) to (f):

(a)    the likely consequences of any decision in the long term.

The WJ Board manage the risks of the prevailing business environment ‘To Deliver Safe Sustainable Journeys for All’ a vision that embodies the ethos of the organisation. WJ have four core values: Safety, Delivery, Innovation and Community. Through delivery of this vision and these values we aim to enhance our position as the leading UK providers of road markings; safety surfacing and retexturing; road marking products and equipment; Intelligent Traffic Solutions, Off Highway and Maritime Surface Preparation, for the long term. WJ are committed to continually improve economic, environmental, and social value for our staff, clients, supply chain and the communities we serve.

At all Board Meetings the Board consider the present position of the WJ Group Companies and how that impacts our stakeholders. We record, maintain, audit and review in our management systems a documented Group Stakeholders Needs and Expectations Analysis. Board Meetings further review current strategy and actively seek opportunities to improve safety, innovation, delivery, and community to continue our success for the benefit of The Group, its stakeholders and wider social licence.

(b)    the interests of the company’s employees.

WJ Board recognise empowered people are fundamental to the success of our business; to delivering successful services meeting the needs our clients; our communities and to the protection and improvement of our environment. To do this we must not only be a responsible employer but a responsive one too; provide industry leading pay and conditions; where our people are safe, treated with fairness, inclusion, and respect; where everyone is valued, invested in, and has an equal opportunity to progress their career.

WJ Group Infrastructure Limited
Strategic report (continued)
For the period ended 31 March 2025
- 5 -

Safety is imperative to us and WJ. We research and develop equipment and processes that remove and reduce risks, strive to remove vulnerable road workers from the carriageway and introduce further innovative machinery and processes that protect our people and the travelling public alike. We recognise our interdependence with the environment in which we operate, safe systems are the key to preventing harm. Living our values, employing regular structured and interactive training; from onboarding and teaching essential skills through the entire employment lifecycle at whatever level within the organisation. Through The People Team and the WJ Training Academy considering the whole life wellbeing of our people not just the physical but the mental, financial, and social equally. WJ are active participants in local, sectoral, national, and international work on improving safety and the working environment. The interests of our employees are measured through surveys, encouraged at regular meetings and Sharing Knowledge events. Our long established and continually improved Safety Observation System is designed to capture HSEQ near misses; opportunities for improvement in equipment, systems and behaviours whilst also providing the opportunity to highlight good practice. Regular feedback is given to our people through our ‘You Said, We Did,’ system. Our Voices of Women group are supported as allies in our work to improve equity in our industry along with support for Fairness inclusion and Respect in Construction, the Supplier Diversity Forum, the Race at Work and People Matter Charters. We are further looking to the future through pan industry collaboration with BITC’s Green Skills Lab working on a Just Transition to Net Zero.

(c)    The need to foster the company’s business relationships with suppliers, customers and others.

Business relationships are fundamental to all businesses and in this complex and fast changing world we all inhabit crucial to our success. We work very closely with customers and suppliers to understand their needs so that we can tailor our products and services to meet or exceed our delivery requirements. We track performance through regular internal and external meetings and discussions up and down our value chain to aid decision making, enhance customer focus and enable our supply chain. This will include formal collaborative agreements (assessed to ISO 44001) and client, customer, and community performance groups. We recently achieved PAS 2080 ‘Carbon Management in Infrastructure and Built Environment’ certification, this is a collaborative standard which necessitates us being active participants in collaborative events where we listen, understand, share knowledge, and contribute creatively to reducing global emissions. Our operations are critical to delivering a safe sustainable highways network, we align with our supply chain to deliver the holistic service the end user, one that delivers safer sustainable journeys for all. Investment and financial security are fundamental to meeting the needs of our clientele. Working openly and closely with our financial stakeholders strengthens WJ and gives confidence to clients and suppliers alike that we are financially secure, pay promptly and enhance supply chain sustainability, innovation, and capacity.

(d)    the impact of the company’s operations on the community and the environment.

The WJ Board understand our services have a significant positive impact on the community and our environment. Road markings, high friction surfacing, and our intelligent traffic solutions are all designed to make journeys safer more and efficient. This in and of itself is delivering considerable social and environmental value. Community is a core value for WJ that means delivering great social and environmental value in a well governed structure. We as an organisation play our part in delivering sustainable economic growth; tackling economic inequality; fighting climate change; aiding equal opportunity and supporting wellbeing. WJ have signed up to the Science Based Target Initiative to deliver against the Paris Agreement, based on lowering embodied carbon in our materials to zero, switching to zero emission vehicles as technology allows and insetting carbon through the planting of a forest. In our operations, road users, communities and the environment are considered at all times. To ensure we reduce and mitigate negative impacts of our operations upon them whist creating new jobs, business opportunities and skills. WJ through innovation in the design of materials, plant and machinery strive to increase the lifecycle of our materials. With less interventions we serve our communities and environment through reduced carbon emissions, less waste and improved air quality. WJ through innovative thinking greatly reduced embodied carbon in materials by circa 80% independently verified to ISO 14067 and PAS 2050 through collaborative work with our supply chain and developing the use of biogenic componentry. This aligns WJ with our community and environments needs.

WJ Group Infrastructure Limited
Strategic report (continued)
For the period ended 31 March 2025
- 6 -

WJ have an active community engagement program ‘Thinking Community.’ We understand that it is difficult to manage what you can’t measure and have built an independently audited and accredited Social Value Calculator. The Board understand that for an organisation that works mostly for public sector organisations whether at Tiers 1, 2 or 3 level creating additional Social Value is critical to us, our clientele and the nation as a whole. This synergises with the ‘Community’ value’ of WJ, our people and our stakeholder communities to make a positive contribution to society.

(e) the desirability of the company maintaining a reputation for high standards of business conduct; and

The Board know that having a strong governance framework that is economically, environmentally, and socially responsible is fundamental to the development of our business. To this end the Board regularly reviews its policies and promotes ethical behaviour, actively encouraging equity, diversity, inclusion, and access and promoting support for disadvantaged groups. WJ is further engaged in promoting better understanding of the abhorrent practice of Modern Slavery. WJ are independently audited by Planet Mark on our carbon reduction targets, local social and economic value and BITC through the ‘Responsible Business Tracker’ on our response to the United Nations Sustainable Development Goals.

(f) the need to act fairly between members of the company.

WJ take the ethos of fairness, inclusion, and respect as pillars of our social contract as an organisation. This is a key part of our induction process and sets of the tenets of the behaviours we expect as an organisation. As a company working primarily for the public sector, we understand that the Public Sector Equality Duty of our clients is fundamental and that these standards are a minimum not an aspiration. It would be short sighted in the extreme for us as a Board not to consider the impacts of all the decisions that we make without considering our people, our wider stakeholders and the environment.

On behalf of the board

Mr N Johnson
Director
7 August 2025
WJ Group Infrastructure Limited
Directors' report
For the period ended 31 March 2025
- 7 -

The directors present their annual report and financial statements for the period ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of a holding company.

Results and dividends

The results for the period are set out on page 12 onwards.

No ordinary dividends were paid (2024 - £nil). The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mr T J Trevelyan
Mr M Kotecha
(Resigned 10 April 2024)
Mr W D Johnston
Mr M Webb
(Resigned 25 April 2025)
Mr S M Tabellion
Mr G M Andrews
(Resigned 23 October 2024)
Mr D J B Taylor-Smith
Mr A Lawley
Mr N Johnson
(Appointed 21 November 2024)
Energy and carbon report

The company has taken advantage of the available exemption not to disclose energy and carbon reporting in accordance with the Environment Reporting Guidelines. This information is included in the group directors report of WJ Group Holdings Limited.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial period. 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:

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.

WJ Group Infrastructure Limited
Directors' report (continued)
For the period ended 31 March 2025
- 8 -
Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Forward-looking statements

Where the financial statements contains forward-looking statements, these are based on current expectations and assumptions and are subject to risk factors and uncertainties which the Directors believe are reasonable. Accordingly, the Company's actual future results may differ materially from the results expressed or implied in these forward-looking statements. We do not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

On behalf of the board
Mr N Johnson
Director
7 August 2025
WJ Group Infrastructure Limited
Independent auditor's report
To the member of WJ Group Infrastructure Limited
- 9 -
Opinion

We have audited the financial statements of WJ Group Infrastructure Limited (the 'company') for the period ended 31 March 2025 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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:

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 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 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. 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.

WJ Group Infrastructure Limited
Independent auditor's report (continued)
To the member of WJ Group Infrastructure Limited
- 10 -

Opinions on other matters prescribed by the Companies Act 2006

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

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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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.

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.

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:

WJ Group Infrastructure Limited
Independent auditor's report (continued)
To the member of WJ Group Infrastructure Limited
- 11 -

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

 

To address the risk of fraud through management bias and override of controls, we:

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.

Gary Chadwick FCCA (Senior Statutory Auditor)
For and on behalf of DJH Audit Limited, Statutory Auditor
Accountants
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
7 August 2025
WJ Group Infrastructure Limited
Statement of comprehensive income
For the period ended 31 March 2025
- 12 -
14 months
12 months
ending
ending
31 March
31 January
2025
2024
Notes
£
£
Turnover
3
10,879,548
8,750,172
Administrative expenses
(12,376,598)
(9,350,553)
Exceptional item
4
(1,378,252)
-
0
Operating loss
5
(2,875,302)
(600,381)
Interest receivable and similar income
9
457,058
309,640
Interest payable and similar expenses
10
(8,873,710)
(7,332,289)
Loss before taxation
(11,291,954)
(7,623,030)
Tax on loss
11
(553,769)
-
0
Loss for the financial period
(11,845,723)
(7,623,030)

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

WJ Group Infrastructure Limited
Statement of financial position
As at 31 March 2025
31 March 2025
- 13 -
31 March 2025
31 January 2024
Notes
£
£
£
£
Fixed assets
Intangible assets
12
1,980,629
105,396
Tangible assets
13
108,274
286,329
Investments
14
134,887,296
134,887,296
136,976,199
135,279,021
Current assets
Debtors
16
27,296,389
18,623,410
Cash at bank and in hand
223,600
-
0
27,519,989
18,623,410
Creditors: amounts falling due within one year
17
(4,949,936)
(1,626,163)
Net current assets
22,570,053
16,997,247
Total assets less current liabilities
159,546,252
152,276,268
Creditors: amounts falling due after more than one year
18
(104,494,825)
(85,932,887)
Provisions for liabilities
Deferred tax liability
20
553,769
-
0
(553,769)
-
Net assets
54,497,658
66,343,381
Capital and reserves
Called up share capital
22
83,233,833
83,233,833
Profit and loss reserves
23
(28,736,175)
(16,890,452)
Total equity
54,497,658
66,343,381
The financial statements were approved by the board of directors and authorised for issue on 7 August 2025 and are signed on its behalf by:
Mr N  Johnson
Director
Company registration number 13059508 (England and Wales)
WJ Group Infrastructure Limited
Statement of changes in equity
For the period ended 31 March 2025
- 14 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 February 2023
83,233,833
(9,267,422)
73,966,411
Year ended 31 January 2024:
Loss and total comprehensive income
-
(7,623,030)
(7,623,030)
Balance at 31 January 2024
83,233,833
(16,890,452)
66,343,381
Period ended 31 March 2025:
Loss and total comprehensive income
-
(11,845,723)
(11,845,723)
Balance at 31 March 2025
83,233,833
(28,736,175)
54,497,658
WJ Group Infrastructure Limited
Notes to the financial statements
For the period ended 31 March 2025
- 15 -
1
Accounting policies
Company information

WJ Group Infrastructure Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Brock Way, Newcastle under Lyme, Staffordshire, ST5 6AZ.

 

Basis of preparation

The financial statements are prepared on a going concern basis, under the historical cost convention.

The preparation of financial statements in conformity with FRS102 requires the use of certain accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies.

1.1
Reporting period

The financial statements presented are for a period of 14 months rather than 12 months in order to align the period end more appropriately with internal business processes. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable as a result.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of WJ Group Holdings Limited. These consolidated financial statements are available from its registered office. Unit 7 Brock Way, Newcastle under Lyme, Staffordshire, United Kingdom, ST5 6AZ.

Preparation of consolidated financial statements

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

WJ Group Infrastructure Limited is a wholly owned subsidiary of WJ Group Holdings Limited and the results of WJ Group Infrastructure Limited are included in the consolidated financial statements of WJ Group Holdings Limited which are available from Unit 7 Brock Way, Newcastle under Lyme, Staffordshire, United Kingdom, ST5 6AZ.

 

WJ Group Holdings Limited is the smallest group for which consolidated accounts are prepared.

WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 16 -

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other group entities where the relationship is one of being wholly owned.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from management charges to group companies are recognised on a monthly basis when income can be estimated reliably.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Software
10% on cost
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on cost
Computers
33.33% on cost
Motor vehicles
33.33% on cost
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 17 -

On 1 March 2024, the company changed depreciation rates to those noted above. The depreciation rates listed below are those used in the prior period:

 

Plant and equipment              25% reducing balance

Computers                 50% straight line

Motor vehicles                 35% reducing balance

 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.7
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use.

 

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.10
Financial instruments

The company 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 company's statement of financial position when the company 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.

WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 18 -
Basic financial assets

Basic financial assets, which include debtors, cash and bank balances and loans from fellow group companies are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans due to fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

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

WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 19 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 20 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is only recognised as an accrual at the end of each statutory financial period.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

Critical judgements

In the directors' opinion there are no critical judgements that they have made in applying the company's accounting policies and that have had a significant effect on the amounts recognised in the financial statements.

 

Key sources of estimation uncertainty

The directors do not consider there to be any key estimates or assumptions used in preparing the financial statements.

3
Turnover
2025
2024
£
£
Turnover analysed by class of business
Management charges
10,879,548
8,750,172
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 21 -
4
Exceptional item
2025
2024
£
£
Expenditure
Exceptional items
1,378,252
-

Exceptional items are non-recurring items which are material in size or in nature and are outside of the company's ordinary activities. These include items relating to one-off project costs and M&A related costs incurred during the period.

5
Operating loss
2025
2024
Operating loss for the period is stated after charging/(crediting):
£
£
Exchange losses
148,423
-
0
Depreciation of owned tangible fixed assets
100,082
139,246
Profit on disposal of tangible fixed assets
(10,356)
(1,941)
Amortisation of intangible assets
217,435
-
Operating lease charges
166,241
65,420
6
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
10,250
7,000
For other services
Audit-related assurance services
2,000
900
Taxation compliance services
2,475
2,350
All other non-audit services
11,049
55,423
15,524
58,673
7
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Directors
5
5
Staff
68
64
Total
73
69
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
7
Employees
(Continued)
- 22 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
6,035,736
4,740,824
Social security costs
605,031
608,651
Pension costs
396,056
223,295
7,036,823
5,572,770
8
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
1,334,938
1,036,085
Company pension contributions to defined contribution schemes
83,599
38,370
Compensation for loss of office
319,490
-
0
1,738,027
1,074,455

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
369,489
260,238
9
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
1,028
-
0
Interest receivable from group companies
456,030
309,640
Total income
457,058
309,640
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 23 -
10
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
8,873,710
6,672,418
Interest payable to group undertakings
-
0
659,444
Other interest
-
0
427
8,873,710
7,332,289
11
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
553,769
-
0

The actual charge for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(11,291,954)
(7,623,030)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 24.03%)
(2,822,989)
(1,831,814)
Tax effect of expenses that are not deductible in determining taxable profit
49,886
28,519
Effect of change in corporation tax rate
-
0
9,122
Group relief
2,980,138
1,640,511
Under/(over) provided in prior years
2,171
-
0
Enhanced super deduction allowance
-
0
(1,304)
Interest restricted under CIR
-
0
390,090
Deferred tax asset not recognised in the prior year
-
0
(275,059)
Deferred tax asset not recognised in the current year
-
0
39,935
Exceptional items
344,563
-
0
Taxation charge for the period
553,769
-
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 24 -
12
Intangible fixed assets
Software
£
Cost
At 1 February 2024
105,396
Additions
2,092,668
At 31 March 2025
2,198,064
Amortisation and impairment
At 1 February 2024
-
0
Amortisation charged for the period
217,435
At 31 March 2025
217,435
Carrying amount
At 31 March 2025
1,980,629
At 31 January 2024
105,396
13
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2024
1,991
43,801
379,733
425,525
Additions
-
0
30,035
-
0
30,035
Disposals
-
0
-
0
(206,750)
(206,750)
At 31 March 2025
1,991
73,836
172,983
248,810
Depreciation and impairment
At 1 February 2024
83
13,795
125,318
139,196
Depreciation charged in the period
471
19,655
79,956
100,082
Eliminated in respect of disposals
-
0
-
0
(98,742)
(98,742)
At 31 March 2025
554
33,450
106,532
140,536
Carrying amount
At 31 March 2025
1,437
40,386
66,451
108,274
At 31 January 2024
1,908
30,006
254,415
286,329
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 25 -
14
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
15
134,887,296
134,887,296
15
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
Indirect
WJ (Group) Limited
1
Holding company
Ordinary
100.00
-
WJ South Limited
2
Roadmarking contracting
Ordinary
0
100.00
WJ Products Limited
2
Manufacture of road marking products
Ordinary
0
100.00
WJ South West Limited
3
Roadmarking contracting
Ordinary
0
100.00
WJ Sunstone Limited
2
Delivery of clean power solutions
Ordinary
0
100.00
Textureblast Limited
3
Road surface retexturing
Ordinary
0
100.00
Bellstan Limited
4
Dormant company
Ordinary
0
100.00
JMS Lincoln Limited
1
Road surface preparation
Ordinary
0
100.00
WJ North Limited
1
Roadmarking contracting
Ordinary
0
100.00
Nolan Roadmarking Ltd
5
Roadmarking contracting
Ordinary
0
100.00
JMS Highways Limited
6
Road surface preparation
Ordinary
0
100.00
WJ Surface Treatments LLC
7
Roadmarking contracting
Ordinary
0
100.00
WJ Group USA Holdings Inc.
8
Holding company
Ordinary
100.00
-
WJ Vehicle and Plant Limited
1
Build and repair of vehicle and plant
Ordinary
0
100.00

Registered office addresses (all UK unless otherwise indicated):

1
Unit 7 Brock Way, Newcastle under Lyme, Staffordshire, ST5 6AZ
2
Brook Farm, Drayton Road, Newton Longville, Milton Keynes, Buckinghamshire, MK17 0BH
3
Tremayne House Westpark, Chelston, Wellington, Somerset, TA21 9AD
4
Unit 1 Brunel House, Station Road, Mortimer, Reading, RG7 2AB
5
Unit 5 Seaway Parade Industrial Estate, Baglan, Port Talbot, West Glamorgan, Wales, SA12 7BR
6
C/O Azets, Units 15-16, The Courtyard, Carmanhall Road, Sandyford, Dublin 18, Republic of Ireland
7
1040 Crown Pointe Parkway NE, Suite 900, Atlanta, GA 30338, USA
8
Corporation Trust Center, 1209 Orange St, Wilmington, DE 19801, USA
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 26 -
16
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,141
9,296
Amounts owed by group undertakings
6,589,328
5,352,385
Other debtors
1,588,834
207,124
Prepayments and accrued income
827,028
669,020
9,009,331
6,237,825
2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
18,287,058
12,385,585
Total debtors
27,296,389
18,623,410

Amounts owed by group undertakings due after more than one year are due between 1 and 2 years. The amounts are unsecured and interest free (2024 - interest receivable at 2.5%).

17
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans and overdrafts
19
903,867
163,461
Trade creditors
2,076,515
418,662
Amounts owed to group undertakings
68,360
192,413
Taxation and social security
340,666
206,302
Other creditors
909,532
-
0
Accruals and deferred income
650,996
645,325
4,949,936
1,626,163
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 27 -
18
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
19
62,377,980
59,555,121
Other borrowings
19
42,116,845
26,377,766
104,494,825
85,932,887

Amounts owed to group undertakings due after more than one year are due between 1 and 2 years. The amounts are unsecured and interest free (2024 - interest receivable at 2.5%).

19
Loans and overdrafts
2025
2024
£
£
Bank loans
63,281,847
59,555,121
Bank overdrafts
-
0
163,461
Loans from group undertakings
42,116,845
26,377,766
105,398,692
86,096,348
Payable within one year
903,867
163,461
Payable after one year
104,494,825
85,932,887

The long-term bank loans are secured by fixed and floating charges over the assets of the group.

 

Amounts owed to group undertakings due after more than one year are due between 1 and 2 years. Interest is payable at a rate of 2.5%. The amounts are unsecured.

20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
553,769
-
WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
20
Deferred taxation
(Continued)
- 28 -
2025
Movements in the period:
£
Liability at 1 February 2024
-
Charge to profit or loss
553,769
Liability at 31 March 2025
553,769

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

21
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
396,056
223,295

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

 

Contributions totalling £0 (2024 - £1,638) were payable to the fund at the balance sheet date and are included in creditors.

22
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
8,323,383,300
8,323,383,300
83,233,833
83,233,833

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

23
Profit and loss reserves

Profit and loss reserves represents the accumulated profits less accumulated losses and distributions up to the reporting date.

 

WJ Group Infrastructure Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 29 -
24
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
140,982
121,707
Years 2-5
58,402
175,934
199,384
297,641
25
Directors' transactions

Dividends totalling £0 (2024 - £0) were paid in the period in respect of shares held by the company's directors.

Description
Opening balance
Amounts advanced
Closing balance
£
£
£
Mr W D Johnston
-
7,950
7,950
Mr M Webb
-
7,870
7,870
-
15,820
15,820
26
Ultimate controlling party

The immediate parent company and smallest group into which the entity is consolidated is WJ Group Holdings Limited. WJ Group Holdings Limited is incorporated in England. Copies of the group financial statements of WJ Group Holdings Limited are available from Unit 7 Brock Way, Newcastle under Lyme, Staffordshire, United Kingdom, ST5 6AZ.

 

The ultimate controlling party is the THI Holdings GmbH. a company registered in Germany. THI Holdings GmbH is controlled by the Hagenmeyer family.

 

The largest group into which the entity is consolidated is THI Holdings GmbH, a company registered in Germany. Copies of the group financial statements of THI Holdings GmbH are available from THI Investments, Eberhardstraße 65, 70173 Stuttgart, Germany.

 

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