REGISTERED NUMBER: 15387491 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD

4 JANUARY 2024 TO 31 DECEMBER 2024

FOR

COAT FACILITIES GROUP LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

H R Cooper-Atkins

A Cooper-Atkins

REGISTERED OFFICE:

c/o Philip Barnes & Co Limited

The Old Council Chambers

Halford Street

Tamworth

Staffordshire

B79 7RB

REGISTERED NUMBER:

15387491 (England and Wales)

AUDITORS:

Philip Barnes & Co Limited

Chartered Accountants

Statutory Auditors

The Old Council Chambers

Halford Street

Tamworth

Staffordshire

B79 7RB

The directors present their strategic report of the company and the group for the period 4 January 2024 to 31 December 2024.

Coat Facilities Group Ltd was established in 2024 to act as the parent company for a portfolio of specialist facilities management organisations, comprising:

- Diamond Facilities Support Ltd

- Jet Through Ltd

- Sanctuary Fire & Security Ltd

- Nationwide Roofing Repairs Ltd

- Nationwide Property Clean Ltd

The Group provides a wide range of facilities management services across the UK, offering both integrated solutions and single-service lines. This flexibility ensures the Group remains competitive and accessible across multiple market sectors.

REVIEW OF BUSINESS

During its initial period, Coat Facilities Group Ltd has successfully created a robust platform for significant growth. By bringing together specialist businesses under a unified structure, the Group has strengthened its ability to offer a comprehensive, scalable service to clients.

The Group's ethos of direct employment underpins its operations, ensuring consistency, accountability, and high-quality delivery. This approach has helped build strong client relationships and supports sustainable growth.

A key differentiator for the Group is the development of its wholly owned bespoke CAFM system, enabling enhanced service management, transparency, and data-led decision making. This technology positions the Group at the forefront of innovation within the facilities management sector.

ESG

We have a formal & reportable ESG Plan with Ecovadis Accreditation and a partnership with Neutral Carbon Zone at its heart. Diamond Facilities Support Ltd is leading the way with this, with the roll out to the Group companies to follow.

ESG has been a significant activity within the latest 3 Year Strategic Business Plan including a Carbon Reduction Plan with scope 1, 2 and 3 measurements.

ESG activity is based upon the 17 UN Sustainable Development Goals:

- Poverty - we always pay above minimum wage

- Hunger - we support the Tamworth Food Bank

- Health & Wellbeing - we have a dedicated and confidential mental health line and are implementing the 'Shape' - system for health, attendance, productivity & engagement, we also have various staff awards and training

- Gender Equality - we do not distinguish based on gender or ethnicity; we are a female led business

- Clean Water - overseas projects and donations

- Affordable & Clean Energy - we promote EV cars through free EV charging for staff

- Economic Growth - our 3-year business plan includes for significant growth and employment

- Industry Innovation - we are implementing Innovation Champions & invest heavily in our own IT

- Inequality across countries - we sponsor multiple immigrant/refugee workers/families

- Sustainable Communities - we sponsor STEPS (Cerebral Palsy), MND Association, Tamworth Food Bank, Olton Ravens Boys FC

- Responsible Consumption of Natural Resources - we are partnering with Neutral Carbon Zone and looking at being carbon neutral by 2035

- Corporate Governance - we are tightly controlled operationally and financially and operate to the highest standards with ISO 9001, 14001 and 45001

Future Developments

Looking ahead, the Directors are confident about the prospects of the Group. The combination of a diverse service offering, investment in technology, and commitment to directly employed teams provides a strong foundation for expansion. The Board's strategy is focused on:

- Leveraging synergies across the Group to deliver integrated facilities management solutions.

- Driving organic growth through existing service lines while remaining open to creating new divisions or bolt-on strategic acquisitions.

- Continuing to invest in people, systems, and technology to enhance efficiency and service excellence.

The Directors believe that the Group is well positioned to capture market opportunities and achieve sustainable long-term growth. The over-arching goal is to be the leading FM Group providing great service through direct labour managed through its own wholly owned CAFM system.

Key Performance Indicators

During its initial period, the Group achieved a consolidated turnover of £13.7m with a gross profit of £3.8m (27.68% margin) and a net profit of £0.38m (2.76% margin). The Group's first period has been a success and the Directors are confident that this is a solid foundation to build on in future years.

ON BEHALF OF THE BOARD:

A Cooper-Atkins - Director

29 September 2025

The directors present their report with the financial statements of the company and the group for the period 4 January 2024 to 31 December 2024.

INCORPORATION

The group was incorporated on 4 January 2024 and commenced trading on the same date.

DIVIDENDS

The total distribution of dividends for the period ended 31 December 2024 will be £ 30,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 4 January 2024 to the date of this report.

H R Cooper-Atkins

A Cooper-Atkins

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he 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 group's auditors are aware of that information.

AUDITORS

The auditors, Philip Barnes & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A Cooper-Atkins - Director

29 September 2025

Opinion

We have audited the financial statements of COAT Facilities Group Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the period then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

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

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Group and the sector within which it operates. We determined the following laws and regulations were most significant: the Companies Act 2006, UK employment law, UK tax laws and health & safety regulations.

- We obtained an understanding of how the Group is complying with those legal and regulatory requirements by making enquiries with management, carrying out a review of the payroll functions and reviewing legal costs incurred in the year.

- We assessed the susceptibility of the Group's financial statements to material misstatement, due to fraud or error, and including how fraud might occur.

Audit procedures performed by the audit engagement team included:

- Identifying the controls that management has in place to prevent and detect fraud

- Auditing the appropriateness of accounting estimates, challenging assumptions and judgements made by management to ensure no management bias

- Testing journal entries and other adjustments made by the client to evaluate business rationale of significant transactions to ensure no management override

- Assessing extent of compliance with the relevant laws and regulations

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.

Faith Bates FCA, FCCA (Senior Statutory Auditor)

for and on behalf of Philip Barnes & Co Limited

Chartered Accountants

Statutory Auditors

The Old Council Chambers

Halford Street

Tamworth

Staffordshire

B79 7RB

29 September 2025

TURNOVER

13,668,749

Cost of sales

9,885,240

GROSS PROFIT

3,783,509

Administrative expenses

3,369,176

414,333

Other operating income

2,185

OPERATING PROFIT

4

416,518

Interest payable and similar expenses

6

39,677

PROFIT BEFORE TAXATION

376,841

Tax on profit

7

160,423

PROFIT FOR THE FINANCIAL PERIOD

216,418

Profit attributable to:

Owners of the parent

216,418

PROFIT FOR THE PERIOD

216,418

OTHER COMPREHENSIVE INCOME

Increase in fair value reserve

645,258

Amortisation of goodwill

235,722

Income tax relating to components of other comprehensive income

-

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

880,980

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,097,398

Total comprehensive income attributable to:

Owners of the parent

1,097,398

FIXED ASSETS

Intangible assets

10

2,335,793

Tangible assets

11

1,106,011

Investments

12

-

3,441,804

CURRENT ASSETS

Stocks

13

18,300

Debtors

14

3,295,981

Cash at bank

117,953

3,432,234

CREDITORS

Amounts falling due within one year

15

4,450,684

NET CURRENT LIABILITIES

(1,018,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,423,354

CREDITORS

Amounts falling due after more than one year

16

(334,271

)

PROVISIONS FOR LIABILITIES

19

(233,855

)

NET ASSETS

1,855,228

CAPITAL AND RESERVES

Called up share capital

20

96,300

Capital redemption reserve

21

21,600

Fair value reserve

21

645,258

Retained earnings

21

1,092,070

SHAREHOLDERS' FUNDS

1,855,228

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

H R Cooper-Atkins - Director

FIXED ASSETS

Intangible assets

10

-

Tangible assets

11

-

Investments

12

1,909,335

1,909,335

CURRENT ASSETS

Debtors

14

6,100

CREDITORS

Amounts falling due within one year

15

1,679,135

NET CURRENT LIABILITIES

(1,673,035

)

TOTAL ASSETS LESS CURRENT LIABILITIES

236,300

CREDITORS

Amounts falling due after more than one year

16

140,000

NET ASSETS

96,300

CAPITAL AND RESERVES

Called up share capital

20

96,300

SHAREHOLDERS' FUNDS

96,300

Company's profit for the financial year

-

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 29 September 2025 and were signed on its behalf by:

H R Cooper-Atkins - Director

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Changes in equity

Issue of share capital

96,300

-

-

-

96,300

Dividends

-

(30,000

)

-

-

(30,000

)

Total comprehensive income

-

452,140

-

645,258

1,097,398

Balance at 31 December 2024

96,300

422,140

-

645,258

1,163,698

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

96,300

-

96,300

Balance at 31 December 2024

96,300

-

96,300

Cash flows from operating activities

Cash generated from operations

1

1,629,546

Interest paid

(143

)

Interest element of hire purchase payments paid

(39,534

)

Tax paid

(21,650

)

Factoring charges

(106,344

)

Net cash from operating activities

1,461,875

Cash flows from investing activities

Purchase of intangible fixed assets

(1,064,748

)

Purchase of tangible fixed assets

(447,842

)

Sale of tangible fixed assets

276,259

Net cash from investing activities

(1,236,331

)

Cash flows from financing activities

New HP agreements in year

214,098

Capital repayments in year

(299,233

)

Amount introduced by directors

7,544

Equity dividends paid

(30,000

)

Net cash from financing activities

(107,591

)

Increase in cash and cash equivalents

117,953

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

117,953

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

£

Profit before taxation

376,841

Depreciation charges

501,537

Loss on disposal of fixed assets

34,225

Factoring charges

106,344

Finance costs

39,677

1,058,624

Increase in stocks

(5,400

)

Increase in trade and other debtors

(146,823

)

Increase in trade and other creditors

723,145

Cash generated from operations

1,629,546

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 December 2024

31.12.24

4.1.24

£

£

Cash and cash equivalents

117,953

-

3.	ANALYSIS OF CHANGES IN NET DEBT

At 4.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

-

117,953

117,953

-

117,953

117,953

Debt

Finance leases

-

(489,265

)

(489,265

)

-

(489,265

)

(489,265

)

Total

-

(371,312

)

(371,312

)

1.	STATUTORY INFORMATION

COAT Facilities Group 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 General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Basis of consolidation

The Group financial statements include the results of the parent undertaking and all its subsidiary undertakings.

Goodwill arising on consolidation, being the difference between the purchase consideration paid for the shares in three subsidiary companies and the fair value of the net assets acquired, is amortised over a period of 10 years.

The following acquisitions in the year have been accounted for using the acquisition method:

Diamond Facilities Support Limited

Jet Through Limited

Sanctuary Fire & Security Limited

The following acquisitions in the year have been accounted for using the merger method:

Nationwide Property Clean Limited

Nationwide Roofing Repairs Limited

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue from the rendering of services which are measured using a percentage of completion method. Transactions involving the rending of services that are incomplete at the end of the reporting report are recognised based on the stage of completion if the conditions of FRS 102.23.14 are met.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

33% on cost and 20% on cost

Plant and machinery

-

33% on cost and 20% reducing balance

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% reducing balance

Computer equipment

-

33% on cost and 33% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

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

3.

EMPLOYEES

£

Wages and salaries

4,154,357

Social security costs

394,684

Pension costs

56,276

4,605,317

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

Engineers

110

Office

59

169

£

Directors' remuneration

210,580

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

Money purchase schemes

2

Information regarding the highest paid director is as follows:

£

Emoluments etc

110,110

£

Company contributions to director's money purchase pension schemes

4,500

4.	OPERATING PROFIT

The operating profit is stated after charging:

£

Depreciation - owned assets

126,281

Depreciation - assets on hire purchase contracts

165,381

Loss on disposal of fixed assets

34,225

Goodwill amortisation

235,722

Foreign exchange differences

107

5.	AUDITORS' REMUNERATION

£

Fees payable to the company's auditors for the audit of the company's financial statements

38,150

Total audit fees

38,150

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

£

VAT interest

143

Hire purchase

39,354

Factoring charges

106,344

145,841

7.

TAXATION

Analysis of the tax charge

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

£

Current tax:

UK corporation tax

186,685

Deferred tax

(26,262

)

Tax on profit

160,423

Reconciliation of total tax charge included in profit and loss

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

£

Profit before tax

376,841

Profit multiplied by the standard rate of corporation tax in the UK of 25 %

94,210

Effects of:

Expenses not deductible for tax purposes

4,932

Depreciation in excess of capital allowances

22,613

Utilisation of tax losses

(1,347

)

Accelerated capital allowances

(26,262

)

Amortisation not deductible for tax purposes

58,931

Non-taxable consolidation adjustments

7,346

Total tax charge

160,423