ACCOUNTS - Final Accounts preparation

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

Company Registration Number: 03288664

BRIMS CONSTRUCTION LIMITED

FINANCIAL STATEMENTS

31 MARCH 2025

BRIMS CONSTRUCTION LIMITED

COMPANY INFORMATION

Directors	Mr I Clift
	Mr J M Wood
	Mr R J Wood


Company secretary	Mr J M Wood


Registered number	03288664


Registered office	Ravensworth House
	5th Avenue Business Park
	Team Valley
	Gateshead
	Tyne & Wear
	NE11 0HF


Independent auditors	Armstrong Watson Audit Limited
	Statutory Auditors & Chartered Accountants
	One Strawberry Lane
	Newcastle upon Tyne
	NE1 4BX


Solicitors	Ward Hadaway LLP
	Sandgate House
	102 Quayside
	Newcastle upon Tyne
	NE1 3DX


Solicitors	DAC Beachcroft LLP
	Bank House East
	Pilgrim Street
	Newcastle upon Tyne
	NE1 6QF

BRIMS CONSTRUCTION LIMITED

CONTENTS

	Page
Strategic Report	1 - 8
Directors' Report	9 - 11
Directors' Responsibilities Statement	12
Independent Auditors' Report	13 - 16
Statement of Comprehensive Income	17
Balance Sheet	18
Statement of Changes in Equity	19
Notes to the Financial Statements	20 - 35

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Introduction

The Directors present their Strategic Report on the Company for the year end 31 March 2025.
Principal Activity
The principal activity of the Company is providing building and construction services.

Review of the Business

I am delighted to report that the Company has delivered another excellent set of financial results. Thanks to our people the business has a track record of delivering robust margins as well as an increase in turnover.
This was the second full year of trading for our new Teesside division and the division performed very well ending the year ahead of budgeted profit. With a number of projects on the horizon we look forward with confidence that the division will provide further growth opportunities from repeat business and new clients.
Our strong balance sheet continues to be attractive to clients who seek to work with contractors who can deliver and respond in the long term. It is also important to our supply chain who want confidence of prompt payment and to our employees where it provides job security.
The Company saw a 10.6% increase in turnover to £64.43m a new high in the Company’s history. Profit before tax also increased to £4.22m (2024: £3.15m). It was also pleasing to see that cashflow continues to be effectively managed and we closed the year with a healthy cash position of £17.75m (2024: £12.53m). The average cash balance through the year being £15.07m (2024: £9.6m).
This was achieved through our strong culture of discipline and risk management and only pursuing opportunities where we have the skills, resources, contract terms and conditions to be successful. This continues to be a key differentiator when comparing Brims with many of our competitors.
The Company therefore continues to outperform its peers and our strong financials together with our prudent strategy of:
• developing and maintaining our existing client relationships;
• expanding our list of quality clients;
• aiming to maintain a sustainable and well spread order book across different sectors of the construction
industry;
• raising our profile within the industry;
• focusing on profit and cash, not revenue and turning away any work with a high-risk profile;
• ensuring robust risk management across the Company;
• focus on health and safety;
is resulting in more and more clients appreciating the benefit of selecting Brims as their partner. This is resulting in more negotiated work.
This strategy ensures [1] growth is sustainable and at a reasonable margin; [2] the works we carry out are cash generative; and [3] profits can be distributed to the holding company whilst retaining sufficient reserves for its trading requirements.
Our secured sales at the end of June 2025 were at our strongest to date, standing at £73.7m and now in September 2025 these have increased to £93.08m, again being the strongest future sales to date. We therefore have confidence of a further increase in turnover for the next financial year.

Page 1

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

The success of our business is greatly assisted by our supply chain partners. Whilst we expect high standards of performance and competitive pricing, we treat our suppliers with respect and have an excellent reputation for prompt payment and fairness. As a Company we remain committed in developing and maintaining strong relationships.
Looking forward, we continue to receive a high number of quality tenders and, as in previous years, are selective on the projects we look to undertake. We are confident that our careful approach will continue to deliver positive results.

Environment and Climate Change

Construction activities can have a seriously detrimental effect on the environment and the Company has put in place a management system to minimise such effects. The Company has a role to play in decarbonising the environment for a greener, more sustainable future and has made positive steps to reduce our carbon intensity rate through a number of initiatives.

Development and Performance during the Year

As in previous years we have successfully completed a wide variety of projects which are best demonstrated by the following examples:
• Veterinary Referral Unit Phase 2 in South Tyneside. £0.9 million. Completed April 2024.
• A 1950’s Cinema & Shops and an 1820’s Georgian Drovers Tavern at Beamish Museum, Durham.
   £7.5 million. Completed May 2024.
• Refurbishment of an existing office for Northern Powergrid in Sunderland. £3.2 million.
   Completed July 2024.
• Extension & modernisation of existing reservoir overflow facility. £1.1 million. Completed July 2024.
• Works to Durham Castle including boundary wall repairs, landscaping and internal works to the
   Norman Chapel. £3.1 million. Completed August 2024.
• New SEN Teaching Block for Billingham South Primary School. £0.9 million. Completed August 2024.
• Fit out of a shell unit into a new Dental Practice in Northumberland. £1 million. Completed October 2024.
• New Executive Coastal House in Sunderland. £2.2 million. Completed October 2024.
• Refurbishment and Extension to existing house in North Tyneside. £9.2 million.
   Completed November 2024.
• New Home Bargains Store in Sunderland. £4.4 million. Completed December 2024.
• Site preparation & civil works for CO2 capture, concentration, purification & liquefaction plant.
   £2.7 million. Completed December 2024
• Refurbishment of part of a 1960’s Industrial Estate in Durham. £1.9 million. Completed January 2025.
• New Tesco Express Unit in Ashington, Northumberland. £0.97 million. Completed March 2025.
We also are on the following regional frameworks:
• NEPO207 Construction Works Framework
Lots 1,2,3,4 & 5
• NEPO2011 Civil Engineering & Infrastructure Works
• Home Group Development Contractors DPS Lots 1 & 2
• NHS Shared Business Services
• Prosper DPS Agreement

Page 2

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Position at the Year End

Turnover - £64.43m
Turnover increased to £64.43million, a 10.6% increase on 2024 (2024: £58.26 million).
Operating Profit - £3.54m
Operating profit increased to £3.54 million, a 31.1% increase on 2024 (2024: £2.70 million).
Interest - £706k
IInterest received increased to £705,634, a 54.1% increase on 2024 (2024: £457,954).
Profit after Tax - £3.43m
Our profit after tax increased to £3,429,510, a 45.3% increase on 2024 (2024: £2,360,832).
Cash - £17.75m
Cash balances remained strong throughout the year increasing to £17,748,544 (2024: £12,530,118).

Principal risks and uncertainties

The principal risks and uncertainties facing the Company are broadly grouped as - competitive, legislative, and financial and appropriate systems for the identification and control of risks are under continuous review.
Financial Risks
The principal financial risks that we run are associated with the ability to properly estimate the costs of carrying out the contracts in which we engage, the risk of properly incurring and controlling these costs, the ability to recover costs under the payment terms of the contracts, and the financial standing of our clients, subcontractors, and suppliers in terms of their ability to discharge their obligations to us.
The Company controls these risks in several ways. The Company is highly selective in the type of work that it tenders for in terms of the project size, location, complexity, and contract duration. The Company specialises in certain types of building projects in line with the areas where we have proven expertise. Tenders are controlled in accordance with a tender control policy and are authorised by directors according to their value and type.
The Directors also recognise the importance of financial risk management, and as such there are processes and procedures in place to ensure credit and other financial checks are carried out as appropriate. The Company's liquidity comprises cash and term deposits. No speculative trading in financial instruments is carried out by the Company.
As the traditional cash flow profile of a construction project is cash generative the principal risk associated with cash flow is non-payment by clients. To that end we undertake a thorough credit check on all our private sector clients and have had no bad debts this year.

Page 3

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Health & Safety
The Company recognises the importance of the health and safety of all those employed in its offices and sites and operates policies to ensure that the risks associated with accidents and health are properly managed and controlled. We also recognise that incidents affect our reputation and have a direct financial impact on the business and our management resources.
To mitigate these risks, we prioritise a safe working environment and promote health, safety and environmental issues and have a comprehensive policy and framework as well as dedicated full-time health & safety managers.

Project Delivery
The Company recognises that the failure to deliver projects to time, quality or budget, or contractual disputes and supply chain issues that can arise over the scope and/or valuation of contracts make the ultimate outcome of contracts uncertain.
The Company controls these risks by detailed monthly project reporting on each contract providing profit and cash forecasting. We monitor construction progress against programme to re-plan and reassess resources where applicable.
People
The availability of skilled resources is key to the success of the Company, and it is recognised that skill shortages will become an issue as the economy and construction industry improves.
A training and development programme designed to optimise career satisfaction is therefore being implemented and we are continuing our policy of employing apprentices and trainees.

Page 4

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Financial key performance indicators

Key performance indicators, together with several other measures, are used by the Board to measure the overall progress of the Company against its business objectives and its strategy. A number of the objectives and measures have been redefined to reflect the market conditions.
Health & Safety
Objective - To ensure our operations are carried out safely and without causing injury with a Non Fatal Workplace Injury Rate (NFWIR) below the industry norm.
Measure - The Non-Fatal Workplace Injury Rate is calculated as the total number Injuries with over a 7 day absence in the year multiplied by 100,000 divided by the average number of Employees incl Subcontractors.
2025 Performance

Comment - Our NFWIR was again zero for the year due to having no injuries with over a 7 day absence. The industry average is 2640. All our workforce continue to work hard to provide a safe working environment on all our sites and offices.

Pre Tax Margin
Objective - To deliver a sustainable operating margin for the relevant stage of the economic cycle.
Measure - Profit for the financial year before Tax divided by turnover, expressed as a percentage.
2025 Performance

Comment - With increased turnover generating further efficiencies of scale along with improved tender margins there has been an improvement in our profit margin.
Cash
Objective - To maintain optimum cash balances throughout the year.
Measure - Net Cash at the year end, in £m. Our key measure is our overall net cash position.
2025 Performance

Comment - The business continued to deliver substantial cash balances throughout the year. The year-end cash at £17.748m was in line with forecasts.

Order Book
Objective - To secure a balanced visible stream of future profitable workload.
Measure - The total sales expected to be generated from orders received in a financial year, in £m at the same point in time each year.

Page 5

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

2025 Performance

Comment - Our strategy continues to generate growth & our order book as at end of June stood at £73.7 million with further contracts under negotiation.

Directors' statement of compliance with duty to promote the success of the Company

Section 172 Companies Act 2006 Statement
Section 172 of the Companies Act 2006 requires the Company directors, acting in good faith, to promote the success of the Company for the benefit of its members as a whole, and in doing so has regard to relevant matters set out in section 172(1) of the Companies Act 2006.
In discharging these duties the directors have considered the matters detailed below:
Considering likely consequence of any decision in the long term
Brims Construction Limited operates mainly in the competitive construction market across a variety of sectors with a mixture of public and private sector clients. The Company conducts monthly performance reviews on all ongoing contracts and consequences of changes to monthly forecasts are considered for longer term impact.
All new potential construction contracts are subject to a detailed review and approval by the directors to ensure that turnover and profitability are maintained.
Taking the interests of Brims Construction Limited’s employees into account
Employees are essential to Brims Construction Limited’s interaction with other stakeholders and their commitment ensures successful trading and development of the business. The Directors recognise the importance of the employees feeling a strong sense of involvement in the business. Examples of how this is achieved are as follows:
   • Communication – the Company encourages open communication with employees aided by a
   flat management structure
   • Regular training to develop technical, functional and personal skills to improve performance
   • Regular reviews of employee benefits and conditions.
Fostering Brims Construction Limited’s business relationships with suppliers, customers and others
Fostering strong relationships with customers are key to maintaining and growing the business and this is done by regular and open communication.
The Company’s suppliers are fundamental to the business and the Directors endeavour to maintain strong long term relationships which ensure the quality of products and services provided and the continuity of the supply chain.
The impact of Brims Construction Limited’s operations on the community and the environment
Brims Construction Limited is committed to ensuring local communities and economies benefit from the Company’s presence. This includes opportunities for employment, providing work experience, training and career enhancement across all areas of the business. The local economy also benefits from the supply chain being afforded the opportunity to participate in our projects.
Brims Construction Limited is committed to the environment as detailed further in the SECR Disclosure noted
above.
Maintaining Brims Construction Limited’s reputation for high standards of business conduct
The Directors recognise the importance of maintaining high standards of business conduct and operates according to a full suite of policies, including personnel, ethical behaviour, health and safety, environmental, etc.
Acting fairly between members of the Company
The Directors consider its employees, customers, suppliers, shareholders and other service providers to be its major stakeholders. The Directors have a responsibility to ensure good relationships are maintained with all stakeholders.

Page 6

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

People and Culture

Brims can only perform consistently and predictably by having a culture that attracts and retains the right people, who share our purpose, values and objectives. Brims achieve this by having the right collaborative culture, providing a productive working environment where people can be themselves and are motivated to do their very best.
The directors continue to ensure that people are provided with the tools, resources and support needed to carry out their work efficiently and effectively, ensuring that Brims Construction is a great place to work.
We therefore once again wish to pay tribute to the exceptional talents of the people we employ. Our success is a result of their hard work, professionalism, loyalty and work ethic making this another successful year.
Reflecting once again on another successful year, I am immensely proud how we have successfully delivered multiple projects to many satisfied clients, how we have continued to grow our reputation and how we have continued to reward and provide development opportunities for our people.

Outlook

The new Governments promise ‘to get Britain building again’ has, in our experience, so far not materialised. Sustained political messages of the dire state of the Country’s finances, financial black holes, the need for tax rises creating additional costs for businesses has resulted in real uncertainty and a lack of investor confidence.
As a result, nearly 40% of the projects for which we have tendered over the year have unfortunately not proceeded, which is by far the highest cancellation rate we have ever experienced.
This issue has been especially evident within our Teesside operations. With its focus on civil works within the petro-chem sector we have experienced orders being cancelled, ongoing works abandoned, cancelled chemical plant investment and a general stagnation in the petro-chem sector.
Fortunately, the Company with its clear leadership and agility to quickly adapt was quick to recognise the market challenges and has been successful in identifying and targeting alternative projects that were more likely to proceed and where funding was not an issue.
Therefore, considering the uncertainty and lack of investor confidence, it is very pleasing to be able to report that we have secured the strongest order book to date and looking forward expect to see a continuing demand for Brims proven experience, skilled management teams and robust financials.

Conclusion

We remain confident in our strategy and that we are implementing it successfully. The Company has a number of differentiating strengths that underpin our ability to successfully deliver projects to clients.
The Board has a clear strategy for the sustainable growth of the business over the longer term and remains focused on delivering this. The Board will continue to review opportunities and how we develop to ensure it remains appropriate and aligned to delivering shareholder value. We have a first-class business, and the directors looks forward to further success in the future.
Approval
The Board of Directors of Brims Construction Limited has approved and authorised the contents of this report for the year ended 31 March 2025.

Page 7

BRIMS CONSTRUCTION LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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

................................................

Mr I Clift

Director

Date: 22 September 2025

Page 8

BRIMS CONSTRUCTION LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

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

Results and dividends

The profit for the year, after taxation, amounted to £3,429,510 (2024 - £2,360,832).

During the year ordinary dividends amounting to £1,000,000 (2024: £1,175,000) were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who served during the year were:

Mr I Clift

Mr J M Wood

Mr R J Wood

Political contributions

The Company made no political donations during the year (2024: £Nil).

Future developments

See disclosures within the Strategic Report regarding future developments of the Company.

Going concern

The financial statements have been prepared on a going concern basis.
The Company meets its day to day working capital requirements through cash generated from operations. At the year end the Company had net current assets of £4,737,587 including cash of £17,748,544 and made a profit before tax of £4,222,739. The Company has no external borrowings and limited financial commitments.
The company’s forecasts and projections for the next twelve months show that the company should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.
Based on the factors set out above the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

Financial instruments

Objectives and policies
The Company finances its activities with a combination of cash and short-term deposits. Other financial assets and liabilities, such as trade debtors and trade creditors, arise directly from the Company's operating activities.
Price risk, credit risk, liquidity risk and cash flow risk see disclosure in the Strategic Report in respect of the financial risk management of the Company.

Engagement with suppliers, customers and others

See disclosures within the Strategic Report regarding engagement with suppliers, customers and others.

Page 9

BRIMS CONSTRUCTION LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Greenhouse gas emissions, energy consumption and energy efficiency action

Methodology
Brims SECR reporting is in accordance with UK regulations and includes emissions arising from our fleet, gas
and electricity in all sites and offices. To calculate its emissions into equivalent tonnes of carbon dioxide (CO2e)
the Government’s carbon conversion factors, updated in 2021, have been used.
We have measured our scopes 1, 2 and 3 emissions and for the year ended 31 March 2025 (with prior year
provided for comparison) the energy usage is as follows:

Principal Energy Efficiency Actions
The Company operates an accredited ISO 14001 Environmental Management System (integrated with ISO 9001 and ISO 45001) which identifies and controls the environmental impact of our activities and services. We continually look to improve our environmental performance and implement a systematic approach to setting environmental objectives.
To improve energy efficiency the Company is looking to use more renewable electricity and will be moving to a more energy efficient office with LED lighting in 2025.

Matters covered in the Strategic Report

The Strategic Report has been prepared in accordance with section 414C(11) of the Companies Act 2006 (Strategic and Directors’ Report) Regulations 2013.

Page 10

BRIMS CONSTRUCTION LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditors

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

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

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

Post balance sheet events

There have been no significant events affecting the Company since the year end.
In September 2025, the Company moved its head office into a refurbished office in Gateshead that has been specifically designed around wellbeing, sustainability and the future expansion needs of the business.

Auditors

Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

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

................................................

Mr I Clift

Commercial Director

Date: 22 September 2025

Page 11

BRIMS CONSTRUCTION LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the company's financial statements and then apply them consistently;

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

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

Page 12

BRIMS CONSTRUCTION LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRIMS CONSTRUCTION LIMITED

Opinion

We have audited the financial statements of Brims Construction Limited (the 'company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 13

BRIMS CONSTRUCTION LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRIMS CONSTRUCTION LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 12, 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.

Page 14

BRIMS CONSTRUCTION LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRIMS CONSTRUCTION LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

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

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

• We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and occupational health and employment legislation.
• We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.
• We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period.
• The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition and management override of controls.
• We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.
• We enquired of the directors and third-party advisors about actual and potential litigation and claims.
• We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.
• In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

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

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

Page 15

BRIMS CONSTRUCTION LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRIMS CONSTRUCTION LIMITED (CONTINUED)

Use of our report

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

Michael Morris (Senior Statutory Auditor)

for and on behalf of

Armstrong Watson Audit Limited

Statutory Auditors & Chartered Accountants

Newcastle upon Tyne

22 September 2025

Page 16

BRIMS CONSTRUCTION LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
Note	£	£


Turnover	4	64,427,245	58,263,215
Cost of sales		(57,914,446)	(52,660,958)
Gross profit		6,512,799	5,602,257
Administrative expenses		(3,046,238)	(2,932,879)
Other operating income		71,420	32,159
Operating profit		3,537,981	2,701,537
Interest receivable and similar income	9	705,634	457,954
Interest payable and similar expenses	10	(20,876)	(9,892)
Profit before tax		4,222,739	3,149,599
Tax on profit	11	(793,229)	(788,767)
Profit for the financial year		3,429,510	2,360,832

The profit and loss account has been prepared on the basis that all operations are continuing operations.
The notes on pages 20 to 35 form part of these financial statements.

Page 17

BRIMS CONSTRUCTION LIMITED

REGISTERED NUMBER: 03288664

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	13		981,261		715,586
			981,261		715,586
Current assets
Debtors: amounts falling due within one year	14	10,181,812		10,343,971
Cash at bank and in hand		17,748,544		12,530,118
		27,930,356		22,874,089
Creditors: amounts falling due within one year	15	(23,192,769)		(20,632,871)
Net current assets			4,737,587		2,241,218
Total assets less current liabilities			5,718,848		2,956,804
Creditors: amounts falling due after more than one year	16		(342,297)		(94,824)
Provisions for liabilities
Deferred tax	18	(115,400)		(30,339)
			(115,400)		(30,339)
Net assets			5,261,151		2,831,641

Capital and reserves
Called up share capital	19	104	104
Share premium account	20	66,665	66,665
Profit and loss account	20	5,194,382	2,764,872
		5,261,151	2,831,641

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 September 2025.

................................................

Mr I Clift

Director

The notes on pages 20 to 35 form part of these financial statements.

Page 18

BRIMS CONSTRUCTION LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023	104	66,665	1,579,040	1,645,809
Comprehensive income for the year
Profit for the year	-	-	2,360,832	2,360,832
Dividends	-	-	(1,175,000)	(1,175,000)

At 1 April 2024	104	66,665	2,764,872	2,831,641
Comprehensive income for the year
Profit for the year	-	-	3,429,510	3,429,510
Dividends	-	-	(1,000,000)	(1,000,000)
At 31 March 2025	104	66,665	5,194,382	5,261,151

The notes on pages 20 to 35 form part of these financial statements.

Page 19

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Brims Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ravensworth House Fifth Avenue, Team Valley Trading Estate, Gateshead, England, NE11 0HF.

2.Accounting policies

2.1

Basis of preparation of financial statements

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

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

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

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Brims Building Group Limited as at 31 March 2025 and these financial statements may be obtained from Ravensworth House Fifth Avenue, Team Valley Trading Estate, Gateshead, England, NE11 0HF..

2.3

Going concern

The financial statements have been prepared on a going concern basis.
The Company meets its day to day working capital requirements through cash generated from operations.
The Company's forecasts and projections for the next twelve months show that the Company should be able to continue operational existence for that period, taking into account reasonable possible changes in trading performance.
Based on the factors set out above the directors believe that it remains appropriate to prepare the financial statements on going concern basis.

Page 20

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

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.

2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.6

Current and deferred taxation

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

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

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

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

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

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

2.7

Tangible fixed assets

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

Page 21

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Long-term leasehold property	-	2%	straight line
Plant and machinery	-	33%	straight line
Motor vehicles	-	25%	straight line
Fixtures and fittings	-	25%	straight line
Office equipment	-	33%	straight line

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

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

2.8

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

2.9

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
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 (or cash-generating unit) 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 (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Page 22

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. Profit is recognised on protects that are 80% complete. For projects that are less than 80% complete, overheads are absorbed upon the expected % contribution of each project rounded down to the nearest 0.5% up to a maximum of 3.5%.
When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.
Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.
The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

2.11

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 Balance Sheet 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.

Basic financial assets

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

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

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly

Page 23

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.11

Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

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

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

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

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial assets

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

Derecognition of financial liabilities

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

Page 24

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
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.

2.13

Retirement benefits

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

2.14

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2.15

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2.16

Dividends

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

Page 25

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Judgements in applying accounting policies 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
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Assessing indicators of impairment
In assessing whether there have been any indicators of impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairment identified during the current financial year.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Valuation of work in progress
Accounting estimates include the valuation of work in progress and profit on long term contracts. The company valuation policy dictates that if a contract is less than 80% complete, the company considers that the contract is at too early a stage to assess with reasonable certainty that the contract will be profitable and so profit recognised is based on costs incurred plus the expected percentage contribution of each project rounded down to the nearest 0.5%, capped at 3.5%. If a contract is greater than 80% complete, the profit recognised is a percentage of estimated total sales for a project based on costs incurred so far.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less the residual value, over the useful economic life of that asset. An estimate of the useful economic life of assets is detailed in the depreciation accounting policy. The carrying amount is £981,261 (2024 - £715,586).

Page 26

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Construction contract revenue	64,427,245	58,263,215
	64,427,245	58,263,215

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	64,427,245	58,263,215
	64,427,245	58,263,215

Government grants	(28,420)	(32,159)
Depreciation of tangible fixed assets	226,805	142,765
Profit on disposal of tangible fixed assets	(55,261)	-
Other operating lease rentals	44,460	48,876

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

21,000

19,500

Page 27

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Wages and salaries	11,007,303	11,429,355
Social security costs	1,230,623	1,261,297
Cost of defined contribution scheme	994,960	873,984
	13,232,886	13,564,636

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

	2025	2024
	No.	No.

Administration	16	17
Management	4	4
Site management	87	90
Site labour	88	94

	195	205

8.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	1,682,631	1,910,983
Company contributions to defined contribution pension schemes	59,805	119,240
	1,742,436	2,030,223

	During the year retirement benefits were accruing to 3 directors (2024 - 3) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £561,619 (2024 - £657,579).
	The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £19,935 (2024 - £24,270).

Page 28

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Interest receivable
		2025	2024
		£	£

Interest on bank deposits

705,634

457,954

10.	Interest payable and similar expenses
		2025	2024
		£	£

Interest on finance leases and hire purchase contracts

20,876

9,892

Corporation tax
Current tax on profits for the year	708,168	788,569
Adjustments in respect of previous periods	-	(3,981)
	708,168	784,588

Total current tax	708,168	784,588

Deferred tax
Origination and reversal of timing differences	85,061	4,179
Total deferred tax	85,061	4,179


	Tax on profit	793,229	788,767

Page 29

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.Taxation (continued)

Profit on ordinary activities before tax

4,222,739

3,149,599

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	1,055,685	787,400
Effects of:
Tax effect of expenses that are not deductible in determining taxable profit	658	2,212
Adjustments in respect of prior years	-	(3,982)
Fixed Asset Differences	3,137	3,137
Group relief claimed	(266,251)	-
Total tax charge for the year	793,229	788,767

12.	Dividends
		2025	2024
		£	£

	Ordinary shares of £0.01 each
	Interim paid	1,000,000	1,175,000

Page 30

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

13.	Tangible fixed assets

	Long leasehold property	Fixtures and fittings	Office equipment	Motor vehicles	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	627,383	39,639	128,506	447,014	1,242,542
Additions	-	-	7,468	488,914	496,382
Disposals	-	-	-	(171,835)	(171,835)
At 31 March 2025	627,383	39,639	135,974	764,093	1,567,089
Depreciation
At 1 April 2024	108,830	38,742	101,759	277,625	526,956
Charge for the year on owned assets	12,548	897	19,066	194,294	226,805
Disposals	-	-	-	(167,933)	(167,933)
At 31 March 2025	121,378	39,639	120,825	303,986	585,828
Net book value
At 31 March 2025	506,005	-	15,149	460,107	981,261
At 31 March 2024	518,553	897	26,747	169,389	715,586

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

	Long leasehold	506,005	518,553

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


	Motor vehicles	483,121	151,028

Page 31

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

14.

Debtors

					2025	2024
					£	£


Trade debtors	6,652,984	7,038,546
Gross amounts owed by contract customers	2,720,586	3,242,306
Amounts owed by group undertakings	752,329	-
Prepayments and accrued income	55,913	63,119
	10,181,812	10,343,971

15.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Obligations under finance lease and hire purchase contracts	140,824	48,327
Payments received on account	3,597,053	2,661,141
Amounts owed to group undertakings	25,423	6,666
Trade creditors	5,912,430	6,606,940
Corporation tax	362,187	784,588
Other taxation and social security	1,616,392	1,110,855
Other creditors	3,050,913	1,069,805
Accruals and deferred income	8,487,547	8,344,549
	23,192,769	20,632,871

16.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Net obligations under finance leases and hire purchase contracts	342,297	94,824

Page 32

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Within one year	140,824	48,327
Between 1-5 years	342,297	94,824
	483,121	143,151

Hire purchase and finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 44 months. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
Hire purchase and finance lease obligations are secured against the assets to which they relate.

18.	Deferred taxation

		2025
		£

	At beginning of year	(30,339)
	Charged to profit or loss	(85,061)
	At end of year	(115,400)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	116,772	47,086
Retirement benefit obligations	(1,372)	(16,747)
	115,400	30,339

Page 33

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

19.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

400 (2024 - 400) Ordinary shares of £0.01 each	4	4
100 (2024 - 100) Ordinary shares of £1.00 each	100	100

	104	104

20.

Reserves

Called up share capital
This represents the nominal value of share that have been issued.

Share premium account

This represents the amount above the nominal value received for shares sold, less transaction costs.

Profit and loss account

This reserve records retained earnings and accumulated losses.

21.	Retirement benefit schemes
		2025	2024
		£	£

	Defined contributions schemes
	Charge to profit or loss in respect of defined contribution schemes	994,960	873,984

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 £5,485 (2024 - £70,194) were payable to the scheme at the end of the year and are included in creditors.

Page 34

BRIMS CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

	Not later than 1 year	13,082	22,236
		13,082	22,236

23.	Parent undertaking and ultimate controlling party

The Company's immediate parent is Brims Building Group Limited, incorporated in England and Wales.
The most senior parent entity producing publicly available financial statements is Brims Building Group Limited. These financial statements are available upon request from Ravensworth House Fifth Avenue, Team Valley Trading Estate, Gateshead, England, NE11 0HF.

The directors do not consider there to be an ultimate controlling party.

Page 35