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REGISTERED NUMBER: 07127493 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MEGSON UTILITIES LIMITED

MEGSON UTILITIES LIMITED (REGISTERED NUMBER: 07127493) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| MEGSON UTILITIES LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | K C Megson

| D Megson

| SECRETARY: | D Megson

| REGISTERED OFFICE: | Medina House

| 2 Station Avenue

| Bridlington

| East Yorkshire

| YO16 4LZ

| REGISTERED NUMBER: | 07127493 (England and Wales)

| ACCOUNTANTS: | Lloyd Dowson Limited

| Medina House

| 2 Station Avenue

| Bridlington

| East Yorkshire

| YO16 4LZ

MEGSON UTILITIES LIMITED (REGISTERED NUMBER: 07127493) |

BALANCE SHEET

31 DECEMBER 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 427,592 |  | 406,387 |  |

CURRENT ASSETS

Stocks | 56,406 |  | 59,104 |  |

Debtors | 5 | 5,381,353 |  | 5,020,919 |  |

Cash at bank and in hand | 763,215 |  | 1,017,564 |  |

6,200,974 |  | 6,097,587 |  |

CREDITORS

Amounts falling due within one year | 6 | 1,017,037 |  | 895,322 |  |

NET CURRENT ASSETS | 5,183,937 |  | 5,202,265 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,611,529 |  | 5,608,652 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (80,818 | ) | (25,556 | ) |

PROVISIONS FOR LIABILITIES | (106,898 | ) | (101,165 | ) |

NET ASSETS | 5,423,813 |  | 5,481,931 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 100 |  | 100 |  |

Retained earnings | 5,423,713 |  | 5,481,831 |  |

SHAREHOLDERS' FUNDS | 5,423,813 |  | 5,481,931 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MEGSON UTILITIES LIMITED (REGISTERED NUMBER: 07127493) |

BALANCE SHEET - continued

31 DECEMBER 2024

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

K C Megson - Director

MEGSON UTILITIES LIMITED (REGISTERED NUMBER: 07127493) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

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

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is derived from services provided as a utility connections specialist, and is recognised on delivery of the service.

| 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.

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on 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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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

| Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company has implemented automatic enrolment into a workplace pension scheme in relation to all employees. All contributions payable for the year are charged to the Statement of Income and Retained Earnings in the period to which they relate.

MEGSON UTILITIES LIMITED (REGISTERED NUMBER: 07127493) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2023 - 4 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2024 | 820,129 |  |

| Additions | 150,097 |  |

| Disposals | (83,700 | ) |

| At 31 December 2024 | 886,526 |  |

| DEPRECIATION

| At 1 January 2024 | 413,742 |  |

| Charge for year | 104,322 |  |

| Eliminated on disposal | (59,130 | ) |

| At 31 December 2024 | 458,934 |  |

| NET BOOK VALUE

| At 31 December 2024 | 427,592 |  |

| At 31 December 2023 | 406,387 |  |

| The net book value of tangible fixed assets includes £ 225,120 (2023 - £ 106,894 ) in respect of assets held under hire purchase contracts.

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 1,974,231 |  | 1,649,006 |  |

| Amounts owed by associates | 2,999,958 |  | 2,977,253 |  |

| Other debtors | 407,164 |  | 394,660 |  |

5,381,353 |  | 5,020,919 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 55,365 |  | 48,670 |  |

| Trade creditors | 293,414 |  | 553,404 |  |

| Amounts owed to associates | - |  | 3,674 |  |

| Taxation and social security | 256,744 |  | 269,338 |  |

| Other creditors | 411,514 |  | 20,236 |  |

1,017,037 |  | 895,322 |  |

MEGSON UTILITIES LIMITED (REGISTERED NUMBER: 07127493) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 80,818 |  | 25,556 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 136,183 |  | 74,226 |  |

| Hire purchase liabilities are secured by a charge over the assets to which they relate.

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

10. | CONTINGENT LIABILITIES

| Megson Utilities Limited has guaranteed the borrowings of its sister company, Megson Construction Limited.

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

| 31.12.24 |  | 31.12.23

£ | £ |

| K C Megson and D Megson

| Balance outstanding at start of year | - |  | 29,755 |  |

| Amounts repaid | - |  | (29,755 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |