REGISTERED NUMBER: 04786614 (England and Wales)

Strategic Report, Directors' Report and

Audited Financial Statements for the Year Ended 30 June 2025

for

Wordsworth Excavations Limited

Page

Company Information

1

Strategic Report

2

Directors' Report

7

Report of the Independent Auditors

9

Income Statement

12

Other Comprehensive Income

13

Balance Sheet

14

Statement of Changes in Equity

15

Cash Flow Statement

16

Notes to the Cash Flow Statement

17

Notes to the Financial Statements

19

DIRECTORS:

Mr Thomas Stephen Wordsworth

Mr Mark Briggs

Mr Dean Lax

Mr Joseph Nelson

Mr Luke Woodhead

REGISTERED OFFICE:

Unit 1 Wordsworth Business Park

Whaley Road

Barugh Green

Barnsley

South Yorkshire

S75 1FJ

REGISTERED NUMBER:

04786614 (England and Wales)

INDEPENDENT AUDITORS:

Landin Wilcock & Co

Statutory Auditor

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

Virgin Money

1A Peel Square

Barnsley

South Yorkshire

S70 2PL

The directors present their strategic report for the year ended 30 June 2025.

REVIEW OF BUSINESS

During the year the company continued to operate within the construction industry, with the majority of sales relating to the preparation and development of sites and excavation works.

Turnover increased by 69.3% in the year, this was due to several factors. Overall it was a much better year for the construction industry whilst the UK was still suffering from the effects of high inflation but despite these issues we increased our sales and returned a very healthy profit. Not only did we increase our sales with our key customers but we also began trading with several new customers which was a strategic aim. Our customer relationships have never been stronger and this has led to a vastly improved financial performance compared to last year.

The company's key financial and other performance indicators during the year were as follows:

Unit

2025

2024

Turnover

£'000

56,803

34,094

Turnover growth

%

69.3

(10.9

)

Gross profit margin

%

31.5

24.0

Profit / (Loss) before tax

£'000

4,114

(2,311

)

The increase in administrative expenses has been driven by an increase in employees. This has been a strategic decision in order to strengthen key positions within the company. The directors believe we now have an incredibly strong team going forward. There have been no exceptional items within the year.

Since the year end the company has seen turnover and profitability continue at excellent levels. These higher levels are expected to continue for both the short and medium term as we are still winning new projects with new and existing customers. We fully expect turnover for the current year to increase by over 10%, which demonstrates how successfully the company is now performing. We also expect our margins to be maintained as we continue to focus on efficiencies and productivity. Post year end, the company’s HP liabilities have also reduced and will continue to reduce significantly as we go through the year.

As in the previous year, the directors recognise that, even though interest rates are reducing, that it is in the best interest of the company to concentrate on debt reduction within the medium term whilst maintaining and improving profitability. The company’s KPI’s remain the same for the coming period

1. Overall Profitability

2. Project Profitability

3. Debt Reduction

4. Employee Turnover and Retention

5. Health & Safety Performance

6. Sustainability

PRINCIPAL RISKS AND UNCERTAINTIES

The main factors outside our control include the actions of our competitors, government policy and the macroeconomic environment. Our directors and senior management regularly review the competitive threats we face in order to identify the appropriate actions to be taken.

On writing this report we do appreciate that there is a degree of economic negativity within the UK. But, with the BOE continuing to decrease its base interest rate, and our current workload and forecasts, we fully expect to achieve the plans for the current financial year. Our directors continually keep abreast of economic developments both positive and negative which enables swift and decisive decision making for the betterment of the company.

The main factors within our control are, our internal operations, and the recruitment, retention and training of the workforce with the appropriate skills necessary to provide the high-level services required to retain key customers. We also continue to invest in the best equipment that is available to our industry. Our customer relationships are incredibly important to the future of the business and as such these remain a key priority, along with acquiring new ones.

SECTION 172(1) STATEMENT

Set out below is the Company's section 172 report as required by the Regulations. The Regulations require Wordsworth Excavations Ltd to report how the Directors of the Company have considered their duties under section 172 (of the Companies Act 2006 (the "Act")) ("Section 172"), to promote the success of the Company for the benefit of its members as a whole, and in doing so have regard to:

a) the likely consequences of any decisions in the long term; refer to "Review Of The Business" "The Future"

b) the interests of the company's employees; refer to "Employee Engagement & Wellbeing" and "Health & Safety"

c) the need to foster the company's business relationships with suppliers, customers and others; refer to "The Future" and "Carbon Reduction"

d) the impact of the company's operations on the community and the environment; refer to "Carbon Reduction"

e) the reputation for a high standard of business conduct; this is covered in "Review of the Business" "The Future" and "Carbon Reduction"

f) the need to act fairly between members of the company; this is summarised below:

The company recognises the importance of maintaining strong relationships with its key stakeholders (employees, customers, suppliers, lenders) in order to create sustainable long-term growth, and the directors believe in open dialogue and transparency with all its stakeholder groups. This in turn builds trust which is one of the foundations of our business strategy.

The Board of Directors is responsible for setting the company’s strategy and the reporting and monitoring of its overall performance. The Board believes that by engaging with its stakeholders, ultimately ensures the proper discharge of their duties under section 172 (1)

EMPLOYEE ENGAGEMENT AND DECISION MAKING

Employee retention is a fundamental requirement of the business and also one of our key strengths. We recognise that attracting, training, developing and ultimately retaining our workforce is a necessity for our business ethos. We give great value to the opinions of our employees, and we involve our workforce in many of our decision making activities as we see them as our greatest asset. Empowering our employees through independent decision making and continual training enables our entire team to be as strong as possible. The great service we provide to our customers can only be achieved by having a truly motivated and adaptable workforce working to the best of their abilities at all times. We invest heavily in the best training available to ensure that our employees are kept up to date with the latest knowledge and practices, ensuring excellent performance day in, day out.

STREAMLINED ENERGY AND CARBON REPORTING

In accordance with the requirements of The Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 the Members would like to disclose the following information for the calendar year 2024:

2025

2024

Type of Emission

Activity

Mwh

tCO2e

MWh

tCO2e

Scope 1

Transport

41,953.6

10,026.9

26,387.6

6,314.1

Subtotal

41,953.6

10,026.9

26,387.6

6,314.1

Scope 2

Grid Supplied Electricity

83.0

17.1

75.0

15.5

Subtotal

83.0

17.1

75.0

15.5

Scope 3

Grey Fleet

1,101.7

256.7

32.2

7.5

Supplier Transport

9,759.1

2,478.8

800.7

203.5

Subtotal

10,860.8

2,735.5

832.9

211.0

Total

52,897.4

12,779.5

27,295.5

6,540.6

As specified above, the information presented is for the calendar year 2024. The directors believe that whilst this is not in line with the company accounting period, it is still considered to be relevant. The directors will continue to prepare reports in line with the calendar year going forwards and as such this information will be comparable.

Intensity Ratios

2025

Energy intensity: 916.3 MWh / £million Revenue - 362.3 Mwh / total staff

Emissions intensity: 221.3 tCO2e / £million Revenue - 87.5 tCO2e / total staff

2024

Energy intensity: 800.6 MWh / £million Revenue - 213.2 Mwh / total staff

Emissions intensity: 192.1 tCO2e / £million Revenue - 51.1 tCO2e / total staff

Methodology

The methodology for the calculation of the CO2 equivalent emissions and energy consumption is based on the Greenhouse Gas Protocol Corporate Accounting Standard, the 2019 UK Government Environmental Reporting Guidelines, and the UK Government 2023 version 1.1 published greenhouse gas emission and energy factors. The operational control approach has been applied.

Energy Efficient Actions

There has been continued investment in new plant to maintain a modern fleet with high energy efficiency and that provides telemetric data. This promotes efficient plant deployment and operation and so helps to improve energy efficiency and reduce emissions intensity.

THE FUTURE

The directors' ambitions are to continue to expand the business in our current core market whilst seeking to diversify strategically into other growth areas, such as infrastructure, where we can utilise our existing skill sets. Given that our workforce is based throughout the UK we see opportunities for us to further nurture relationships with existing and new clients alike in geographical locations that have been restricted to us thus far. Throughout the year we have strengthened our management team and several other departments to ensure we are well equipped to meet our targets. Our proven track record will enable us to grow as a specialist contractor inline with our clients’ requirements. Due to the fact we are a strategic supply chain partner for some of the largest main contractors in the UK construction sector, we see excellent potential over the coming years. We also see the construction sector as a whole, being one of the key contributors to any upturn in economic growth within the UK. Finally, we recognise that Customer and Supplier relationships are key to our economic growth and as such we will continue to invest time and energy to ensure that we are as important to them as they are to us.

CARBON REDUCTION

Wordsworth Excavations recognise that our activities in the construction sector have a direct impact on the carbon footprint not only of our business, but also of the communities where we deliver projects. For some time, we have been committed to reducing the carbon generated through the delivery of our contracts, and we continue to build on this responsibility. In the medium term, we are adopting a pioneering approach to delivering sustainable earthworks across logistics, distribution, infrastructure, and highways projects throughout the UK. Our aim is to be market-leading in modern approaches that both reduce carbon emissions and provide accurate measurement of the CO2 created during project delivery. As part of this journey, we are proud to confirm that Wordsworth Excavations has achieved ISO14064 accreditation in 2023, underlining our commitment to transparent and verified carbon reporting. Building on this achievement, we have gone further by purchasing verified carbon offsets, which has enabled us to achieve Carbon Neutral status. This represents a significant milestone in our sustainability strategy and demonstrates our determination to take tangible action today while continuing to work towards long-term carbon reduction.

We see this as a fundamental and non-negotiable path to creating the sustainable environment we all wish to inhabit. By working collaboratively with our customers, suppliers, and workforce, we share a common vision to deliver meaningful carbon reduction and to take the necessary steps to achieve our long-term goals

HEALTH & SAFETY

The Company operates in an industry where health and safety risks are prominent day to day. The Company is also subject to stringent regulations from a health and safety perspective. A serious health and safety incident would not only have a significant effect on the people involved but also on the company’s reputation and most probably its financial performance. The company continues to invest heavily in its Health & Safety procedures and culture and this is driven by the directors and our Health & Safety department, who’s responsibility is the safety of our employees and the employees of our customers. Employees complete formal training on regular intervals and are required to obtain certificates which prove their competence to carry our procedures in a safe manner. The strong Health & Safety culture is driven by the Managing Director right down through all the levels of the company. The overall result of our Health & Safety Strategy is seen within our current H&S record which is excellent.

We also believe that our ability to retain our employees is directly influenced by the above and as such means that our performance on site remains at the highest level which again enhances our Health & Safety Performance.

ON BEHALF OF THE BOARD:

Mr Thomas Stephen Wordsworth - Director

15 October 2025

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of ground engineering, specialising in demolition, site clearance and preparation for development and excavation.

DIVIDENDS

A dividend of £330,000 was paid in the year (2024 - £2,500,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2024 to the date of this report.

Mr Thomas Stephen Wordsworth

Mr Mark Briggs

Mr Dean Lax

Other changes in directors holding office are as follows:

Mr Ian Raymond Booth - resigned 21 February 2025

Mr Joseph Nelson - appointed 1 December 2024

Mr Luke Woodhead - appointed 1 December 2024

FINANCIAL INSTRUMENTS

The business' principal financial instrument comprise bank balances, trade debtors, trade creditors and hire purchase agreements. The main purpose of these instruments is to finance the business' operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

The business is a lessee in respect of assets under hire purchase agreements. The liquidity risk in respect of these is managed by ensuring that are are sufficient funds to meet the payments due.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 and then apply them consistently;

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

-	state whether applicable 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Landin Wilcock & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr Thomas Stephen Wordsworth - Director

15 October 2025

Opinion

We have audited the financial statements of Wordsworth Excavations Limited (the 'company') for the year ended 30 June 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 30 June 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, 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 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 where the Companies Act 2006 requires us to report to you if, in our opinion:

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

- minimal reliance was placed upon the operating effectiveness of internal controls in the design and

performance of our substantive procedures;

- discussions were held with management considering known or suspected non-compliance with laws,

regulations and fraud;

- journal entries were reviewed for any entries made outside the ordinary reporting processes with particular

emphasis on those with unusual account combinations, entries crediting revenue and those without specific

descriptions;

- management assumptions in their significant accounting estimates were challenged and scrutinised.

There are inherent limitations in the audit procedures described above, and the further removed

non-compliance with laws and regulations is from the events and transactions reflected in the financial

statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement

due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate

concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Tom Henshaw (Senior Statutory Auditor)

for and on behalf of Landin Wilcock & Co

Statutory Auditor

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

16 October 2025

TURNOVER

3

56,803,397

34,093,552

Cost of sales

(38,908,902

)

(25,909,501

)

GROSS PROFIT

17,894,495

8,184,051

Administrative expenses

(12,614,531

)

(9,705,227

)

OPERATING PROFIT/(LOSS)

5

5,279,964

(1,521,176

)

Interest receivable and similar income

-

15,216

5,279,964

(1,505,960

)

Interest payable and similar expenses

6

(1,165,908

)

(805,086

)

PROFIT/(LOSS) BEFORE TAXATION

4,114,056

(2,311,046

)

Tax on profit/(loss)

7

(1,134,131

)

712,995

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

2,979,925

(1,598,051

)

PROFIT/(LOSS) FOR THE YEAR

2,979,925

(1,598,051

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,979,925

(1,598,051

)

FIXED ASSETS

Tangible assets

9

19,227,807

19,345,989

CURRENT ASSETS

Stocks

10

1,073,744

155,236

Debtors

11

15,524,767

15,694,519

Cash at bank

470,656

217,692

17,069,167

16,067,447

CREDITORS

Amounts falling due within one year

12

(16,061,668

)

(18,110,881

)

NET CURRENT ASSETS/(LIABILITIES)

1,007,499

(2,043,434

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,235,306

17,302,555

CREDITORS

Amounts falling due after more than one year

13

(6,436,739

)

(7,288,044

)

PROVISIONS FOR LIABILITIES

16

(3,894,975

)

(2,760,844

)

NET ASSETS

9,903,592

7,253,667

CAPITAL AND RESERVES

Called up share capital

17

100

100

Capital redemption reserve

18

25

25

Retained earnings

18

9,903,467

7,253,542

SHAREHOLDERS' FUNDS

9,903,592

7,253,667

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2025 and were signed on its behalf by:

Mr Thomas Stephen Wordsworth - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 July 2023

100

11,351,593

25

11,351,718

Changes in equity

Dividends

-

(2,500,000

)

-

(2,500,000

)

Total comprehensive income

-

(1,598,051

)

-

(1,598,051

)

Balance at 30 June 2024

100

7,253,542

25

7,253,667

Changes in equity

Dividends

-

(330,000

)

-

(330,000

)

Total comprehensive income

-

2,979,925

-

2,979,925

Balance at 30 June 2025

100

9,903,467

25

9,903,592

Cash flows from operating activities

Cash generated from operations

1

7,319,537

3,467,224

Interest paid

(8,336

)

(43,086

)

Interest element of hire purchase payments paid

(1,157,572

)

(762,000

)

Interest received

-

15,216

Taxation refund

-

1,070,028

Net cash from operating activities

6,153,629

3,747,382

Cash flows from investing activities

Purchase of tangible fixed assets

(210,896

)

(20,920

)

Sale of tangible fixed assets

105,744

603,417

Net cash from investing activities

(105,152

)

582,497

Cash flows from financing activities

Hire purchase repayments

(5,465,513

)

(1,030,845

)

Equity dividends paid

(330,000

)

(2,500,000

)

Net cash from financing activities

(5,795,513

)

(3,530,845

)

Increase in cash and cash equivalents

252,964

799,034

Cash and cash equivalents at beginning of year

2

217,692

(581,342

)

Cash and cash equivalents at end of year

2

470,656

217,692

1.	RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit/(loss) before taxation

4,114,056

(2,311,046

)

Depreciation charges

3,155,617

3,391,466

Loss on disposal of fixed assets

6,692

253,513

Finance costs

1,165,908

805,086

Finance income

-

(15,216

)

8,442,273

2,123,803

Increase in stocks

(918,508

)

(19,074

)

Decrease/(increase) in trade and other debtors

169,752

(4,664,091

)

(Decrease)/increase in trade and other creditors

(373,980

)

6,026,586

Cash generated from operations

7,319,537

3,467,224

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:

Year ended 30 June 2025

30/6/25

1/7/24

£

£

Cash and cash equivalents

470,656

217,692

Year ended 30 June 2024

30/6/24

1/7/23

£

£

Cash and cash equivalents

217,692

-

Bank overdrafts

-

(581,342

)

217,692

(581,342

)

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1/7/24

Cash flow

changes

At 30/6/25

£

£

£

£

Net cash

Cash at bank

217,692

252,964

470,656

217,692

252,964

470,656

Debt

Finance leases

(13,825,285

)

5,465,513

(2,938,975

)

(11,298,747

)

(13,825,285

)

5,465,513

(2,938,975

)

(11,298,747

)

Total

(13,607,593

)

5,718,477

(2,938,975

)

(10,828,091

)

4.	MAJOR NON-CASH TRANSACTIONS

During the year £2,938,975 (2024 - £2,930,384) of tangible fixed assets were acquired under hire purchase or finance leasing arrangements.

1.	STATUTORY INFORMATION

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

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

2.	ACCOUNTING POLICIES

Basis of 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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Plant and machinery is a highly material balance within the financial statements. As a result of this the depreciation charge on the assets has a significant impact upon the reported profitability of the company. The charge is sensitive to changes in the estimated useful economic lives and residual values of the assets. These are reviewed annually to reflect current estimated economic utilisation, physical condition and planned de-commissions. The carrying amount of assets involving significant judgement is £17,836,590 (2024 - £18,449,682).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company values works done for a period of time and then applies for payment based upon the assessed valuation. Revenue is recognised on the valuations in line with the period in which the works were undertaken.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.