IRIS Accounts Production v25.2.0.378 02626053 Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities electrical and mechanical contractors. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02626053 2024-03-31 02626053 2025-03-31 02626053 2024-04-01 2025-03-31 02626053 2023-03-31 02626053 2023-04-01 2024-03-31 02626053 2024-03-31 02626053 ns15:EnglandWales 2024-04-01 2025-03-31 02626053 ns14:PoundSterling 2024-04-01 2025-03-31 02626053 ns10:Director1 2024-04-01 2025-03-31 02626053 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02626053 ns10:MediumEntities 2024-04-01 2025-03-31 02626053 ns10:Audited 2024-04-01 2025-03-31 02626053 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 02626053 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02626053 ns10:FullAccounts 2024-04-01 2025-03-31 02626053 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 02626053 ns10:Director2 2024-04-01 2025-03-31 02626053 ns10:RegisteredOffice 2024-04-01 2025-03-31 02626053 ns5:CurrentFinancialInstruments 2025-03-31 02626053 ns5:CurrentFinancialInstruments 2024-03-31 02626053 ns5:ShareCapital 2025-03-31 02626053 ns5:ShareCapital 2024-03-31 02626053 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 02626053 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 02626053 ns5:ShareCapital 2023-03-31 02626053 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 02626053 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 02626053 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 02626053 1 2024-04-01 2025-03-31 02626053 ns5:PlantMachinery 2024-04-01 2025-03-31 02626053 ns5:MotorVehicles 2024-04-01 2025-03-31 02626053 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-04-01 2025-03-31 02626053 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-04-01 2024-03-31 02626053 ns5:OwnedAssets 2024-04-01 2025-03-31 02626053 ns5:OwnedAssets 2023-04-01 2024-03-31 02626053 ns5:PlantMachinery 2024-03-31 02626053 ns5:MotorVehicles 2024-03-31 02626053 ns5:PlantMachinery 2025-03-31 02626053 ns5:MotorVehicles 2025-03-31 02626053 ns5:PlantMachinery 2024-03-31 02626053 ns5:MotorVehicles 2024-03-31 02626053 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 02626053 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 02626053 ns5:WithinOneYear 2025-03-31 02626053 ns5:WithinOneYear 2024-03-31 02626053 ns5:BetweenOneFiveYears 2025-03-31 02626053 ns5:BetweenOneFiveYears 2024-03-31 02626053 ns5:AllPeriods 2025-03-31 02626053 ns5:AllPeriods 2024-03-31 02626053 ns10:OrdinaryShareClass1 2025-03-31 02626053 ns5:RetainedEarningsAccumulatedLosses 2024-03-31

REGISTERED NUMBER: 02626053 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MAYBOURNE & RUSSELL LIMITED

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 4 |

Income Statement | 8 |

Other Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 14 |

MAYBOURNE & RUSSELL LIMITED

COMPANY INFORMATION

for the Year Ended 31 March 2025

| DIRECTORS: | N J Maybourne

| M Amos

| REGISTERED OFFICE: | Unit 5, Leigh Green Industrial Estate

| Appledore Road

| Tenterden

| Kent

| TN30 7DE

| REGISTERED NUMBER: | 02626053 (England and Wales)

| AUDITORS: | Waight & Company Ltd

| Statutory Auditors

| 8 Lonsdale Gardens

| Tunbridge Wells

| Kent

| TN1 1NU

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

STRATEGIC REPORT

for the Year Ended 31 March 2025

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

Maybourne & Russell Limited is an electrical and mechanical contractor concentrating on sectors within education, Ministry of Justice, industrial and leisure. The company's offices are based in Tenterden, Kent.

REVIEW OF BUSINESS

Key Performance Indicators:

| 2025 |  | 2024 |

| £ |  | £ |

Turnover |  | 15,201,912 |  | 11,402,355 |

Gross Profit |  | 2,003,350 |  | 1,951,094 |

Gross Profit Rate (% of turnover) |  | 13.2% |  | 17.1% |

Direct Labour (wages and sub-contractors) |  | 7,619,848 |  | 5,413,535 |

Direct Labour Rate (% of turnover) |  | 50.1% |  | 47.5% |

Indirect Wages (administration wages and directors remuneration) |  | 1,252,044 |  | 1,254,936 |

Indirect Wages Rate (% of turnover) |  | 8.2% |  | 11.0% |

The company has been involved in larger contracts over the course of 2025 resulting in an increase in turnover to £15.2m (2024 - £11.4m). These particular jobs have been agreed at lower margins, resulting in the gross profit rate being reduced to 13.2% (2024 - 17.1%)

Annual overheads have been well managed and maintained at a consistent level of £1.7 over the last few years.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors are aware that the key business risk comes in the form of competition from both UK and international contractors, along with ensuring safe and to budget project delivery.

High levels of investment in UK infrastructure continue the demand for the skilled labour market.

Cost of living continues to impact the labour market and material costs in the market. Where possible, these increases are passed onto the customers when tendering submissions.

Due to the nature of the work there will always be risks in respect of Health and Safety. Maybourne & Russell takes the safety and welfare of its employees and other persons who may be directly affected by activities arising out of its operations very seriously and is intent on complying with the requirements of Contractor Health and Safety.

ON BEHALF OF THE BOARD:

N J Maybourne - Director

15 October 2025

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

REPORT OF THE DIRECTORS

for the Year Ended 31 March 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

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

N J Maybourne

M Amos

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and 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;

- | 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, Waight & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

N J Maybourne - Director

15 October 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

MAYBOURNE & RUSSELL LIMITED

Opinion

We have audited the financial statements of Maybourne & Russell Limited (the 'company') for the year ended 31 March 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 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 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 Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

MAYBOURNE & RUSSELL LIMITED

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 Report of the Directors.

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

- | adequate accounting records have not been kept, 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 three, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

MAYBOURNE & RUSSELL LIMITED

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:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Officers and other management (as required by auditing standards).

- We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation.

- We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

- With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Officers.

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

- We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

MAYBOURNE & RUSSELL LIMITED

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.

Peter Waight (Senior Statutory Auditor)

for and on behalf of Waight & Company Ltd

Statutory Auditors

8 Lonsdale Gardens

Tunbridge Wells

Kent

TN1 1NU

17 October 2025

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

INCOME STATEMENT

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

TURNOVER | 15,201,912 |  | 11,402,355 |  |

Cost of sales | 13,198,562 |  | 9,451,261 |  |

GROSS PROFIT | 2,003,350 |  | 1,951,094 |  |

Administrative expenses | 1,705,551 |  | 1,690,405 |  |

OPERATING PROFIT | 4 | 297,799 |  | 260,689 |  |

Interest receivable and similar income | 41,346 |  | 20,837 |  |

PROFIT BEFORE TAXATION | 339,145 |  | 281,526 |  |

Tax on profit | 5 | 90,630 |  | 72,342 |  |

PROFIT FOR THE FINANCIAL YEAR | 248,515 |  | 209,184 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

OTHER COMPREHENSIVE INCOME

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 248,515 |  | 209,184 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 248,515 |  | 209,184 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

BALANCE SHEET

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 6 | 8,803 |  | 4,797 |  |

CURRENT ASSETS

Debtors | 7 | 4,704,077 |  | 4,109,280 |  |

Cash at bank | 1,688,242 |  | 1,827,441 |  |

6,392,319 |  | 5,936,721 |  |

CREDITORS

Amounts falling due within one year | 8 | 3,408,839 |  | 3,197,750 |  |

NET CURRENT ASSETS | 2,983,480 |  | 2,738,971 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,992,283 |  | 2,743,768 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 20,000 |  | 20,000 |  |

Retained earnings | 11 | 2,972,283 |  | 2,723,768 |  |

SHAREHOLDERS' FUNDS | 2,992,283 |  | 2,743,768 |  |

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:

N J Maybourne - Director

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

STATEMENT OF CHANGES IN EQUITY

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2023 | 20,000 |  | 2,514,584 |  | 2,534,584 |  |

Changes in equity

Total comprehensive income | - |  | 209,184 |  | 209,184 |  |

Balance at 31 March 2024 | 20,000 |  | 2,723,768 |  | 2,743,768 |  |

Changes in equity

Total comprehensive income | - |  | 248,515 |  | 248,515 |  |

Balance at 31 March 2025 | 20,000 |  | 2,972,283 |  | 2,992,283 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

CASH FLOW STATEMENT

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (96,958 | ) | 52,536 |  |

Tax paid | (74,028 | ) | (96,363 | ) |

Net cash from operating activities | (170,986 | ) | (43,827 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (9,559 | ) | - |  |

Interest received | 41,346 |  | 20,837 |  |

Net cash from investing activities | 31,787 |  | 20,837 |  |

Decrease in cash and cash equivalents | (139,199 | ) | (22,990 | ) |

Cash and cash equivalents at beginning of year | 2 | 1,827,441 |  | 1,850,431 |  |

Cash and cash equivalents at end of year | 2 | 1,688,242 |  | 1,827,441 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 31 March 2025

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before taxation | 339,145 |  | 281,526 |  |

| Depreciation charges | 5,553 |  | 1,747 |  |

| Finance income | (41,346 | ) | (20,837 | ) |

303,352 |  | 262,436 |  |

| Increase in trade and other debtors | (596,988 | ) | (1,493,850 | ) |

| Increase in trade and other creditors | 196,678 |  | 1,283,950 |  |

| Cash generated from operations | (96,958 | ) | 52,536 |  |

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 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 1,688,242 |  | 1,827,441 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 1,827,441 |  | 1,850,431 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank | 1,827,441 |  | (139,199 | ) | 1,688,242 |  |

1,827,441 |  | (139,199 | ) | 1,688,242 |  |

| Total | 1,827,441 |  | (139,199 | ) | 1,688,242 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Maybourne & Russell 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Critical accounting judgements and key sources of estimation uncertainty

| Preparation of the financial statements requires management to make significant judgements, estimates and

| assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.

| The following judgements had a significant effect in the amounts recognised in the financial statements:

| Amounts recoverable on contracts

| The stage of completion as noted in the turnover and amounts recoverable on contracts policies is subject to estimation and judgement. The directors makes use of the information available to them at the balance sheet date to formulate their calculation. This is implemented on a contract by contract basis.

| Useful lives of property, plant and equipment

| The Company estimates the useful lives of property, plant and equipment based on the period over which the assets are expected to be available for use. The estimate useful lives of property, plant and equipment are reviewed periodically and re-updated if expectations differ from previous estimates due to physical wear and tear, technical obsolescence and legal or other limits on use of the relevant assets. In addition, the estimation of the useful lives of property, plant and equipment are based on internal technical evaluation and experience with similar assets. It is possible, however, that future results of operations could be materially affected by the changes in the estimates brought about by changes in factors mentioned above. The amounts and timing of recorded expenses for any period would be affected by changes in these factors and circumstances. A reduction in the useful lives of property, plant and equipment would increase the recorded expenses and decrease the non-current assets.

| Deferred tax

| Deferred tax assets and liabilities require management judgement in determining the amounts, if any, to be

| recognised. Judgement is required in assessing the extent to which the assets and liabilities should be recognised, taking into account the expected timing and levels of future taxable income. Deferred tax assets are only recognised when management believes it is probable that future taxable profits will be available against which the deductible temporary differences can be utilised.

| Turnover

| Turnover is based on the invoiced value of all goods despatched and services provided prior to the year end, excluding VAT and other sales-based discounts and net of trade discounts, and includes the proportion of the sales value of long term contracts relevant to the stage of completion.

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 20% on cost

| Motor vehicles | - | 25% on reducing balance

| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition.

| Financial instruments

| Financial assets and liabilities are recognised when the Company has become a party to the contractual provisions of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire.

| Financial Assets

| Financial assets comprise cash and cash equivalents, trade receivables, amounts recoverable on contracts and other receivables. The Company classifies all of its financial assets as assets at amortised cost. Financial assets at amortised cost are initially recognised at fair value net of any transaction cost directly attributable to their acquisition, less any provision for impairment.

| Financial Liabilities

| Financial liabilities comprise trade payables and other payables. The Company classified all of its financial liabilities as liabilities at amortised cost. Financial liabilities at amortised cost are initially recognised at fair value net of any transaction cost directly attributable to the issue of the instrument.

| Provisions

| Provisions are recognised when the Company has a present legal obligation as a result of a past event which it is probable will result in an outflow of economic benefits that can be reliably estimated. Where the effect of the time value of money is material, the provision is based on the present value of future outflows, discounted at a risk-free rate.

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

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

| Deferred tax

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

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

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

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

| Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.

| Amounts recoverable on contracts

| In respect of long-term contracts, the attributable profit is recognised once the final outcome can be assessed with reasonable certainty and reflects the proportion of work completed to date on the project. Variations in contract work and claims are included to the extent that the amount can be measured reliably and its receipt is considered probable. Full provision is made for losses on any contract in the period the

| loss is first foreseen.

| The difference between work done and invoices raised on a contract is recognised as amounts recoverable on contracts. Any excess payments on account over and above the value of work done are included within creditors.

| Contract costs are recognised as expenses in the period in which they are incurred. Any bid costs or tender costs are expensed as incurred until the stage is reached when it is virtually certain that the contract will be won. Provisions for contract costs are made where they can be reliably measured against the proportion of works completed at the year end compared to the expected margins upon completion.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and in hand, including credit and debit transactions awaiting clearance into a Company bank account.

3. | EMPLOYEES AND DIRECTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Wages and salaries | 1,855,955 |  | 1,827,920 |  |

| Social security costs | 182,089 |  | 181,234 |  |

| Other pension costs | 106,683 |  | 79,252 |  |

2,144,727 |  | 2,088,406 |  |

| The average number of employees during the year was as follows:

| 31.3.25 |  | 31.3.24

| Directors | 2 |  | 2 |  |

| Labour | 16 |  | 17 |  |

| Contracting | 8 |  | 7 |  |

| Administration | 9 |  | 10 |  |

35 |  | 36 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

3. | EMPLOYEES AND DIRECTORS - continued

| 31.3.25 |  | 31.3.24

£ | £ |

| Directors' remuneration | 152,416 |  | 149,449 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire of plant and machinery | 3,021 |  | - |  |

| Depreciation - owned assets | 5,553 |  | 1,747 |  |

| Auditors' remuneration | 14,000 |  | 14,000 |  |

5. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Current tax:

| UK corporation tax | 88,439 |  | 74,208 |  |

| Deferred tax | 2,191 |  | (1,866 | ) |

| Tax on profit | 90,630 |  | 72,342 |  |

| Reconciliation of total tax charge included in profit and loss

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before tax | 339,145 |  | 281,526 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 84,786 |  | 70,382 |  |

| Effects of:

| Expenses not deductible for tax purposes | 5,390 |  | 3,833 |  |

| Capital allowances in excess of depreciation | - |  | (1,873 | ) |

| Depreciation in excess of capital allowances | 454 |  | - |  |

| Total tax charge | 90,630 |  | 72,342 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

6. | TANGIBLE FIXED ASSETS

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 45,176 |  | 15,330 |  | 60,506 |  |

| Additions | - |  | 9,559 |  | 9,559 |  |

| At 31 March 2025 | 45,176 |  | 24,889 |  | 70,065 |  |

| DEPRECIATION

| At 1 April 2024 | 42,028 |  | 13,681 |  | 55,709 |  |

| Charge for year | 2,751 |  | 2,802 |  | 5,553 |  |

| At 31 March 2025 | 44,779 |  | 16,483 |  | 61,262 |  |

| NET BOOK VALUE

| At 31 March 2025 | 397 |  | 8,406 |  | 8,803 |  |

| At 31 March 2024 | 3,148 |  | 1,649 |  | 4,797 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 32,262 |  | 20,550 |  |

| Amounts owed by group undertakings | 609,192 |  | 643,358 |  |

| Amounts recoverable on contract | 3,984,512 |  | 3,310,913 |  |

| VAT | 53,874 |  | 105,190 |  |

| Deferred tax asset | 4,168 |  | 6,359 |  |

| Prepayments and accrued income | 20,069 |  | 22,910 |  |

4,704,077 |  | 4,109,280 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 1,773,815 |  | 1,885,164 |  |

| Tax | 88,619 |  | 74,208 |  |

| Social security and other taxes | 84,614 |  | 68,324 |  |

| Accrued expenses | 1,461,791 |  | 1,170,054 |  |

3,408,839 |  | 3,197,750 |  |

MAYBOURNE & RUSSELL LIMITED (REGISTERED NUMBER: 02626053)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

9. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Within one year | 107,920 |  | 114,876 |  |

| Between one and five years | 160,480 |  | 271,550 |  |

268,400 |  | 386,426 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 20,000 | Ordinary | 1 | 20,000 |  | 20,000 |  |

11. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 2,723,768 |  |

| Profit for the year | 248,515 |  |

| At 31 March 2025 | 2,972,283 |  |

12. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Maybourne & Russell (Tenterden)Limited..

| Unit 5 Leigh Green Industrial Estate

| Appledore Road

| Tenterden

| Kent

| TN30 7DE