REGISTERED NUMBER: R0000273 (Northern Ireland)

Page

Company Information  

1

Strategic Report  

2

Directors' Report  

6

Independent Auditors' Report  

9

Income Statement  

13

Statement of Financial Position  

14

Statement of Changes in Equity  

15

Notes to the Financial Statements

16

DIRECTORS:

David Ramsey

Kieron Millar

Kirk Jamison

REGISTERED OFFICE:

Rosemount House

21-23 Sydenham Road

Belfast

BT3 9HA

REGISTERED NUMBER:

R0000273 (Northern Ireland)

INDEPENDENT AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

BANKERS:

Danske Bank

Donegall Square West

Belfast

Antrim

BT1 6JS

SOLICITORS:

Tughans

The Ewart

3 Bedford Street

Belfast

BT2 7EP

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

PRINCIPAL ACTIVITIES AND BUSINESS REVIEW

H & J Martin Limited ("the company") is one of the UK and Ireland's most successful Construction and Asset Management Service related companies. It is primarily engaged in the activities of building, fit-out and facilities management throughout the UK and Ireland.

Performance

The directors consider the results for the year to be in line with expectations reporting a profit before taxation of £1,381,269 (2024: £380,432) and turnover of £60,619,191 (2024: £50,845,632).

Net assets of the company at the year end were £5,038,460 (2024: £3,657,191).

The directors do not recommend the payment of a dividend in the year.

KEY PERFORMANCE INDICATORS

The directors consider the key performance indicators to be those that communicate the financial performance and strengths of the company, being turnover, gross profit margin and net assets.

The key performance indicators and their comparatives are included below:

2025

2024

£

£

Turnover

60,619,191

50,845,632

Gross profit margin

11.5%

9.8%

Net assets

5,038,460

3,657,191

Employee numbers

243

242

PRINCIPAL RISKS AND UNCERTAINTIES

The Board continually reviews risks and uncertainties facing the company by regular reviews of the company's performance, compliance activities and other economic factors influencing the marketplace in which the company operates.

UK, Ireland and International Economies

The company's revenue depends to a great degree on the economies of the countries in which we operate. A positive economic climate is essential to generate economic growth which in turn provides further opportunities for the company. Despite the limitations in recent growth in the UK, Ireland and Internationally, the company has been able to maximise opportunities by continuing to invest in long term relationships with its clients, partners and other key stakeholders. This approach enables early identification of opportunities and strategic partners.

Project Management

First class project management is fundamental to the continued success of our company and does not happen by chance. Our company's outstanding success in project management for over 50 years has been down to our people - we have a greatly experienced management team who have developed over several years and have been supported by industry leading staff development and training programmes. Our approach to project management is built on collaboration with clients, partners and supply chain with open communication to ensure that issues are dealt with as they arise to ensure successful project outcomes.

Staff Retention and Recruitment

Our business is built on our people and it is therefore critical that we continue to develop and train our staff in order to retain the breadth of experience and industry knowledge that they possess. Our company not only ensures that our overall pay and benefit packages are extremely competitive but has invested massively in the wider cultural aspects of staff retention, including career development, staff health and wellbeing, work life balance and staff communication. This is demonstrated by our staff retention rate which is well above the construction industry average.

Furthermore, recruitment of new people into the business is essential to ensure the business can attract high calibre recruits to complement the existing workforce and to harness new skills and ideas throughout the business. The business continues to invest in its recruitment process to ensure it attracts the right candidates to the business.

This ongoing investment has led to numerous awards, including Investors in People Platinum.

SECTION 172(1) STATEMENT

This section serves as our section 172 statement and should be read in conjunction with the rest of the Strategic Report. Section 172 of the Companies Act 2006 requires Directors to take into consideration the interests of stakeholders in their decision making. The Directors continue to have regard to the interests of the Group's employees and other stakeholders, including the impact of its activities on the community, the environment and the Group's reputation, when making decisions. Acting in good faith and fairly between members, the Directors consider what is most likely to promote the success of the Group in the long term. Whilst the importance of giving due consideration to our stakeholders is not new, we are explaining in more detail this year how the Board engages with our stakeholders, with the requirement to include a statement setting out how our Directors have discharged this duty. The key points are highlighted below:

Long Term Plan

Our long term plan is designed to have a long term beneficial impact on the company and to contribute to its future success. This is in line with our strategic vision to be a world class family owned specialist contracting business that will grow to be the most respected in the construction and services sectors.

Our Employees

Our employees are fundamental to successful delivery of our business strategy and long-term goals. The health, safety and well-being of our employees is one of our primary considerations in the way we do business and this is encompassed in our mission 'to provide specialist contracting and services solutions in an environment where people feel safe, secure and valued'.

We have invested time to ensure that all of our staff are aware and adhere to our core values: Respect, Safety, Care, Fun, Trust, Open & Honest.

We have recently been reaccredited as a Platinum Standard employer by Investors in People and were highly commended as a Family Friendly Employer by Employers for Childcare.

Our relationship with stakeholders

Our approach is a client centric one. It believes in providing a flexible and responsive value for money service. To service its principal markets, it has grown its own in house capability. This has allowed us to create efficiencies, develop our skills and to control our own destiny. As a consequence we have grown a capability to carry out earthworks, concrete works, asphalting, temporary traffic management, drainage and mechanical & electrical works. Our Asset Management can also self-perform specialist services such as fire & security, motorised gates & barriers, glazing, pest control, air conditioning, in addition to these accredited serves we can self-perform professional services such as consultation and management surveys (asbestos related), call centre functions, life cycle analysis and asset collection/tagging.

The lines of communication are short and lessons learnt are carried forward to the following scheme. These are the basics to becoming efficient.

All parts of the Group share the same systems, culture and approach to safety. Therefore there is a reduced hierarchy and consequently less interfaces which can often be a source of contractual dispute, risk and communications breakdown. The tight team provides a mechanism for right first time.

Controlling directly the destiny of a project is about the Group taking full responsibility to deliver the Client's needs.

Impact on the community and environment

The Group recognises its operations directly impact on the natural and human environment and aims through its Environmental Policy and procedures, to continually assess the environmental implications of our activities and will actively seek the co-operation of clients, sub-contractors, suppliers, and all our employees in minimising adverse effects. As a business we consider the internal facing elements of sustainability specifically relating to staff and communities as well remembering that it is about achieving an ethical balance of our impact on the environment and the consumption of the planets natural resources alongside economic development while supporting staff, communities, cultures and societies to have equitable quality of life.

Our Standards & Reputation

Our vision is to be recognised as a leading FM and Fit-Out employer and contractor in the UK & Ireland leading in innovation.

Our mission is to provide self delivered multi trade FM and Fit-Out works sustainably in an environment where people feel safe, secure and valued.

The Group has a policy of maintaining and developing its systems to meet the highest industry standards expected of our customers, suppliers, employees and other stakeholders.

The group has invested significantly in its systems and is proud to have in place the following ISO accredited certificates in respect of our current systems:

- ISO 9001: 2015 - Quality Management Systems

- ISO 14001: 2015 - Environmental Management Systems

- ISO 45001: 2018 - Occupational Health & Safety Management Systems

Quality is key to achieving this vision and guides the company to deliver products and services that are safe, compliant and preferred by our customers. We adopt and implement the quality principle of ‘Right First Time’ during the execution of all our contracts.

FUTURE DEVELOPMENTS

The directors are committed to long term creation of shareholder value by continuing to maintain its market share in Northern Ireland, Great Britain and Ireland. The directors are confident that their strategy will result in continued profitability.

ON BEHALF OF THE BOARD:

Kieron Millar - Director

29 September 2025

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

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 was £Nil (2024:£3,500,000). The directors do not recommend the payment of a final dividend (2024: £3,500,000).

RESULTS DURING THE YEAR

The profit for the year, after taxation, amounted to £1,381,269 (2024: £376,910).

DIRECTORS

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

David Ramsey

Kieron Millar

Kirk Jamison

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company's operations expose it to a variety of financial risks that include the effects of changes in foreign currency risk, credit risk, liquidity risk and interest rate risk. The group has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the group by monitoring levels of debt finance and the related finance costs.

Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the company's finance department.

Interest Rate Risk

The company has both interest bearing assets and interest bearing liabilities, both of which bear interest at variable rates. The future cashflows of the company's operations are not sufficiently at risk due to interest rate changes to require funding at fixed rate. The appropriateness of this policy will be revisited should the company's operations change in size or nature.

Credit Risk

The company monitors credit risk closely and considers that its current policies of credit checks meets its objectives of managing exposure to credit risk.

The company has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.

Liquidity Risk

The company actively maintains short-term debt finance that is designed to ensure the group has sufficient available funds for operations and planned expansions.

Currency Risk

The company uses financial instruments to manage exposure to foreign exchange risk, in the normal course of business.

EMPLOYMENT OF DISABLED PERSONS

The company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

HEALTH AND SAFETY

The company exercises a strong commitment towards the maintenance of a healthy and safe working environment and training in safety procedures for its employees both in practical terms and in the issue of safety policies, notifications and publications to raise and maintain awareness of safety matters.To this end the company has achieved ISO45001:2018 certification.

ENVIRONMENT

The company is conscious of the real and perceived effects upon the environment arising particularly from construction operations. Operational managers are required to comply with all relevant environmental legislation. In the absence of such statutory legislation they are encouraged to apply best industry environmental practice, effect continuous improvement and to foster good relationships within the communities in which we operate. The Directors are committed to all relevant operating companies attaining accepted and approved environmental standards and to this end the group employs appropriately qualified staff dedicated to the establishment and maintenance of environmental management systems. Arising from this the company has been awarded ISO 14001:2015 accreditation.

QUALITY ASSURANCE

In keeping with its Mission Statement of serving its customers to the highest standards of professionalism and quality the Quality Management Systems within the company has been upgraded and is now registered to the ISO 9001:2015 standard.

EMPLOYEE INVOLVEMENT

The employees of the company are kept informed on matters through meetings and the publication of group and company newsletters. The company maintains an internal human resources department which provides induction and advice in all disciplines of employment policies, procedures, legislation and staff development. It also encourages and promotes social interaction and staff team building activities.

STREAMLINED ENERGY AND CARBON REPORTING

Disclosures in relation to the company's carbon emissions have been included in the consolidated financial statements of H&J Martin Group Limited for the year ended 31 March 2025.

DISCLOSURE IN THE STRATEGIC REPORT

Under Schedule 7.1A of "Large and Medium-Sized Companies and Groups (Accounts and Reports)

Regulations 2008" the company has elected to disclose the following directors report information in the

strategic report:

- Financial performance indicators;

- Principal activity and Business review; and

- Future developments

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

AUDITORS

The audit business of CavanaghKelly was acquired by Cooper Parry Audit (Ireland) Limited on 24th July 2025. CavanaghKelly has resigned as auditor and Cooper Parry Audit (Ireland) Limited has been appointed in its place.

The auditors,  Cooper Parry Audit (Ireland) Limited, have indicated their willingness to continue in office in accordance with theprovision of Section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

Kieron Millar - Director

29 September 2025

Opinion

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 Auditors' Report 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 Directors' Responsibilities Statement set out on pages seven and 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 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.

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

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit in respect of fraud are to assess the risk of material misstatement due to fraud, design and implement appropriate responses to those assessed risks and to respond appropriately to instances of fraud or suspected fraud identified during the course of our audit. However, the primary responsibility for the prevention and detection of fraud rests with management and those charged with governance of the company.

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

-

We obtained understanding of the legal and regulatory requirements applicable to the company’s financial statements and considered the most significant are the Companies Act 2006, Financial Reporting Standards (FRS102) and UK taxation legislation;

-

We have assessed the risk of material misstatement of the financial statements, including risk of material misstatement due to fraud and how it might occur by holding discussions with management and those charged with governance;

-

We enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations;

-

Understanding the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; and

-

Discussions amongst the audit engagement team regarding how fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion we identified the following potential areas where fraud may occur: timing of revenue recognition and management override.

The audit response to risks identified included:

-

Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the relevant laws and regulations above;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud;

-

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are reasonable and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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.

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.

Mr. Ryan Falls (F.C.A) (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

Statutory Auditor

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

29 September 2025

TURNOVER

4

60,619,191

50,845,632

Cost of sales

(53,650,892

)

(45,879,537

)

GROSS PROFIT

6,968,299

4,966,095

Administrative expenses

(5,587,030

)

(4,585,663

)

OPERATING PROFIT and

PROFIT BEFORE TAXATION

1,381,269

380,432

Tax on profit

7

-

(3,522

)

PROFIT FOR THE FINANCIAL YEAR

1,381,269

376,910

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

1,381,269

376,910

NON-CURRENT ASSETS

Tangible assets

9

488,833

435,393

CURRENT ASSETS

Receivables: amounts falling due within

one year

10

15,359,182

14,232,386

Cash at bank

3,665,778

4,441,201

19,024,960

18,673,587

PAYABLES

Amounts falling due within one year

11

(14,475,333

)

(14,659,303

)

NET CURRENT ASSETS

4,549,627

4,014,284

TOTAL ASSETS LESS CURRENT

LIABILITIES

5,038,460

4,449,677

PROVISIONS FOR LIABILITIES

12

-

(792,486

)

NET ASSETS

5,038,460

3,657,191

CAPITAL AND RESERVES

Called up share capital

13

80,006

80,006

Retained earnings

14

4,958,454

3,577,185

SHAREHOLDERS' FUNDS

5,038,460

3,657,191

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

Kieron Millar - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

6,080,000

700,281

6,780,281

Changes in equity

Capital reduction

(5,999,994

)

5,999,994

-

Dividends

-

(3,500,000

)

(3,500,000

)

Total comprehensive income

-

376,910

376,910

Balance at 31 March 2024

80,006

3,577,185

3,657,191

Changes in equity

Total comprehensive income

-

1,381,269

1,381,269

Balance at 31 March 2025

80,006

4,958,454

5,038,460

1.

STATUTORY INFORMATION

H.&J. Martin Limited is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Rosemount House, 21-23 Sydenham Road, Belfast, BT3 9HA.

The principal activity of the company is that of a construction company.

2.

STATEMENT OF COMPLIANCE

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.  

3.

ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis and in accordance with the historical cost convention. The financial reporting framework that has been applied in their preparation is the Companies Act 2006 (the "Act") and FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" issued by the Financial Reporting Council.

The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of H&J Martin Group Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of section 11 Basic Financial Instruments paragraph 11.41;

- the requirements of Related Party Disclosures section 33.6 and 33.7.

Critical accounting judgements and key sources of estimation uncertainty

Revenue

Turnover represents net invoices sales of goods and services , excluding value added tax. The majority of turnover is on long term contracts. These contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs by reference to the stage of completion at the reporting date. Where the outcome of each long-term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profits and loss account as the difference between the reported turnover and related costs for that contract. Provision is made for all known or expected losses.

Long term contracts

Turnover on long term contracts is recognised according to the stage reached in the contract by reference to the value of work done. A prudent estimate of the profit attributable to work completed is recognised once the outcome of the contract can be assessed with reasonable certainty. The amount by which turnover exceeds payments on account is shown under debtors as amount recoverable on contracts. Where payments on account exceed turnover these are shown under creditors as payments received on account.

Tangible assets

Taxation

Deferred tax

Foreign currencies

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Employee benefits