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REGISTERED NUMBER: 05562841 (England and Wales)

Tom Prichard Contracting Limited

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 January 2025

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Contents of the Financial Statements

for the Year Ended 31 January 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 4 |

| Report of the Independent Auditors | 5 |

| Statement of Comprehensive Income | 7 |

| Balance Sheet | 8 |

| Statement of Changes in Equity | 9 |

| Notes to the Financial Statements | 10 |

| Tom Prichard Contracting Limited |

Company Information

for the Year Ended 31 January 2025

| Director: | Mr T D Prichard

| Registered office: | Earthmover's House Unit 16 Llantrisant

| Business Park, Llantrisant

| Pontyclun

| CF72 8LF

| Registered number: | 05562841 (England and Wales)

| Auditors: | Menzies LLP, Statutory Auditors

| 5th Floor Hodge House

| 114-116 St Mary Street

| Cardiff

| CF10 1DY

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Strategic Report

for the Year Ended 31 January 2025

Introduction

The director presents his Strategic Report together with the audited accounts of Tom Prichard Contracting Limited (the 'Company'). All references to 2025 in the Strategic Report and the Financial Statements refer to the financial year ended 31 January 2025 or as at 31 January 2025 as appropriate (2024: the financial year ended 31 January 2024 or as at 31 January 2024).

Business Model

Tom Prichard Contracting Limited is a wholly owned subsidiary of Tom Prichard (Holdings) Limited. The Company's business activities include civil engineering, earthworks, plant hire, haulage and recycling activities to both municipal customers and local and national building organisations. Whilst most of the Company's activities are based in South Wales, the business is increasingly securing works further afield and this has supported the growth which the Company has achieved.

Review of business

The Company's turnover decreased by 5.6% to £46.8m (2024: £49.5m) due mainly to the decline in public sector funded activities. The Company's pre-tax profit increased compared the previous year at £4.4m (2024: £3.8m) due mainly to inflationary cost pressures passed on. During the year the Company invested £12.9m (2024: £7.6m) in new plant and equipment and increased its headcount level by 13.6% to 317 employees (2024: 279). These investments increased the Company's operational capacity to support further growth to its business activities.

Key Performance Indicators

The Company's key performance indicators are summarised below:

KPI |  | Rationale |  | 2025 |  | 2024 |

Turnover |  | Turnover measures the total amount of sales made by the Company to its customers. |  | £46.8m |  | £49.5m |

Net Profit Margin |  | Net profit margin is defined as profit before taxation divided by turnover. It measures how efficiently turnover isconverted into net profit. |  | 9.5% |  | 7.7% |

Net Assets |  | Net assets are defined as total assets less total liabilities. It shows the financial position of the Company at the year end. |  | £21m |  | £17.6m |

- |  | Turnover decreased in 2025 by 5.6% to £46.8m as referred to above. |

- |  | Net Profit Margin increased from 7.7% to 9.5% |

- |  | Net Assets at 31 January 2025 increased to £21m due to the retained profit for the year of £3.6m. |

Principal risks and uncertainties

The principal risks and uncertainties that could impact the Company's future performance include the following:

- |  | Energy costs: The results of the business were positively impacted by the decrease in oil and related fuel prices during 2025. However, fuel costs are extremely volatile, and wherever possible the Company seeks to pass on any future increased costs to its customers. |

- |  | Commodity prices: The recycling businesses were adversely impacted by the decrease in commodity prices for recycled material. Where possible, the Company seeks to recover this from its recycling contracts. |

- |  | Liquidity risk: The Group aims to mitigate liquidity risks by managing the cash generated by its operations. The Group's parent company Tom Prichard (Holdings) Limited has funding facilities with HSBC which provide additional flexibility to manage its working capital and to finance future strategic investments. |

- |  | General economic activity: The Company's activities are affected by the level of construction activity in the UK, which itself is dependent on the general level of economic activity. |

These risks and uncertainties are mitigated by the close management and expertise of the management team.

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Strategic Report

for the Year Ended 31 January 2025

Research and development

The Group continues to be at the forefront of recycling and remediation activities and continues to seek new means and processes to recycle waste. By enhancing recycling techniques, the Group benefits from reduced disposal costs and helps to sustain scare resources and reduce CO2 emissions. To achieve this, the Group continues to undertake significant research and development to improve the recycling and remediation processes to reduce the volume and the cost of land fill disposal. In addition, the Group proactively seeks to develop and improve working practices with new ideas and innovations.

Future developments

Demand for the Group's products and services is expected to remain strong in 2026 especially in the civil engineering sector.

Events after the balance sheet date

During July 2025, a new Group company, Prichard Tool Hire Limited, was established to conduct and facilitate further growth in, the Group's tool hire activities.

On behalf of the board:

Mr T D Prichard - Director

24 October 2025

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Report of the Director

for the Year Ended 31 January 2025

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

Principal activity

The principal activity of the company in the year under review was that of civil engineering, demolition, recycling, haulage and plant hire.

Dividends

No interim dividends declared during the year ended 31 January 2025.

Director

Mr T D Prichard held office during the whole of the period from 1 February 2024 to the date of this report.

Statement of director's responsibilities

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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, Menzies LLP, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

Mr T D Prichard - Director

24 October 2025

Report of the Independent Auditors to the Members of

Tom Prichard Contracting Limited

Opinion

We have audited the financial statements of Tom Prichard Contracting Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 January 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Report of the Director.

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 director's remuneration specified by law are not made; or

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

Report of the Independent Auditors to the Members of

Tom Prichard Contracting Limited

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the company. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, UK GAAP FRS 102 and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:

- |  | Discussing with Directors and management which areas of the business they believe to be more susceptible to fraud, and whether they have any knowledge or suspicion of fraudulent activities; |

- |  | Obtaining an understanding of the key controls put in place by the company to address risks identified, assessing the effectiveness of those and discussing how these are maintained and monitored internally; |

- |  | Assessing the risk of management override and review and testing of journal entries made into the accounting system; |

- |  | Challenging assumptions and judgements made by the company in relation to the significant accounting estimates employed in the preparation of the financial statements; |

- |  | Discussing with Directors and Management the legal and regulatory obligations of the business and whether they have any knowledge or suspicion of non compliance. |

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.

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.

Clive Edwards (Senior Statutory Auditor)

for and on behalf of Menzies LLP, Statutory Auditors

5th Floor Hodge House

114-116 St Mary Street

Cardiff

CF10 1DY

27 October 2025

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Statement of Comprehensive

Income

for the Year Ended 31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

Turnover | 3 | 46,767,457 |  | 49,561,092 |  |

Cost of sales | (30,655,257 | ) | (35,766,378 | ) |

Gross profit | 16,112,200 |  | 13,794,714 |  |

Administrative expenses | (10,682,696 | ) | (9,062,527 | ) |

5,429,504 |  | 4,732,187 |  |

Other operating income | 228,024 |  | 617 |  |

Operating profit | 5,657,528 |  | 4,732,804 |  |

Interest payable and similar expenses | 5 | (1,195,702 | ) | (865,058 | ) |

Profit before taxation | 6 | 4,461,826 |  | 3,867,746 |  |

Tax on profit | 7 | (850,517 | ) | (1,855,771 | ) |

Profit for the financial year | 3,611,309 |  | 2,011,975 |  |

Other comprehensive income | - |  | - |  |

Total comprehensive income for the year | 3,611,309 |  | 2,011,975 |  |

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Balance Sheet

31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

Fixed assets

Intangible assets | 8 | - |  | - |  |

Tangible assets | 9 | 32,331,331 |  | 27,003,519 |  |

32,331,331 |  | 27,003,519 |  |

Current assets

Stocks | 10 | 4,600 |  | 6,678 |  |

Debtors | 11 | 18,919,710 |  | 15,692,623 |  |

Cash at bank | 2,027,569 |  | 3,175,125 |  |

20,951,879 |  | 18,874,426 |  |

Creditors

Amounts falling due within one year | 12 | (13,409,248 | ) | (14,249,876 | ) |

Net current assets | 7,542,631 |  | 4,624,550 |  |

Total assets less current liabilities | 39,873,962 |  | 31,628,069 |  |

Creditors

Amounts falling due after more than one year | 13 | (14,303,387 | ) | (10,680,805 | ) |

Provisions for liabilities | 17 | (4,352,572 | ) | (3,340,570 | ) |

Net assets | 21,218,003 |  | 17,606,694 |  |

Capital and reserves

Called up share capital | 18 | 1,000 |  | 1,000 |  |

Retained earnings | 19 | 21,217,003 |  | 17,605,694 |  |

Shareholders' funds | 21,218,003 |  | 17,606,694 |  |

The financial statements were approved by the director and authorised for issue on 24 October 2025 and were signed by:

Mr T D Prichard - Director

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Statement of Changes in Equity

for the Year Ended 31 January 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 February 2023 | 1,000 |  | 15,593,719 |  | 15,594,719 |  |

Changes in equity

Total comprehensive income | - |  | 2,011,975 |  | 2,011,975 |  |

Balance at 31 January 2024 | 1,000 |  | 17,605,694 |  | 17,606,694 |  |

Changes in equity

Total comprehensive income | - |  | 3,611,309 |  | 3,611,309 |  |

Balance at 31 January 2025 | 1,000 |  | 21,217,003 |  | 21,218,003 |  |

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements

for the Year Ended 31 January 2025

1. | Statutory information

| Tom Prichard Contracting 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.

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

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 33.7.

| The company's financial statements are consolidated into the financial statements of Tom Prichard (Holdings) Limited. The Parent company shares its registered address with Tom Prichard Contracting Limited, and its consolidated financial statements are accessible via Companies House.

| Turnover

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

| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have been transferred to the buyer.

| Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured either through the proportion of costs incurred for work performed to date to the estimated total costs, through surveys of work performed, or through completion of a physical proportion of contract work.

| Goodwill

| Goodwill has been amortised evenly over its useful life of 5 years.

| 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.

| Plant and machinery | - | 13% on cost

| Fixtures and fittings | - | 25% on cost

| Government grants

| Grants received for the purchase of capital equipment are credited to a deferred income account and released to the income statement over the expected useful lives of the assets concerned.

| Stock

| Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell after making due allowances for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

2. | Accounting policies - continued

| Deferred tax

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

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

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to 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.

| Trade debtors

| Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

| Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value

| Trade creditors

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

| Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

| Other basic financial liabilities include bank loans and loans with fellow group subsidiaries which are all initially recognised at the transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried and remeasured at amortised cost using an effective interest rate method.

| Going concern

| At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue trading for the foreseeable future. In particular, the director reviewed the obligations under the company's finance documents and is satisfied that the company will continue to meet these obligations. Therefore the director continues to adopt the going concern basis of accounting in preparing these financial statements.

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

3. | Turnover

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Sales of goods | 7,814,634 |  | 9,587,289 |  |

| Services rendered | 38,952,823 |  | 39,973,803 |  |

46,767,457 |  | 49,561,092 |  |

4. | Employees and directors

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 11,504,250 |  | 11,794,480 |  |

| Social security costs | 1,303,788 |  | 1,142,303 |  |

| Other pension costs | 341,667 |  | 224,611 |  |

13,149,705 |  | 13,161,394 |  |

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

| 2025 |  | 2024

| Administration | 40 |  | 29 |  |

| Operational | 277 |  | 250 |  |

317 |  | 279 |  |

| 2025 |  | 2024

£ | £ |

| Director's remuneration | 14,291 |  | 13,722 |  |

5. | Interest payable and similar expenses |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 2,149 |  | 3,170 |  |

| Hire purchase | 1,193,553 |  | 861,888 |  |

1,195,702 |  | 865,058 |  |

6. | Profit before taxation

| The profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Other operating leases | 5,625 |  | 5,590 |  |

| Depreciation - owned assets | 6,531,114 |  | 5,610,794 |  |

| Profit on disposal of fixed assets | (289,782 | ) | (237,130 | ) |

| Auditors' remuneration | 16,480 |  | 16,000 |  |

| Other non- audit services | 3,750 |  | 3,268 |  |

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

7. | Taxation

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | (161,485 | ) | - |  |

| Deferred tax | 1,012,002 |  | 1,855,771 |  |

| Tax on profit | 850,517 |  | 1,855,771 |  |

| UK corporation tax has been charged at 25% (2024 - 25%).

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 4,461,826 |  | 3,867,746 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 1,115,457 |  | 966,937 |  |

| Effects of:

| Expenses not deductible for tax purposes | 17,596 |  | 27,895 |  |

| Capital allowances in excess of depreciation | (1,792,724 | ) | (223,521 | ) |

| R&D Tax credits | (55,422 | ) | - |  |

| Land remediation claim | (161,485 | ) | - |  |

| Losses utilised | 715,093 |  | (771,311 | ) |

| Deferred tax | 1,012,002 |  | 1,855,771 |  |

| Total tax charge | 850,517 |  | 1,855,771 |  |

8. | Intangible fixed assets

| Goodwill

£ |

| Cost

| At 1 February 2024

| and 31 January 2025 | 34,158 |  |

| Amortisation

| At 1 February 2024

| and 31 January 2025 | 34,158 |  |

| Net book value

| At 31 January 2025 | - |  |

| At 31 January 2024 | - |  |

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

9. | Tangible fixed assets

| Fixtures |

| Plant and |  | and |

| machinery |  | fittings |  | Totals

£ | £ | £ |

| Cost

| At 1 February 2024 | 47,018,362 |  | 113,353 |  | 47,131,715 |  |

| Additions | 12,936,632 |  | 6,000 |  | 12,942,632 |  |

| Disposals | (4,085,698 | ) | - |  | (4,085,698 | ) |

| At 31 January 2025 | 55,869,296 |  | 119,353 |  | 55,988,649 |  |

| Depreciation

| At 1 February 2024 | 20,028,872 |  | 99,324 |  | 20,128,196 |  |

| Charge for year | 6,521,533 |  | 9,581 |  | 6,531,114 |  |

| Eliminated on disposal | (3,001,992 | ) | - |  | (3,001,992 | ) |

| At 31 January 2025 | 23,548,413 |  | 108,905 |  | 23,657,318 |  |

| Net book value

| At 31 January 2025 | 32,320,883 |  | 10,448 |  | 32,331,331 |  |

| At 31 January 2024 | 26,989,490 |  | 14,029 |  | 27,003,519 |  |

| The net carrying value of tangible fixed assets include the following in respect of assets held under finance leases or hire purchase contracts:

|  | 2025 |  |  | 2024 |  |

| £ |  |  | £ |  |

| Plant and machinery |  | 25,556,285 |  |  | 21,163,322 |  |

10. | Stocks

2025 | 2024 |

£ | £ |

| Stocks | 4,600 |  | 6,678 |  |

11. | Debtors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Trade debtors | 6,248,280 |  | 5,272,187 |  |

| Amounts owed by group undertakings | 8,337,368 |  | 6,901,339 |  |

| Other debtors | 1,950,100 |  | 2,108,359 |  |

| Directors' loan accounts | 526,148 |  | 43,349 |  |

| Prepayments and accrued income | 1,857,814 |  | 1,367,389 |  |

18,919,710 |  | 15,692,623 |  |

12. | Creditors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 14) | 52,630 |  | 53,669 |  |

| Finance leases (see note 15) | 6,028,389 |  | 5,876,810 |  |

| Trade creditors | 3,862,839 |  | 3,899,943 |  |

| Amounts owed to group undertakings | 2,221,737 |  | 2,321,252 |  |

| Social security and other taxes | 346,600 |  | 292,503 |  |

| VAT | 76,875 |  | 952,499 |  |

| Other creditors | 175,901 |  | 202,978 |  |

| Accruals and deferred income | 644,277 |  | 650,222 |  |

13,409,248 |  | 14,249,876 |  |

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

13. | Creditors: amounts falling due after more than one year |

2025 | 2024 |

£ | £ |

| Bank loans (see note 14) | 26,798 |  | 77,349 |  |

| Finance leases (see note 15) | 14,276,589 |  | 10,603,456 |  |

14,303,387 |  | 10,680,805 |  |

14. | Loans

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 52,630 |  | 53,669 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 26,798 |  | 53,669 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | - |  | 23,680 |  |

15. | Leasing agreements

| Minimum lease payments fall due as follows:

| Finance leases |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 6,028,389 |  | 5,876,810 |  |

| Between one and five years | 14,276,589 |  | 10,603,456 |  |

20,304,978 |  | 16,480,266 |  |

| Hire purchase contracts relate to plant & machinery for the use of the business, and are secured against the assets which they relate to. Interest rates underlying all hire purchase contracts are fixed at respective contract rates from 1% to 4%.

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 11,953 |  | 5,555 |  |

| Between one and five years | - |  | 11,953 |  |

11,953 |  | 17,508 |  |

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

16. | Secured debts

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 79,428 |  | 131,018 |  |

| Development Bank of Wales

| Interest is charged on this loan at a fixed rate of 2.00% per annum. The loan is repayable over a five-year term which matures in May 2026. The loan is secured via a fixed and floating charge over the assets of the company.

| Hire purchase liabilities are secured against the assets which they relate too.

17. | Provisions for liabilities

2025 | 2024 |

£ | £ |

| Deferred tax | 4,352,572 |  | 3,340,570 |  |

| Deferred |

| tax |

£ |

| Balance at 1 February 2024 | 3,340,570 |  |

| Provided during year | 1,012,002 |  |

| Balance at 31 January 2025 | 4,352,572 |  |

18. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

19. | Reserves

| Retained

| earnings

£ |

| At 1 February 2024 | 17,605,694 |  |

| Profit for the year | 3,611,309 |  |

| At 31 January 2025 | 21,217,003 |  |

20. | Pension commitments

| The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £341,240 (2024: £224,201).

| Contributions totalling £31,563 (2024: £24,997) were payable to the scheme at the end of the period and are included within creditors.

21. | Contingent liabilities

| As at the balance sheet date, the group has recognised an amount due back from HMRC in respect of ongoing research and development projects. The claims have been submitted to HMRC just prior to the signing of these financial statements and therefore the recovery of the amount due back from HMRC had not been agreed by them at the time of signing.

| Although the director has taken advice from third party experts and is confident that HMRC will look positively towards the claims, there is no guarantee that a liability does not exist, but until such time that HMRC respond to the claims, it is not practicable to identify or quantify a provision to be included within the accounts.

| Tom Prichard Contracting Limited (Registered number: 05562841) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

22. | Director's advances, credits and guarantees

| The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

2025 | 2024 |

£ | £ |

| Mr T D Prichard

| Balance outstanding at start of year | 43,349 |  | 17,670 |  |

| Amounts advanced | 579,449 |  | 53,279 |  |

| Amounts repaid | (96,650 | ) | (27,600 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 526,148 |  | 43,349 |  |

| Interest is charged on the loan at 2.25% and no repayment terms have been agreed. The loan balance is considered repayable on demand.

| T D Prichard has provided a personal guarantee amounting to £180,000 to Barclays Bank plc.

23. | Related party disclosures

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Other related parties

2025 | 2024 |

£ | £ |

| Sales | 236,833 |  | 236,288 |  |

| Purchases | 109,287 |  | 151,652 |  |

| Amount due from related parties | 1,224,787 |  | 1,343,996 |  |

| Amount due to related parties | 26,137 |  | 2,683 |  |

| Related party transactions and balances are with companies under common ownership and companies owned by immediate family members.

24. | Ultimate controlling party

| The controlling party is Tom Prichard (Holdings) Limited.

| The ultimate controlling party is T D Prichard.

| At the balance sheet date Tom Prichard (Holdings) Limited owned 100% of the shares. The ultimate controlling party at the balance sheet date is T D Prichard by virtue of his 100% shareholding in Tom Prichard (Holdings) Limited.

| Consolidated financial statements are prepared by Tom Prichard (Holdings) Limited for the year ended 31 January 2025, the company's registered office is:

| Earthmover's House,

| Unit 16 Llantrisant Business Park,

| Llantrisant,

| Pontyclun

| CF72 8LF