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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

New Milton Concrete Limited is a private company limited by shares incorporated in England and Wales. The registered office is Caird Avenue, New Milton, Hampshire, United Kingdom, BH25 5PX.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is an indirect subsidiary of Drew Group Holdings Limited and has entered into guarantees in relation to certain group borrowings and liabilities. It also trades with and has balances due to and from group undertakings.true

In assessing whether the financial statements should be prepared on a going concern basis, the directors have considered the outlook of the group and company and in so doing have given consideration to the current and future operating results and cashflow requirements of the business. The directors continue to assess the group’s cashflow requirements and expect its current and future banking and asset finance facilities to be sufficient to provide the group with the resources necessary.

Trading conditions continue to be challenging, and the directors have put in place a number of cost saving and business improvement measures that they expect to lead to improved trading conditions moving forward. In addition, there has been a considerable investment in new plant since the year end which will improve capacity capabilities and margins in key areas.

The directors are confident that that the value of the land and building portfolio is significantly in excess of the borrowings of the group and that they will be able to further strengthen the short term cashflow position of the group by identifying cash generation opportunities from non operating assets as required.

Capital expenditure continues to be managed carefully and asset finance obtained as far as possible for essential capital expenditure.

The group has continued to clear down loan liabilities in line with the banking agreements and several loans were cleared in the year or in early 2025. The directors are working with its existing and new lenders to agree new funding for the group and working closely with them to agree on the most appropriate future funding model for the business. Through disposal of excess property and other assets that are not used in the day to day operations the directors expect to significantly reduce its borrowings towards the end of 2025 and throughout 2026. In addition shareholders have also recently introduced new funds to the business.

Therefore, the directors believe that based on budgeted future trading, the continued support of its lenders, support from its shareholders and known commitments, the group has adequate resources to meet its liabilities as they fall due and the ability to operate as a going concern for a period of at least 12 months from the date of approval of these financial statements.

The directors therefore consider it appropriate to continue to adopt the going concern basis in the preparation of these financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised on collection or delivery of concrete.

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

At each reporting period end date, the company reviews the carrying amounts of its tangible to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

The average monthly number of persons (excluding directors) employed by the company during the year was:

Hire purchase contracts relating to certain items of plant and machinery are held by the company's immediate parent company and are secured on the assets to which they relate.

Other creditors of £82,626 are secured against the assets to which they relate. Bank loans relate to amounts drawn down under an invoice discounting facility secured on outstanding trade debtors.

Other creditors are secured against the assets to which they relate.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its loss 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.

The company is a member of a VAT group and has a joint and several liability for the creditor, held in another group company at the balance sheet date, of £274,443 (2023: £334,197).

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The immediate parent company is New Milton Sand and Ballast Limited, incorporated in England and Wales. The registered office is Caird Avenue, New Milton, Hampshire, Caird Avenue, New Milton, BH25 5PX.

The ultimate parent company for which consolidated financial statements are prepared is Drew Group Holdings Limited, incorporated in England and Wales. The registered office is Caird Avenue, New Milton, Hampshire, Caird Avenue, New Milton, BH25 5PX.

The accounts of Drew Group Holdings Limited are those of the largest and smallest group of which the company is a member and for which group accounts are prepared. Copies of the accounts of Drew Group Holdings Limited can be obtained from Companies House.