REGISTERED NUMBER: 00983459 (England and Wales)

Jones Bros. Ruthin (Civil Engineering)

Co. Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

9

Report of the Independent Auditors

11

Statement of Comprehensive Income

14

Balance Sheet

15

Statement of Changes in Equity

16

Cash Flow Statement

17

Notes to the Cash Flow Statement

18

Notes to the Financial Statements

19

DIRECTORS:

Mr H G Jones

Mrs C A Johnson

Mrs H M L Morgan

Mr E Roberts

Mr G W Thomas

Mr H Lloyd-Davies

Mr G Evans

Mrs C J Griffiths

SECRETARY:

Mrs H M L Morgan

REGISTERED OFFICE:

Ty Glyn

Canol y Dre

Ruthin

Denbighshire

LL15 1QW

REGISTERED NUMBER:

00983459 (England and Wales)

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

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

REVIEW OF BUSINESS

Jones Bros Ruthin (Civil Engineering) Co Limited is a family business, founded in the 1950s. The Group's head office is located in Ruthin, North Wales with offices in Scotland and Cardiff. The Company directly employs around 480 staff and operatives. A key part of our success is our collaborative approach and established rapport with clients and businesses. With the provision of vast in-house resources, a modern heavy plant fleet, dedicated staff, and an award-winning apprenticeship scheme, the Group provides clients with the confidence and certainty that projects will be delivered to the highest professional standards.

MARKETS

The Company operates in the following key sectors:

- Energy and Renewables

- Reservoir construction

- Highways, Rail and Infrastructure

- Coastal Defence and Marine Infrastructure

- Waste Management Facilities & Landfill Engineering

- In House Surfacing & Stabilising Works

- Concrete Production, Soil Stabilisation, Quarrying & Aggregate Production

Support Services:

- Plant Hire

- Training Department

BUSINESS REVIEW

The Company has undertaken many projects across the UK. This year has seen the continuing development of the Havant Thicket Reservoir in a joint venture as Future Water MJJV Limited. This flagship project is a design and construction contract to deliver a new reservoir inclusive of earthworks, rip rap, temporary site drainage and access roads. Once completed, the reservoir will hold approximately 8.7 billion litres of water and the capacity to supply up to 21 million litres of water each day. It will be one mile from east to west, half a mile from north to south, with a new wetland on its northern shore, and is being built on a 160-hectare grassland site.

The Company is a market leader in delivering onshore wind farms and has constructed over 1800MW of infrastructure and built over 700 turbine foundations. The Company has successfully transferred these skills to onshore connections for offshore wind farms and tidal energy projects

This year has seen substantial construction of the North Kyle Wind Farm, a 49-turbine project in East Ayrshire which will have the capacity to power more than 160,000 households. The project required the construction of site access and approximately 39km of site tracks to allow the transport of 49 wind turbine assemblies.

The Company has begun construction on the Windy Standard III Wind Farm in Dumfries and Galloway, which will have the capacity to power more than 130,000 UK homes annually. The Project will be capable of generating 87.6 megawatts of renewable energy.

The Company has entered a joint venture with ACCIONA on the Scapa Deep Water Quay in Holm on the Orkney Islands after being awarded a Pre-Construction Services Agreement (PCSA). The scheme is set to be a key renewable energy hub.

There have been significant advancements in battery energy storage schemes with the design and construction of a 240MW Battery Energy Storage Solution at Uskmouth. The Company has also been involved in the construction of a Greener Grid Park in Swansea which will facilitate the connection of synchronous compensators to the National Electricity Transmission System (NETS).

The Company played a key role in the expansion of one of the world's largest ferry operators' freight businesses on the Wirral. Work carried out at 12 Quays Terminal included the creation of 200 additional spaces for freight, international ship and port facility security (ISPS) fencing, and four 30-metre-high lighting columns.

The Company has a long history of delivering Coastal Defence and Marine Infrastructure across the UK and this year saw the commencement of the Kinmel Bay Coastal Defence Scheme. The project will improve flood defences for coastal properties. Plans include raising and widening the rock armour and raising the seawall as well as upgrades to public spaces.

The Company has boosted the ecological security of the Joint Stocks Waste Management Project in Durham, with 70,000m² of earthworks carried out and 50,000m² of permanent capping undertaken as part of the works. In addition, 30 new gas wells were constructed to safely extract gas to be used to generate electricity.

Frameworks are in place with the leading waste management companies and there were many projects including landfill cells and capping which were delivered in the year under these contracts. In addition, the business has considerable experience in planning and carrying out surfacing works with the in-house specialist surfacing division.

Cambrian Services Limited provides specialist concrete production, soil stabilisation, quarrying & aggregate production services to the wider business. This company was sold out of the Group after the year end.

FINANCIAL PERFORMANCE

The statement of Comprehensive Income is set out on page 14.

The Company's turnover was £150.5m (2024: £155.7m) with an operating profit margin of 4.0% (2024: 4.6%) and profit before taxation was £5.9m (2024: £7.2m).

The Company balance sheet continued to strengthen with net assets of £19.8m (2024: £18.8m) and cash increasing to £22.1m (2024: £21.3m).

The Directors have assessed the Company's financial position and performance and are satisfied that it has adequate resources to continue operating for the foreseeable future. The Company has no debt servicing obligations and maintains sufficient cash reserves to meet short-term working capital and investment requirements. Supported by a strong order book and continued profitability, the Company is expected to remain cash generative over the next twelve months. Accordingly, the financial statements have been prepared on a going concern basis.

The Company's directors consider various key performance indicators on a frequent basis. These include turnover, operating profit, average number of employees and net assets.

2025

2024

Movement

£'000

£'000

%

Turnover

150,516

155,711

- 3.3

Operating profit

5,989

7,182

- 16

Average headcount

479

456

5

Net assets

19,851

18,861

5

RISKS AND UNCERTAINTIES

The directors have identified the following risks and uncertainties affecting the Company.

Market Risk

The Company operates in a highly competitive trading environment and faces risk and challenges as it delivers its projects. Uncertainties in regulatory, political, design, finance and planning environment can lead to delays in the construction programme and additional costs. Strong customer relationships are key to the business. In order to mitigate the various challenges, prequalification information and collaborative discussions of client requirements are important for establishing project requirements and contractual terms and the project delivery teams engage with project stakeholders throughout the delivery of each project. The management team meet regularly to review pipeline, contract risks, future tenders and pricing, and reports to the Board. The Board regularly reviews these as well as the strategic risk register.

The Company works with various industry and regulatory bodies to participate in the strategy and approach to managing compliance risk, best practice and collaborate on the issues and challenges facing the industry. The Company is an active member on several industry bodies including CECA, CBI and Renewables UK and attends and contributes to meetings and consultations.

Skilled Labour Shortage and Resource Planning

A shortage of skilled labour, particularly plant operators, presents a major risk to delivering projects on time and to a high standard. To address this, the Company has invested heavily in its apprenticeship and training programmes and has recruited over seventy apprentices and trainees in the last three years, and the in-house training centre delivers accredited Construction Plant Competence Scheme (CPCS) training. The management team, workforce and HR teams meet regularly and use in house developed software tools to plan and forecast plant and labour resources and the Company has established good relationships with its supply chain.

Health, Safety and Quality Risk

Maintaining high standards in health, safety and quality assurance is vital to the Company's operations. This is managed through an Integrated Business Quality Management System that includes Quality, Environmental and Health and Safety. A dedicated team also focus on training on the processes, and the Quality Management System is continually audited and improvements made where required. The system is accredited to the following international and UK standards:

-Construction Health and Safety Management System certified to ISO 45001

-Environmental Management System certified to BS EN ISO 14001

-Quality Management System certified to BS EN ISO 9001

-Energy Management System certified to BS EN ISO 50001

The Company was awarded the Royal Society for the Prevention of Accidents (RoSPA) Order of Distinction (17 Consecutive Gold) Award for health and safety performance. The Company prioritises the wellbeing and health of its staff, providing support to our dedicated staff and is a proud sponsor of Mates in Mind. A team of Mental First Aiders is established in the Company

Environmental Risk and Sustainability

As a civil engineering company with a large modern heavy plant fleet, environmental sustainability is a priority with risks including environmental performance, regulatory changes and carbon emissions. The Company has an established Energy Steering Company which guides its carbon reduction strategy and monitors performance. The Company continually strives to improve its environmental performance through on-going sustainability initiatives.

The Company is committed to playing an active role in local communities in which it operates. It actively engages with communities including involving local residents in our projects, supporting local schools, fostering future talent, sponsorship and financial support and contributing to the growth of local economies, leaving a positive legacy that benefits current and future generations.

Procurement and financing risk

The Company is exposed to inflation risks, credit exposure, procurement and supply chain risks which can affect cash flow and project viability. The Company monitors and manages inflation risk and, although it could be a significant risk on input costs, generally, fuel price escalation and specific material indexation clauses are built into the terms or negotiated on many of our contracts to ensure this is managed effectively going forward.

The Company finances its operations through cash balances generated from retained earnings and has no external borrowings. Financial performance and cash balances are regularly reviewed at the Board Meetings. Meetings are also held with financial institutions and information is regularly shared.

The Company does not trade in financial instruments or financial derivatives. The Company's exposure to foreign currency risk is not significant. When materials imported are of significant value steps are taken to mitigate foreign exchange risk. The credit worthiness of new customers is assessed at contract tender stage and the Company has a credit insurance policy in place to help mitigate significant losses from debtors defaulting.

The Company has many supply chain partners and seeks to have robust and clear procurement process with sharing of key information on terms and conditions, standards required and contractual terms. A decentralised procurement process allows increased direct engagement with the project teams and supply chain.

Changing technology - The integrated quality management and document system including business and commercial management tools are well established in the company and are continually being enhanced to adapt to business needs, AI technology and regulatory changes.

Significant investment has been made in a modern plant fleet with latest technology and ongoing development continues in the area of mobile and digital working implementing IT hardware and software at the sites which offers the project teams and clients the systems and secure connections to work in remote environments using mobile technology.

SECTION 172(1) STATEMENT

The Directors confirm that they are compliant with Section 172 of the Companies Act 2006, that is, duty to promote the success of the Company for the benefit of all members as a whole. In doing so the Directors have regard, amongst other matters, for the following:

i)

The likely consequences of decision making in the long term

ii)

The need to foster relationships with suppliers, customers and others

iii)

The impact of company operations on the community and the environment

iv)

Engagement with and regard to the interests of employees (impact of decision making)

v)

Reputation for high standards of business conduct

vi)

Acting fairly between members of the Company

The Board has actively undertaken measures to advance and uphold the Company's strategic objectives. Regular Board meetings are convened with Company Directors and the Business Owner, structured around a defined agenda that prioritises the long-term success of the Company. These meetings are supported by comprehensive Board papers, ensuring informed decision-making and alignment with objectives.

KEY STAKEHOLDER ENGAGEMENT

In addition to the stakeholders identified explicitly in S172(1) the Company also consider the following as key to the business:

i.

Subcontractors and agency supply chain providers

ii.

Local communities, both in North Wales where the company is head quartered and communities across the UK where its projects are based

iii.

Government & regulatory bodies particularly relevant to the Company's operations including environmental regulatory bodies (NRW, SEPA, EA), health & safety (Health & Safety Executive) and taxation (HM Revenue & Customs)

iv.

The industry as a whole

v.

Financial institutions including banks, performance security providers and insurers

The Group is a family owned inter-generational business, therefore taking a long term view that considers the interests of the wider group of stakeholders underpins its approach.

KEY DECISIONS AND STRATEGIES IN THE YEAR

There have been no significant changes to Company strategy and approach during the period, with continued progression with the established plan. The Company has maintained early and open communications with members, employees, clients, suppliers, industry and financial institutions.

EMPLOYMENT POLICY

Employees are key to the success of Jones Bros. The Company has continued to reinvest in staff, plant and technology to drive efficient processes. During the year the average size of the Company's direct work force increased by 5% to 479 (456 in 2024), with an increase in the use of a short-term skilled workforce during the busier summer season for shorter periods. This approach allows the Company to build a highly skilled, flexible team across all disciplines, with a focus on upskilling the operative workforce to operate a variety of plant machinery to a high level of competency and using the in-house accredited training centre.

The Company ran an award-winning Level 2 apprenticeship scheme for over a decade, which successfully contributed to the development of many of the current workforce. It also runs a trainee scheme. These have been instrumental in fostering internal talent and supporting the Company's growth.

The Company boasts strong staff retention rates, with numerous employees having committed to the company for many years and this longevity reflects the Company's commitment to career development, training and the ongoing professional progression of its employees.

Communication and consultation with employees is a fundamental aspect of the Company's operations. Any changes made to policies or procedures are communicated to all staff through multiple channels including face to face consultation meetings, email, SMS texts, bulletins, newsletters, a Joint Consultation Committee, site visits and daily briefings.

The Company is committed to providing equal opportunities to all existing and potential employees. It is supportive of the employment and advancement of disabled and disadvantaged persons. Employees who may become disabled are, wherever possible, supported with appropriate training and equipment so that they can continue their employment within the Company.

The Directors of the Company extend their gratitude and thanks to all Jones Bros employees for their loyalty, dedication, and hard work. These efforts have been crucial to the ongoing success and growth of the business.

STREAMLINED ENERGY AND CARBON REPORTING (SECR)

Jones Bros Ruthin Co Limited discloses energy, carbon and related data for the Group aligned to the UK Government Streamlined Energy and Carbon Reporting Requirements ("SECR") and produces an Annual Energy Review in line with the requirements of the ISO 50001:2018 standard to which we are accredited. The review identifies all required energy sources, evaluates figures for energy consumption and identifies opportunities for efficiencies that can be made through changes to plant, equipment and procedures.

Group Energy Use by Area

Gas oil used by Mobile & Static Plant

89.05%

Fuel Used by Road Vehicles

9.7%

Mains Electricity at Company Offices

0.4%

The Group is committed to sustainability and strives to find sustainable practices to protect the environment. An annual carbon reduction plan is produced which outlines the Group's commitment to reducing emissions. The Group also adopted a carbon reduction target of 25% for a 5 year period from the baseline of 2019/2020.

Key Energy Efficiency Actions

- Energy Steering Group established who set the strategy and meet regularly to review the Group's performance.

- Use of energy management technology to better manage fuel across the business.

- Weekly plant telemetry data circulated around the business to help highlight inefficient operations.

- Increased the number of Hybrid Plant across the fleet.

- Internally developed Hybrid Generators rolled out at sites.

- Exploring alternative fuels and power train technology.

Group Energy Consumption

The GHG Protocol Corporate Standard classifies a company's GHG emissions into three 'scopes'. Scope 1 emissions are direct emissions from owned or controlled sources. Scope 2 emissions are indirect emissions from the generation of purchased energy. Scope 3 is not applicable to the Group.

Using Conversion Factors as detailed below in the government 'Greenhouse Gas Reporting: Conversion Factors 2024' document to calculate our CO2e emissions, we calculate 18,653 tonnes of carbon as our annual output:

Greenhouse gas reporting: conversion factors 2024 - GOV.UK (www.gov.uk)

Emissions Source

Unit

Total units

Conversion Factor

KG of CO2e

% of Total

Mobile and Static Plant - Gas Oil

litres

6,241,820

2.66155

16,612,916.02

89.059

Fuel Company Road Vehicles-DERV

litres

722,936

2.51279

1,816,586.35

9.738

Fuel - Personal Business Mileage

miles

524,049

0.27000

141,493.23

0.759

18,570,995.60

99.556

Mains Electricity Consumption (All sites)

kw/h

324,125

0.25560

82,846.35

0.444

18,653,841.95

100

Jones Bros Carbon Output

The total Carbon Output of Jones Bros Ruthin Co Limited equates to 18,653 tonnes of CO2e for the financial year 2024/25. Against Jones Bros annual turnover of £157 million this equates to 118.43 tonnes of carbon per £million of turnover for 2024/25. This is one of our EnPI (Energy Performance Indicators) for Jones Bros and shows approx. 7.0% increase from 2023/24's figure of 110.68 tonnes of carbon per £million of turnover. This equates to a cumulative 23.4% improvement/reduction in our EnPI over last 5 years.

FUTURE DEVELOPMENTS

In the 2025/26 financial year and beyond, the Company plans to continue focusing on winning civil engineering contracts and long-term partnerships. These projects will make the most of the team's specialist skills and the Group's extensive modern fleet of large plant.

The Group aims to keep a well-balanced portfolio of work across different clients, carefully managing risks while delivering sustainable solutions. It will also continue to explore ways to use new technologies and AI to improve efficiency and remains committed to being a trusted partner, delivering high-quality projects.

ON BEHALF OF THE BOARD:

Mr H G Jones - Director

30 October 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of civil engineering.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 5,000,000 .

DIRECTORS

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

Mr H G Jones

Mrs C A Johnson

Mrs H M L Morgan

Mr E Roberts

Mr G W Thomas

Mr H Lloyd-Davies

Mr G Evans

Mrs C J Griffiths

Other changes in directors holding office are as follows:

Mr J Dielhof resigned as a director of the company on 30th October 2025.

POLITICAL DONATIONS AND EXPENDITURE

During the year, charitable donations totalling £22,495 (2024: £6,702) were made.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr H G Jones - Director

30 October 2025

Opinion

We have audited the financial statements of Jones Bros. Ruthin (Civil Engineering) Co. Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of 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.

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 nine, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

We accessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;

- Obtaining an understanding of the internal controls that management have in place to prevent and detect fraud;

- Challenging assumptions and judgements made by management in its significant accounting estimates;

- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;

- Identifying and testing journal entries, in particular manual or unusual entries;

- Obtaining third party confirmations of all the companies banking arrangements;

- Performing analytical procedures to identify any unusual or unexpected relationships;

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting.

The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagements team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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.

Jason Matischok (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

30 October 2025

TURNOVER

3

150,516,923

155,711,215

Cost of sales

(137,536,304

)

(139,921,547

)

GROSS PROFIT

12,980,619

15,789,668

Administrative expenses

(6,991,135

)

(8,615,390

)

5,989,484

7,174,278

Administration recharge

-

8,307

OPERATING PROFIT and

PROFIT BEFORE TAXATION

5,989,484

7,182,585

Tax on profit

6

-

-

PROFIT FOR THE FINANCIAL YEAR

5,989,484

7,182,585

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

5,989,484

7,182,585

FIXED ASSETS

Intangible assets

8

-

-

Investments

9

1,005

1,000

1,005

1,000

CURRENT ASSETS

Debtors

10

30,889,478

32,561,238

Cash at bank

22,182,444

21,387,450

53,071,922

53,948,688

CREDITORS

Amounts falling due within one year

11

33,221,659

35,087,904

NET CURRENT ASSETS

19,850,263

18,860,784

TOTAL ASSETS LESS CURRENT LIABILITIES

19,851,268

18,861,784

CAPITAL AND RESERVES

Called up share capital

13

32

32

Retained earnings

14

19,851,236

18,861,752

SHAREHOLDERS' FUNDS

19,851,268

18,861,784

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

Mr H G Jones - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

32

16,679,167

16,679,199

Changes in equity

Dividends

-

(5,000,000

)

(5,000,000

)

Total comprehensive income

-

7,182,585

7,182,585

Balance at 31 March 2024

32

18,861,752

18,861,784

Changes in equity

Dividends

-

(5,000,000

)

(5,000,000

)

Total comprehensive income

-

5,989,484

5,989,484

Balance at 31 March 2025

32

19,851,236

19,851,268

Cash flows from operating activities

Cash generated from operations

1

5,796,932

9,896,393

Tax paid

(1,938

)

6,561

Net cash from operating activities

5,794,994

9,902,954

Cash flows from financing activities

Equity dividends paid

(5,000,000

)

(5,000,000

)

Net cash from financing activities

(5,000,000

)

(5,000,000

)

Increase in cash and cash equivalents

794,994

4,902,954

Cash and cash equivalents at beginning of year

2

21,387,450

16,484,496

Cash and cash equivalents at end of year

2

22,182,444

21,387,450

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

2025

2024

£

£

Profit before taxation

5,989,484

7,182,585

Amounts owed by group undertakings

6,890,922

(7,029,172

)

12,880,406

153,413

Increase in trade and other debtors

(5,219,168

)

(2,987,148

)

(Decrease)/increase in trade and other creditors

(1,864,306

)

12,730,128

Cash generated from operations

5,796,932

9,896,393

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

22,182,444

21,387,450

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

21,387,450

16,484,496

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank

21,387,450

794,994

22,182,444

21,387,450

794,994

22,182,444

Total

21,387,450

794,994

22,182,444

1.	STATUTORY INFORMATION

Jones Bros. Ruthin (Civil Engineering) Co. 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.

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

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimate and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate are recognised in the period which the estimate is revised where revision affects only that period, or in the period of the revisions and future periods where the revision affects both current and future periods.

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, derived from the principal activity, is calculated on the basis of the value of work executed during the period, including retentions.

Intangible assets

Intangible assets relating to computer software are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged over two years from when the asset is brought into use.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

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.

Long-term contracts

Profit on long-term contracts is recognised as the work is carried out if the financial outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related contract costs as contract activity progress.

Contract costs are recognised as the higher of actual cost to date or costs as a proportion of final costs, using the reference of turnover to date as a proportion of final turnover.

Revenue derived from variations on contracts are recognised only when they have been accepted by the customer.

Full provision is made for losses on all contracts in the year in which they are first foreseen.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost.

Provisions for liabilities

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Employee benefits

Short term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Joint arrangements

The company undertakes a number of business activities through joint arrangements. Joint arrangements exist when two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

The company's joint arrangements are joint operations.

Joint operations are joint arrangements on which parties with joint control have rights to the assets and obligations for the liabilities relating to the arrangement. The activities of a joint operation are primarily designed for the provision of output to the parties to the arrangement indicating that:

-

The parties have the rights to substantially all the economic benefits of the assets of the arrangement;

-

All liabilities are satisfied by the joint participants through their purchases of that output. This indicates, in substance, the joint participants have an obligation for the liabilities of the arrangement.

The financial statements of the Company include its share of the assets in joint operations, together with its share of the liabilities, revenues and expenses arising jointly or otherwise from those operations and its revenue derived from the sale of its share of the output from the joint operation. All such amounts are measured in accordance with the terms of each arrangement, which are usually in proportion the Company's interest in the joint operation.

3.

TURNOVER

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

All turnover arose within the United Kingdom.