Harmonix Construction Limited Cover |  |

| Harmonix Construction Limited |
|  | Company No. 03845271 |  |
|  |  | Directors' Report and Audited Financial Statements |  |  |
|  |  | 31 March 2025 |  |  |

Harmonix Construction Limited Contents |  |

|  |  |  |  |  |  | Pages |  |
Company Information |  |  |  | 2 |  |
Strategic Report |  |  |  | 3 to 5 |  |
Directors' Report |  |  |  | 6 to 7 |  |
Auditor's Report |  |  |  | 8 to 11 |  |
Statement of Comprehensive Income |  |  |  | 12 |  |
Statement of Financial Position |  |  |  | 13 |  |
Statement of Changes in Equity |  |  |  | 14 |  |
Statement of Cash Flows |  |  |  | 15 |  |
Notes to the Financial Statements |  |  |  | 16 to 29 |  |

Harmonix Construction Limited Company Information |  |

Directors |  |  |  |  |  |
J.F.P. Farragher |  |  |  |  |  |
T.T. Hunter |  |  |  |  |  |
Secretary |  |  |  |  |  |
J.F.P. Farragher |  |  |  |  |  |
Registered Office |  |  |  |  |  |
Melbury House |  |  |  |  |  |
34 Southborough Road |  |  |  |  |  |
Bromley |  |  |  |  |  |
Kent |  |  |  |  |  |
BR1 2EB |  |  |  |  |  |
Auditor |  |  |  |  |  |
Harrison Hill Castle & Co |  |  |  |  |  |
Melbury House |  |  |  |  |  |
34 Southborough Road |  |  |  |  |  |
Bickley |  |  |  |  |  |
Kent |  |  |  |  |  |
BR1 2EB |  |  |  |  |  |

Harmonix Construction Limited Strategic Report |  |

The Directors present their strategic report for the year ended 31 March 2025.
Business review |  |  |  |
• In revenue terms results for 2025 were in line with Board expectations with turnover of £30.5 million for the year to 31 March 2025 reflecting the timing of some delayed projects and our own contract selectivity strategy. As at the financial year end, the company's net asset position increased by £114,283 to £3,824,372 from £3,710,089 in 2024.
• There was a decrease in Gross Profit Margin from 16.20% to 8.39% due to natural volatility where in construction it is hard for very predictable profit levels etc… in addition we were waiting for a lot of projects to start which got delayed so even projects that have started will have more profit in next years figures than this years. In addition last year was abnormally high and successful so perhaps the likely level they we aim at is between the two – 8% is lower than we would like – but over 16% is difficult to maintain.
• Admin costs for the year were down by 15% mainly due to decrease in staffing costs and nil bad debts.
• The net pre tax result for the year shows a substantial decrease to £1.5 million compared to £4.2 million in 2023/24 mainly due to natural volatility of construction projects.
Sustainability |  |  |  |
Harmonix’s mission is to incorporate sustainable practices into all aspects of our business to fulfil our responsibilities to our environment, clients and staff whilst maintaining the high levels of working standard and quality we’re best known for. We define sustainability in a broad context; considering not only the environment, but also the people whose work we rely on to succeed. To firmly solidify our commitments to sustainability, Harmonix hired a dedicated sustainability manager to realise our goals throughout our business, including the following themes:
Environment |  |  |  |
To prioritise the health of the environment, Harmonix ensure to reduce consumption of materials on projects and throughout our head office operations. In our projects, we plan for photovoltaics to reduce energy use of our buildings, procure materials with as little single-use plastic as possible, and utilise technology to keep our water consumption at a minimum, amongst other initiatives. In our operations, we have moved our permanent head office to a co-working location (B-Corp registered) to reduce our company’s physical footprint and resource use, are investigating transforming our existing fleet into hybrid. For each tender, we research project-specific technologies and methods to make the construction and operational phases of our projects as environmentally friendly as possible. All projects we complete are certified BREEAM “Very Good” or better.
Net zero carbon |  |  |  |
In line with the UK Government’s requirements, we are in the process of understanding how our company can become carbon neutral by 2050. We support and encourage our clients to deliver Net Zero Carbon Construction and Operation using the UK Green Building Council’s framework to do so. This is done through the completion of Whole Life Cycle Carbon Assessments carried out by energy consultants. We have employed PlanetMark to provide 3rd Party authentication on our Scope 1 & 2 emissions, which was evaluated at 253.8tCO2e, averaging to 9.6tCO2e per employee. Reduction targets anticipated for the following year are set at a minimum of 5%.
Ecology |  |  |  |
As part of BREEAM requirements, we ensure the local ecology and habitats of our sites are left better than originally found by the end of project completion. We ensure this by working with ecological consultants who provide us with options and best practices for enhancing the environment with a net gain of 10%. We have partnered with Ecologi who are certified ‘B corporation, with their partnership we plant ten trees for one tree felled.
Social values |  |  |  |
Once a project has begun, Harmonix reach out to local education in the surrounding areas to encourage collaborations, through these initiatives, Harmonix have now solidified relationships with local Boroughs and worked together on programs to visit schools and speak with local students about the construction industry. The aim of this is to allow students to understand the varying job roles available in the construction industry and the pathways to get to them. Additionally, we utilize local volunteer societies to assist with company volunteer days to benefit the local environment. Outside of these initiatives, and plan on developing our Social Value plan by incorporating a set budget based on the overall value of the build (through local suppliers/labour/services) Harmonix are always searching for new opportunities to support the communities within which we work.
Sustainable procurement |  |  |  |
To ensure we build as sustainably as possible, Harmonix have drafted a sustainable procurement policy that outlines our procurement practices and goals in line with BS 8903. The purpose of the policy is to ensure that environmental considerations are incorporated into the purchasing of goods and services for production and office activities. Harmonix also audit the supply chain on a bi-annual basis as well as audit each sub-contractor on every job to better understand the performance measure and impacts we are having. It also ensures that only licensed waste carries are used to remove wastes. You can find this policy listed on Harmonix’s website. As a FORS champion, we ensure all deliveries are brought in on FORS registered vehicles which is specified in contracts and at order stage.
Circular economy |  |  |  |
We partner with specific and vetted waste companies with the goal of minimizing as much waste to landfill as possible. Recycled materials are used wherever possible throughout the project, and we are looking into initiatives and suppliers that support the circular economy mission and will be able to provide solutions for our projects. All schemes require Site Waste Management Plans with recycling targets are always adhered to, with a minimum 98% recycling target.
Modern slavery and the workforce |  |  |  |
Harmonix have an absolute zero-tolerance approach to modern slavery and are fully committed to preventing slavery and human trafficking in our operations and supply chain. We have drawn up a statement which sets out the actions that we have taken to understand all potential modern slavery risks related to our business, and steps we implement to prevent slavery and human trafficking throughout our supply chain, which you can find on our website. We regularly offer Toolbox Talks to site teams about the impact and what triggers to look out for. We also provide several methods of contact on sites in the event someone wishes to speak out but does not feel comfortable doing so face-to-face and wishes to either remain anonymous or not draw attention. We are a proud member of the GLAA (Gangmaster and Leader Abuse Authority) and utilize their platform to ensure maximum compliance and further educate the wider workforce.
Equality and diversity |  |  |  |
Harmonix believe fundamentally that unique perspectives only broaden the quality of work we can achieve, and we strive to ensure our business operates with input from a variety of people. We are committed to providing opportunities to all employees, whilst ensuring their working environments are suitable, respectful, and uplifting. Our commitment to diversity and equality emphasizes other pillars of our business, aligning with our recruitment structure and how we interact with suppliers and sub-contractors.
In line with Equality Act 2010 Harmonix do not in any form discriminate on any basis, but especially on the bases of age, gender, disability, marriage status, race, religion or belief, sex, or sexual orientation. This first and foremost applies to our employees, but we also hold this to be true for all who interact with our business, including clients, sub-contractors, and suppliers. We are currently developing our first ESG report and we plan to break down and report figures relating to this. As members of the GBC, employee wellbeing is critical to our business model, and this reflects through having employee representation in the form of a ‘FIR’ (Fairness, inclusion, respect) ambassador.
Financial and other key performance indicators: |  |  |  |
The company's key performance indicators during the year were as follows:
| Key financial performance indicators: |  | Unit | 2025 | 2024
1 | Turnover |  | £ | 30,522,758 | 34,348,173
2 | Gross Profit |  | £ | 2,563,510 | 5,565,215
3 | Gross Margin |  | % | 8 | 16
4 | Net Profit before Tax |  | £ | 1,493,547 | 4,263,667
Principal risks and uncertainties |  |  |  |
1 | The principal risk at this time is the continued economic uncertainty causing many clients to become more reticent to proceed with projects. Increased borrowing costs has also impacted the feasibility of some schemes. Thankfully the Light Industrial Sector where most of our work is concentrated has proven more resilient than other sectors in this regard.
2 | High rates of inflation still persist and whilst we are starting to see these cost increases dampen it still an important factor not only in terms of cost control but determining whether schemes are viable to construct from a client's perspective.
3 | Labour shortages in the UK economy continue to have an effect which in practice means that additional forward planning is required to mitigate such problems. In addition, we have to be realistic in the growth aspirations of our business in the short term as such business plans need to reflect the reality of trying to prudently grow in a market where labour demand outstrips supply.
4 | Whilst we have always worked closely with our supply chain and remain vigilant in assessing the financial stability of the companies we work with, the present economic outlook brings additional focus to importance of this task.
Signed on behalf of the board |  |
J.F.P. Farragher |  |  |  |
Company Secretary |  |  |  |
23 July 2025 |  |  |  |

Harmonix Construction Limited Directors Report |  |

The Directors present their report and the financial statements for the year ended 31 March 2025.
Principal activities |  |  |  |  |  |
The principal activity of the company during the year under review was that of building management, construction and refurbishment contractors.
Directors |  |  |  |  |
The Directors who served at any time during the year were as follows: |  |
J.F.P. Farragher |  |  |  |  |  |  |
T.T. Hunter |  |  |  |  |  |  |
Results and dividends |  |  |  |  |
The profit for the year, after taxation, amounted to £1,114,283 (2024 : £3,191,596). Further business review is mentioned in the strategic report. The directors do not propose a dividend to the shareholders.
Financial instruments |  |  |  |  |
The company has financial instruments such as cash and bank, trade debtors and trade creditors which directly arise from its operations. The main risks arising from its financial instruments are credit risk and liquidity risk. Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. The company only trades with credit worthy and reputable organisations. Receivable balances are monitored regularly so that the exposure to bad debts is not significant. Liquidity risk is the risk that company will not be able to meet its financial obligations as they fall due. The company maintains a level of cash and cash equivalents deemed adequate by the management to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they fall due.
Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts 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 accounts 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 accounts, the directors are required to:
* | select suitable accounting policies and then apply them consistently;
* | make judgements and estimates that are reasonable and prudent;
* | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statments; and
* | 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 of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information 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 information and to establish that the company's auditors are aware of that information.
Signed on behalf of the board |  |  |  |
J.F.P. Farragher |  |  |  |  |  |
Company Secretary |  |  |  |  |  |
23 July 2025 |  |  |  |  |  |

Harmonix Construction Limited Audit Report Unqualified |  |

Independent Auditor's Report to the members of Harmonix Construction Limited
Opinion |
We have audited the financial statements of Harmonix Construction Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and the Notes to the Financial Statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 Auditor’s 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 accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts 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 accounts are authorised for issue.
Our responsibilities and the responsibillities of the directors with respect to going concern are described in the relevant sections of this report.
Other information |
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.
Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based upon the work undertaken in the course of the audit:
| • the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
| • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
| • the financial statements are not in agreement with the accounting records and returns; or
| • certain disclosures of directors’ remuneration specified by law are not made; or
| • we have not received all the information and explanations we require for our audit.
Responsibilities of directors |
As explained more fully in the directors’ responsibilities statement found in the directors' report, 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 is 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.
Auditor's responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
•Identify and assess the risks of material misstatement of the company’s financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. We include an explanation in our auditor’s report of the extent to which the audit was capable of detecting irregularities, including fraud.
•Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.
•Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
•Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that the use of the going concern basis of accounting is appropriate and no material uncertainties have been identified, we report these conclusions in our auditor’s report. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
•Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (i.e. gives a true and fair view).
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
•the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
•we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant business sector;
•we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
•we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
•identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
•making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
•considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
To address the risk of fraud through management bias and override of controls, we:
•performed analytical procedures to identify any unusual or unexpected relationships;
•tested journal entries to identify unusual transactions;
•assessed whether judgements and assumptions made in determining the accounting estimates set out in (Note 3) were indicative of potential bias;
•investigated the rationale behind significant or unusual transactions; and
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
•agreeing financial statement disclosures to underlying supporting documentation;
•reading the minutes of meetings of those charged with governance;
•enquiring of management as to actual and potential litigation and claims;
•reviewing correspondence with HMRC and the company’s legal advisors; and
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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 the auditors report.
Use of this report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Paul Castle BA BFP FCA
Senior Statutory Auditor
For and on behalf of | Harrison Hill Castle & Co |  |  |  |
Accountants and Statutory Auditors
Melbury House
34 Southborough Road
Bickley
Kent
BR1 2EB
23 July 2025 |  |  |  |  |

Harmonix Construction Limited Statement of Comprehensive Income |  |

for the year ended 31 March 2025 |  |  |  |  |
|  |  |  |  |  | Notes | 2025 |  |  |  | 2024
|  |  |  |  |  |  | £ |  |  |  | £
Revenue |  | 4 | 30,522,758 |  |  |  | 34,348,173
Cost of sales |  |  | (27,959,248) |  |  |  | (28,782,958)
Gross profit |  |  | 2,563,510 |  |  |  | 5,565,215
Distribution costs and selling expenses |  |  | (29,701) |  |  |  | (35,045)
Administrative expenses |  |  | (1,125,003) |  |  |  | (1,327,727)
Operating profit |  | 5 | 1,408,806 |  |  |  | 4,202,443
Other interest receivable |  | 8 | 89,043 |  |  |  | 61,224
Interest payable and similar charges |  | 9 | (4,302) |  |  |  | -
Profit on ordinary activities before taxation |  |  | 1,493,547 |  |  |  | 4,263,667
Taxation |  | 10 | (379,264) |  |  |  | (1,072,071)
Profit for the financial year after taxation |  |  | 1,114,283 |  |  |  | 3,191,596
Other comprehensive income |  |  | - |  |  |  | -
Total comprehensive income/(loss) |  |  | 1,114,283 |  |  |  | 3,191,596

Harmonix Construction Limited Statement of Financial Position |  |

at | 31 March 2025 |  |  |  |  |  |
Company No. | 03845271 | Notes | 2025 |  |  |  | 2024
|  |  |  |  |  | £ |  |  |  | £
Fixed assets |  |  |  |  |  |
| Tangible assets | 11 | 20,097 |  |  |  | 26,787
| Investments | 12 | 1 |  |  |  | 1
|  |  |  |  |  | 20,098 |  |  |  | 26,788
Current assets |  |  |  |  |  |
| Stocks | 13 | 237,616 |  |  |  | -
| Debtors | 14 | 5,555,759 |  |  |  | 6,397,644
| Cash at bank and in hand |  | 4,610,061 |  |  |  | 3,789,412
|  |  |  |  |  | 10,403,436 |  |  |  | 10,187,056
Creditors: Amount falling due within one year | 15 | (6,594,209) |  |  |  | (6,497,145)
Net current assets |  | 3,809,227 |  |  |  | 3,689,911
Total assets less current liabilities |  | 3,829,325 |  |  |  | 3,716,699
Provisions for liabilities |  |  |  |  |  |
| Deferred taxation | 16 | (4,953) |  |  |  | (6,610)
Net assets |  | 3,824,372 |  |  |  | 3,710,089
Capital and reserves |  |  |  |  |  |
| Called up share capital | 17 | 500 |  |  |  | 500
| Share premium account | 18 | 39,002 |  |  |  | 39,002
| Capital redemption reserve | 18 | 711 |  |  |  | 711
| Profit and loss account | 18 | 3,784,159 |  |  |  | 3,669,876
Total equity |  | 3,824,372 |  |  |  | 3,710,089
Approved by the board on 23 July 2025 and signed on its behalf by: |  |  |  |
J.F.P. Farragher |  | T. T. Hunter
Director |  | Director
23 July 2025 |  |  |  | 23 July 2025 |  |

Harmonix Construction Limited Statement of Changes in Equity |  |

for the year ended 31 March 2025 |  |  |  |  |  |  |  |
|  |  |  | Share Capital |  | Share Premium |  | Other Reserves |  | Retained earnings |  | Total equity
|  |  |  | £ |  | £ |  | £ |  | £ |  | £
| At 1 April 2023 | 500 |  | 39,002 |  | 711 |  | 2,478,280 |  | 2,518,493
| Profit for the period |  |  |  |  |  |  | 3,191,596 |  | 3,191,596
| Contribution to Employee Ownership Trust |  |  |  |  | - |  | (2,000,000) |  | (2,000,000)
| At 31 March 2024 and 1 April 2024 | 500 |  | 39,002 |  | 711 |  | 3,669,876 |  | 3,710,089
| Profit for the period |  |  |  |  |  |  | 1,114,283 |  | 1,114,283
| Contribution to Employee Ownership Trust |  |  |  |  | - |  | (1,000,000) |  | (1,000,000)
| At 31 March 2025 | 500 |  | 39,002 |  | 711 |  | 3,784,159 |  | 3,824,372

Harmonix Construction Limited Statement of Cash Flows |  |

for the year ended 31 March 2025 |  |  |  |  |
|  | 2025 |  |  |  | 2024
|  | £ |  |  |  | £
Cash flows from operating activities |  |  |  |  |
| Operating profit | 1,408,806 |  |  |  | 4,202,443
Adjustments for: |  |  |  |  |
| Depreciation of property, plant and equipment | 6,690 |  |  |  | 10,041
| (Increase)/Decrease in stocks | (237,616) |  |  |  | 373,114
| Decrease/(Increase) in trade and other receivables | 841,885 |  |  |  | (1,744,087)
| Increase in trade and other payables | 739,795 |  |  |  | 1,735,252
Net cash generated from operations | 2,759,560 |  |  |  | 4,576,763
| Interest paid | (4,302) |  |  |  | -
| Income taxes paid | (1,023,652) |  |  |  | (448,159)
Net cash generated from operating activities | 1,731,606 |  |  |  | 4,128,604
Cash flows from investing activities |  |  |  |  |
| Interest received | 89,043 |  |  |  | 61,224
Net cash from investing activities | 89,043 |  |  |  | 61,224
Cash flows from financing activities |  |  |  |  |
| Contribution to Employee Ownership Trust | (1,000,000) |  |  |  | (2,000,000)
Net cash used in financing activities | (1,000,000) |  |  |  | (2,000,000)
Net increase in cash and cash equivalents | 820,649 |  |  |  | 2,189,828
Cash and cash equivalents at the beginning of the year | 3,789,412 |  |  |  | 1,599,584
Cash and cash equivalents at the end of the year | 4,610,061 |  |  |  | 3,789,412
Components of cash and cash equivalents |  |  |  |  |
| Cash and bank balances | 4,610,061 |  |  |  | 3,789,412
|  | 4,610,061 |  |  |  | 3,789,412

Harmonix Construction Limited Notes to the Financial Statements |  |

for the year ended 31 March 2025 |  |  |  |  |  |  |  |  |  |

1 | General information |  |  |  |  |
| Harmonix Construction Limited is a private company limited by shares and incorporated in England and Wales.
| Its registered number is: 03845271 |  |  |  |  |  |  |  |
| Its registered office is: |  |  |  | Its trading address is: |  |  |  |  |  |
| Melbury House |  |  |  |  | Work Life Liverpool Street |  |  |  |  |  |
| 34 Southborough Road |  |  |  |  | 4 Crown Place |  |  |  |  |  |
| Bromley |  |  |  |  | London |  |  |  |  |  |
| Kent |  |  |  |  |  |  |  |  |  |  |
| BR1 2EB |  |  |  |  | EC2A 4BT |  |  |  |  |  |
| The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound. |  |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below. |  |
30 | The financial statements have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The company has not prepared group accounts and hence not included its only subsidiary on the grounds that it would be immaterial for the purpose of giving a true and fair view as the subsidiary is not trading. The financial statements present information about the company as an individual entity and not about its group. |  |

2 | Accounting policies |  |  |  |  |  |  |  |  |  |

| Revenue recognition |  |  |  |  |  |  |  |  |  |
| Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |  |

| Taxation |  |  |  |  |  |  |  |  |  |
| Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. |  |

| Tangible fixed assets and depreciation |  |  |  |  |  |  |  |  |  |
| Land and buildings held and used in the Company's own activities for production and supply of goods or for administrative purposes are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve. Depreciation on revalued buildings is charged to profit or loss so as to write off their value, less residual value, over their estimated useful lives, using the straight-line method. Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised. |  |
| Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation on plant and equipment is charged to profit or loss so as to write off their value, over their estimated useful lives, using the straight-line method. Assets held under finance leases are depreciated in the same manner as owned assets. At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately. |  |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |  |
|  | Motor vehicles |  | 25% Reducing balance |  |  |  |  |  |  |  |
|  | Furniture, fittings and equipment |  | 20 to 33% 20% reducing balance on F&F, 33% St Line on office equipment |  |  |  |  |  |  |  |

| Fixed asset investments |  |  |  |  |  |  |  |  |  |
| Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities. |  |

| Construction Contracts |  |  |  |  |  |  |  |  |  |
| When the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. When it is probable that the total contract costs will exceed total contract turnover, the expected loss is recognised as expense immediately. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. The percentage of completion method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract cost incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. |  |

| Trade and other debtors |  |  |  |  |  |  |  |  |  |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts. |  |

| Cash and cash equivalents |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. |  |

| Financial instruments |  |  |  |  |  |  |  |  |  |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument. Investments in non-convertible preference shares and non-puttable ordinary and preference shares are measured: • At fair value with changes recognised in the Income Statement if the shares are publicly traded or their fair value can otherwise be measured reliably; • At cost less impairment for all other investments. Financial assets, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected. For all other financial assets, objective evidence of impairment could include: • significant financial difficulty of the issuer or counterparty; or • breach of contract, such as a default or delinquency in interest or principal payments; or • it becoming probable that the borrower will enter bankruptcy or financial re-organisation; or • the disappearance of an active market for that financial asset because of financial difficulties. |  |

| Financial Instruments (Continued) |  |  |  |  |  |  |  |  |  |
| For certain categories of financial asset, such as trade receivables, assets that are assessed not to be impaired individually are, in addition, assessed for impairment on a collective basis. Objective evidence of impairment for a portfolio of receivables could include the Company's past experience of collecting payments, an increase in the number of delayed payments in the portfolio past the average credit period of 50 days, as well as observable changes in national or local economic conditions that correlate with default on receivables. For financial assets carried at amortised cost, the amount of the impairment loss recognised is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate. For financial assets carried at cost, the amount of the impairment loss is measured as the difference between the asset's carrying amount and the present value of the estimated future cash flows discounted at the current market rate of return for a similar financial asset. Such impairment loss will not be reversed in subsequent periods. The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against the allowance account. Changes in the carrying amount of the allowance account are recognised in profit or loss. For financial assets measured at amortised cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortised cost would have been had the impairment not been recognised. |  |

| Trade and other creditors |  |  |  |  |  |  |  |  |  |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |  |

| Related parties |  |  |  |  |  |  |  |  |  |
| For the purposes of these financial statements, a party is considered to be related to the Company if: • the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the Company; • the Company and the party are subject to common control; • the party is an associate of the Company or a joint venture in which the Company is a venturer; • the party is a member of key management personnel of the Company or the Company’s parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals; • the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or • the party is a post-employment benefit plan which is for the benefit of employees of the Company or of any entity that is a related party of the Company. Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity. |  |

| Leased assets |  |  |  |  |  |  |  |  |  |
| Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases. Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above). Contingent rentals are recognised as expenses in the periods in which they are incurred. Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. |  |

| Defined contribution pensions |  |  |  |  |  |  |  |  |  |
| The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as an expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. |  |

| Provisions |  |  |  |  |  |  |  |  |  |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial position. |  |

3 | Critical accounting judgements and key sources of estimation uncertainty |  |  |  |  |  |
| The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below. |  |
| In the application of 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 estimates. |  |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision only affects that period, or in the period of the revision and future periods where the revision affects both current and future periods. The key accounting estimates are depreciation policies, accruals, provision for bad debts and completion stages of construction projects. |  |

4 |  | Revenue Analysis |  |  |  |  |  |  |  |  |  |
|  | Revenue, analysed geographically between markets, was as follows: |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | United Kingdom |  |  |  | 30,522,758 |  |  |  | 34,348,173 |  |
|  |  |  |  |  |  |  |  |  | 30,522,758 |  |  |  | 34,348,173 |  |
|  | Revenue, analysed by category, was as follows: |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | Rendering of services- construction |  |  |  | 30,522,758 |  |  |  | 34,348,173 |  |
|  |  |  |  |  |  |  |  |  | 30,522,758 |  |  |  | 34,348,173 |  |

5 | Operating Profit |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  | This is stated after charging: |  |  |  | £ |  |  |  | £ |  |
|  | Depreciation of owned fixed assets |  |  |  | 6,690 |  |  |  | 10,041 |  |
|  | Auditors' remuneration for: |  |  |  |  |  |  |  |  |  |
|  | Audit of the company's annual accounts |  |  |  | 10,000 |  |  |  | 9,000 |  |
|  | Operating lease rentals: |  |  |  |  |  |  |  |  |  |
|  | Land and buildings |  |  |  | 52,766 |  |  |  | 49,117 |  |

6 | Staff costs |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  | Staff costs during the year (including directors) were as follows: |  | £ |  |  |  | £ |  |
|  | Wages and salaries |  |  |  | 1,569,233 |  |  |  | 1,580,074 |  |
|  | Social security costs |  |  |  | 234,829 |  |  |  | 248,138 |  |
|  | Other pension costs |  |  |  | 141,094 |  |  |  | 139,544 |  |
|  | Total in company |  | 1,945,156 | 30 |  |  | 1,967,756 |  |
|  | Costs in respect of defined contribution schemes |  | 141,094 |  |  |  | 139,544 |  |
|  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |
|  | The average monthly number of employees (including directors) during the year was: |  | Number |  |  |  | Number |  |
|  |  |  | 29 |  |  |  | 25 |  |
|  | Total in company |  | 29 |  |  |  | 25 |  |

7 | Directors' remuneration |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  | Remuneration included within staff costs - Note 6 - in respect of directors was as follows: |  | £ |  |  |  | £ |  |
|  | Aggregate remuneration in respect of qualifying services |  | 69,706 |  |  |  | 65,156 |  |
|  | Aggregate of company contributions to defined contribution pension schemes |  | 43,594 |  |  |  | 42,044 |  |
|  | Total remuneration |  | 113,300 | 43595 |  |  | 107,200 |  |

8 | Interest receivable |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | Bank interest receivable |  |  |  | 89,043 |  |  |  | 61,224 |  |
|  |  |  |  |  |  |  |  |  | 89,043 |  |  |  | 61,224 |  |

9 | Interest payable and similar charges |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  |  |  |
|  | Other interest payable |  |  |  | 4,302 |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 4,302 |  |  |  |  |  |

10 | Taxation |  |  |  |  |  |  |  |  |  |
|  | (a) Tax on profit on ordinary activities |  |  | 2025 |  |  |  | 2024 |  |
|  | The tax charge is made up as follows: |  |  |  | £ |  |  |  | £ |  |
|  | UK corporation tax |  |  |  |  |  |  |  |  |  |
|  | Charge for the period |  |  |  | 380,921 |  |  |  | 1,074,562 |  |
|  | Total corporation tax |  |  |  | 380,921 |  |  |  | 1,074,562 |  |
|  | Origination and reversal of timing differences |  |  | (1,657) |  |  |  | (2,491) |  |
|  | Total deferred tax |  |  |  | (1,657) |  |  |  | (2,491) |  |
|  | Tax on profit on ordinary activities |  |  |  | 379,264 |  |  |  | 1,072,071 |  |
|  | (b) Factors affecting the total tax charge for the period |  |  |  |  |  |  |
|  | The tax assessed for the year is higher than the standard rate of corporation tax in the UK of 25% (2024: 25%). The differences are reconciled below: |  |
|  | Higher |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  | 5877 |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | Profit on ordinary activities before tax |  |  |  | 1,493,547 |  |  |  | 4,263,667 |  |
|  | Standard rate of corporation tax in the United Kingdom |  | 25% |  |  |  | 25% |  |
|  | Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom |  | 373,387 |  |  |  | 1,065,917 |  |
|  | Expenses not deductible for tax purposes |  | 7,534 |  |  |  | 8,645 |  |
|  | Deferred tax adjustments |  | (1,657) |  |  |  | (2,491) |  |
|  | Tax on profit on ordinary activities |  |  |  | 379,264 |  |  |  | 1,072,071 |  |

11 | Tangible fixed assets |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Motor vehicles |  | Fixtures, fittings and equipment |  | Total |  |
|  |  |  |  |  |  |  |  |  | £ |  | £ |  | £ |  |
|  | Cost or revaluation |  |  |  |  |  |  |  |  |  |  |  |
|  | At 1 April 2024 |  |  |  |  |  | 91,773 |  | 51,854 |  | 143,627 |  |
|  | Disposals |  |  |  |  |  | - |  | (22,844) |  | (22,844) |  |
|  | At 31 March 2025 |  |  |  |  |  | 91,773 |  | 29,010 |  | 120,783 |  |
|  | Depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |
|  | At 1 April 2024 |  |  |  |  |  | 67,532 |  | 49,308 |  | 116,840 |  |
|  | Charge for the year |  |  |  |  |  | 6,058 |  | 632 |  | 6,690 |  |
|  | Disposals |  |  |  |  |  | - |  | (22,844) |  | (22,844) |  |
|  | At 31 March 2025 |  |  |  |  |  | 73,590 |  | 27,096 |  | 100,686 |  |
|  | Net book values |  |  |  |  |  |  |  |  |  |  |  |
|  | At 31 March 2025 |  |  |  |  |  | 18,183 |  | 1,914 |  | 20,097 |  |
|  | At 31 March 2024 |  |  |  |  |  | 24,241 |  | 2,546 |  | 26,787 |  |

12 | Investments |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | Subsidiaries |  | Total |  |
|  |  |  |  |  |  |  |  |  |  |  | £ |  | £ |  |
|  | Cost or valuation |  |  |  |  |  |  |  |  |  |  |  |
|  | At 1 April 2024 |  |  |  |  |  |  |  | 1 |  | 1 |  |
|  | At 31 March 2025 |  |  |  |  |  |  |  | 1 |  | 1 |  |
|  | Accumulated impairment |  |  |  |  |  |  |  |  |  |  |  |
|  | Net book values |  |  |  |  |  |  |  |  |  |  |  |
|  | At 31 March 2025 |  |  |  |  |  |  |  | 1 |  | 1 |  |
|  | At 31 March 2024 |  |  |  |  |  |  |  | 1 |  | 1 |  |
|  | Investment in Subsidiaries |  |  |  |  |  |  |  |  |  |  |  |
|  | The company has the following subsidiary undertakings: |  |  |  |  |  |  |  |
|  | Name of company and nature of business |  | Country of incorpor- ation (if not UK) | Class of shares held |  | % age of shares held |  | Capital and reserves at end of the relevant year |  | Profit/(loss) for the relevant year |  |
|  |  |  |  |  |  | % |  | £ |  | £ |  |
|  | BSC Building Services Ltd - construction, 34 Southborough Road, Bickley Bromley, Kent BR1 2EB |  |  | Ordinary |  | 100 |  | (17,415) |  | (103) |  |

13 | Stocks |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | Work in progress |  |  |  | 237,616 |  |  |  | - |  |
|  |  |  |  |  |  |  |  |  | 237,616 |  |  |  | - |  |

14 | Debtors |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | Trade debtors |  |  |  | 2,296,874 |  |  |  | 5,191,677 |  |
|  | Amounts owed by group undertakings |  |  |  | 66,043 |  |  |  | 66,043 |  |
|  | Corporation tax recoverable |  |  |  | 14,525 |  |  |  | 14,525 |  |
|  | Loans to directors |  |  |  | 40,632 |  |  |  | 40,632 |  |
|  | Other debtors |  |  |  | 19,618 |  |  |  | 19,618 |  |
|  | Prepayments and accrued income |  |  |  | 3,118,067 |  |  |  | 1,065,149 |  |
|  |  |  |  |  |  |  |  |  | 5,555,759 |  |  |  | 6,397,644 |  |
|  | The amount due from subsidiary is repayable on demand, is unsecured and does not incur any interest. Prepayments and accrued income include prepayments of £8,375 (2024 : £8,056) and accrued income of £3,109,692 (2024 : £1,057,093).

15 | Creditors: |  |  |  |  |  |  |  |  |  |  |
| amounts falling due within one year |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | Trade creditors |  |  |  | 246,801 |  |  |  | 117,644 |  |
|  | Corporation tax |  |  |  | 288,076 |  |  |  | 930,807 |  |
|  | Other taxes and social security |  |  |  | 646,537 |  |  |  | 675,319 |  |
|  | Other creditors |  |  |  | 10,844 |  |  |  | 14,634 |  |
|  | Accruals and deferred income |  |  |  | 5,401,951 |  |  |  | 4,758,741 |  |
|  |  |  |  |  |  |  |  |  | 6,594,209 |  |  |  | 6,497,145 |  |
|  | Accruals and deferred income represents general accruals of £13,461 (2024 : £10,961), deferred income of £nil (2024 : £322,263) and sub contractor applications and retentions of £5,388,490 (2024 : £4,425,517). |

16 | Provisions for liabilities |  |  |  |  |  |  |  |  |  |  |
|  | Deferred taxation |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Accelerated capital allowances, losses and other timing differences |  |  |  | Total |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | At 31 March 2025 |  |  |  |  |  | 4,953 |  |  |  | 4,953 |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | Accelerated capital allowances |  |  |  | 4,953 |  |  |  | 6,610 |  |
|  |  |  |  |  |  |  |  |  | 4,953 |  |  |  | 6,610 |  |

17 | Share Capital |  |  |  |  |  |  |  |  |  |  |
|  | Called-up share capital represents the nominal value of shares that have been issued. |  | Nominal value |  | 2025 |  | 2025 |  | 2024 |  |
|  |  | £ |  | Number |  | £ |  | £ |  |
|  | Allotted, called up and fully paid: |  |  |  |  |  |  |  |  |  |
|  | A ordinary shares |  | 0.001 |  | 500,000 |  | 500 |  | 500 |  |
|  |  |  |  |  |  |  |  |  |  |  | 500 |  | 500 |  |

18 | Reserves |  |  |  |  |  |  |  |  |  |  |
|  | Other reserves |  |  |  |  |  | Capital redemption reserve |  | Total other reserves |  |
|  |  |  |  |  |  |  |  |  |  |  | £ |  | £ |  |
|  | At 1 April 2023 |  |  |  |  |  | 711 |  | 711 |  |
|  | At 31 March 2024 and 1 April 2024 |  |  |  |  |  | 711 |  | 711 |  |
|  | At 31 March 2025 |  |  |  |  |  | 711 |  | 711 |  |
|  | Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium. |  |
|  | Capital redemption reserve - records the nominal value of shares repurchased by the company. |  |
|  | Profit and loss account - includes all current and prior period retained profits and losses. |  |

19 | Reconciliation of net debt |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | At 1 April 2024 |  | Cash flows |  | New HP/Finance leases |  | At 31 March 2025 |  |
|  |  |  |  |  |  |  | £ |  | £ |  | £ |  | £ |  |
|  | Cash and cash equivalents |  |  |  | 3,789,412 |  | 820,649 |  |  |  | 4,610,061 |  |
|  |  |  |  |  |  |  | 3,789,412 |  | 820,649 |  | - |  | 4,610,061 |  |
|  | Net debt |  |  |  | 3,789,412 |  | 820,649 |  | - |  | 4,610,061 |  |

20 | Commitments |  |  |  |  |  |  |  |  |  |  |
|  | Capital commitments |  |  |  | 2025 |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  |  |  |
|  | Operating lease commitments |  |  |  |  |  |  |  |  |  |
|  | Annual commitments under non-cancellable operating leases are as follows: |  |  |  |
|  |  |  |  |  |  |  | 2025 |  | 2025 |  | 2024 |  |  |  |
|  |  |  |  |  |  |  | Land and buildings |  | Other |  | Land and buildings |  |  |  |
|  |  |  |  |  |  |  | £ |  | £ |  | £ |  |  |  |
|  | Operating leases with expiry date: |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 2025 |  |  |  | 2024 |  |
|  |  |  |  |  |  |  |  |  | £ |  |  |  | £ |  |
|  | The pension cost charge to the company amounted to: |  |  |  | 141,094 |  |  |  | 139,544 |  |
|  | Unpaid contributions due to the fund are included in other creditors and amounted to: |  |  | 10,844 |  |  |  | 14,635 |  |

21 | Advances and credits to directors |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | 2025 |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | £ |  |
|  | At 1 April 2024 |  |  |  |  |  |  |  |  |  | 40,632 |  |
|  | At 31 March 2025 |  |  |  |  |  |  |  | 40,632 |  |
|  | This amount is due from J. F. P. Farraghar included in other directors. |  |

22 | Related party disclosures |  |  |  |  |  |  |  |  |  |  |
|  | On 18 November 2020, The Harmonix Employee Ownership Trust (The EOT) acquired 500,000 £0.001 shares, being 100% of the Company's share capital. During the year £1,000,000 (2024 : £2,000,000) has been contributed by the Company to the EOT and treated as a deduction from equity and was financed from cash reserves.
|  | Controlling party |  |  |  |  |  |  |  |  |  |  |  |
|  | Immediate controlling party: |  |  |  |  |  |  |  |  |  |
|  | The company is controlled by the trustees of Harmonix Construction Limited being the corporate trustee of The Harmonix Employee Ownership Trust. |  |

Harmonix Construction Limited 03845271 31 March 2025 01 April 2024 false 23 July 2025 23 July 2025 BTCSoftware AP Solution 2025 12.1.02 12.1.02 03845271 2024-04-01 2025-03-31 03845271 2025-03-31 03845271 bus:Director1 2024-04-01 2025-03-31 03845271 bus:Director2 2024-04-01 2025-03-31 03845271 bus:CompanySecretary1 2024-04-01 2025-03-31 03845271 bus:RegisteredOffice 2024-04-01 2025-03-31 03845271 2023-04-01 2024-03-31 03845271 2024-03-31 03845271 core:WithinOneYear 2025-03-31 03845271 core:WithinOneYear 2024-03-31 03845271 core:ShareCapital 2025-03-31 03845271 core:ShareCapital 2024-03-31 03845271 core:SharePremium 2025-03-31 03845271 core:SharePremium 2024-03-31 03845271 core:CapitalRedemptionReserve 2025-03-31 03845271 core:CapitalRedemptionReserve 2024-03-31 03845271 core:RetainedEarningsAccumulatedLosses 2025-03-31 03845271 core:RetainedEarningsAccumulatedLosses 2024-03-31 03845271 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03845271 core:ShareCapital 2024-04-01 03845271 core:SharePremium 2024-04-01 03845271 core:OtherReservesSubtotal 2024-04-01 03845271 core:RetainedEarningsAccumulatedLosses 2024-04-01 03845271 2024-04-01 03845271 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 03845271 core:OtherReservesSubtotal 2025-03-31 03845271 countries:UnitedKingdom 2024-04-01 2025-03-31 03845271 core:LandBuildings 2024-04-01 2025-03-31 03845271 core:VehiclesPlantMachinery 2024-04-01 2025-03-31 03845271 core:MotorVehicles 2024-04-01 2025-03-31 03845271 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 03845271 countries:UnitedKingdom 2024-04-01 2025-03-31 03845271 countries:UnitedKingdom 2023-04-01 2024-03-31 03845271 core:OwnedAssets 2024-04-01 2025-03-31 03845271 core:OwnedAssets 2023-04-01 2024-03-31 03845271 core:LandBuildingsUnderOperatingLeases 2024-04-01 2025-03-31 03845271 core:LandBuildingsUnderOperatingLeases 2023-04-01 2024-03-31 03845271 core:MotorVehicles 2024-04-01 03845271 core:FurnitureFittingsToolsEquipment 2024-04-01 03845271 core:MotorVehicles 2025-03-31 03845271 core:FurnitureFittingsToolsEquipment 2025-03-31 03845271 core:MotorVehicles 2024-03-31 03845271 core:FurnitureFittingsToolsEquipment 2024-03-31 03845271 core:CostValuation 2024-04-01 03845271 core:CostValuation 2025-03-31 03845271 core:Subsidiary1 2024-04-01 2025-03-31 03845271 core:AcceleratedTaxDepreciationDeferredTax 2025-03-31 03845271 core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03845271 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 03845271 bus:OrdinaryShareClass1 2025-03-31 03845271 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03845271 core:CapitalRedemptionReserve 2023-04-01 03845271 core:OtherReservesSubtotal 2023-04-01 03845271 core:CapitalRedemptionReserve 2024-04-01 03845271 core:SharePremium 2024-04-01 2025-03-31 03845271 core:CapitalRedemptionReserve 2024-04-01 2025-03-31 03845271 bus:FRS102 2024-04-01 2025-03-31 03845271 bus:FullAccounts 2024-04-01 2025-03-31 03845271 bus:Audited 2024-04-01 2025-03-31 03845271 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares