ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

Registered number: 01210655

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

COMPANY INFORMATION

Directors	B Birdsall
	K Chambers
	P Birdsall
	L Culliton
	M Clarke
	D R Upton (appointed 18 April 2024)


Company secretary	K Chambers


Registered number	01210655


Registered office	13 Avebury Court
	Mark Road
	Hemel Hempstead
	Herts
	HP2 7TA


Independent auditor	Hillier Hopkins LLP
	Chartered Accountants & Statutory Auditor
	Radius House
	51 Clarendon Road
	Watford
	Herts
	WD17 1HP

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

CONTENTS

	Page
Strategic Report	1
Directors' Report	2 - 3
Independent Auditor's Report	4 - 7
Statement of Comprehensive Income	8
Balance Sheet	9 - 10
Statement of Changes in Equity	11
Notes to the Financial Statements	12 - 25

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Introduction

The Directors present their strategic report for the year ended 31 March 2025. The results for the year demonstrate that the investments and the realignment of business operations, aimed at enabling more focused growth, are progressing well.

Business review

The company has increased profitability in the year after the prior year was significantly affected by internal investments in infrastructure and a large project that delivered a loss. The reorganisation of all our existing business units continues will be completed in 2025 to enable the business to focus on its core markets.

The Company will now focus on its core strengths of maintenance and repair services which have minimal risk.

The Directors plan for the business to deliver improved profitability in 2025 and beyond with the focus on growing the business in core niche markets.

Principal risks and uncertainties

The Companies three maintenance business units operate in relatively secure markets serving a wide variety of clients with multi-year contracts.

Rising labour costs and a scarcity of experienced engineers in the marketplace continues to be a risk to the business. Our investment in the Birdsall Academy and technology continues to help mitigate this risk.

Financial key performance indicators

Productivity and gross profits have performed well in two business units, with improvements required in the other business unit.

Inflation has increased our costs and affected our bottom line.

It remains a focus of the Directors to continue to build up the Companies retained earnings.

Other key performance indicators

Birdsall are established in markets that will all benefit from the growing drive to decarbonise the UK economy and improve building efficiencies.

The opportunities available to Birdsall will further develop as our services value become more widely recognised.

This report was approved by the board and signed on its behalf.

P Birdsall

Director

Date: 28 November 2025

Page 1

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

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

The 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 to 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.

Results and dividends

The profit for the year, after taxation, amounted to £291,672 (2024 - loss £54,171).

No dividends were paid in the period (2024: £Nil).

Directors

The directors who served during the year were:

B Birdsall

K Chambers

P Birdsall

L Culliton

M Clarke

D R Upton (appointed 18 April 2024)

Page 2

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

The auditor, Hillier Hopkins LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

P Birdsall

Director

Date: 28 November 2025

Page 3

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

Opinion

We have audited the financial statements of Birdsall Networks Limited (Formally Birdsall Services Ltd) (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, 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 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 United Kingdom, including the Financial Reporting Council'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.

Page 4

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD) (CONTINUED)

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 on the work undertaken in the course of the audit:

∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters 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 set out on page 2, 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.

Page 5

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD) (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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.

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:

∙assess the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management;

∙the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management, about their own identification and assessment of the risks of irregularities;

∙any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to:

°identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

°detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

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

∙the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, and relevant tax legislation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditor's Report.

Page 6

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD) (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's 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.

Gary Wong BFP FCA (Senior Statutory Auditor)

for and on behalf of

Hillier Hopkins LLP

Chartered Accountants

Statutory Auditor

Radius House

51 Clarendon Road

Watford

Herts

WD17 1HP

28 November 2025

Page 7

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
Note	£	£


Turnover	4	13,922,415	15,019,139
Cost of sales		(10,560,389)	(11,755,227)
Gross profit		3,362,026	3,263,912
Distribution costs		(182,466)	(154,111)
Administrative expenses		(2,807,012)	(3,018,612)
Operating profit	5	372,548	91,189
Interest receivable and similar income	9	5,727	2,000
Interest payable and similar expenses	10	(57,973)	(88,503)
Profit before tax		320,302	4,686
Tax on profit	11	(28,630)	(58,857)
Profit/(loss) for the financial year		291,672	(54,171)

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 12 to 25 form part of these financial statements.

Page 8

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

REGISTERED NUMBER: 01210655

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	12		567,374		481,722
			567,374		481,722
Current assets
Stocks	13	184,148		308,617
Debtors: amounts falling due within one year	14	2,741,975		2,704,836
Cash at bank and in hand	15	849,454		538,743
		3,775,577		3,552,196
Creditors: amounts falling due within one year	16	(2,001,371)		(2,082,738)
Net current assets			1,774,206		1,469,458
Total assets less current liabilities			2,341,580		1,951,180
Creditors: amounts falling due after more than one year	17		(322,212)		(224,950)
Provisions for liabilities
Deferred tax	19	(133,978)		(112,319)
Other provisions	20	(21,589)		(41,782)
			(155,567)		(154,101)
Net assets			1,863,801		1,572,129

Capital and reserves
Called up share capital	21	10,054	10,054
Profit and loss account	22	1,853,747	1,562,075
		1,863,801	1,572,129

Page 9

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

REGISTERED NUMBER: 01210655

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P Birdsall

Director

Date: 28 November 2025

The notes on pages 12 to 25 form part of these financial statements.

Page 10

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2023	10,054	1,616,246	1,626,300
Comprehensive income for the year
Loss for the year	-	(54,171)	(54,171)
Total transactions with owners	-	-	-

At 1 April 2024	10,054	1,562,075	1,572,129
Comprehensive income for the year
Profit for the year	-	291,672	291,672
Total transactions with owners	-	-	-
At 31 March 2025	10,054	1,853,747	1,863,801

The notes on pages 12 to 25 form part of these financial statements.

Page 11

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Birdsall Networks Limited (Formally Birdsall Services Ltd) is a private company, limited by shares, incorporated in England & Wales, registered number 01210655.

The registered office is 13 Avebury Court, Mark Road, Hemel Hempstead, HP2 7TA.

The principal activity of the entity is that the entity is a building services engineering company incorporating four business units that deliver a complete range of specialist services: Building Services, HVAC Services, Energy Services and Project Services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

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

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Birdsall Group Limited as at 31 March 2025 and these financial statements may be obtained from Companies House online where the results are publicly available.

Page 12

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 13

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 14

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives as below.

Depreciation is provided on the following basis:

Plant and machinery	-	25%	Straight-line
Motor vehicles	-	25%	Straight-line
Fixtures and fittings	-	25%	Straight-line

2.11

Stocks

Stock includes work in progress valued at the lower of cost and net realisable value and stock of goods held for sale. Work in progress costs include all direct costs and an appropriate proportion of overhead costs, and finance charges that are released on an activity basis as contracts progress.

At each balance sheet date, stock and work in progress are assessed for impairment on a job by job or item by item basis and if necessary any impairment is recognised immediately in profit or loss.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.14

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.

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 15

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 16

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Judgments in applying accounting policies 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.

Work in progress
The directors exercise judgement in allocating costs attributable to stock and work in progress. The recoverability of work in progress is a key area of judgement. The directors perform interim job appraisals over the period of the contract to validate the recoverability of each contract and stage of recognition.

Energy Services	6,642,090	6,221,286
Building Services	3,134,167	3,519,303
HVAC AC	2,324,436	2,400,013
Projects	1,821,722	2,878,537
	13,922,415	15,019,139

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	13,922,415	15,019,139
	13,922,415	15,019,139

Other operating lease rentals

(140,744)

(34,222)

Page 17

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Fees payable to the Company's auditor for the audit of the Company's financial statements

18,500

17,050

Wages and salaries	5,761,026	5,682,971
Social security costs	57,264	49,942
Cost of defined contribution scheme	43,110	42,682
	5,861,400	5,775,595

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Employees	104	101

8.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	490,293	430,664
Company contributions to defined contribution pension schemes	43,110	42,682
	533,403	473,346

	During the year retirement benefits were accruing to 6 directors (2024 - 5) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £103,154 (2024 - £109,197).
	The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £8,069 (2024 - £14,499).

Page 18

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	5,727	2,000
		5,727	2,000

10.	Interest payable and similar expenses
		2025	2024
		£	£

	Bank interest payable	57,973	88,503
		57,973	88,503

Corporation tax
Current tax on profits for the year	40,721	-
Adjustments in respect of previous periods	(33,750)	33,750
	6,971	33,750

Total current tax	6,971	33,750

Deferred tax
Origination and reversal of timing differences	21,659	25,107
Total deferred tax	21,659	25,107


	Tax on profit	28,630	58,857

Page 19

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.Taxation (continued)

Profit on ordinary activities before tax

320,302

4,686

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	80,076	1,172
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	1,725	24,050
Utilisation of tax losses	(22,520)	-
Adjustments to tax charge in respect of prior periods	(33,750)	33,750
Other timing differences leading to an increase (decrease) in taxation	-	(799)
Changes in provisions leading to an increase (decrease) in the tax charge	3,174	684
Group relief	(75)	-
Total tax charge for the year	28,630	58,857

Factors that may affect future tax charges

There are no factors affecting the future tax charge.

Page 20

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	493,104	623,965	459,939	1,577,008
Additions	44,733	243,180	31,907	319,820
Disposals	(3,452)	(99,812)	-	(103,264)
At 31 March 2025	534,385	767,333	491,846	1,793,564
Depreciation
At 1 April 2024	355,070	293,520	446,696	1,095,286
Charge for the year	77,249	139,313	16,206	232,768
Disposals	(2,052)	(99,812)	-	(101,864)
At 31 March 2025	430,267	333,021	462,902	1,226,190
Net book value
At 31 March 2025	104,118	434,312	28,944	567,374
At 31 March 2024	138,034	330,445	13,243	481,722

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Motor vehicles	413,884	281,562
	413,884	281,562

Page 21

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

13.	Stocks
		2025	2024
		£	£

Goods to be sold	25,397	32,583
Work in progress	158,751	276,034
	184,148	308,617

14.

Debtors

					2025	2024
					£	£


Trade debtors	2,005,949	1,910,304
Amounts owed by group undertakings	392	-
Other debtors	163,859	162,759
Prepayments and accrued income	571,775	631,773
	2,741,975	2,704,836

15.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	849,454	538,743
	849,454	538,743

Page 22

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

16.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	792,360	971,458
Corporation tax	41,396	-
Other taxation and social security	645,874	549,928
Obligations under finance lease and hire purchase contracts	129,054	86,186
Other creditors	50,489	54,037
Accruals and deferred income	342,198	421,129
	2,001,371	2,082,738

The company has created a debenture in respect of Lloyds TSB Commercial Finance Limited securing all monies due or to become due as fixed and floating charges over all assets.

The company has created a second charge in respect of Mr B Birdsall and Mr P Birdsall on all the assets of the company after satisfying the first charge.

17.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	319,212	221,950
Amounts owed to group undertakings	3,000	3,000
	322,212	224,950

Within one year	129,054	86,186
Between 1-5 years	319,212	221,950
	448,266	308,136

Hire purchase liabilities are secured over the assets to which they relate.

Page 23

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

19.	Deferred taxation

		2025
		£

	At beginning of year	(112,319)
	Charged to profit or loss	(21,659)
	At end of year	(133,978)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(133,978)	(112,319)
		(133,978)	(112,319)

20.	Provisions

		Warranty Provision
		£

	At 1 April 2024	41,782
	Charged to profit or loss	(20,193)
	At 31 March 2025	21,589

21.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

10,054 (2024 - 10,054) Ordinary shares of £1.00 each	10,054	10,054

Page 24

BIRDSALL NETWORKS LIMITED (FORMALLY BIRDSALL SERVICES LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22.

Reserves

Profit and loss account

The profit and loss reserve represents the cumulative profit or loss, net of dividends paid and other adjustments.

23.	Pension commitments

The company operates a defined contributions pension scheme, the assets of which are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £387,778 (2024 - £380,642) in the year.

Not later than 1 year	146,363	38,224
Later than 1 year and not later than 5 years	107,586	25,473
	253,949	63,697

25.

Related party transactions

The directors have taken advantage of the exemption in FRS 102 section 33.1A from disclosing transactions between two or more wholly owned members of a group.

Birdsall Services Ltd is a wholly owned subsidiary of Birdsall Group Ltd and the consolidated financial statements are available from Companies House.

The company has entered into transactions with a director during the year. A loan with an amount of £104,667 (2024: £102,667) was due at the year end. Interest has been charged at 2%.

26.	Controlling party

The ultimate controlling party of the Group is the director, P Birdsall.

Page 25