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REGISTERED NUMBER: 15224566 (England and Wales)

| GROUP STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| UNAUDITED |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30TH APRIL 2025 |

| FOR |

| MOUNTJOY HOLDINGS LIMITED |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 5 |

Consolidated Income Statement | 8 |

Consolidated Other Comprehensive Income | 9 |

Consolidated Balance Sheet | 10 |

Company Balance Sheet | 12 |

Consolidated Statement of Changes in Equity | 14 |

Company Statement of Changes in Equity | 15 |

Consolidated Cash Flow Statement | 16 |

Notes to the Consolidated Cash Flow Statement | 17 |

Notes to the Consolidated Financial Statements | 19 |

MOUNTJOY HOLDINGS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30TH APRIL 2025

| DIRECTORS: | D J Carlin

| S J Ingram

| D O'Rourke

| SECRETARY: | Ms R O'Rourke

| REGISTERED OFFICE: | Fairfield House,

| 47-51 Kingston Crescent

| Portsmouth

| Hampshire

| PO2 8AA

| REGISTERED NUMBER: | 15224566 (England and Wales)

| ACCOUNTANTS: | Shaw Gibbs Audit Limited

| 25 St Thomas Street

| Winchester

| Hampshire

| SO23 9HJ

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30TH APRIL 2025

The directors present their strategic report of the company and the group for the year ended 30th April 2025.

REVIEW OF BUSINESS

Mountjoy Group has delivered another year of strong operational and financial performance, underpinned by our long-term strategic relationships with clients and a deep-rooted commitment to the communities we serve. Our ethos - "enhancing people's lives in our communities" - remains the cornerstone of our strategy and day-to-day operations. This purpose-driven approach continues to guide the development of our services and shape how we engage with clients, partners, and community stakeholders.

Strategic Priorities

Our strategy remains focused on:

-Strengthening long-term partnerships with clients

- Delivering high-quality Facilities Management and Construction services in our core markets: Living, Learning, and Caring

- Investing in our people and community impact

- Maintaining robust financial performance and operational efficiency

Community Engagement and Social Impact

As part of our commitment to enhancing peoples lives within the communities we operate, we have continued to work in close collaboration with local charities and community organisations. These partnerships enable us to contribute positively beyond the immediate delivery of services, supporting programmes and initiatives that drive social value and inclusion. Some of the projects we have delivered in the year include:

- Apprenticeship Bus - We have led the project working with Shaping Portsmouth and Portsmouth City Council to visit 10 schools and over 1,000 year 11 students showcasing the variety of apprenticeships available to young people, the bus had apprentices from different organisations and industries.

- Motiv8 - Our charity partner for Portsmouth for whom we raised over £10,000 across the year and refurbished their new offices in Fratton at no charge supporting them delivering for the young people in our communities.

- Trustees - Our directors also support local charities as trustees with 3 trusteeships held supporting the strategic director and decision making and provide guidance and support to each charity.

- SEND - We are involved with a number of initiatives with different organisations providing opportunities for SEND individuals including mentoring a school for the regional product design competition, employing someone for the year on an internship as a decorator, providing work experience to someone looking to return to work and being part of the SEND working group as on of only 3 employers working with Portsmouth City Council in developing a strategy around increasing employability in the SEND community.

- Careers fairs and school events - active participants in careers fairs and school events including mock interviews, CV writing, breakfast industry discussions and networking sessions.

A key component of our social impact strategy is creating meaningful pathways into our industry. Over the past year, we have:

- Supported 15 apprenticeships, offering individuals structured development and nationally recognised qualifications.

- Introduced 15 traineeships in areas where apprenticeships are not available or are not accessible, providing tailored skills development, mentoring, and work experience to promote long-term employability.

These initiatives demonstrate our commitment to growing a diverse and skilled workforce, supporting the industry pipeline, and making a tangible difference in people's lives.

Recognition and Awards

We are proud to have been recognised for our dedication to people development and social value. Notably, we were awarded Large Employer of the Year at the Apprenticeship Awards, a testament to the impact of our investment in early careers and workforce development. In addition we received the award from Large Business of the year at the Portsmouth Business Awards.

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30TH APRIL 2025

Operational Highlights

We continue to deliver a Facilities Management and Construction projects across our core markets:

- Living - delivering essential housing and residential infrastructure

- Learning - enhancing educational environments through new builds, refurbishments, and facilities management

- Caring - providing high-quality, functional spaces for healthcare and social care settings

These markets remain central to our business model and align closely with our purpose-driven approach.

Financial Performance

Our key financial indicators remain strong:

- Revenue: £46m (196% increase)

- Operating Profit: £624k (Up from £567k in 2024 - after adjusting for non trading actuarial movements in Pension scheme)

- Free Cash Flow: £2.99m (Up from 2.63m in 2024)

This performance reflects disciplined operational management, the strength of our client relationships, and continued demand in our core sectors. We maintain a prudent approach to cash management and investment, ensuring sustainability and resilience in our growth strategy.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors have identified the following principal risks and uncertainties which the group faces, and how these are being managed. Our approach is:

Principal Risks/Uncertainties |  | Statement of Company Position |

Market Conditions:Both the group's construction and facilities managem ent divisions are affected by the general macro cond itions |  | The group's core markets are less affected by economic cycles. However, national fiscal uncertainty and changes including the NI increases from April 2025 present challenges for management to navigate in collaboration with clients. |

Health & Safety The group operates in the construction and building mar kets which mean that staff and subcontractors a re carrying out high risk activities |  | The group has a comprehensive H&S management system which is accredited to the International Standard ISO45001. The group's SHEQ Steering Group hasoversight of Safety, which meets bi-monthly and is chaired by the Managing Director. |

Staff Retention The business is reliant on the attraction and retention o f skilled and motivated staff to deliver our services |  | Attraction and retention of staff remains a key focus for the business. Our Employee survey in 2025 showed continuing positive trends and as a result we will be implementing additional benefits to staff around health and wellbeing. |

Cash Flow The business is required to manage its cash flow to a n optimum level to ensure it can meets its obligatio ns |  | The business has worked hard to optimise its cash position which finished the year at £2.9m, this was a13% improvement on the prior year. |

Subcontractors The group relies on specialist subcontractors to deliver in its behalf. Risks include both safety and fin ancial loss |  | The group uses and industry leading online subcontractor approval system to assess financial standing, performance and accreditation |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30TH APRIL 2025

SECTION 172(1) STATEMENT

The Group recognises the importance of delivering effective corporate governance in supporting the long-term success and sustainability of its business. The members of the Board bring a wide range of experience when making decisions.

Mountjoy Board meets at least 10 times a year, and more frequently when deemed appropriate. These meetings are supplemented by regular Maintenance, Finance and Operational review meetings, Construction CVR and Operational meetings and Health and Safety meetings providing timely and detailed information in support of the Board's decision making.

When making decisions, each Director ensures that he/she acts in the way he/she considers in good faith, would most likely promote the Group's success, and in doing so having regard (amongst other matters) to the following:

- The likely consequences of any decision in the long term. The Directors understand the business of Mountjoy and the environment in which it operates allowing informed decision making and challenge to be undertaken in line with Group strategy.

- The interest of the employees. The Directors recognise the employees throughout the business are fundamental and core to the Group strategy and values. The Directors consider that creating and maintaining safe working environments and practices as a prime objective. Mountjoy is committed to embracing diversity as well as fostering and actively encouraging a culture of respect and inclusion.

- The need to foster business relationships with suppliers, customers and others. Delivering the strategy requires working in partnership across both public and private sector suppliers and customers and each entity promotes respectful and supportive working practices with all stakeholders.

- The impact of operations on the community and environment. The group has extensive interaction with educational establishments, local authorities and local communities around its operating sites. A proactive and open dialogue is encouraged at all times with these communities as well as the regulatory authorities.

- The desirability of maintaining a reputation for high standards of business conduct. The Directors periodically review and approve governance standards, business procedures and policies to ensure that high standards are maintained both within the Mountjoy business and the business relationships it maintains. This, complemented by the way the Board is informed and monitors compliance, assures the Group always acts in a manner that promotes high standards of business conduct.

- The need to act fairly between members of the Group. The Directors fully support the values of Equality, Diversity, and Inclusion and across the business there is ongoing support to employee led networks. This year has seen further focus on employee mental health and wellbeing with several initiatives developed across the business.

FUTURE DEVELOPMENT

Looking ahead, we will continue to build on our foundations of strong client relationships, operational excellence, and social impact. With a clear focus on quality delivery and community benefit, we are well positioned to grow sustainably while staying true to our purpose: enhancing people's lives in our communities.

ON BEHALF OF THE BOARD:

D J Carlin - Director

27th November 2025

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30TH APRIL 2025

The directors present their report with the financial statements of the company and the group for the year ended 30th April 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of facilities maintenance and building services.

DIVIDENDS

Ordinary dividends were paid amounting to £nil. The directors do not recommend payment of a final dividend.

DIRECTORS

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

D J Carlin

S J Ingram

D O'Rourke

DISABLED PERSONS

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

ENGAGEMENT WITH EMPLOYEES

The group's policy is to consult and discuss with employees, staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletin and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

To maintain future growth the nature of our relationships with our clients, customers and suppliers is crucial. Each board member plays a significant role in this approach through extending long term relationships with clients, customers and suppliers with regular meetings and open dialogue. This approach through fostering a partnership working relationship with these people and organisations ensures the future prosperity of the group.

STREAMLINED ENERGY AND CARBON REPORTING

This report has been prepared in compliance with the Streamlined Energy and Carbon (SECR) Reporting requirements as outlined in the Companies Act (2006) for large quoted and unlisted companies. As such, Mountjoy Limited is required to disclose its Greenhouse Gas (GHG) emissions.

The report provides details on Mountjoy Limited's annual GHG emissions and total energy consumption, covering our offices and transport assets. It also outlines the energy efficiency and environmental management actions implemented during the financial year. This report includes our SECR disclosure for the 2024/2025 financial year.

Energy Consumption

The table below presents our yearly energy usage, including electricity, natural gas, and fuel consumption from our fleet and employee vehicles. In compliance with SECR reporting requirements, this data is provided in kilowatt hours (kWh)

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30TH APRIL 2025

| 2025 |  |  | 2024 |

Energy Consumption |  | kWh |  |  | kWh |

Aggregate of energy consumption in the year |  |

-Gas combustion |  | 0 |  |  | 0 |

-Electricity Purchased |  | 100,607 |  |  | 99,928 |

-Transport fuel |  | 1,983,735 |  |  | 2,315,647 |

| 2,084,342 |  |  | 2,415,575 |

| 2025 |  |  | 2024 |  |

Emissions of CO2 equivalent |  | metric tones |  |  | metric tones |  |

Scope 1 - direct emissions |  |

-Gas combustion |  | 0 |  |  | 0 |  |

-Fuel consumed for owned transport |  | 471 |  |  | 550 |  |

| 471 |  |  | 550 |  |

Scope 2 - indirect emissions |  |

-Electricity purchased |  | 21 |  |  | 21 |  |

| 492 |  |  | 571 |  |

Intensity ratio |  |

Tonnes CO2e per £1 million turnover |  | 10.75 |  |  | 12.69 |  |

Quantification and reporting methodology

The company has followed the 2019 HM Government Environmental Reporting Guidelines. The group has also used the GHG Reporting Protocol- Corporate Standard and have used the 2022 UK Government's Conversion Factors for Company Reporting

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per flm of turnover, the recommended ratio for the sector.

Measures taken to improve energy efficiency

The company continues to minimize energy consumption by installing low-energy/LED lighting and educating staff on reducing usage. They've also adopted hybrid office working models and implemented energy-efficient cleaning practices using modern equipment.

Traditional IT servers have been replaced with virtual machines where feasible, with a shift towards hosting these off-site in cloud environments.

When selecting fleet replacements, the company considers carbon emissions, opting for electric or hybrid vehicles where practical. Each business unit within the company maintains its own fleet policy, reviewed annually to incorporate technological advancements and further reduce emissions wherever possible

ON BEHALF OF THE BOARD:

D J Carlin - Director

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30TH APRIL 2025

27th November 2025

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 30TH APRIL 2025

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

| Notes | £ | £ |

TURNOVER | 3 | 45,727,777 |  | 15,451,976 |  |

Cost of sales | 36,253,984 |  | 11,655,033 |  |

GROSS PROFIT | 9,473,793 |  | 3,796,943 |  |

Administrative expenses | 8,853,577 |  | 3,471,882 |  |

OPERATING PROFIT | 6 | 620,216 |  | 325,061 |  |

Other finance income | 22 | 14,000 |  | 6,000 |  |

634,216 |  | 331,061 |  |

Interest payable and similar expenses | 7 | 150,637 |  | 65,196 |  |

PROFIT BEFORE TAXATION | 483,579 |  | 265,865 |  |

Tax on profit | 8 | 150,810 |  | 17,438 |  |

PROFIT FOR THE FINANCIAL YEAR | 332,769 |  | 248,427 |  |

Profit attributable to:

Owners of the parent | 332,769 |  | 248,427 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

CONSOLIDATED OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30TH APRIL 2025

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 332,769 |  | 248,427 |  |

OTHER COMPREHENSIVE INCOME |

Actuarial gains on defined benefit plans | 16,000 |  | 26,000 |  |

Income tax relating to other comprehensive income | 2,500 |  | (6,500 | ) |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 18,500 |  | 19,500 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 351,269 |  | 267,927 |  |

Total comprehensive income attributable to:

Owners of the parent | 351,269 |  | 267,927 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

CONSOLIDATED BALANCE SHEET

30TH APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 2,713,118 |  | 2,810,015 |  |

Tangible assets | 11 | 361,673 |  | 428,788 |  |

Investments | 12 | - |  | - |  |

3,074,791 |  | 3,238,803 |  |

CURRENT ASSETS

Stocks | 13 | 32,494 |  | 31,620 |  |

Debtors | 14 | 3,438,688 |  | 4,046,458 |  |

Cash at bank and in hand | 2,986,957 |  | 2,633,355 |  |

6,458,139 |  | 6,711,433 |  |

CREDITORS

Amounts falling due within one year | 15 | 7,865,109 |  | 7,207,399 |  |

NET CURRENT LIABILITIES | (1,406,970 | ) | (495,966 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,667,821 |  | 2,742,837 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (1,248,653 | ) | (2,621,724 | ) |

PROVISIONS FOR LIABILITIES | 19 | (27,212 | ) | (57,926 | ) |

PENSION ASSET | 22 | 227,250 |  | 204,750 |  |

NET ASSETS | 619,206 |  | 267,937 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

CONSOLIDATED BALANCE SHEET - continued

30TH APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 20 | 10 |  | 10 |  |

Retained earnings | 21 | 619,196 |  | 267,927 |  |

SHAREHOLDERS' FUNDS | 619,206 |  | 267,937 |  |

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30th April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2025 and were signed on its behalf by:

D J Carlin - Director

S J Ingram - Director

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

COMPANY BALANCE SHEET

30TH APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | - |  | - |  |

Investments | 12 | 5,160,576 |  | 5,160,576 |  |

5,160,576 |  | 5,160,576 |  |

CURRENT ASSETS

Debtors | 14 | - |  | 10 |  |

Cash at bank | 85 |  | 252 |  |

85 |  | 262 |  |

CREDITORS

Amounts falling due within one year | 15 | 597,716 |  | 516,811 |  |

NET CURRENT LIABILITIES | (597,631 | ) | (516,549 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,562,945 |  | 4,644,027 |  |

CREDITORS

Amounts falling due after more than one year | 16 | 4,782,723 |  | 4,712,496 |  |

NET LIABILITIES | (219,778 | ) | (68,469 | ) |

CAPITAL AND RESERVES

Called up share capital | 20 | 10 |  | 10 |  |

Retained earnings | 21 | (219,788 | ) | (68,479 | ) |

SHAREHOLDERS' FUNDS | (219,778 | ) | (68,469 | ) |

Company's loss for the financial year | (151,309 | ) | (68,479 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

COMPANY BALANCE SHEET - continued

30TH APRIL 2025

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

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2025 and were signed on its behalf by:

D J Carlin - Director

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30TH APRIL 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 10 |  | - |  | 10 |  |

Total comprehensive income | - |  | 267,927 |  | 267,927 |  |

Balance at 30th April 2024 | 10 |  | 267,927 |  | 267,937 |  |

Changes in equity

Total comprehensive income | - |  | 351,269 |  | 351,269 |  |

Balance at 30th April 2025 | 10 |  | 619,196 |  | 619,206 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30TH APRIL 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 10 |  | - |  | 10 |  |

Total comprehensive income | - |  | (68,479 | ) | (68,479 | ) |

Balance at 30th April 2024 | 10 |  | (68,479 | ) | (68,469 | ) |

Changes in equity

Total comprehensive income | - |  | (151,309 | ) | (151,309 | ) |

Balance at 30th April 2025 | 10 |  | (219,788 | ) | (219,778 | ) |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30TH APRIL 2025

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 606,204 |  | 6,775,691 |  |

Interest paid | (148,574 | ) | (63,700 | ) |

Interest element of hire purchase payments paid | (2,063 | ) | (1,496 | ) |

Tax paid | (16,625 | ) | (58,357 | ) |

Net cash from operating activities | 438,942 |  | 6,652,138 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (105,412 | ) | (86,192 | ) |

Acquisition of subsidiary | - |  | (4,163,974 | ) |

Interest received | 14,000 |  | 6,000 |  |

Net cash from investing activities | (91,412 | ) | (4,244,166 | ) |

Cash flows from financing activities

Capital repayments in year | (3,822 | ) | (8,134 | ) |

Amount introduced by directors | 9,894 |  | 233,507 |  |

Share issue | - |  | 10 |  |

Net cash from financing activities | 6,072 |  | 225,383 |  |

Increase in cash and cash equivalents | 353,602 |  | 2,633,355 |  |

Cash and cash equivalents at beginning of year | 2 | 2,633,355 |  | - |  |

Cash and cash equivalents at end of year | 2 | 2,986,957 |  | 2,633,355 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30TH APRIL 2025

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

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Profit before taxation | 483,579 |  | 265,865 |  |

| Depreciation charges | 269,105 |  | 165,048 |  |

| Loss on disposal of fixed assets | 319 |  | - |  |

| Defined benefit asset | (30,000 | ) | (273,000 | ) |

| Actuarial gains | 16,000 |  | 26,000 |  |

| Finance costs | 150,637 |  | 65,196 |  |

| Finance income | (14,000 | ) | (6,000 | ) |

875,640 |  | 243,109 |  |

| (Increase)/decrease in stocks | (874 | ) | 266 |  |

| Decrease in trade and other debtors | 607,770 |  | 2,170,691 |  |

| (Decrease)/increase in trade and other creditors | (876,332 | ) | 4,361,625 |  |

| Cash generated from operations | 606,204 |  | 6,775,691 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 30th April 2025

| 30.4.25 |  | 1.5.24

£ | £ |

| Cash and cash equivalents | 2,986,957 |  | 2,633,355 |  |

| Period ended 30th April 2024

| 30.4.24 |  | 20.10.23

£ | £ |

| Cash and cash equivalents | 2,633,355 |  | - |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30TH APRIL 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.5.24 | Cash flow | At 30.4.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 2,633,355 |  | 353,602 |  | 2,986,957 |  |

2,633,355 |  | 353,602 |  | 2,986,957 |  |

| Debt

| Finance leases | (19,126 | ) | 3,822 |  | (15,304 | ) |

(19,126 | ) | 3,822 |  | (15,304 | ) |

| Total | 2,614,229 |  | 357,424 |  | 2,971,653 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2025

1. | STATUTORY INFORMATION

| Mountjoy Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Basis of consolidation

| The consolidated financial statements incorporate the results of Mountjoy Holdings Limited and all its subsidiary undertaking as at 30th April 2025 using the acquisition method of accounting. The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own Profit and Loss Account in these financial statements.

| Mountjoy Limited was acquired on the 14th December 2023 and therefore includes the results of this company from the date acquired.

| Related party exemption

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

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Critical accounting judgements and key sources of estimation uncertainty

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

| The 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 affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| The estimates and assumptions which have a significant risk of causing material adjustment to the carrying amount of assets and liabilities are as follows:

| Construction contracts

| Amounts recoverable on construction contracts involves estimation.

| Management base the valuation of work in progress and accruals on estimates of costs, assessing staffing requirements and margins on each job. The stage of completion is determined by an independent Quantity Surveyor which mitigates against the risk of estimation uncertainty.

| The value of amounts recoverable on construction contracts at the year end is £353,306 (2024: £1,045,390) and the related accrual is £784,085 (2024: £1,287,091).

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates.

| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by surveys of work performed, where the revenue per the valuation is compared with the total expected revenue. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

| Goodwill

| Goodwill is the amount arising on consolidation and is amortised over its useful life of 10 years. As the group is unable to reliably estimate the useful life of goodwill, in accordance with FRS 102 Section 19.23 amortisation is to not exceed 10 years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

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

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

| Leasehold land and buildings |  | 15% - 33% straight line |

| Plant and machinery |  | 20% - 33% straight line |

| Fixtures and fittings |  | 20% - 33% straight line |

| Computers |  | 20% - 33% straight line |

| Motor vehicles |  | 16% - 33% straight line |

| There are some cases where the assets have been depreciated not in line with the above rates, as they have been depreciated in accordance with the contract that the asset relates to.

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is credited or charged to profit or loss.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

| Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

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

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

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

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

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

| The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method and is based on actuarial advice.

| The change in the net defined liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

| The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in the profit or loss as other finance revenue or cost.

| Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit ans loss in subsequent periods.

| The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

| Employee benefits

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

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

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

| Going concern

| The group reported turnover for the period of £45.7m (2024: £15.5m) and Net Assets of £0.6m (2024: £0.3m).

| In considering the appropriateness for adopting the going concern basis for preparing the financial information, the Directors notes that the Company operates in markets where spend is largely non-discretionary and that contracts tend to be long term partnerships. More than 92.3% of the turnover forecast for 2025-6 is from clients where the business has had a partnership of more than 3 years. The Board believes that the company has sufficient resources to remain operational over the next financial year. To support this judgment, they conducted stress tests on the business plan using various downside scenarios. After evaluating these potential challenges, the Board concluded that it is highly unlikely for any combination of these scenarios to threaten the company's status as a going concern.

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

3. | TURNOVER

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

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

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Maintenance | 34,145,520 |  | 11,791,280 |  |

| Construction contracts | 11,582,257 |  | 3,660,696 |  |

45,727,777 |  | 15,451,976 |  |

4. | EMPLOYEES AND DIRECTORS

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Wages and salaries | 11,643,489 |  | 4,718,216 |  |

| Social security costs | 1,136,546 |  | 533,211 |  |

| Other pension costs | 502,224 |  | 114,784 |  |

13,282,259 |  | 5,366,211 |  |

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

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

| Facilities and maintenance | 187 |  | 188 |  |

| Administration | 146 |  | 145 |  |

333 |  | 333 |  |

| The average number of employees by undertakings that were proportionately consolidated during the year was 333 (2024 - 333 ) .

5. | DIRECTORS' EMOLUMENTS

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Directors' remuneration | 257,912 |  | 198,083 |  |

| Directors' pension contributions to money purchase schemes | 183,957 |  | 52,600 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

5. | DIRECTORS' EMOLUMENTS - continued

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 3 |  | 3 |  |

| Information regarding the highest paid director for the year ended 30th April 2025 is as follows:

| Year Ended |

| 30.4.25 |

£ |  |

| Emoluments etc | 89,923 |  |

| Pension contributions to money purchase schemes | 63,504 |  |

| As at 30th April 2025 there were accrued pension contributions in respect of directors totalling £72,855 (2024: £2,894).

6. | OPERATING PROFIT

| The operating profit is stated after charging:

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Hire of plant and machinery | 1,031,350 |  | 249,671 |  |

| Other operating leases | 167,486 |  | 145,396 |  |

| Depreciation - owned assets | 166,755 |  | 159,045 |  |

| Depreciation - assets on hire purchase contracts | 5,452 |  | 2,272 |  |

| Loss on disposal of fixed assets | 319 |  | - |  |

| Goodwill amortisation | 96,897 |  | 96,897 |  |

| Auditors' remuneration | 19,961 |  | 23,650 |  |

| Fees paid to the auditors for audit services totalled £19,750 (2024: £15,730). In addition to this a fee of £1,100 (2024: £7,410) has been paid to the auditors for non-audit services.

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Bank interest | 2,805 |  | 388 |  |

| Other loan interest | 122,375 |  | 54,805 |  |

| Directors loan interest | 23,394 |  | 8,507 |  |

| Hire purchase | 2,063 |  | 1,496 |  |

150,637 |  | 65,196 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

8. | TAXATION

| Analysis of the tax charge

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

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Current tax:

| UK corporation tax | 182,966 |  | (63,652 | ) |

| Research and development | (11,442 | ) | (6,386 | ) |

| Total current tax | 171,524 |  | (70,038 | ) |

| Deferred tax | (20,714 | ) | 87,476 |  |

| Tax on profit | 150,810 |  | 17,438 |  |

| Reconciliation of total tax charge included in profit and loss

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

| Period

| 20.10.23

| Year Ended |  | to

| 30.4.25 |  | 30.4.24

£ | £ |

| Profit before tax | 483,579 |  | 265,865 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 120,895 |  | 66,466 |  |

| Effects of:

| Expenses not deductible for tax purposes | 27,532 |  | (8,736 | ) |

| Depreciation in excess of capital allowances | 34,539 |  | 18,778 |  |

| Movement on deferred tax | (20,714 | ) | 87,476 |  |

| Losses | - |  | 4,879 |  |

| Gain on actuarial settlements | - |  | (60,250 | ) |

| Group relief | - |  | (84,789 | ) |

| Research and Development | (11,442 | ) | (6,386 | ) |

| Total tax charge | 150,810 |  | 17,438 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Actuarial gains on defined benefit plans | 16,000 |  | 2,500 |  | 18,500 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

8. | TAXATION - continued

| 20.10.23 to 30.4.24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Actuarial gains on defined benefit plans | 26,000 |  | (6,500 | ) | 19,500 |  |

9. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

10. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1st May 2024

| and 30th April 2025 | 2,906,912 |  |

| AMORTISATION

| At 1st May 2024 | 96,897 |  |

| Amortisation for year | 96,897 |  |

| At 30th April 2025 | 193,794 |  |

| NET BOOK VALUE

| At 30th April 2025 | 2,713,118 |  |

| At 30th April 2024 | 2,810,015 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

11. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Long |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1st May 2024 | 336,002 |  | 19,996 |  | 63,709 |  |

| Additions | - |  | 653 |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 30th April 2025 | 336,002 |  | 20,649 |  | 63,709 |  |

| DEPRECIATION

| At 1st May 2024 | 255,779 |  | 14,864 |  | 56,461 |  |

| Charge for year | 8,914 |  | 2,292 |  | 3,782 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 30th April 2025 | 264,693 |  | 17,156 |  | 60,243 |  |

| NET BOOK VALUE

| At 30th April 2025 | 71,309 |  | 3,493 |  | 3,466 |  |

| At 30th April 2024 | 80,223 |  | 5,132 |  | 7,248 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1st May 2024 | 438,663 |  | 1,711,802 |  | 2,570,172 |  |

| Additions | - |  | 104,759 |  | 105,412 |  |

| Disposals | - |  | (950 | ) | (950 | ) |

| At 30th April 2025 | 438,663 |  | 1,815,611 |  | 2,674,634 |  |

| DEPRECIATION

| At 1st May 2024 | 385,506 |  | 1,428,774 |  | 2,141,384 |  |

| Charge for year | 18,197 |  | 139,022 |  | 172,207 |  |

| Eliminated on disposal | - |  | (630 | ) | (630 | ) |

| At 30th April 2025 | 403,703 |  | 1,567,166 |  | 2,312,961 |  |

| NET BOOK VALUE

| At 30th April 2025 | 34,960 |  | 248,445 |  | 361,673 |  |

| At 30th April 2024 | 53,157 |  | 283,028 |  | 428,788 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

11. | TANGIBLE FIXED ASSETS - continued

| Group

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| At 1st May 2024

| and 30th April 2025 | 27,260 |  |

| DEPRECIATION

| At 1st May 2024 | 2,272 |  |

| Charge for year | 5,452 |  |

| At 30th April 2025 | 7,724 |  |

| NET BOOK VALUE

| At 30th April 2025 | 19,536 |  |

| At 30th April 2024 | 24,988 |  |

12. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1st May 2024

| and 30th April 2025 | 5,160,576 |  |

| NET BOOK VALUE

| At 30th April 2025 | 5,160,576 |  |

| At 30th April 2024 | 5,160,576 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

12. | FIXED ASSET INVESTMENTS - continued

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiary

| Mountjoy Limited

| Registered office: Fairfield House, 47-51 Kingston Crescent, Portsmouth, Hampshire, PO2 8AA

| Nature of business: facilities maintenance and building services

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 3,286,442 |  | 2,686,967 |  |

| Profit for the year/period | 580,975 |  | 780,546 |  |

| On the 14th December 2023, Mountjoy Holdings Limited acquired 100% of the share capital of Mountjoy Limited for a total cash consideration of £5,134,900.

| £3,145,000 of the cash consideration is deferred and repayable in installments with the final amount due to be paid by 31st October 2028, this balance is subject to interest.

13. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Valuation | 32,494 |  | 31,620 |  |

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 1,620,428 |  | 1,827,422 |  | - |  | - |  |

| Amounts recoverable on contract | 1,797,930 |  | 2,189,487 |  | - |  | - |  |

| Other debtors | 2,573 |  | 1,167 |  | - |  | 10 |  |

| Prepayments and accrued income | 17,757 |  | 28,382 |  | - |  | - |  |

3,438,688 |  | 4,046,458 |  | - |  | 10 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts (see note 17) | 4,209 |  | 3,822 |  | - |  | - |  |

| Trade creditors | 2,106,093 |  | 2,082,346 |  | - |  | - |  |

| Tax | 171,523 |  | 16,624 |  | - |  | - |  |

| Social security and other taxes | 671,165 |  | 582,216 |  | - |  | - |  |

| VAT | 1,195,309 |  | 1,330,547 |  | - |  | - |  |

| Other creditors | 576,347 |  | 503,384 |  | 572,955 |  | 503,384 |  |

| Directors' loan accounts | 18,401 |  | 8,507 |  | 18,401 |  | 8,507 |  |

| Accruals and deferred income | 3,122,062 |  | 2,679,953 |  | 6,360 |  | 4,920 |  |

7,865,109 |  | 7,207,399 |  | 597,716 |  | 516,811 |  |

| Included within accruals is £72,855 (2024: £2,894) in relation to unpaid pensions.

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts (see note 17) | 11,095 |  | 15,304 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 3,545,165 |  | 2,106,076 |  |

| Other creditors | 1,012,558 |  | 2,381,420 |  | 1,012,558 |  | 2,381,420 |  |

| Directors' loan accounts | 225,000 |  | 225,000 |  | 225,000 |  | 225,000 |  |

1,248,653 |  | 2,621,724 |  | 4,782,723 |  | 4,712,496 |  |

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 4,209 |  | 3,822 |  |

| Between one and five years | 11,095 |  | 15,304 |  |

15,304 |  | 19,126 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

17. | LEASING AGREEMENTS - continued

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 897,056 |  | 876,955 |  |

| Between one and five years | 784,538 |  | 1,372,341 |  |

| In more than five years | 303,483 |  | 394,720 |  |

1,985,077 |  | 2,644,016 |  |

18. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Hire purchase contracts | 15,304 |  | 19,126 |  | - |  | - |  |

| Other Creditors | 1,585,514 |  | 2,884,805 |  | - |  | 2,884,805 |  |

1,600,818 |  | 2,903,931 |  | - |  | 2,884,805 |  |

| The hire purchase liability is secured against the assets these relate to.

| The other creditor balance has a fixed and floating charge over the groups assets.

| HSBC UK holds a fixed and floating charge over all assets of the group.

19. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax | 27,212 |  | 57,926 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1st May 2024 | 57,926 |  |

| Provided during year | (30,714 | ) |

| Balance at 30th April 2025 | 27,212 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 927 | A Ordinary Shares | 0.01 | 9 |  | 9 |  |

| Allotted and issued:

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

| value: | £ | £ |

| 74 | Z Ordinary shares | 0.01 | 1 |  | 1 |  |

| A Ordinary shares have one vote per share, full dividend and rights on winding up.

| Z Ordinary shares have no voting rights, full dividend and rights on winding up.

21. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1st May 2024 | 267,927 |  |

| Profit for the year | 332,769 |  |

| Actuarial gains on defined

| benefit asset | 16,000 |  |

| OCI deferred tax | 2,500 |  |

| At 30th April 2025 | 619,196 |  |

| Company

| Retained

| earnings

£ |

| At 1st May 2024 | (68,479 | ) |

| Deficit for the year | (151,309 | ) |

| At 30th April 2025 | (219,788 | ) |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

22. | EMPLOYEE BENEFIT OBLIGATIONS

| The group operates one defined benefit scheme during the year, the Quarr Group Limited Life Assurance Plan. The employer began participating in the Plan on 25th July 2023 and on 1st August 2023 the assets and defined benefit obligations of the Plan were shared between MountJoy and N-Viro Limited.

| The Quarr Group Limited Life Assurance Plan ("the Scheme") is an independently administered final salary scheme, where members receive benefits based on their final salary. The Scheme also provides benefits to spouses and dependants in the event of a member's death after retirement. Following consultation with the trustees of the Scheme and the Scheme members, the Scheme was closed to further service accrual with effect from 31st July 2005.

| The most recent actuarial valuation is 6th April 2025, the actuarial method used in the calculation of the Technical Provisions is the Defined Accrued Benefits Method and the significant assumptions that have been used are set out below.

| The amounts recognised in the balance sheet are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Present value of funded obligations | (1,534,000 | ) | (1,638,000 | ) |

| Fair value of plan assets | 1,837,000 |  | 1,911,000 |  |

303,000 |  | 273,000 |  |

| Present value of unfunded obligations | - |  | - |  |

| Surplus | 303,000 |  | 273,000 |  |

| Deferred tax liability | (75,750 | ) | (68,250 | ) |

| Net asset | 227,250 |  | 204,750 |  |

| The amounts recognised in profit or loss are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Current service cost | - |  | - |  |

| Net interest from net defined benefit asset/liability | 81,000 |  | (6,000 | ) |

| Past service cost | - |  | - |  |

| Gains/losses on settlements and curtailments | - |  | (241,000 | ) |

81,000 |  | (247,000 | ) |

| Actual return on plan assets | 30,000 |  | 89,000 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

22. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| Changes in the present value of the defined benefit obligation are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Opening defined benefit obligation | 1,638,000 |  | - |  |

| Interest cost | 81,000 |  | 58,000 |  |

| Benefits paid | (104,000 | ) | (63,000 | ) |

| Business combinations | - |  | 1,644,000 |  |

| Other remeasurement | (81,000 | ) | (1,000 | ) |

1,534,000 |  | 1,638,000 |  |

| Changes in the fair value of scheme assets are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Opening fair value of scheme assets | 1,911,000 |  | - |  |

| Asset interest income | 95,000 |  | 64,000 |  |

| Benefits paid | (104,000 | ) | (63,000 | ) |

| Business combinations | - |  | 1,885,000 |  |

| Return on plan assets (excluding interest income) | (65,000 | ) | 25,000 |  |

1,837,000 |  | 1,911,000 |  |

| The amounts recognised in other comprehensive income are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Other remeasurement | 81,000 |  | 1,000 |  |

| Return on plan assets (excluding interest income) | (65,000 | ) | 25,000 |  |

16,000 |  | 26,000 |  |

MOUNTJOY HOLDINGS LIMITED (REGISTERED NUMBER: 15224566)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH APRIL 2025

22. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| The major categories of scheme assets as amounts of total scheme assets are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£ | £ |

| Equities | 632,000 |  | 1,380,000 |  |

| Bonds | 98,000 |  | 92,000 |  |

| Cash | 591,000 |  | 118,000 |  |

| Liability Driven Investments | 493,000 |  | 294,000 |  |

| Annuity policy | 23,000 |  | 27,000 |  |

1,837,000 |  | 1,911,000 |  |

| Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2025 | 2024 |

| Discount rate | 5.47% | 5.11% |

| Rate of future inflation - RPI | 3.32% | 3.66% |

| Rate of future inflation - CPI | 2.87% | 3.15% |

| Expected rate of increase pensions in payment | 3.11% | 3.36% |

| Mortality assumptions |  | 2025 |  |  | 2024 |  |

| Assumed life expectations on retirement at age 65: |  | Years |  |  | Years |  |

| Retiring today |  |

| -Males |  | 21 |  |  | 21 |  |

| - Females |  | 24 |  |  | 24 |  |

| Retiring in 20 years |  |

| - Males |  | 23 |  |  | 23 |  |

| - Females |  | 25 |  |  | 25 |  |

23. | RELATED PARTY DISCLOSURES

| Directors of the group are owed £243,400 (2024:£233,507) as at 30th April 2025 and interest is paid on these balances at a rate of 10%.

| During the year, a total of key management personnel compensation of £ 307,142 (2024 - £ 153,122 ) was paid.