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REGISTERED NUMBER: 05959174 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

IMD CONSTRUCTION LIMITED

IMD CONSTRUCTION LIMITED (REGISTERED NUMBER: 05959174)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Chartered Accountants' Report | 8 |

IMD CONSTRUCTION LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | I M Davies

| Mrs T R Davies

| REGISTERED OFFICE: | Kingsland House

| 39 Abbey Foregate

| Shrewsbury

| Shropshire

| SY2 6BL

| REGISTERED NUMBER: | 05959174 (England and Wales)

| ACCOUNTANTS: | D.R.E. & Co. Limited

| Chartered Accountants

| Kingsland House

| 39 Abbey Foregate

| Shrewsbury

| Shropshire

| SY2 6BL

IMD CONSTRUCTION LIMITED (REGISTERED NUMBER: 05959174)

BALANCE SHEET

31 MARCH 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 115,224 |  | 166,837 |  |

Investments | 5 | 2,159,962 |  | 2,053,800 |  |

2,275,186 |  | 2,220,637 |  |

CURRENT ASSETS

Stocks | 6 | 47,800 |  | 54,275 |  |

Debtors | 7 | 4,946,099 |  | 1,940,569 |  |

Cash at bank and in hand | 2,300,472 |  | 3,660,814 |  |

7,294,371 |  | 5,655,658 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,298,754 |  | 1,274,760 |  |

NET CURRENT ASSETS | 5,995,617 |  | 4,380,898 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,270,803 |  | 6,601,535 |  |

PROVISIONS FOR LIABILITIES | 44,240 |  | 23,577 |  |

NET ASSETS | 8,226,563 |  | 6,577,958 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Fair value reserve | 10 | 114,098 |  | 86,288 |  |

Retained earnings | 8,112,365 |  | 6,491,570 |  |

SHAREHOLDERS' FUNDS | 8,226,563 |  | 6,577,958 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

IMD CONSTRUCTION LIMITED (REGISTERED NUMBER: 05959174)

BALANCE SHEET - continued

31 MARCH 2025

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

I M Davies - Director

IMD CONSTRUCTION LIMITED (REGISTERED NUMBER: 05959174)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

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

| The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 20% on reducing balance

| Fixtures and fittings | - | 20% on reducing balance

| Motor vehicles | - | 20% on reducing balance

| Stocks

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

| Financial instruments

| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

| Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

| Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

IMD CONSTRUCTION LIMITED (REGISTERED NUMBER: 05959174)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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

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

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Fixed asset investments

| Listed investments are included at fair value. Changes in fair value are recognised in the income statement. The fair value is based on the mid-market value at the balance sheet date, as given in the portfolio valuations provided by Rathbones and Brewin Dolphin, which are based on Stock Exchange values. Provision is made for impairment of listed investments where there is considered to be a permanent diminution in value Investments are listed on either the UK stock exchange, AIM or non-UK stock exchanges.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2024 - 9 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |

| machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | - |  | 12,010 |  | 295,816 |  | 307,826 |  |

| Additions | 39,401 |  | 3,220 |  | 44,595 |  | 87,216 |  |

| Disposals | - |  | - |  | (161,883 | ) | (161,883 | ) |

| At 31 March 2025 | 39,401 |  | 15,230 |  | 178,528 |  | 233,159 |  |

| DEPRECIATION

| At 1 April 2024 | - |  | 5,828 |  | 135,161 |  | 140,989 |  |

| Charge for year | 7,880 |  | 1,880 |  | 19,045 |  | 28,805 |  |

| Eliminated on disposal | - |  | - |  | (51,859 | ) | (51,859 | ) |

| At 31 March 2025 | 7,880 |  | 7,708 |  | 102,347 |  | 117,935 |  |

| NET BOOK VALUE

| At 31 March 2025 | 31,521 |  | 7,522 |  | 76,181 |  | 115,224 |  |

| At 31 March 2024 | - |  | 6,182 |  | 160,655 |  | 166,837 |  |

IMD CONSTRUCTION LIMITED (REGISTERED NUMBER: 05959174)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

5. | FIXED ASSET INVESTMENTS

| Listed

| investments

£ |

| COST OR VALUATION

| At 1 April 2024 | 2,053,800 |  |

| Additions | 426,482 |  |

| Disposals | (342,568 | ) |

| Revaluations | 22,248 |  |

| At 31 March 2025 | 2,159,962 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,159,962 |  |

| At 31 March 2024 | 2,053,800 |  |

| Cost or valuation at 31 March 2025 is represented by:

| Listed

| investments

£ |

| Valuation in 2024 | 115,051 |  |

| Valuation in 2025 | 22,248 |  |

| Cost | 2,022,663 |  |

2,159,962 |  |

6. | STOCKS

| 31.3.25 |  | 31.3.24

£ | £ |

| Stocks | 47,800 |  | 54,275 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 1,085,664 |  | 1,184,839 |  |

| Amounts owed by group undertakings | 354 |  | - |  |

| Amounts owed by associates | 480 |  | - |  |

| Other debtors | 279,783 |  | 584,822 |  |

| Directors' current accounts | 2,562,904 |  | - |  |

| Tax | 864,979 |  | - |  |

| VAT | 151,682 |  | 161,696 |  |

| Prepayments | 253 |  | 9,212 |  |

4,946,099 |  | 1,940,569 |  |

IMD CONSTRUCTION LIMITED (REGISTERED NUMBER: 05959174)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 291,169 |  | 348,580 |  |

| Tax | 1,000,651 |  | 909,038 |  |

| Social security and other taxes | - |  | 5,295 |  |

| Other creditors | - |  | 3,966 |  |

| Directors' current accounts | - |  | 7 |  |

| Accruals and deferred income | 6,934 |  | 7,874 |  |

1,298,754 |  | 1,274,760 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Within one year | 24,213 |  | 29,162 |  |

| Between one and five years | 39,520 |  | 59,597 |  |

63,733 |  | 88,759 |  |

10. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 April 2024 | 86,288 |  |

| Movement | 27,810 |  |

| At 31 March 2025 | 114,098 |  |

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

£ | £ |

| I M Davies and Mrs T R Davies

| Balance outstanding at start of year | - |  | 10,000 |  |

| Amounts advanced | 2,562,903 |  | - |  |

| Amounts repaid | - |  | (10,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 2,562,903 |  | - |  |

| Interest accrued during the year on the overdrawn loan account balance at an annual rate of 2.25%.

12. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is IMD Holdings Limited.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

IMD CONSTRUCTION LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IMD Construction Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of IMD Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IMD Construction Limited and state those matters that we have agreed to state to the Board of Directors of IMD Construction Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IMD Construction Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that IMD Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IMD Construction Limited. You consider that IMD Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IMD Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

D.R.E. & Co. Limited

Chartered Accountants

Kingsland House

39 Abbey Foregate

Shrewsbury

Shropshire

SY2 6BL

28 November 2025