REGISTERED NUMBER: 06009150 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2025

FOR

MOUNTJOY LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

8

Income Statement

11

Other Comprehensive Income

12

Balance Sheet

13

Statement of Changes in Equity

14

Notes to the Financial Statements

15

DIRECTORS:

D J Carlin

S J Ingram

D O'Rourke

Ms T Roxborough

SECRETARY:

Ms B Carlin

REGISTERED OFFICE:

Fairfield House

47-51 Kingston Crescent

Portsmouth

Hampshire

PO2 8AA

REGISTERED NUMBER:

06009150 (England and Wales)

AUDITORS:

Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

The directors present their strategic report for the year ended 30th April 2025.

REVIEW OF BUSINESS

Mountjoy 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.

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 (2.4% increase)

- Operating Profit: £723k (Up from £653k in 2024 - after adjusting for non trading actuarial movements in Pension scheme)

- Free Cash Flow: £2.98m (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 company faces, and how these are being managed. Our approach is:

Principal Risks/Uncertainties

Statement of Company Position

Market Conditions:Both the company's construction and facilities management divisions are affected by the general macro conditions

The company'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 company operates in the construction and building markets which mean that staff and subcontractors are carrying out high risk activities

The company has a comprehensive H&S management system which is accredited to the International Standard ISO45001. The company's SHEQ Steering Group hasoversight of Safety, which meets bi-monthly and is chaired by the Managing Director.

Staff RetentionThe business is reliant on the attraction and retention of 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 FlowThe business is required to manage its cash flow to an optimum level to ensure it can meets its obligations

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.

SubcontractorsThe company relies on specialist subcontractors to deliver in its behalf. Risks include both safety and financial loss

The company uses and industry leading online subcontractor approval system to assess financial standing, performance and accreditation

SECTION 172(1) STATEMENT

The Company 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 Company'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 Company strategy.

- The interest of the employees. The Directors recognise the employees throughout the business are fundamental and core to the Company 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 Company always acts in a manner that promotes high standards of business conduct.

- The need to act fairly between members of the Company. 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

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

PRINCIPAL ACTIVITY

The principal activity of the company 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

Ms T Roxborough

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 company'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 company'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 company.

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)

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

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Shaw Gibbs (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Carlin - Director

27th November 2025

Opinion

We have audited the financial statements of Mountjoy Limited (the 'company') for the year ended 30th April 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30th April 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

We obtained an understanding of the legal and regulatory framework applicable to the company via discussions with the directors. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The company complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of Mountjoy Limited are revenue recognition and management override. Risks also arise from accounting estimates made by the directors which include calculation of work in progress and depreciation policies. The directors confirmed no actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing sales and work-in-progress and those areas susceptible to management override including testing manual journals, testing of payroll records and making enquiries of management. We also assessed the reasonableness of work in progress calculations and depreciation rates used.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Barr FCA (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

1st December 2025

TURNOVER

3

45,727,777

44,565,529

Cost of sales

36,253,984

35,599,207

GROSS PROFIT

9,473,793

8,966,322

Administrative expenses

8,751,140

8,072,445

OPERATING PROFIT

5

722,653

893,877

Other finance income

18

14,000

6,000

736,653

899,877

Interest payable and similar expenses

6

4,868

2,718

PROFIT BEFORE TAXATION

731,785

897,159

Tax on profit

7

150,810

136,113

PROFIT FOR THE FINANCIAL YEAR

580,975

761,046

PROFIT FOR THE YEAR

580,975

761,046

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

599,475

780,546

FIXED ASSETS

Tangible assets

8

361,673

428,788

CURRENT ASSETS

Stocks

9

32,494

31,620

Debtors

10

6,983,853

6,152,524

Cash at bank and in hand

2,986,872

2,633,103

10,003,219

8,817,247

CREDITORS

Amounts falling due within one year

11

7,267,393

6,690,588

NET CURRENT ASSETS

2,735,826

2,126,659

TOTAL ASSETS LESS CURRENT LIABILITIES

3,097,499

2,555,447

CREDITORS

Amounts falling due after more than one year

12

(11,095

)

(15,304

)

PROVISIONS FOR LIABILITIES

15

(27,212

)

(57,926

)

PENSION ASSET

18

227,250

204,750

NET ASSETS

3,286,442

2,686,967

CAPITAL AND RESERVES

Called up share capital

16

221,329

221,329

Retained earnings

17

3,065,113

2,465,638

SHAREHOLDERS' FUNDS

3,286,442

2,686,967

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

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st May 2023

221,329

1,685,092

1,906,421

Changes in equity

Total comprehensive income

-

780,546

780,546

Balance at 30th April 2024

221,329

2,465,638

2,686,967

Changes in equity

Total comprehensive income

-

599,475

599,475

Balance at 30th April 2025

221,329

3,065,113

3,286,442

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty

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

The 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).

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.

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.

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.

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.

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 company reported turnover for the period of £45.7m (2024: £44.6m) and Net Assets of £3.3m (2024: £2.7m).

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.

3.

TURNOVER

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

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

2025

2024

£

£

Maintenance

34,145,520

33,630,342

Construction contracts

11,582,257

10,935,187

45,727,777

44,565,529

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

11,643,489

11,401,673

Social security costs

1,136,546

1,093,091

Other pension costs

502,224

398,503

13,282,259

12,893,267

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

2025

2024

Facilities and maintenance

187

188

Administration

146

145

333

333

2025

2024

£

£

Directors' remuneration

288,210

354,428

Directors' pension contributions to money purchase schemes

187,157

121,600

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

Money purchase schemes

4

4

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

89,923

96,851

Pension contributions to money purchase schemes

63,504

22,000

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

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

1,031,350

669,114

Other operating leases

167,486

233,029

Depreciation - owned assets

166,755

159,045

Depreciation - assets on hire purchase contracts

5,452

2,272

Loss on disposal of fixed assets

319

-

Auditors' remuneration

16,961

21,401

Fees paid to the auditors for audit services totalled £16,750 (2024: £15,730). In addition to this a fee of £nil (2024: £2,490) has been paid to the auditors for non-audit services.

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

2,805

1,222

Hire purchase

2,063

1,496

4,868

2,718