Jr Construction (Scotland) Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—7
Profit and Loss Account	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11—20

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

Review of the Business

The company has produced encouraging results in the year even though the company's turnover showed a decrease in the year to 30 September 2025. The current business projections continues to show growth for the company. The company's order book for 2026 is very healthy and the new projects that have started will hopefully ensure that the results for company in 2026 should exceed 2025. The company has a very experienced workforce and management team and the directors believe it is in a strong position to manage the risk and opportunity in the market place.

In the opinion of the directors, the company will continue in the foreseeable future and it is appropriate to prepare the financial statements on a going concern basis. As reflected in the Statement of Income and Retained earnings on pages 9, 10 and 11 turnover has decreased in the year at £25,279,847 (2024 - £31,811,555) with the profit before taxation increasing to £1,176,668 from £441,969. Net assets has increased to £4,388,775 (2024 - £3,408,719).

The commitment to the affordable housing sector has resulted in significant opportunities for the company and with our strong order book going forward we will be able to continue to expand. The directors have belief that with their investment in skill development and training it will enable them to navigate successfully the current skill shortages that are apparent in the construction industry. The company also will endeavour to strengthen its supply chain through its associated companies in the belief that this will keep the company well placed to capitalise on the opportunities that present themselves.

Principal Risks and Uncertainties

The directors meet monthly too consider the principal risks and uncertainties affecting the company which have fundamentally arose from the general economic conditions affecting the construction industry. This has resulted in the industry facing skills shortages and also supply chain issues. Investing in associated companies which are involved in the companies supply chain and by also heavily investing in training for the workforce will mean that the company will be in a strong position to meet these challenges in the future.

Credit risk

The company is mainly exposed to credit risk from credit sales and will assess the credit risk of new customers before entering contracts. Active monitoring of customer debt is undertaken to manage exposure to any loss

Liquidity risk

Liquidity risk arises from the company's management of working capital. It is the risk that the company couldl encounter difficulty in meeting its financial obligations as they fall due. The directors review cash flow projections regularly to ensure working capital is appropriately managed within the company and also to mitigate this risk.

Going Concern

All the detailed above will have consequences on the future profitability of the company. The directors have prepared the accounts on a going concern basis as the company has sufficient cash reserves and also a healthy order book of contracts. As reflected in the Statement of Income and Retained earnings on pages 8, 9 and 10, the company has a profit for the year of £980,056, resulting in net assets of £4,388.775 The directors have prepared projections and the directors have made conclusions based on these forecasts that the company have sufficient reserves to meet it's obligations for at least 12 months from the date of the authorisation of the financial statements.

In the opinion of the directors, the group and the company will continue in the foreseeable future and it is appropriate to prepare the financial statements on a going concern basis.

On behalf of the board

G McGregor

Director

05/12/2025

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Jr Construction (Scotland) Limited

Company No. SC534950

Directors' Report For The Year Ended 30 September 2025

Directors' Report

The directors present their report and the financial statements for the year ended 30 September 2025.

Principal Activity

The company's principal activity in the year under review was that of residential construction. The company's business results and future developments are explained in the strategic report at page 2.

Dividends

The value of dividends paid amounted to £NIL .

The directors recommended a final dividend of £NIL .

Political Donations and Expenditure

The company made donations to local charities totalling £8,350 in the year to 30 September 2025.

Directors

The directors who held office during the year were as follows:

J Horne
G McGregor
A D Dallas
J Murdoch	Resigned	11/10/2024

Statement of Directors' Responsibilities

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Jr Construction (Scotland) Limited

Directors' Report (continued)

For The Year Ended 30 September 2025

Independent Auditors

The auditors, The Kelvin Partnership Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

G McGregor

Director

05/12/2025

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Independent Auditor's Report

to the Members of

Jr Construction (Scotland) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Jr Construction (Scotland) Limited for the year ended 30 September 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

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

Conclusions Relating to Going Concern

In auditing the 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Jr Construction (Scotland) Limited

Matters on Which We Are Required to Report by Exception

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

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

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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Independent Auditor's Report (continued)

to the Members of

Jr Construction (Scotland) Limited

Auditor's Responsibilities for the Audit of the Financial Statements

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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outline above, to detect material misstatements in respect of irregularities, including fraud. The extent to which these can detect irregularities, including fraud is detailed below.

To assess the susceptibility of the company's financial statements to material misstatement, including how fraud may occur.

We enquired with the directors for the company's policies and procedures to detect fraud as well as whether they have knowledge of any actual, suspected or alleged fraud

Using analytical procedures to identify any unusual or unexpected transactions

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud within the company.

As required by auditing standards we perform procedures to address the risk of management override of controls and in particular that the company management may be in a position to make inappropriate accounting entries and the risk of bias in accounting estimates and judgements such as depreciation, prepayments, accruals, work-in-progress and bad debt provision.

We did not identify any additional fraud risks.

In determining the audit procedures we took into account the results of our evaluation and testing of the operating effectiveness of the company's fraud risk management controls.

We also performed procedures including:

Identifying journal entries to test for all full scope components based on risk criteria and comparing the identified entries to supporting documentation. These included, as relevant, those posted to unusual accounts

Assessing significant accounting estimates for bias

Reviewing large and unusual transactions outside the ordinary course of the company's business.

Identifying undisclosed related parties

We discussed with management matters related to actual or suspected fraud and considered any implications for our audit.

We ensured that the audit team collectively had the necessary competence and skills to recognise non-compliance with laws and regulations.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and through discussion with the directors (as required by auditing standards).

As the company is regulated our assessment of risks involved gaining an understanding of the control environment including the company's procedures for complying with regulatory requirements.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statement varies considerably.

Firstly, the entity is subject to very strict laws and regulations that directly affect the financial statements including financial reporting legislation, including the Companies Act 2006, FRS102, the UK Corporate tax laws and UK VAT laws. We assessed the extent of the compliance with these laws and regulations by carrying out a review of the financial statement disclosures and a review of correspondence with the tax authorities.

Secondly, the entity is subject to many other laws and regulations including the Environmental Waste Regulations, AML regulations, GDPR, Employment Law, and Health and Safety, where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and management and inspection of regulatory and legal correspondence, if any.

Therefore if a breach of operational regulations is not disclosed to us or evident from the relevant correspondence, an audit will not detect that breach.

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

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 that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Jr Construction (Scotland) Limited

Craig M Fotheringam CA BSc (Senior Statutory Auditor) (Senior Statutory Auditor)

for and on behalf of The Kelvin Partnership Ltd , Statutory Auditor

05/12/2025

The Kelvin Partnership Ltd

The Cooper Building

505 Great Western Road

Glasgow

G12 8HN

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Jr Construction (Scotland) Limited

Profit and Loss Account

For The Year Ended 30 September 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		25,279,847	31,811,555
Cost of sales		(21,866,847 )	(29,327,593 )

GROSS PROFIT		3,413,000	2,483,962

Administrative expenses		(2,222,176 )	(2,105,901 )
Other operating income		20,000	40,000

OPERATING PROFIT	3	1,210,824	418,061
Loss on disposal of fixed assets		(47,749 )	-
Other interest receivable and similar income	8	25,266	32,868
Interest payable and similar charges	9	(11,673 )	(8,960 )

PROFIT BEFORE TAXATION		1,176,668	441,969
Tax on Profit	10	(196,612 )	(188,612 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		980,056	253,357

The notes on pages 11 to 20 form part of these financial statements.

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Jr Construction (Scotland) Limited

Balance Sheet

As At 30 September 2025

Balance Sheet

Registered number: SC534950

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11		279,550		176,520
Investments	12		1,523,107		1,523,107

			1,802,657		1,699,627
CURRENT ASSETS
Stocks	13	2,155,266		2,515,369
Debtors	14	8,044,934		5,535,306
Cash at bank and in hand		1,191,197		3,514,926

		11,391,397		11,565,601
Creditors: Amounts Falling Due Within One Year	15	(8,575,471 )		(9,739,732 )

NET CURRENT ASSETS (LIABILITIES)			2,815,926		1,825,869

TOTAL ASSETS LESS CURRENT LIABILITIES			4,618,583		3,525,496

Creditors: Amounts Falling Due After More Than One Year	16		(166,519 )		(72,647 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	18		(63,289 )		(44,130 )

NET ASSETS			4,388,775		3,408,719

CAPITAL AND RESERVES
Called up share capital	20		1		1
Profit and Loss Account			4,388,774		3,408,718

SHAREHOLDERS' FUNDS			4,388,775		3,408,719

On behalf of the board

G McGregor

Director

05/12/2025

The notes on pages 11 to 20 form part of these financial statements.

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Jr Construction (Scotland) Limited

Statement of Changes in Equity

For The Year Ended 30 September 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 October 2023	1	3,155,361	3,155,362
Profit for the year and total comprehensive income	-	253,357	253,357

As at 30 September 2024 and 1 October 2024	1	3,408,718	3,408,719


Profit for the year and total comprehensive income	-	980,056	980,056

As at 30 September 2025	1	4,388,774	4,388,775

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Jr Construction (Scotland) Limited

Notes to the Financial Statements

For The Year Ended 30 September 2025

Notes to the Financial Statements

1. General Information

Jr Construction (Scotland) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC534950 . The registered office is Cardea House, 5 Sandyford Road, Paisley, Renfrewshire, PA3 4HP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and 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 functional and presentation currency is GBP and these accounts are rounded to the nearest pound.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. The stage of completion is determined through reviewing valuations against the overall contract value. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that the total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred when it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained ina subsequent period.

The "percentage of completion" method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs.

Amounts recoverable on contracts are included within debtors and represent turnover recognised in excess of payments on account. Payments received on account represent amounts received in excess of turnover recognised.

2.3. Tangible Fixed Assets and Depreciation

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

The company adds to the carrying amount of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the statement of income and retained earnings during the period in which they are incurred.

Depreciation is charged so as to allocate the costs of the assets less their residual value over the estimated useful lives, using the reducing balance method.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% reducing balance
Fixtures & Fittings	33% reducing balance
Computer Equipment	33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.4. Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investment in artworks, whose market value cannot be reliably determined are stated at historic cost less impairment.

2.5. Leasing and Hire Purchase Contracts

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

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Development land is valued at historical cost.

At the end of each reporting period the land is assessed for impairment through discussions with the directors. If an item of land is impaired, the identified land is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractural provisions of the instrument.

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

Basic financial assets

Basic financial assets, including debtors and cash and bank balances, are iniitally measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Debtors

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

...CONTINUED

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.8. Financial Instruments - continued

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised.

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

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

Creditors

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

Holiday pay accrual

A liability is recognised to the extent of any unused pay entitlement which is accrued at the statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the statement of financial position date.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.10. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.12. Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.13. Judgements in and key sources of Estimation Uncertainty

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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.

Critical Judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going Concern

All the risks and uncertainties detailed in the strategic report will have consequences to the future trading uncertainty of the company. The directors have prepared the accounts on a going concern basis as the group financial and secured workload will support this coursc of action.

In the opinion of the directors the company will continue for the foreseeable future and it is appropriate to prepare the financial statements using the going concern basis. All the risks and uncertainties detailed above will have consequences on the future profitability of the company. The directors have prepared the accounts on a going concern basis as the company has sufficient cash reserves and also a healthy order book of contracts. As reflected in the Statement of Income and Retained earnings on pages 9, 10 and 11, the company has a profit for the year of £980,056, resulting in net assets of £4,388,775 The directors have prepared projections and the directors have made conclusions based on these forecasts that the company have sufficient reserves to meet it's obligations for at least 12 months from the date of the authorisation of the financial statements.

In the opinion of the directors, the group and the company will continue in the foreseeable future and it is appropriate to prepare the financial statements on a going concern basis.

Trade debtors

...CONTINUED

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.13. Judgements in and key sources of Estimation Uncertainty - continued

Whether any bad debt provision is required via review of trade debtors, contract debtors and contract retentions, with debts provided on a specific basis. Factors considered include customer payment history and agreed payment terms.

3. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Depreciation of tangible fixed assets	8,968	44,581

4. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	9,000	8,000


Other Services
Other non-audit services	1,000	1,000

5. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,393,361	2,010,363
Social security costs	270,548	222,128
Other pension costs	98,695	95,138

	2,762,604	2,327,629

6. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	7	7
Construction	37	35

	44	42

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

7. Directors' remuneration

	2025	2024
	£	£
Emoluments	172,833	149,000
Company contributions to money purchase pension schemes	61,321	61,321

	234,154	210,321

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	87,658	-
Company contributions to defined benefit pension schemes	1,321	-

	88,979	-

8. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	757	712
Intercompany interest	24,509	32,156

	25,266	32,868

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	3,523	1,731
Finance charges payable under finance leases and hire purchase contracts	8,150	7,229

	11,673	8,960

10. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	281,408	174,167
Prior period adjustment			(103,955 )	-

			177,453	174,167
Deferred Tax
Deferred taxation			19,159	14,445


Total tax charge for the period			196,612	188,612


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

...CONTINUED

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

	2025	2024
	£	£
Profit before tax	1,176,668	441,969

Tax on profit at 25% (UK standard rate)	294,167	110,492
Goodwill/depreciation not allowed for tax	2,242	-
Expenses not deductible for tax purposes	20,817	85,218
Capital allowances	(36,618 )	(21,543 )
Short term timing differences	19,959	14,445
Prior period adjustment	(103,955 )	-

Total tax charge for the period	196,612	188,612

11. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 October 2024	213,331	35,847	43,400	292,578
Additions	256,298	-	-	256,298
Disposals	(183,452 )	-	-	(183,452 )

As at 30 September 2025	286,177	35,847	43,400	365,424

Depreciation
As at 1 October 2024	42,638	35,216	38,204	116,058
Provided during the period	4,977	631	3,360	8,968
Disposals	(39,152 )	-	-	(39,152 )

As at 30 September 2025	8,463	35,847	41,564	85,874

Net Book Value
As at 30 September 2025	277,714	-	1,836	279,550

As at 1 October 2024	170,693	631	5,196	176,520

12. Investments

	Unlisted
	£
Cost
As at 1 October 2024	1,523,107

As at 30 September 2025	1,523,107

Provision
As at 1 October 2024	-

As at 30 September 2025	-

Net Book Value
As at 30 September 2025	1,523,107

As at 1 October 2024	1,523,107

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

13. Stocks

	2025	2024
	£	£
Land development	2,155,266	2,515,369

City Property Glasgow (Investments) LLP (Company Number: SO302466) hold a standard security over land at Caledonia Road, Glasgow, G69 7DQ.

14. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	4,516,811	2,275,662
Amounts recoverable on contracts	2,439,286	2,119,207
Other debtors	61,343	5,128
VAT	238,407	376,401
Amounts owed by group undertakings	789,087	758,908

	8,044,934	5,535,306

Included within amounts recoverable on contracts are £90,723 (2024 - £429,442) in respect of retentions that are due outwith one year.

15. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	57,996	61,955
Trade creditors	1,994,069	2,788,902
Corporation tax	281,408	174,167
Other taxes and social security	90,918	75,024
Other creditors	93,323	385,352
Pension	22,902	23,411
Payments received on account of contracts	4,642,583	3,271,171
Retentions payable	1,116,611	1,337,135
Accruals and deferred income	147,195	1,478,583
Amounts owed to group undertakings	128,466	144,032

	8,575,471	9,739,732

16. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	166,519	72,647

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

17. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	57,996	61,955
Later than one year and not later than five years	166,519	72,647

	224,515	134,602

	224,515	134,602

18. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	63,289	44,130

19. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 October 2024	44,130	44,130
Deferred taxation	19,159	19,159

Balance at 30 September 2025	63,289	63,289

20. Share Capital

	2025	2024
Allotted, called up but not fully paid	£	£
1 Ordinary Shares of £ 1.00 each	1	1

21. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £98,695 (2024: £95,138).

At the balance sheet date contributions of £22,902 (2024: £23,411 ) were due to the fund and are included in creditors.

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Jr Construction (Scotland) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

22. Related Party Disclosures

The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

At 30 September 2025, £7,669 (2024 - £18,317) was due to JR Specialist Services Limited and is included within creditors.

During the year, the company purchased goods and services to the value of £575,841 (2024 - £947,423) from JR Specialist Services Limited.

At 30 September 2025, £468,398 (2024 - £351,656) was due from DC Timber Systems Limited.

At 30 September 2025, DC Timber Systems Limited had a loan balance outstanding to JR Construction Limited of £nil (2024- £865).

During the year, the company purchased goods and services to the value of £856,024 (2024 - £1,769,362) from DС Timber Systems Limited.

Common director:

At 30 September 2025, £25,827 (2024- £30,686 within creditors) was due from JR Scaffold Services Limited, and is included in debtors.

During the year, the company purchased goods and services to the value of £715,486 (2024 - £897,428) from JR Scaffold Services Limited.

At 30 September 2025, £22,464 (2024 - £47,097) was due to Sprinklers Scotland Limited and is included within creditors.

During the year, the company purchased goods and services to the value of £261,190 (2024 - £267,615) from Sprinklers Scotland Ltd.

During the year, rent of £35,000 (2024: £35,000) was paid into the pension fund of the director Mr Horne.

23. Controlling Parties

The company's ultimate controlling party is J R Group Holdings Limited by virtue of their interest in the share capital of the company.

Page 20