Whelan & Grant (Contractors) Limited Company accounts

COMPANY REGISTRATION NUMBER: 00884268

Whelan & Grant (Contractors) Limited

Financial Statements

For the year ended

30 June 2025

Whelan & Grant (Contractors) Limited

Financial Statements

Year ended 30 June 2025

Contents	Page

Strategic report	1

Directors' report	3

Directors' responsibilities statement	6

Independent auditor's report to the member	7

Statement of income and retained earnings	10

Statement of financial position	11

Notes to the financial statements	12

Whelan & Grant (Contractors) Limited

Strategic Report

Year ended 30 June 2025

The directors, in preparing this strategic report, have complied with s414C of the Companies Act 2006.

Business review and principal activities

The company is a wholly owned subsidiary of Whelan & Grant (Holdings) Ltd. The company's principal activity is concrete frame construction . There have not been any significant changes in the company's principal activities in the year under review. The directors are not aware, at the date of this report, of any likely major changes in the company's activities in the next year. The year to June 2025 has shown continuing growth in terms of both turnover and profit, partly as a result of the establishment of a groundworks department which has now completed a number of successful projects. Turnover was up 24% to £12,091,451 (£9,746,183 in 2024), whilst pre-tax profit showed a significant improvement to £338,464 (49,400 in 2024) and margins have remained consistent. Health and Safety is a key driver of the business and we are pleased to state that we had no recorded accidents in the year to June 2025. This is the first year we have achieved this milestone and it is a statistic that we are all proud of. Total net assets have increased in the period by 5% to £7,374,468.

Key performance indicators

The company measures its performance in a number of areas including, health and safety, customer satisfaction and profitability. Health and Safety: 2025 2024 AFR Minor = 0.00 14.08 AFR 7 Day = 0.00 0.00 AFR Major = 0.00 0.00 Profitability: Pre-Tax profit for the year is recorded as £338,464 (2024: £49,400) Turnover: Turnover for the year was £12,091,451 (2024: £9,746,183)

Principal risks and uncertainties

The Construction Industry continues to be affected by uncertainty within the overall Uk economy and achieving sufficient turnover at acceptable margins remains a problem. A new tendering process is now in place which should help us to better understand the market level and ensure we are pricing competitively. Competitive pressure in the UK construction industry is a continuing risk for the company, which could result in it losing market share to its competitors. The company manages this risk by providing added value services to its customers and specialises in high class exposed concrete frame projects at which it is a market leader. The focus on providing full frame packages including groundworks is proving successful and is expected to enable the company to continue to grow turnover back to target levels in coming years. Delayed project commencement dates are a continuing risk in maintaining a regular flow of work. 'Slippage' on major projects can reduce the overhead recovery in one period and increase it in another causing significant variation in financial figures for comparative years. Our focus on full frame packages including substructure and external works should assist as early involvement in site enabling works can help in more accurately predicting the commencement dates of the full project allowing alternative short term work to be sought. The Health and Safety of workers is a key risk for the Company and the individuals who work for it. We aim to limit that risk by ensuring we have a high quality Health & Safety department and robust processes and procedures covering all aspects of our operations.

Future prospects

The market for concrete frames remains competitive and winning work in 2026 will continue to be a challenge. A new estimating process has been installed and should give better feedback on tender pricing and costs. This, in the long term, should help to better understand the market and lead to an increase in project awards. Material prices are starting to stabilise although some level of inflation is still affecting most products. The recent increase in employment costs is also affecting margins and will need to be factored into future projects. The company is continuing to grow its upward supply chain and this will hopefully lead to further turnover growth in the coming years. Generally, Whelan & Grant remains in excellent financial health with a growing client base and despite the current difficulties in the industry we expect the market to continue to recover during 2026 and provide profitable work going forward.

This report was approved by the board of directors on 8 December 2025 and signed on behalf of the board by:

H Hobbs

Director

Whelan & Grant (Contractors) Limited

Directors' Report

Year ended 30 June 2025

The directors present their report and the financial statements of the company for the year ended 30 June 2025 .

Directors

The directors who served the company during the year were as follows:

S E George
R H White
B J Gilbert
H Hobbs

R H White - resigned 31 July 2025

Dividends

The directors do not recommend the payment of a dividend.

Financial risk management objectives and policies

The Company's activities expose it to a number of financial risks including operational risk, price risk, credit risk, cash flow risk and liquidity risk. Operational risk Operational risk is the risk of a direct or indirect loss resulting from the inadequacies or failures of processes or controls due to technology, staff, organisation or external factors. To monitor and control operational risk, the company maintains a system of comprehensive policies and a control framework which is designed to provide a sound and well-controlled operational environment. Price risk The Company is exposed to commodity price risk particularly on high value items such as concrete and reinforcement. This risk is managed by ensuring that where possible fixed price orders are placed for all significant purchases. Credit risk The Company's principal financial assets are bank balances. The Company's credit risk is primarily attributable to outstanding balances of interim payments from clients. Careful selection of clients and controls on payment terms limits this risk although it can never be fully eliminated. The Company aims to spread its exposure over a number of clients in order to minimise the effect of payment default by one customer. Cash flow risk Late payment by clients can lead to large cash flow fluctuations. These are managed by careful selection of clients, monitoring of agreed payment dates, and maintaining sufficient reserves to accommodate late payment. Liquidity risk In order to maintain liquidity to ensure funds are available for ongoing operations and future developments, the Company maintains suitable levels of cash on deposit.

Qualifying indemnity provision

The Company has made qualifying third party indemnity provision for the benefit of its directors which were made during the year and which remain in force at the date of this report.

Going concern

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of the financial statements. Whilst there is uncertainty in the current economic climate, the directors are confident that the company can operate to its projected turnover targets within its current cash levels for a period of at least 12 months from the date of the financial statements. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Disclosure of information in the strategic report

Details of the principal activities, business review and future developments of the company can be found in the strategic report and form part of this report by cross-reference.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that: - so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

WP Audit Services LLP have expressed their willingness to continue in office as auditor of the company and a resolution to reappoint them will be proposed at the forthcoming Annual General Meeting.

This report was approved by the board of directors on 8 December 2025 and signed on behalf of the board by:

H Hobbs

Director

Whelan & Grant (Contractors) Limited

Directors' Responsibilities Statement

Year ended 30 June 2025

The directors are responsible for preparing the strategic report, 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 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 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 judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and 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.

Whelan & Grant (Contractors) Limited

Independent Auditor's Report to the Member of Whelan & Grant (Contractors) Limited

Year ended 30 June 2025

Opinion

We have audited the financial statements of Whelan & Grant (Contractors) Limited (the 'company') for the year ended 30 June 2025 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 30 June 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 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 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context include the Companies Act and tax legislation. In addition, we considered the provisions of other laws and regulations that do not have an effect on the financial statements but compliance with which may be fundamental to the company's ability to incur or to avoid a material penalty, including the company's operating licences and environmental regulations. Our procedures in response to the risks identified included reviewing the financial statements disclosures and testing supporting documentation to assess compliance with the provisions of relevant laws and regulations considered to have a direct effect in the financial statements, enquiring of management concerning actual or potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, reading minutes of meetings of those charged with governance, reviewing correspondence with relevant regulatory authorities and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential audit risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. Use of our report

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

Andrew Carpenter FCA

(Senior Statutory Auditor)

For and on behalf of

WP Audit Services LLP

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

8 December 2025

Whelan & Grant (Contractors) Limited

Statement of Income and Retained Earnings

Year ended 30 June 2025

		2025	2024
Note		£	£
Turnover	5	12,091,451	9,746,183

Raw material and consumables		5,246,548	4,066,516
Other external expenses		3,969,718	3,284,213
Staff costs	8	1,956,025	1,781,329
Depreciation and other amounts written off tangible fixed assets		87,823	61,496
Other operating expenses		674,620	692,989
		-------------	------------
Operating profit/(loss)	6	156,717	( 140,360)

Other interest receivable and similar income	10	181,747	189,760
		-------------	------------
Profit before taxation		338,464	49,400

Tax on profit	11	( 5,463)	( 3,556)
		---------	--------
Profit for the financial year and total comprehensive income		343,927	52,956
		---------	--------

Retained earnings at the start of the year	7,029,541	6,976,585
	------------	------------
Retained earnings at the end of the year	7,373,468	7,029,541
	------------	------------

All the activities of the company are from continuing operations.

Whelan & Grant (Contractors) Limited

Statement of Financial Position

30 June 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	12	225,120	257,020
Investments	13	2	2
		---------	---------
		225,122	257,022

Current assets

Debtors	14	1,209,550	1,801,029
Cash at bank and in hand		7,810,279	6,669,015
		------------	------------
		9,019,829	8,470,044

Creditors: amounts falling due within one year	15	( 1,870,483)		( 1,692,484)
		------------		------------
Net current assets			7,149,346	6,777,560
			------------	------------
Total assets less current liabilities			7,374,468	7,034,582

Provisions for liabilities

Taxation including deferred tax	16	–	( 4,041)
		------------	------------
Net assets		7,374,468	7,030,541
		------------	------------

Capital and reserves

Called up share capital	19	1,000	1,000
Profit and loss account	20	7,373,468	7,029,541
		------------	------------
Shareholder's funds		7,374,468	7,030,541
		------------	------------

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

S E George	H Hobbs
Director	Director

Company registration number: 00884268

Whelan & Grant (Contractors) Limited

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The registered number is 00884268 . The address of its registered office is Clare House, 4 Thames Street, Walton on Thames, Surrey KT12 2PU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company finances its operations through cash balances. The company has no short or long term borrowings outside of the group companies. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of the financial statements. Whilst there is uncertainty in the current economic climate, the directors are confident that the company can operate to its projected turnover targets within its current cash levels for a period of at least 12 months from the date of the financial statements. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Whelan & Grant (Holdings) Limited which can be obtained from Companies House . As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of an EEA State.

Revenue recognition

Turnover comprises the value of goods and services supplied to external customers and the value of work executed in respect of contracts, excluding VAT and arises from its one principal activity in the United Kingdom.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	50 years (Freehold land is not depreciated)
Plant and machinery	-	4 or 10 years
Fixtures and fittings	-	10 years
Motor vehicles	-	4 years
Furniture and equipment	-	4 years

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised. Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments. No account is taken of amounts claimed from contractors on completed contracts until such claims are agreed and received. Retentions are accounted for within turnover when receivable. Amounts recoverable on contracts are stated at the value of turnover less related progress payments receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

The company operates defined contribution pension schemes for directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds.

4. Critical accounting judgements and key sources of estimation

uncertainty

In the application of the Company's accounting policies, which are described in note 3, 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies.

The directors have reviewed the judgements in regards to revenue recognition and other areas of the financial statements and concluded that there were no material judgements that require separate disclosure.

Key sources of estimation uncertainty

The Company's revenue recognition and margin recognition policies, which are set out in note 3 are central to how the company values the work it has carried out in the financial year and rely on accurate valuations of the works at the period end including a balancing of any advance costs.

5. Turnover

Turnover arises from:

	2025	2024
	£	£
Construction contracts	12,091,451	9,746,183
	-------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

6. Operating profit/(loss)

Operating profit or loss is stated after crediting:

	2025	2024
	£	£
Gains on disposal of tangible assets	( 1,831)	( 24,556)
	-------	--------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	10,500	10,000
	--------	--------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	9	9
Administrative staff	10	10
	----	----
	19	19
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	1,700,376	1,521,614
Social security costs	181,669	192,203
Other pension costs	73,980	67,512
	------------	------------
	1,956,025	1,781,329
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	641,648	556,877
Company contributions to defined contribution pension plans	25,671	24,449
	---------	---------
	667,319	581,326
	---------	---------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	3	3
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	226,486	191,400
Company contributions to defined contribution pension plans	11,179	10,647
	---------	---------
	237,665	202,047
	---------	---------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	181,747	189,760
	---------	---------

11. Tax on profit

Major components of tax income

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	( 5,463)	( 3,556)
	-------	-------
Tax on profit	( 5,463)	( 3,556)
	-------	-------

Reconciliation of tax income

The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	338,464	49,400
	---------	--------
Profit on ordinary activities by rate of tax	84,616	12,350
Adjustment to tax charge in respect of prior periods	265	–
Effect of expenses not deductible for tax purposes	9,065	9,421
Utilisation of tax losses	( 99,409)	( 27,725)
Effect of change in tax rates	–	2,398
	---------	--------
Tax on profit	( 5,463)	( 3,556)
	---------	--------

12. Tangible assets

	Freehold land & buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jul 2024	319,675	1,531,669	31,464	334,211	37,156	2,254,175
Additions	–	9,000	2,338	41,950	4,465	57,753
Disposals	–	–	–	( 35,470)	–	( 35,470)
	---------	------------	--------	---------	--------	------------
At 30 Jun 2025	319,675	1,540,669	33,802	340,691	41,621	2,276,458
	---------	------------	--------	---------	--------	------------
Depreciation
At 1 Jul 2024	223,785	1,476,169	26,888	233,159	37,154	1,997,155
Charge for the year	6,394	38,674	1,964	41,505	1,117	89,654
Disposals	–	–	–	( 35,471)	–	( 35,471)
	---------	------------	--------	---------	--------	------------
At 30 Jun 2025	230,179	1,514,843	28,852	239,193	38,271	2,051,338
	---------	------------	--------	---------	--------	------------
Carrying amount
At 30 Jun 2025	89,496	25,826	4,950	101,498	3,350	225,120
	---------	------------	--------	---------	--------	------------
At 30 Jun 2024	95,890	55,500	4,576	101,052	2	257,020
	---------	------------	--------	---------	--------	------------

13. Investments

	Shares in group undertakings
	£
Cost
At 1 July 2024 and 30 June 2025	2
	----
Impairment
At 1 July 2024 and 30 June 2025	–
	----

Carrying amount
At 30 June 2025	2
	----
At 30 June 2024	2
	----

The company owns 100% of the issued ordinary share capital of Clare Construction Services Limited (Company number 030076830), a dormant company incorporated in the United Kingdom and registered in England and Wales whose registered office is Clare House 4 Thames Street, Walton on Thames, Surrey KT12 2PU

14. Debtors

	2025	2024
	£	£
Trade debtors	6,432	504
Amounts owed by customers on construction contracts	682,688	1,383,496
Deferred tax asset	1,422	–
Prepayments and accrued income	128,893	15,174
Amounts owed by related parties	356,719	356,719
Other debtors	33,396	45,136
	------------	------------
	1,209,550	1,801,029
	------------	------------

Amounts owed by related parties are as follows:

	2025	2024
	£	£
M Grant Homes Limited	249,799	249,799
JP Whelan (Homes) Limited	106,920	106,920

These companies are related parties based on their joint ownership. The amounts relate to transactions incurred as a result of trading in previous years. There has not been any trading in the current year. Amounts owed by related parties are non-interest bearing, repayable on demand and unsecured.

15. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	320,847	472,233
Amounts owed to group undertakings	1,124,781	919,072
Accruals and deferred income	321,580	198,957
Social security and other taxes	81,736	92,139
Amounts owed to related parties - J P Whelan (Investments) Limited	10,083	10,083
Other creditors	11,456	–
	------------	------------
	1,870,483	1,692,484
	------------	------------

Amounts owed to group undertakings and related parties are non-interest bearing, repayable on demand and unsecured.

16. Provisions for liabilities

	Deferred tax (note 17)
	£
At 1 July 2024	4,041
Charge against provision	( 5,463)
Transfers	1,422
	-------
At 30 June 2025	–
	-------

17. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in debtors (note 14)	1,422	–
Included in provisions for liabilities (note 16)	–	( 4,041)
	-------	-------
	1,422	( 4,041)
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	1,418	4,041
Deferred tax - other timing differences	( 2,840)	–
	-------	-------
	(1,422)	4,041
	-------	-------

The timing of the reversal of the provision is uncertain due to the offset of excess depreciation of existing assets and accelerated capital allowances being claimed on future purchases.

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 73,980 (2024: £ 67,512 ).

19. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company.

20. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

21. Related party transactions

The Company's immediate parent undertaking is Whelan & Grant (Holdings) Limited, a company incorporated in the United Kingdom and registered in England & Wales. The Company is a wholly-owned member of Whelan & Grant (Holdings) Limited and as such has taken advantage of the exemption provided by Section 33.1A of FRS 102 not to provide disclosures of transactions entered into with other wholly-owned members of the Group. The registered office of Whelan & Grant (Holdings) Limited is Clare House, 4 Thames Street, Walton on Thames, Surrey, KT12 2PU.

22. Controlling party

In the opinion of the directors, the ultimate parent company is Whelan & Grant (Holdings) Limited , a company incorporated in the United Kingdom. The parent company and ultimate parent company is incorporated in the United Kingdom and registered in England and Wales. Consolidated financial statements are prepared by the ultimate parent company and this is the smallest and largest company which consolidates these accounts. Copies of the group financial statements of Whelan & Grant (Holdings) Limited are available from the Registrar of Companies, Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. The ultimate controlling parties are considered to be Laurence Grant, Johanna Staunton, and Raymond Murphy in their capacity as trustees of the Grant 2019 Family Settlement, together with Timothy Page in his capacity as executor of the Estate of Mrs Susan Whelan.