The directors present the strategic report for the period ended 31 March 2025.

Overview

The 17 months to 31 March 2025 marked a pivotal period in 24-7 Group’s evolution, defined by significant consolidation, operational integration and continued commercial growth. The Group delivered consolidated revenues of £63.38 million, gross profit of £13.24 million and EBITDA of £2 million, despite a year characterised by structural investment across systems, leadership, and divisional integration.

These results demonstrate the resilience of our circular self-delivery model — a structure that allows 24-7 Group to control quality, cost, risk and customer experience across every stage of delivery. Our integrated model continues to differentiate the Group within the UK technical services and engineering landscape.

Operationally, the Group strengthened its national footprint, deepened relationships across its blue-chip client base, and generated in excess of £50 million+ orderbook entering FY26.

Post year-end, the Group completed two strategically important milestones:

• Revolving Credit Facility with HSBC, supporting scale, acquisition and working capital flexibility.

• Acquisition of Leetons Group, expanding regional capacity and building on the Group’s multi-trade delivery platform.

Following this addition and the in-year planned workforce expansion, Group headcount currently exceeds 250 employees.

Strategic progress - Circular Delivery Model

24-7 Group continued to enhance its self-delivered, multi-disciplinary model across six integrated divisions:

Divisional Structure

• 24-7 FM – National reactive and planned maintenance, fabric, compliance and facilities services.

• 24-7 Projects – MEP design, installation and turnkey project delivery.

• 24-7 Security, Fire & Data (formerly PDS) – Life safety systems, CCTV, access control, security technology and structured cabling.

• 24-7 Energy Services (formerly JW Jones) – Renewables, heating, EV charging, PV, ASHP and commercial energy systems.

• Haywood & Jackson – Engineering, fabrication, CE-marked steel, process pipework and industrial installation.

• C Erison Shopfitting – UK and European fit-out across retail, healthcare, leisure and commercial sectors.

This integrated model remains core to the Group’s identity and enables:

• Margin optimisation through in-house delivery.

• Blended commercial models for major frameworks.

• Whole-life client relationships.

• Cross-sell across engineering, FM, energy, security and build environments.

• Reduction in subcontractor dependency.

The approach reinforces the operational philosophy articulated in the Group’s Built By Us framework which has been circulated in the business as our Target Operating Model.

Acquisition integration

During the period the Group focused on embedding recent acquisitions:

• Haywood & Jackson: Margin improvement driven by enhanced engineering cost modelling, increased fabrication throughput and better utilisation across pipework and steelwork teams.

• 24-7 Energy Services (formerly JW Jones): Expanded renewable capability, upgraded commercial governance, and improved forecasting discipline. Strong performance in energy upgrades.

• C Erison Shopfitting: Increased pipeline diversification whilst being awarded its largest ever contract under a framework agreement.

• 24-7 Security, Fire & Data (formerly PDS): Strengthened integration with FM and Projects, supporting Group-wide compliance and technology-led service delivery.

These actions align to the acquisition rationale and integration framework laid out in the Group’s acquisition summaries and transaction documentation.

Client development

The Group continued to expand and deepen relationships with key national clients, including Tesco, H&M, Amazon, ICT, Aldi, Network Rail, Moto, Royal Mail, United Utilities.

Client-level data evidences:

• 94% retention rate.

• 80% framework/repeat revenue.

• Sector diversification across retail, logistics, public sector, healthcare and engineering.

• Long-term relationship building, averaging 8+ years with major clients.

This resilience is further reflected in FY26 revenue underpin, with 69% of the forecast already secured and a further 13% identified as probable wins.

Operational excellence

People and culture:

• Group headcount now exceeds 250 employees post-year-end.

• Retention remains at c.94+%, consistent with the FY27 seeing the roll out of a People’s Charter.

• Recruitment strengthened across technical, project, engineering and support roles to underpin FY26–FY28 growth.

Technology and systems

Aligned to the Group’s digital roadmap, the period saw:

• Ongoing Finance and ERP implementation across divisions in FY27

• Deployment of a unified mobile workforce platform into FY28

These initiatives will deliver structural efficiency gains over FY26–FY28.

The group and company has to deal with the general risks and uncertainties over the state of the economy as a whole as well as the specific external pressures facing the construction industry sector which may impact upon the performance of the business from time to time.

The directors use timely management accounts information and budgeting and forecasting techniques to attempt to build in the effects of all known risks and try to allow a buffer for any other unknown risks which may arise.

Outlook

The Group enters FY27 in a strong position, with:

• High degree of surety around budgeted revenue secured.

• Growth via a robust acquisition pipeline supported by our investments in the Sales and Marketing team.

• Budgeted Management forecasts EBITDA to increase to £5.0 million in FY27, supported by:

  • Expansion of national FM and MEP frameworks.

  • Pricing optimisation via procurement consolidation.

  • Strengthening the Group’s engineering-led delivery model.

Medium-Term Priorities (FY26–FY28):

• Organic growth across FM, Projects, Energy, Fire/Security/Data and Engineering divisions.

• Inorganic expansion, focusing on targets in North West and geography not covered currently via 24-7 Group offices.

• National hub-and-spoke operational model expansion.

• Margin enhancement, targeting high single digit/early double digit % Adjusted EBITDA by FY28.

These priorities align with the Group’s multi-year forecast model and strategic plan for scaling to £125m+ turnover.

The consolidated financial highlights for the 17-month period are summarised as follows:

• Revenue: £63.38m

• Gross Profit: £13.24m

• Gross Margin: 20.88%

• EBITDA: £2m

• Profit Before Tax: £1.07m

• Profit After Tax: £0.57m

• Orderbook: £50+m

Gross margin performance remains consistent with consolidated modelling across all operating divisions — FM, Projects, 24-7 Security, Fire & Data, C Erison Shopfitting, Haywood & Jackson and 24-7 Energy Services — which collectively benchmark against the Group’s centrally validated margin framework.

EBITDA performance reflects:

• Integration costs across newly acquired entities over the past 3 years.

• Strengthening of the management and support functions and the costs with making those changes.

The Group maintained a disciplined approach to revenue recognition consistent with the Group policy.

The past 17 months have strengthened our foundation for national scale. Delivering £63.4 million in revenue and £2.0 million in EBITDA during a period of major integration demonstrates the capability, resilience and unity of our Group.

The rebranding of 24-7 Energy Services and 24-7 Security, Fire & Data brings clarity to our service lines and reinforces our identity as a single, integrated technical services provider. Our new HSBC revolving credit facility and the acquisition of Leetons Group further accelerate our journey.

We are building a Group defined not by size alone, but by capability, culture and credibility. By 2028/9, 24-7 Group will be recognised as one of the UK’s premier technical services and FM provider.

"Built different. Built better. Built by us.”

On behalf of the board

The directors present their annual report and financial statements for the period ended 31 March 2025.

The principal activity of the company continued to be that of a holding company. The principal activities of the group include the provision of electrical, mechanical, security and facilities management services together with electrical engineering support, fabrication services, green energy systems and shop fitout work.

The results for the period are set out on page 9.

Ordinary dividends were paid amounting to £243,786. The directors do not recommend payment of a further dividend.

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

The group and company uses management accounts, budgeting and forecasting techniques to manage the liquidity, interest and foreign currency risks associated with the group's and company’s activities.

The group's and company’s principal financial instruments used are basic financial instruments, as there are minimal currency risks and interest rate risks arising from the group's and company’s activities, with bank overdrafts and loan facilities available to all group companies, the main purpose of which is to raise finance for the group's and company’s operations. The group and company has various financial assets and liabilities such as trade debtors and trade creditors arising directly from its operations.

The group and company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group and company has sufficient liquid resources to meet the operating needs of the business.

The group and company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The group and company tries to manage the mix of fixed and variable rate debt so as to reduce its exposure to changes in interest rates.

The nature of the group's and company’s operations means that foreign currency exposures are rare as trading does not normally occur with overseas companies.

Investments of cash surpluses, borrowings and other financing options are made through banks and companies which must fulfil credit rating criteria approved by the board of directors.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

The Board remains committed to growing group operations organically and making strategic acquisitions where appropriate.

The auditor, Afford Bond Holdings Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The directors are responsible for preparing the Annual 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 group and company, and of the profit or loss of the group 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 UK 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

We have audited the financial statements of 24-7 Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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 group's and the parent company's affairs as at 31 March 2025 and of the group's profit for the period 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 group and parent 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 group's and parent 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 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. 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 course of 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 our audit:

• The information given in the strategic report and the directors' report for the financial period 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.

In the light of the knowledge and understanding of the group and the parent company and their 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent company 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.

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 parent 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 parent company or to cease operations, or have no realistic alternative but to do so.

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, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our procedures are developed based on risks identified from our knowledge of the entity, its environment, the significant laws and regulations governing its activities and of the related parties and service organisations connected with it. We also consider how the systems and controls the entity has put in place over its activities might mitigate risks identified.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we undertook procedures which included, but were not limited to :

• Enquiry of management, those charged with governance around actual and potential litigation and claims.

• Reviewing minutes of meetings of those charged with governance.

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

• Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 parent 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 parent company’s members 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

As permitted by section 408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £266,188 (2023 - £207,146 profit).

24-7 Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Craven House, 4 Britannia Road, Sale, Cheshire, M33 2AA. .

The group consists of 24-7 Holdings Limited and all of its subsidiaries.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The financial statements have been prepared using the acquisition accounting method such that the group profit and loss account current period covers a full twelve months, with the comparative figures showing the results for the post-acquisition period from 18 February 2022 to 31 October 2022. Prior to the group reorganisation date of 18 February 2022 the company was dormant.

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated group financial statements consist of the financial statements of the parent company 24-7 Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. 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.

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is five to ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

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 recognised in the profit and loss account.

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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.

Cost is calculated using the first in first out method.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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. 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 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 where 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 in a 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. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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, which include debtors and cash and bank balances, are initially 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.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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 occurring 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.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group after deducting all of its 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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 leased asset are consumed.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

An analysis of the group's turnover is as follows:

Sales are only made in the UK.

The amortisation of intangible assets is included within administration expenses.

The average monthly number of persons (including directors) employed by the group and company during the period was:

Their aggregate remuneration comprised:

As total directors' remuneration was less than £200,000 in the current period, no disclosure is provided for that period.

The corporation tax rate applicable up to 31 March 2023 was 19% for companies of any size, with the rate applicable for larger companies becoming 25% from 1 April 2023.

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

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.

More information on impairment movements in the period is given in note 13.

The carrying value of land and buildings comprises:

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

A debenture dated 1 March 2022 created fixed and floating charges over the assets of the group companies.

More information on impairment movements in the period is given in note 13.

On 31 October 2023 the group acquired 250 ordinary B shares of £1 each, issued at par for cash consideration, of Moxie 365 Ltd, resulting in a 25% shareholding in this associate company.

These financial statements are consolidated financial statements for 24-7 Holdings Limited, the ultimate parent company of 24-7 Group.

Details of the company's subsidiaries at 31 March 2025 are as follows:

Registered office addresses (all UK unless otherwise indicated):

The investments in subsidiaries in the parent company's separate financial statements are all stated at cost.

Details of associates at 31 March 2025 are as follows:

Investments in associates are accounted for in accordance with the equity method.

Total obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

Any loans made to a group company are secured by a debenture dated 1 March 2022 creating fixed and floating charges over the assets of the group companies. A composite company unlimited multilateral guarantee dated 9 July 2014 was provided to the bank by the non-dormant group companies.

The bank loan is over a four year repayment term, expected to mature in February 2026, with the rate of interest calculated at the bank base rate plus a stated margin. Security has been lodged at Companies House in the form of a debenture, creating fixed and floating charges over the assets of the company, and covenants testing is required by the bank.

Finance lease payments represent rentals payable by the group and company for certain of its motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is two to four years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

The deferred tax liability set out above is expected to reverse within four to five years of the initial transactions arising and relates to accelerated capital allowances that are expected to mature within the same period.

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

The company has one class of ordinary shares which carries no right to fixed income.

On 1 November 2023 the group acquired the business of the partnership trading as 'J W Jones & Son'.

The adjustments arising on acquisition were in respect of late cost provisions required to the fair values of the assets and liabilities acquired for the contracted consideration to the owners of the underlying trade.

The goodwill arising on the acquisition of the business is attributable to the anticipated profitability of the distribution of the company's products and services to a wider market as a result of including a formerly localised trade into a company which is a member of a national specialist construction group.

JW Jones & Son Limited was incorporated on 4 September 2023 to facilitate the acquisition of the trade and assets of an unincorporated entity, JW Jones & Son, on 1 November 2023.

On 3 May 2024 the group acquired 60% percent of the issued capital of C Erison Shopfitting Ltd.

The goodwill arising on acquisition is attributable to the anticipated profitability of the future operating synergies from the combination with the other group companies.

C Erison Holdings Limited was incorporated on 24 March 2024 to facilitate the acquisition of C Erison Shopfitting Ltd.

Any loans made to a group company are secured by a debenture dated 1 March 2022 creating fixed and floating charges over the assets of the group companies. A composite company unlimited multilateral guarantee dated 9 July 2014 was provided to the bank by the non-dormant group companies.

Operating lease payments represent rentals payable by the group for certain of its properties, vehicles and equipment. The property leases are for a term of up to ten years. Other leases are typically negotiated for an average term of two to four years.

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

During the period the group entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

The following amounts were outstanding at the reporting end date:

Sales and purchases of goods and services were made between related parties at market price.

The amounts outstanding are unsecured and will be settled in cash as and when cash flows permit.

Dividends totalling £243,786 (2023 - £191,500) were paid in the period in respect of shares held by the company's directors.

Interest free loans have been granted by the group to its directors as follows: