FRANKHAM NATIONAL LIMITED Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 14729645

FRANKHAM NATIONAL LIMITED

Financial Statements

31 March 2025

FRANKHAM NATIONAL LIMITED

Financial Statements

Year ended 31 March 2025

Contents	Page

Strategic report	1

Directors' report	3

Independent auditor's report to the members	5

Consolidated statement of comprehensive income	9

Consolidated statement of financial position	10

Company statement of financial position	11

Consolidated statement of changes in equity	12

Company statement of changes in equity	13

Consolidated statement of cash flows	14

Notes to the financial statements	15

FRANKHAM NATIONAL LIMITED

Strategic Report

Year ended 31 March 2025

The directors present their strategic report of the company for the period ended 31 March 2025. Operating and Financial Review The Financial year of 2025 marked a robust and profitable period for the Frankham Group of Companies, demonstrating strong financial and project delivery performances. All companies within the Frankham Group experienced growth, contributing to a resilient overall performance throughout the year. The Group has reported a Consolidated Turnover of £ 25.67m for 2025, an increase of 7.56% on 2024. On this Turnover, we generated a Profit before tax of £2.25m, a reduction of 3.01% from last year(£2.32m:2024). The following is a summary of the results of our Group companies : Frankham Consultancy Group Limited provides the following services: Architectural, Structural, and Civil Engineering Consultancy, Project Management, Building and Quality Surveying, Mechanical and Engineering design, Master planning, and CDM. Turnover in 2025 was £17.76m compared to £16.51m in 2024, an increase of 7.52%. Profits before tax reduced from £1.55m in 2024 to £0.75m in 2025. Frankham Risk Management Services Limited provides the following services: Asbestos Risk, Business Continuity, Commercial Performance, Gas and Electrical Risk, Strategic Risk, Water Risk Management, Fire Consultancy, Fire Risk assessment, and Occupational Health and Safety. Turnover was £ 4.98m in 2025 compared to £4.83m in 2024, an increase of 3.20%. Profit before Tax reduced by 27% from £595k in 2024 to £431k in 2025. Frankham Project Limited provides the following services: Development Consultancy, Management, and Town planning. Turnover in 2025 was £985k compared to £866k in 2024, an increase of 13.70%. Profits before tax reduced by 27% from £117k in 2024 to £85k in 2025. Lane and Frankham Limited provides the following services: Area Referencing and Property Management. Building Measurement, BIM Ready Surveys, Land Surveys, and Site Investigations. Turnover in 2025 was £3.18m compared to £ 3.03m in 2024, an increase of 4.97%. Profits before tax rose by 1.08% from £475k in 2024 to £481k in 2025. Robson Frankham Limited provides the following services: Fire Engineering, Design Analysis, External wall surveys, Fire Safety Site Inspections, and Fire strategies. Turnover in 2025 was £1.62m compared to £1.06m in 2024, an increase of 53.14%. Profits before tax increased by 69.98% from £328k in 2024 to £ 557k in 2025. We are currently in the process of budgeting with the goal of achieving a 20% increase in turnover for the current financial year. Our monthly management accounts consistently indicate sustained growth, and we are optimistic about meeting our forecasted figures. Throughout the year, our cash position remained robust, concluding at £3.25 million as of the year-end, compared to £1.84 million in 2024. This underscores our effective internal cash management practices and our ongoing commitment to prudently manage working capital and debtor accounts. The Group remains in a favourable cash position.

REVIEW OF BUSINESS The Frankham Group provides a full range of surveying, design, engineering, and consultancy to the built environment. We provide the majority of the core professional disciplines together with a number of specialist services to support all aspects of developing, constructing, upgrading, and maintaining property assets over a very diverse client base in both the public and private sectors. We consider our key performance indicators to be turnover, profitability, and cash reserves. 2024/25 was a successful year for the Group and exceeded our expectations. The year grew stronger as it went on both with existing and new clients providing a strong demand for our services. We exceeded our business plans and achieved a very positive year with consolidated turnover of 25.67m, with a profit before tax of £2.25m. The Group continues to be seen as a market leader in many of the areas we work. One key growth area has been in fire related consultancy following the tragic fire at Grenfell. Many businesses have avoided work in this area due to perceived risk, but we see our skilled professionals as a key part of the solution with our specialist services employed to inspect and report on issues, design and manage the remediation solutions as well as carrying out the regulatory requirements such as Fire Risk Assessments. Moving into 25/26, the Group are planning to achieve further growth in turnover of 10% with a further improvement in profitability.

PRINCIPAL RISKS AND UNCERTAINTIES The principal limiting factor on our sector has been the availability of skilled resources. However, we have managed this effectively by an effective management of supply chain.

RESERVES Retained reserves and other reserves of the group of £5,997,021 (2024: £4,890,100) at the year end.

CASHFLOW AND LIQUIDITY Cashflow was in line with the expectations, with a cash and cash equivalents at end of period of £3,249,244 (2024: £1,839,352). The net current asset ratio is 1.94 at the year end.

This report was approved by the board of directors on 16 October 2025 and signed on behalf of the board by:

Mr S J FRANKHAM

Director

Registered office:

Irene House Five Arches Business Centre

Maidstone Road

Sidcup

England

DA14 5AE

FRANKHAM NATIONAL LIMITED

Directors' Report

Year ended 31 March 2025

The directors present their report and the financial statements of the group for the year ended 31 March 2025 .

Directors

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

Mr S J FRANKHAM
Mr R J CHITTY

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Directors' responsibilities statement

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 group and the company and 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 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.

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 group and 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 group and the company's auditor is aware of that information.

This report was approved by the board of directors on 16 October 2025 and signed on behalf of the board by:

Mr S J FRANKHAM

Director

Registered office:

Irene House Five Arches Business Centre

Maidstone Road

Sidcup

England

DA14 5AE

FRANKHAM NATIONAL LIMITED

Independent Auditor's Report to the Members of FRANKHAM NATIONAL LIMITED

Year ended 31 March 2025

Opinion

We have audited the financial statements of FRANKHAM NATIONAL LIMITED (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows 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 group's and of the parent company's affairs as at 31 March 2025 and of the group's 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 group 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

The accounts have been prepared on a going concern basis. Having carried out a detailed review of the company's resources and challenges presented by the current economic climate, the directors are satisfied that the company has sufficient cashflows to meet its liabilities as they fall due for at least one year from the date of the approval of the accounts.

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 group and the parent 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 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.

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 group's and 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 group or the parent 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: Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to those laws which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and tax legislation. We evaluated management's opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and potential management bias towards accounting estimates. Audit procedures included discussions with management, challenging assumptions made by management in their significant accounting estimates and identifying and testing journal entries posted with unusual account combinations. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, less likely we would become aware of it. Also, the risk of not detecting a material fraud is higher than the risk of not detecting one resulting from error, as fraud may be deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities for the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

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

K M Wyatt FCA

(Senior Statutory Auditor)

For and on behalf of

Wyatts

Chartered accountants & statutory auditor

York House

1 Seagrave Road

London

SW6 1RP

16 October 2025

FRANKHAM NATIONAL LIMITED

Consolidated Statement of Comprehensive Income

Year ended 31 March 2025

			Period from
		Year to	14 Mar 23 to
		31 Mar 25	31 Mar 24
Note		£	£
Turnover	4	25,674,753	23,869,434

Cost of sales	15,885,355	15,000,157
	-------------	-------------
Gross profit	9,789,398	8,869,277

Administrative expenses		7,591,473	6,652,139
		------------	------------
Operating profit	5	2,197,925	2,217,138

Other interest receivable and similar income	9	73,633	111,478
Interest payable and similar expenses	10	16,654	12,640
		------------	------------
Profit before taxation		2,254,904	2,315,976

Tax on profit	11	587,088	442,546
		------------	------------
Profit for the financial year and total comprehensive income		1,667,816	1,873,430
		------------	------------

Profit for the financial year attributable to:

The owners of the parent company	1,220,921	1,489,787
Non-controlling interests	446,895	383,643
	------------	------------
	1,667,816	1,873,430
	------------	------------

All the activities of the group are from continuing operations.

FRANKHAM NATIONAL LIMITED

Consolidated Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	13	386,130	424,830

Current assets

Debtors	15	9,720,206	8,591,384
Cash at bank and in hand		3,249,244	1,839,352
		-------------	-------------
		12,969,450	10,430,736

Creditors: amounts falling due within one year	16	6,328,059	5,371,744
		-------------	-------------
Net current assets		6,641,391	5,058,992
		------------	------------
Total assets less current liabilities		7,027,521	5,483,822

Provisions	18	75,142	85,259
		------------	------------
Net assets		6,952,379	5,398,563
		------------	------------

Capital and reserves

Called up share capital	21	97,265	97,265
Other reserves, including the fair value reserve	22	3,498,579	3,498,579
Profit and loss account	22	2,498,442	1,391,521
		------------	------------
Equity attributable to the owners of the parent company		6,094,286	4,987,365

Non-controlling interests	858,093	411,198
	------------	------------
	6,952,379	5,398,563
	------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 16 October 2025 , and are signed on behalf of the board by:

Mr S J FRANKHAM

Director

Company registration number: 14729645

FRANKHAM NATIONAL LIMITED

Company Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Investments	14	97,265	97,265

Current assets

Debtors	15	309,531	195,531

Creditors: amounts falling due within one year	16	309,531	195,531
		--------	--------
Total assets less current liabilities		97,265	97,265
		--------	--------

Capital and reserves

Called up share capital	21	97,265	97,265
		--------	--------
Shareholders funds		97,265	97,265
		--------	--------

The profit for the financial year of the parent company was £ 114,000 (2024: £ 98,266 ).

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 16 October 2025 , and are signed on behalf of the board by:

Mr S J FRANKHAM

Director

Company registration number: 14729645

FRANKHAM NATIONAL LIMITED

Consolidated Statement of Changes in Equity

Year ended 31 March 2025

		Called up share capital	Other reserves, including the fair value reserve	Profit and loss account	Equity attributable to the owners of the parent company	Non-controlling interests	Total
		£	£	£	£	£	£
Prior period adjustments		–	3,498,579	–	3,498,579	–	3,498,579
		----	------------	----	------------	----	------------
At 14 March 2023 (restated)		–	3,498,579	–	3,498,579	–	3,498,579
		----	------------	----	------------	----	------------

Profit for the year				1,489,787	1,489,787	411,198	1,900,985
		----	------------	------------	------------	---------	------------
Total comprehensive income for the year		–	–	1,489,787	1,489,787	411,198	1,900,985

Issue of shares		97,265	–	–	97,265	–	97,265
Dividends paid and payable	12	–	–	( 98,266)	( 98,266)	–	( 98,266)
		--------	------------	------------	------------	---------	------------
Total investments by and distributions to owners		97,265	–	( 98,266)	( 1,001)	–	( 1,001)

At 31 March 2024		97,265	3,498,579	1,391,521	4,987,365	411,198	5,398,563

Profit for the year				1,220,921	1,220,921	446,895	1,667,816
		--------	------------	------------	------------	---------	------------
Total comprehensive income for the year		–	–	1,220,921	1,220,921	446,895	1,667,816

Dividends paid and payable	12	–	–	( 114,000)	( 114,000)	–	( 114,000)
		----	----	---------	---------	----	---------
Total investments by and distributions to owners		–	–	( 114,000)	( 114,000)	–	( 114,000)

		--------	------------	------------	------------	---------	------------
At 31 March 2025		97,265	3,498,579	2,498,442	6,094,286	858,093	6,952,379
		--------	------------	------------	------------	---------	------------

FRANKHAM NATIONAL LIMITED

Company Statement of Changes in Equity

Year ended 31 March 2025

		Called up share capital	Profit and loss account	Total
		£	£	£
At 14 March 2023		–	–	–

Profit for the year			98,266	98,266
		----	--------	--------
Total comprehensive income for the year		–	98,266	98,266

Issue of shares		97,265	–	97,265
Dividends paid and payable	12	–	( 98,266)	( 98,266)
		--------	--------	--------
Total investments by and distributions to owners		97,265	( 98,266)	( 1,001)

At 31 March 2024		97,265	–	97,265

Profit for the year			114,000	114,000
		--------	---------	---------
Total comprehensive income for the year		–	114,000	114,000

Dividends paid and payable	12	–	( 114,000)	( 114,000)
		----	---------	---------
Total investments by and distributions to owners		–	( 114,000)	( 114,000)

		--------	---------	---------
At 31 March 2025		97,265	–	97,265
		--------	---------	---------

FRANKHAM NATIONAL LIMITED

Consolidated Statement of Cash Flows

Year ended 31 March 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	1,667,816	1,873,430

Adjustments for:
Depreciation of tangible assets	221,381	107,988
Other interest receivable and similar income	( 73,633)	( 111,478)
Interest payable and similar expenses	16,654	12,640
Tax on profit	587,088	442,546

Changes in:
Trade and other debtors	( 1,155,944)	( 8,591,384)
Trade and other creditors	1,384,786	5,371,744
	------------	------------
Cash generated from operations	2,648,148	( 894,514)

Interest paid	( 16,654)	( 12,640)
Interest received	73,633	111,478
Tax paid	( 658,935)	( 365,270)
	------------	------------
Net cash from/(used in) operating activities	2,046,192	( 1,160,946)
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 182,681)	( 184,555)
Acquisition of subsidiaries	–	3,053,224
	------------	------------
Net cash (used in)/from investing activities	( 182,681)	2,868,669
	------------	------------

Cash flows from financing activities

Proceeds from borrowings	( 329,134)	291,498
Payments of finance lease liabilities	( 10,485)	( 61,603)
Dividends paid	( 114,000)	( 98,266)
	------------	------------
Net cash (used in)/from financing activities	( 453,619)	131,629
	------------	------------

Net increase in cash and cash equivalents	1,409,892	1,839,352
Cash and cash equivalents at beginning of year	1,839,352	–
	------------	------------
Cash and cash equivalents at end of year	3,249,244	1,839,352
	------------	------------

FRANKHAM NATIONAL LIMITED

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Irene House Five Arches Business Centre, Maidstone Road, Sidcup, DA14 5AE, England.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of FRANKHAM NATIONAL LIMITED and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Non-controlling interests

Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination.

The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Amounts recoverable on long term contracts, which are included in debtors as accrued income, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as deferred income. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	33% reducing balance
Fixtures and fittings	-	At variable rates on reducing balance

Investments

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

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Rendering of services	25,674,753	23,869,434
	-------------	-------------

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

5. Operating profit

Operating profit or loss is stated after charging/crediting:

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Depreciation of tangible assets	221,381	107,988
Impairment of trade debtors	11,004	(53,820)
	---------	---------

6. Auditor's remuneration

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Fees payable for the audit of the financial statements	44,004	47,504
	--------	--------

7. Staff costs

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

	2025	2024
	No.	No.
Production staff	154	149
Administrative staff	11	8
Management staff	46	46
	----	----
	211	203
	----	----

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

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Wages and salaries	11,531,414	10,354,033
Social security costs	1,329,591	1,215,773
Other pension costs	761,383	637,477
	-------------	-------------
	13,622,388	12,207,283
	-------------	-------------

8. Directors' remuneration

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

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Remuneration	300,555	302,029
Company contributions to defined contribution pension plans	36,298	151,394
	---------	---------
	336,853	453,423
	---------	---------

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

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Aggregate remuneration	172,667	161,000
	---------	---------

9. Other interest receivable and similar income

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Interest on bank deposits	29,363	56,334
Other interest receivable and similar income	44,270	55,144
	--------	---------
	73,633	111,478
	--------	---------

10. Interest payable and similar expenses

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Interest on obligations under finance leases and hire purchase contracts	2,774	8,417
Other interest payable and similar charges	13,880	4,223
	--------	--------
	16,654	12,640
	--------	--------

11. Tax on profit

Major components of tax expense

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£

Current tax:

UK current tax income	597,205	554,905
Adjustments in respect of prior periods	–	( 136,241)
	---------	---------
Total current tax	597,205	418,664
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 10,117)	23,882
	---------	---------
Tax on profit	587,088	442,546
	---------	---------

Reconciliation of tax expense

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

		Period from
	Year to	14 Mar 23 to
	31 Mar 25	31 Mar 24
	£	£
Profit on ordinary activities before taxation	2,254,904	2,315,976
	------------	------------
Profit on ordinary activities by rate of tax	563,726	666,459
Adjustment to tax charge in respect of prior periods	–	( 136,241)
Effect of expenses not deductible for tax purposes	19,149	( 88,022)
Effect of capital allowances and depreciation	( 5,904)	( 23,532)
Other tax adjustment to increase/(decrease) tax liability - desc in a/cs	10,117	23,882
	------------	------------
Tax on profit	587,088	442,546
	------------	------------

12. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	114,000	98,266
	---------	--------

13. Tangible assets

Group	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2024	129,284	3,013,096	3,142,380
Additions	72,160	125,823	197,983
Other movements	( 15,302)	–	( 15,302)
	---------	------------	------------
At 31 March 2025	186,142	3,138,919	3,325,061
	---------	------------	------------
Depreciation
At 1 April 2024	59,904	2,657,646	2,717,550
Charge for the year	34,818	186,563	221,381
	---------	------------	------------
At 31 March 2025	94,722	2,844,209	2,938,931
	---------	------------	------------
Carrying amount
At 31 March 2025	91,420	294,710	386,130
	---------	------------	------------
At 31 March 2024	69,380	355,450	424,830
	---------	------------	------------

The company has no tangible assets.

14. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	97,265
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 1 April 2024 and 31 March 2025	97,265
	--------
At 31 March 2024	97,265
	--------

The group or the company's investments at the balance sheet date in the share capital of companies include the following:

Subsidiaries

Frankham Consultancy Group Limited

Registered office: Irene House , 7b five Arches Business Park , Maidstone Road , Sidcup DA14 5AE

Nature of business: Building Development Consultancy

			% holding
	Class of shares
	Ordinary		100

	2025	2024
	£	£
Aggregate Capital and reserves	4,510,439	4,077,581
Profit for the year	546,858	1,461,164

Frankham Projects Limited

Registered office: Irene House, 7b Five Arches Business Park, Maidstone Road, Sidcup, DA14 5AE

Nature of business: Building development consultancy

			% holding
			£
	Class of shares
	Ordinary		75

	2025	2024
	£	£
Aggregate capital and reserves	203,237	140,201
Profit for the year	63,036	86,988

Frankham Risk Management Services Limited

Registered office: Irene House, 7b Five Arches Business Park, Maidstone Road, Sidcup, DA14 5AE

Nature of business: Management Services

		% holding
	Class of shares
	Ordinary shares	75

	2025	2024
	£	£
Aggregate capital and reserves	871,713	548,842
Profit for the year	322,871	475,745

Lane and Frankham Limited

Registered office: Irene House, 7b Five Arches Business Park, Maidstone Road, Sidcup, DA14 5AE

Nature of business: Building development consultancy

		% holding
	Class of shares
	Ordinary	75

	2025	2024
	£	£
Aggregate capital and reserves	756,475	392,117
Profit for the year	364,358	356,610

Robson Frankham Limited

Registered office: Irene House, 7b Five Arches Business Park, Maidstone Road, Sidcup, DA14 5AE

Nature of business: Building development

		% holding
	Class of shares
	Ordinary	38

	2025	2024
	£	£
Aggregate capital and reserves	640,379	225,453
Profit for the year	414,926	246,092

This entity is 50% owned by Frankham Risk Management Services Limited and the Frankham National Ltd's effective ownership interest in it is 38%. Robson and Frankham is fully consolidated within the Group financial statements because the Group, through its subsidiary Frankham Risk Management Services Ltd, exercises control over Robson and Frankham Ltd. Frankham Risk Management Services Ltd has power to govern Robson and Frankham Ltd's financial and operating policies by virtue of controlling rights set out in the shareholders' agreement.

15. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	4,625,985	3,672,604	–	–
Amounts owed by group undertakings	–	–	212,266	98,266
Prepayments and accrued income	2,450,278	1,933,146	–	–
Other debtors	2,643,943	2,985,634	97,265	97,265
	------------	------------	---------	---------
	9,720,206	8,591,384	309,531	195,531
	------------	------------	---------	---------

16. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	957,104	653,845	–	–
Amounts owed to group undertakings	–	–	97,265	97,265
Accruals and deferred income	2,929,643	2,143,834	–	–
Corporation tax	493,175	554,905	–	–
Social security and other taxes	1,608,681	1,359,742	–	–
Obligations under finance leases and hire purchase contracts	–	10,485	–	–
Director loan accounts	257,569	586,703	–	–
Other creditors	81,887	62,230	212,266	98,266
	------------	------------	---------	---------
	6,328,059	5,371,744	309,531	195,531
	------------	------------	---------	---------

17. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	–	10,485	–	–
	----	--------	----	----

18. Provisions

Group	Deferred tax (note 19)
	£
At 1 April 2024	85,259
Additions	8,950
Charge against provision	( 19,067)
	--------
At 31 March 2025	75,142
	--------

The company does not have any provisions.

19. Deferred tax

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

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 18)	75,142	85,259	–	–
	--------	--------	----	----

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

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	75,142	85,259	–	–
	--------	--------	----	----

20. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 652,252 (2024: £ 538,330 ).

21. Called up share capital

Issued and called up

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	97,265	97,265	97,265	97,265
	--------	--------	--------	--------

Shares issued and partly paid

	2025		2024
	No.	£	No.	£
Ordinary shares - £– paid of £ 1 each	97,265	–	97,265	–
	--------	----	--------	----

22. Reserves

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

		Retained earnings	Total
		£	£

At 1 April 2024	1,391,521	1,391,521
Profit for the year	1,220,921	1,220,921
Other reserves	3,498,579	3,498,579
Dividends	(114,000)	(114,000)
At 31 March 2025	5,997,021	5,997,021

23. Analysis of changes in net debt

	At 1 Apr 2024	Cash flows	At 31 Mar 2025
	£	£	£
Cash at bank and in hand	1,839,352	1,409,892	3,249,244
Debt due within one year	(597,188)	339,619	(257,569)
	------------	------------	------------
	1,242,164	1,749,511	2,991,675
	------------	------------	------------

24. Related party transactions

Company

Balances and transactions between the Company and the subsidiaries, which are related parties, are listed below.

	Balance at 31 March 2025	Movements in 2025	Balance at 31 March 2024	Movements in 2024	Balance at 13 March 2023
	£	£	£	£
Frankham Consultancy Group Limited	212,266	114,000	98,266	98,266	–
Frankham Consultancy Group	(212,266)	(114,000)	(98,266)	(98,299)	–

25. Controlling party

The Ultimate controlling party is S J Frankham Esq.