The JR Group Holdings Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—7
Consolidated Profit and Loss Account	8
Consolidated Statement of Comprehensive Income	9
Consolidated Balance Sheet	10—11
Company Balance Sheet	12
Consolidated Statement of Changes in Equity	13
Consolidated Statement of Cash Flows	14
Notes to the Consolidated Statement of Cash Flows	15
Notes to the Financial Statements	16—27

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

Review of the Business

The group as an entity has performed well this year. In the year to 30 September 2025 the group showed an overall profit of £816,414.

We remain focused on a partnership approach with our customers and continue to endorse this to our staff and dedicated supply chain. We are now operating with a number of new customers, with excellent long-term relationships being formed.

The introduction of key staff during this year is also now having a bearing on the group, with a strong future order book forecast.

We are very proud of our staff and are fully committed to the development and further training of all with an ongoing investment in apprenticeships within our industry.

FINANCIAL REVIEW AND KEY PERFORMANCE INDICATORS

New business commenced this trading year is very encouraging, as we bolster our growing reputation in the marketplace. Geographically we are also expanding with the group now operating out with or traditional core areas. Our order book is very strong with forecasted business now approaching 4 years, with continued growth year on year anticipated.

The gross profit margin has increased from 8.8% in 2024 to 13.6% in 2025. The group also increased its net current assets from £1,303,946 to £2,130,619. The group believes it is in a strong position as it has no external loans.

As we can see from the Consolidated Statement of Comprehensive Income on page 9 and 10 the turnover has decreased to £25,317,239 (2024 - £31,245,770). Profit before taxation has increased to £816,414 (2024 -£495,962 ) resulting in an increase in net assets to £4,231,740 (2024 - £3,415,324). This can be

Principal Risks and Uncertainties

The group believes that with its subsidiary's providing the manufacture and erection of timber frame housing and also a pool of joinery subcontractors then it is in a strong position to mitigate and supply chain pressures and labour market challenges.

The directors convene board meetings on a monthly basis with monthly management meetings to review all existing contacts and also potential future contracts. At these meetings the principal risks and uncertainties affecting the group are discussed at length and procedures are put in place to manage and minimise these on an ongoing basis.

Financial stability and growth of the group remains a key area that our finance team review monthly to ensure we manage the diverse nature of our business. We have adequate cash reserves and no debt to ensure the groups remains in a strong financial position, to enable it to meet the aspirations of the board and fulfil our place in the industry.

GOING CONCERN

All the risks and uncertainties detailed above will have consequences to the future trading of the Group. The Directors of the Group have prepared the accounts on a going concern basis as the group financial resources and secured workload will support this course of action.

In the opinion of the Directors the Group will continue in the foreseeable future and it is appropriate to prepare the financial statements on a going concern basis.

Future Developments

On behalf of the board

G McGregor

Director

23/12/2025

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The JR Group Holdings Limited

Company No. SC534946

Directors' Report For The Year Ended 30 September 2025

Directors' Report

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

Principal Activity

The group's principal activity continues to be that of construction.

The company's principal activity was that of a holding company.

Dividends

These distributable interim dividends of £nil (2024 - £nil) were paid during the year.

The profit for the year, after tax and minority interests, amounted to £816,414 (2024 - £495,962).

Financial Instruments

Credit risk

The group's main credit risk is from credit sales and make extensive credit risk assessments of any new customers befor entering into a contract. The group actively monitor customer debtto ensure the risk of exposure to any loss on contracts is minimised.

Liquidity risk

Liquidity risk arises from the group's management of working capital. It is the risk that the group could encounter

difficulty in meeting its financial obligations as they fall due. The directors regularly review cashflow projections to ensure working capital is appropriately managed throughout the group.

DONATIONS

The group made donations to local charities totalling £8,350 (2024 - £6,770) in the year to 30 September 2025.

GOING CONCERN

As we can see from the Consolidated Statement of Comprehensive Income on page 10 and 11 the turnover has decreased to £25,317,239 (2024 - £31,245,770). Profit before taxation has increased to £816,414 (2024 - £495,962) resulting in a increase in net assets to £4,231,740 (2024 - £3,415,324). The directors consider that these resources, together with the current order book, sufficient to meet the needs of the business for at least the next 12 months from the date of these financial statements and have prepared these financial statements on a going concern basis as a result.

Directors

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

J Horne

A D Dallas

G McGregor

Post Balance Sheet Events

There have been no significant events affecting the group since the year end.

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

...CONTINUED

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The JR Group Holdings Limited

Directors' Report (continued)

For The Year Ended 30 September 2025

Statement of Directors' Responsibilities - continued

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

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

Statement of Disclosure of Information to Auditors

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

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

Independent Auditors

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

On behalf of the board

G McGregor

Director

23/12/2025

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Independent Auditor's Report

to the Members of

The JR Group Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of The JR Group Holdings Limited (the "parent company") and its subsidiaries (the "group") for the year ended 30 September 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

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

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

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

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

The JR Group Holdings Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and 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 or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

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

In preparing the financial statements, the directors are responsible for assessing the group and 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.

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Independent Auditor's Report (continued)

to the Members of

The JR Group Holdings Limited

Auditor's Responsibilities for the Audit of the Financial Statements

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

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

•We enquired of the directors of the companies policies and procedures to detect fraud as well as whether they have knowledge of any actual, suspected or alleged fraud

•Using analytical procedures to identify any unusual or unexpected transactions

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

As required by auditing standards we perform procedures to address the risk of management override of controls and in particular that the company management may be in a position to make inappropriate accounting entries and the risk of bias in accounting estimates and judgements such as provision for bad debts, accruals, prepayments and depreciation. On this audit we do not believe there is a fraud risk related to revenue recognition because the revenue is by certified valuations from qualified surveyors, non complex and does not contain estimation uncertainty.

We did not identify any additional fraud risks

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

We also performed procedures including:

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

•Assessing significant accounting estimates for bias

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

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

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

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

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

Firstly, the entity is subject to very strict laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation) and we assessed the extent of the compliance with these laws and regulations as part of our procedures on the related.

Secondly, the entity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements.

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

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

Context of the ability of the audit to detect fraud or breaches of laws and regulations

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatement in the financial statements, even though we had properly planned and performed our audi in accordance with accounting standards. For example the further removed non-compliance with laws and regulations from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standard would identify it.

In addition, with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement.We are not responsible for for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations

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

Use Of Our Report

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

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Independent Auditor's Report (continued)

to the Members of

The JR Group Holdings Limited

Craig M Fotheringham CA BSc (Senior Statutory Auditor)

for and on behalf of The Kelvinpartnership Ltd , Statutory Auditor

23/12/2025

The Kelvinpartnership Ltd

505 Great Western Road

Glasgow

G12 8HN

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The JR Group Holdings Limited

Consolidated Profit and Loss Account

For The Year Ended 30 September 2025

Consolidated Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		25,317,239	33,962,555
Cost of sales		(21,853,426 )	(31,221,037 )

GROSS PROFIT		3,463,813	2,741,518

Administrative expenses		(2,391,152 )	(2,057,052 )

OPERATING PROFIT	3	1,072,661	684,466
(Loss)/profit on disposal of fixed assets		(47,749 )	11,553
Other interest receivable and similar income	8	757	712
Interest payable and similar charges	9	(12,643 )	(12,157 )

PROFIT BEFORE TAXATION		1,013,026	684,574
Tax on Profit	10	(196,612 )	(188,612 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		816,414	495,962


Profit attributable to:
Owners of the parent		936,665	564,826
Non-controlling interest		(120,251)	(68,864)

		816,414	495,962

The notes on pages 15 to 27 form part of these financial statements.

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The JR Group Holdings Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 30 September 2025

Consolidated Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	816,414	495,962
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	816,414	495,962


Total comprehensive income attributable to:
Owners of the parent	936,665	564,826
Non-controlling interest	(120,251)	(68,864)

	816,414	495,962

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The JR Group Holdings Limited

Consolidated Balance Sheet

As At 30 September 2025

Consolidated Balance Sheet

Registered number: SC534946

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11		639,549		536,775
Investments	12		1,691,379		1,691,379

			2,330,928		2,228,154
CURRENT ASSETS
Stocks	13	2,392,860		2,690,588
Debtors	14	7,334,551		4,804,049
Cash at bank and in hand		1,199,159		3,526,333

		10,926,570		11,020,970
Creditors: Amounts Falling Due Within One Year	15	(8,795,953 )		(9,717,024 )

NET CURRENT ASSETS (LIABILITIES)			2,130,617		1,303,946

TOTAL ASSETS LESS CURRENT LIABILITIES			4,461,545		3,532,100

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

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

NET ASSETS			4,231,737		3,415,323

CAPITAL AND RESERVES
Called up share capital	20		500		500
Profit and Loss Account			4,356,692		3,420,027

Equity attributable to owners of the parent			4,357,192		3,420,527
Non-controlling interest			(125,455 )		(5,204 )

TOTAL EQUITY			4,231,737		3,415,323

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The JR Group Holdings Limited

Consolidated Balance Sheet (continued)

As At 30 September 2025

On behalf of the board

G McGregor

Director

23/12/2025

The notes on pages 15 to 27 form part of these financial statements.

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The JR Group Holdings Limited

Company Balance Sheet

As At 30 September 2025

Company Balance Sheet

Registered number: SC534946

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	12		206,344		206,344

			206,344		206,344
CURRENT ASSETS
Debtors	14	121,715		125,715
Cash at bank and in hand		428		428

		122,143		126,143
Creditors: Amounts Falling Due Within One Year	15	(39,000 )		(39,000 )

NET CURRENT ASSETS (LIABILITIES)			83,143		87,143

TOTAL ASSETS LESS CURRENT LIABILITIES			289,487		293,487

NET ASSETS			289,487		293,487

CAPITAL AND RESERVES
Called up share capital	20		500		500
Profit and Loss Account			288,987		292,987

SHAREHOLDERS' FUNDS			289,487		293,487

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's loss for the year was £(4,000 ) (2024: £(4,013 ) loss).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

G McGregor

Director

23/12/2025

The notes on pages 15 to 27 form part of these financial statements.

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The JR Group Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 30 September 2025

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total Attributable to Parent	Non-controlling interest	Total
	£	£	£	£	£
As at 1 October 2023	500	2,855,201	2,855,701	63,660	2,919,361
Profit for the year and total comprehensive income	-	564,826	564,826	(68,864 )	495,962

As at 30 September 2024 and 1 October 2024	500	3,420,027	3,420,527	(5,204 )	3,415,323


Profit for the year and total comprehensive income	-	936,665	936,665	(120,251 )	816,414

As at 30 September 2025	500	4,356,692	4,357,192	(125,455 )	4,231,737

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The JR Group Holdings Limited

Consolidated Statement of Cash Flows

For The Year Ended 30 September 2025

Consolidated Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(2,173,246 )	2,714,404
Interest paid		(12,643 )	(12,154 )
Tax paid		(70,212 )	(143,050 )

Net cash (used in)/generated from operating activities		(2,256,101 )	2,559,200

Cash flows from investing activities
Purchase of tangible assets		(256,298 )	(86,170 )
Proceeds from disposal of tangible assets		96,551	11,549
Interest received		757	712

Net cash used in investing activities		(158,990 )	(73,909 )

Cash flows from financing activities
Repayment of bank borrowings		(859 )	(5,045 )
Repayment of finance leases		88,776	4,856

Net cash generated from/(used in) financing activities		87,917	(189 )



(Decrease)/increase in cash and cash equivalents		(2,327,174 )	2,485,102
Cash and cash equivalents at beginning of year	2	3,526,333	1,041,231

Cash and cash equivalents at end of year	2	1,199,159	3,526,333

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The JR Group Holdings Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 30 September 2025

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2025	2024
	£	£
Profit for the financial year	816,414	495,962
Adjustments for:
Tax on profit	196,612	188,612
Interest expense	12,643	12,157
Interest income	(757 )	(712 )
Depreciation of tangible assets	9,224	46,221
Loss/(profit) on disposal of tangible assets	47,749	(11,553)
Movements in working capital:
Decrease in stocks	297,728	845,208
Increase in trade and other debtors	(2,530,502 )	(395,254 )
(Decrease)/increase in trade and other creditors	(1,022,357 )	1,533,763

Net cash (used in)/generated from operations	(2,173,246 )	2,714,404

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	1,199,159	3,526,333

3. Analysis of changes in net funds

	As at 1 October 2024	Cash flows	As at 30 September 2025
	£	£	£
Cash at bank and in hand	3,526,333	(2,327,174)	1,199,159
Finance leases	(135,739)	(88,776)	(224,515)
Debts falling due within one year	(859 )	859	-

	3,389,735	(2,415,091)	974,644

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The JR Group Holdings Limited

Notes to the Financial Statements

For The Year Ended 30 September 2025

Notes to the Financial Statements

1. General Information

The JR Group Holdings Limited is a private company, limited by shares, incorporated in Scotland, registered number SC534946 . The registered office is Cardea House, 5 Sandyford Rroad , Paisley, PA3 OTH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The preparation of financial statement in compliance with FRS102 requires the use of certain critical accounting estimate. It also requires management to exercise judgement in applying the companies accounting policies (see Note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The functional and presentation currency is GPB and these accounts are rounded to the nearest pound.

The following principal accounting policies have been applied:

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 30 September 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group 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. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

2.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

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The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.4. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the group and parent company's ability to continue as a going concern.

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

As we can see from the Consolidated Statement of Comprehensive Income on page 9 and 10 the groups turnover has decreased to £25,317,239 (2024 - £31,245,770). Profit before taxation has increased to £816,414 (2024 - £495,962) resulting in an increase in net assets to £4,231,740 (2024 - £3,415,324). The directors consider that these resources, together with the current order book, sufficient to meet the needs of the business for at least the next 12 months from the date of these financial statements and have prepared these financial statements on a going concern basis as a result.

2.5. Significant judgements and estimations

In the application of the groups accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Estimates

Tangible fixed assets

The useful economic life of the fixed assets and the depreciation rate applied.

Whether there are indicators of impairment of tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

Contract Accounting

The amount of profit to be recognised on individual contracts. Factors considered will include stage of completion and forecast outturn

Judgements

Trade debtors

Whether any bad debt provision is required via review of trade debtors, with debts provided for on a specific basis.

Stock and Work in progress

Whether stock is carried at the lower of cost or net realisable value. Due to the nature of the stock (development land), the net realisable value is an area of estimation.

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

2.6. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and that the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. The following criteria must also be met before turnover is recognised.

Contract valuations

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

• the amount of turnover can be measured reliably

• it is probable that the company will receive the consideration due under the contract;

• the stage of completion of the contract at the end of the reporting period can be measured reliably; and

• the costs incurred and the costs to complete the contract can be measured reliably

• Payments on account received, which are not fully matched by attributable costs and recognised profit

• Known and anticipated losses on contracts.

These provisions are separately disclosed in current liabilities

Full provision is made for: payments on account received, which are not fully matched by attributable costs and recognised profits and known and anticipated losses.

Page 17

Page 18

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.7. Tangible Fixed Assets and Depreciation

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

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

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

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

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

Depreciation is provided on the following basis:

Freehold	Nil
Plant & Machinery	15% Reducing balance
Motor Vehicles	20% Reducing balance
Fixtures & Fittings	33% Reducing balance
Computer Equipment	33% Straightline

2.8. Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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

2.9. Leasing and Hire Purchase Contracts

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

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

2.10. Stocks and Work in Progress

Development land is valued at historical cost.

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

2.11. Cash and Cash Equivalents

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

Page 18

Page 19

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.12. Financial Instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

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

Basic financial assets

Basic financial assets, 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 is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive Income.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity 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.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price and 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.

2.13. Taxation

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

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

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

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

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

Page 19

Page 20

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.14. Provisions and Contingencies

Provisions

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

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

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

Contingencies

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

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

2.15. Pensions

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

2.16. Trade debtors

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

Creditors

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

Holiday pay accrual

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

3. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Depreciation of tangible fixed assets	9,224	46,221

4. Auditor's Remuneration

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

	2025	2024
	£	£
Audit Services
Audit of the group and company's financial statements	20,000	19,000


Other Services
Other non-audit services	5,000	4,000

Page 20

Page 21

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

5. Staff Costs

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

	2025	2024
	£	£
Wages and salaries	2,728,040	2,405,113
Social security costs	296,744	249,480
Other pension costs	144,392	141,275

	3,169,176	2,795,868

6. Average Number of Employees

Group

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

	2025	2024
Office and administration	7	7
Construction	51	48

	58	55

Company

Average number of employees, including directors, during the year was: NIL (2024: NIL)

7. Directors' remuneration

	2025	2024
	£	£
Emoluments	240,433	216,600
Company contributions to money purchase pension schemes	100,053	99,521

	340,486	316,121

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

	2025		2024
Money purchase pension schemes	3		3

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	97,000	97,000
Company contributions to defined benefit pension schemes	1,321	1,321

	98,321	98,321

8. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	757	712

Page 21

Page 22

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	4,213	2,281
Finance charges payable under finance leases and hire purchase contracts	8,430	9,876

	12,643	12,157

10. Tax on Profit

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

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


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


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			1,013,026	684,574

Tax on profit at 25% (UK standard rate)			253,257	171,144
Goodwill/depreciation not allowed for tax			2,305	11,555
Expenses not deductible for tax purposes			82,512	12,982
Capital allowances			(39,937 )	(21,524 )
Short term timing differences			19,159	14,455
Prior period adjustment			(103,955 )	-
Group relief			(16,729 )	-

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

Page 22

Page 23

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

11. Tangible Assets

Group

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 October 2024	360,000	112,930	213,331	66,993
Additions	-	-	256,298	-
Disposals	-	-	(183,452 )	-

As at 30 September 2025	360,000	112,930	286,177	66,993

Depreciation
As at 1 October 2024	-	112,804	42,638	66,289
Provided during the period	-	126	4,977	704
Disposals	-	-	(39,152 )	-

As at 30 September 2025	-	112,930	8,463	66,993

Net Book Value
As at 30 September 2025	360,000	-	277,714	-

As at 1 October 2024	360,000	126	170,693	704


	Computer Equipment	Total
	£	£
Cost
As at 1 October 2024	57,542	810,796
Additions	-	256,298
Disposals	-	(183,452 )

As at 30 September 2025	57,542	883,642

Depreciation
As at 1 October 2024	52,290	274,021
Provided during the period	3,417	9,224
Disposals	-	(39,152 )

As at 30 September 2025	55,707	244,093

Net Book Value
As at 30 September 2025	1,835	639,549

As at 1 October 2024	5,252	536,775

Company

The company had no tangible fixed assets as at 30 September 2025 or 30 September 2024.

Page 23

Page 24

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

12. Investments

Group

	Unlisted
	£
Cost or Valuation
As at 1 October 2024	1,691,379

As at 30 September 2025	1,691,379

Provision
As at 1 October 2024	-

As at 30 September 2025	-

Net Book Value
As at 30 September 2025	1,691,379

As at 1 October 2024	1,691,379

Company

	Unlisted
	£
Cost or Valuation
As at 1 October 2024	206,344

As at 30 September 2025	206,344

Provision
As at 1 October 2024	-

As at 30 September 2025	-

Net Book Value
As at 30 September 2025	206,344

As at 1 October 2024	206,344

Subsidiaries

Details of the group's subsidiaries as at 30 September 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
JR Construction (Scotland) Ltd	Cardea House, 5 Sandyford Road, Paisley PA3 4HP	Ordinary	100.00%	-
JR Specialist Services Ltd	Cardea House, 5 Sandyford Road, Paisley PA3 4HP	Ordinary	95.00%	-
DC Timber Systems Ltd	Cardea House, 5 Sandyford Road, Paisley PA3 4HP	Ordinary	70.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
JR Construction (Scotland) Ltd	4,388,775	980,056
JR Specialist Services Ltd	(5,671 )	13,978
DC Timber Systems Ltd	(399,893 )	(173,618 )

Page 24

Page 25

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

Associates

Details of the group's associates as at 30 September 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Sprinklers Scotland Ltd	Cardea House, 5 Sandyford Road, Paisley PA3 4HP	Ordinary	45.00%	-

13. Stocks

	2025	2024
	£	£
Stock	-	105,616
Work in progress	2,392,860	2,584,972

	2,392,860	2,690,588

Included within stock and work in progress is land under development of £2,155,266

14. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Due within one year
Trade debtors	4,516,811	2,280,605	-	-
Amounts recoverable on contracts	2,439,286	2,119,207	-	-
Amounts owed by group undertakings	-	-	121,715	125,715
Other debtors	378,454	404,237	-	-

	7,334,551	4,804,049	121,715	125,715

15. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	57,996	63,092	-	-
Trade creditors	2,174,992	2,832,366	-	-
Bank loans and overdrafts	-	859	-	-
Other creditors	6,012,378	5,058,532	38,000	38,000
Corporation tax	281,408	174,167	-	-
Taxation and social security	104,561	98,425	-	-
Accruals and deferred income	164,618	1,489,583	1,000	1,000

	8,795,953	9,717,024	39,000	39,000

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

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

Page 25

Page 26

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

17. Obligations Under Finance Leases and Hire Purchase

	Group
	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	57,996	63,092
Later than one year and not later than five years	166,519	72,647

	224,515	135,739

	224,515	135,739

18. Deferred Taxation

The provision for deferred tax is made up as follows:

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

19. Provisions for Liabilities

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

Balance at 30 September 2025	63,289	63,289

20. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
500 Ordinary Shares of £ 1.00 each	500	500

21. Pension Commitments

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

During the year the charge to the profit and loss account in respect of defined contribution schemes was £144,392 (2024: £141,275).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

22. Non-Controlling Interest

Non - controlling interest relates to the 30% shareholding in DC Timber Systems Ltd and the 5% shareholding in JR Specialist Services Ltd which are not owned by The JR Group Holdings Ltd.

Page 26

Page 27

The JR Group Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

23. Related Party Disclosures

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

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Key management personnel (including directors) received compensation of £NIL