Company No: 06436049 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	92,838		107,693
		92,838		107,693
Current assets
Stocks		15,000		13,885
Debtors
- due within one year	5	192,457		199,907
- due after more than one year	5	21,306		0
Cash at bank and in hand		268,675		382,790
		497,438		596,582
Creditors: amounts falling due within one year	6	( 497,387)		( 607,513)
Net current assets/(liabilities)		51		(10,931)
Total assets less current liabilities		92,889		96,762
Creditors: amounts falling due after more than one year	7	( 5,946)		( 24,503)
Provision for liabilities		( 10,992)		( 10,799)
Net assets		75,951		61,460
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		75,851		61,360
Total shareholder's funds		75,951		61,460

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Wright Construction (IOS) Limited (registered number: 06436049) were approved and authorised for issue by the Board of Directors on 21 December 2025. They were signed on its behalf by:

Mr M J Wright Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wright Construction (IOS) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is Scillonian Building Supplies, Porthmellon Industrial Estate, St Mary's, Isles of Scilly, TR21 0JY.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 - 10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	3 years straight line
Other property, plant and equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	51,483		51,483
At 31 March 2025	51,483		51,483
Accumulated amortisation
At 01 April 2024	51,483		51,483
At 31 March 2025	51,483		51,483
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	100,784		140,567		23,900		4,777		34,375		304,403
Additions	0		23,459		0		0		0		23,459
Disposals	0		( 44,080)		0		0		0		( 44,080)
At 31 March 2025	100,784		119,946		23,900		4,777		34,375		283,782
Accumulated depreciation
At 01 April 2024	96,314		59,263		7,334		3,590		30,209		196,710
Charge for the financial year	1,118		21,181		4,141		558		1,042		28,040
Disposals	0		( 33,806)		0		0		0		( 33,806)
At 31 March 2025	97,432		46,638		11,475		4,148		31,251		190,944
Net book value
At 31 March 2025	3,352		73,308		12,425		629		3,124		92,838
At 31 March 2024	4,470		81,304		16,566		1,187		4,166		107,693

5. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	10,894		97,364
Other debtors	181,563		102,543
	192,457		199,907
Debtors: amounts falling due after more than one year
Other debtors	21,306		0

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,000		10,000
Trade creditors	25,000		15,000
Amounts owed to Group undertakings	417,649		374,715
Taxation and social security	27,490		153,453
Obligations under finance leases and hire purchase contracts (secured)	0		4,442
Other creditors	17,248		49,903
	497,387		607,513

Finance lease and hire purchase liabilities are secured on the assets to which they relate.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	1,667		11,667
Other creditors	4,279		12,836
	5,946		24,503

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Balance outstanding brought forward	(30,307)		48,345
Amounts advanced	244,799		21,673
Amounts repaid	(93,600)		(100,325)
Balance outstanding at year end	120,892		(30,307)

The above loan is repayable on demand and interest is charged at a rate of 2.25%.

10. Ultimate controlling party

Parent Company:

Wright Group Limited

c/o Lowin House Tregolls Road TRURO TR1 2NA