REGISTERED NUMBER: 10626719 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025

FOR

GOBION CONSTRUCTION LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

P J Loftus

P Lynch

SECRETARY:

P J Loftus

REGISTERED OFFICE:

Arquen House

4-6 Spicer Street

St. Albans

Hertfordshire

AL3 4PQ

REGISTERED NUMBER:

10626719 (England and Wales)

AUDITORS:

Fusion Audit Limited

Statutory Auditors

Bridge House

25 Fiddlebridge Lane

Hatfield

Hertfordshire

AL10 0SP

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

The business model for the company is to win large building contracts whether in the public or private sector and then, by careful management of the project, to deliver a completed structure to a high standard on time and on budget.

In the past the company has completed significant parts of the Jubilee extension in London and currently is working on refitting docks.

REVIEW OF BUSINESS

During the year the company won the tender for a major project which has caused an increase in turnover. Careful management of the contract has resulted in the company maintaining margins and profitability.

The principal key financial performance indicators used by the company are turnover and gross margin. The turnover is targeted to increase whilst the gross margin is maintained.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties faced by the company are

the risk of not obtaining new work to replace existing contracts when they expire which is managed by actively promoting the company to prospective customers and accurate tendering for new work.

risks arising from health and safety matters which is managed by an active team who ensure that site procedures and policies are in place and constant monitoring on sites.

ON BEHALF OF THE BOARD:

P J Loftus - Director

23 December 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 30 March 2025.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 31 March 2024 to the date of this report.

The beneficial interests of the directors holding office at 30 March 2025 in the shares of the company, according to the register of directors' interests, were as follows:

30.3.25

31.3.24

Ordinary shares of £1 each

P J Loftus

50

50

P Lynch

50

50

These directors did not hold any non-beneficial interests in the shares of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Fusion Audit Limited, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

P J Loftus - Director

23 December 2025

Opinion

We have audited the financial statements of Gobion Construction Ltd (the 'company') for the year ended 30 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 March 2025 and of its profit 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the construction industry;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, and employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

- investigated the rationale behind significant or unusual transactions.

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

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

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 a Report of the Auditors 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.

Paul Skipper BSc FCA (Senior Statutory Auditor)

for and on behalf of Fusion Audit Limited

Statutory Auditors

Bridge House

25 Fiddlebridge Lane

Hatfield

Hertfordshire

AL10 0SP

23 December 2025

TURNOVER

24,789,369

11,686,117

Cost of sales

21,785,566

9,892,462

GROSS PROFIT

3,003,803

1,793,655

Administrative expenses

917,725

614,605

OPERATING PROFIT

4

2,086,078

1,179,050

Interest receivable and similar income

-

72

2,086,078

1,179,122

Interest payable and similar expenses

5

37,237

21,248

PROFIT BEFORE TAXATION

2,048,841

1,157,874

Tax on profit

6

439,688

220,850

PROFIT FOR THE FINANCIAL YEAR

1,609,153

937,024

PROFIT FOR THE YEAR

1,609,153

937,024

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,609,153

937,024

FIXED ASSETS

Tangible assets

7

1,181,030

804,758

CURRENT ASSETS

Debtors

8

9,056,373

3,344,409

Cash at bank and in hand

3,763,055

1,525,376

12,819,428

4,869,785

CREDITORS

Amounts falling due within one year

9

10,155,407

3,609,985

NET CURRENT ASSETS

2,664,021

1,259,800

TOTAL ASSETS LESS CURRENT LIABILITIES

3,845,051

2,064,558

CREDITORS

Amounts falling due after more than one year

10

303,198

131,858

NET ASSETS

3,541,853

1,932,700

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

3,541,753

1,932,600

SHAREHOLDERS' FUNDS

3,541,853

1,932,700

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

P J Loftus - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

100

995,576

995,676

Changes in equity

Total comprehensive income

-

937,024

937,024

Balance at 30 March 2024

100

1,932,600

1,932,700

Changes in equity

Total comprehensive income

-

1,609,153

1,609,153

Balance at 30 March 2025

100

3,541,753

3,541,853

Cash flows from operating activities

Cash generated from operations

1

2,663,505

196,891

Interest paid

(5,282

)

(588

)

Interest element of hire purchase payments paid

(31,955

)

(20,660

)

Tax paid

4,095

-

Net cash from operating activities

2,630,363

175,643

Cash flows from investing activities

Purchase of tangible fixed assets

(704,705

)

(201,925

)

Sale of tangible fixed assets

33,854

40,000

Interest received

-

72

Net cash from investing activities

(670,851

)

(161,853

)

Cash flows from financing activities

Capital repayments in year

178,167

(62,437

)

Amount withdrawn by directors

100,000

-

Net cash from financing activities

278,167

(62,437

)

Increase/(decrease) in cash and cash equivalents

2,237,679

(48,647

)

Cash and cash equivalents at beginning of year

2

1,525,376

1,574,023

Cash and cash equivalents at end of year

2

3,763,055

1,525,376

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

£

£

Profit before taxation

2,048,841

1,157,874

Depreciation charges

310,440

224,175

Profit on disposal of fixed assets

(15,861

)

(14,459

)

Finance costs

37,237

21,248

Finance income

-

(72

)

2,380,657

1,388,766

Increase in trade and other debtors

(5,711,964

)

(923,765

)

Increase/(decrease) in trade and other creditors

5,994,812

(268,110

)

Cash generated from operations

2,663,505

196,891

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 March 2025

30.3.25

31.3.24

£

£

Cash and cash equivalents

3,763,055

1,525,376

Period ended 30 March 2024

30.3.24

1.4.23

£

£

Cash and cash equivalents

1,525,376

1,574,023

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 31.3.24

Cash flow

At 30.3.25

£

£

£

Net cash

Cash at bank and in hand

1,525,376

2,237,679

3,763,055

1,525,376

2,237,679

3,763,055

Debt

Finance leases

(279,763

)

(178,167

)

(457,930

)

(279,763

)

(178,167

)

(457,930

)

Total

1,245,613

2,059,512

3,305,125

1.	STATUTORY INFORMATION

Gobion Construction Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

£

£

Wages and salaries

281,660

221,450

Social security costs

36,993

30,274

Other pension costs

7,644

6,701

326,297

258,425

The average number of employees during the year was as follows:

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

4

3

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

£

£

Hire of plant and machinery

1,715,873

578,067

Other operating leases

40,437

-

Depreciation - owned assets

155,720

114,682

Depreciation - assets on hire purchase contracts

154,720

109,493

Profit on disposal of fixed assets

(15,861

)

(14,459

)

Auditors' remuneration

15,000

-

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

£

£

Late payment interest

5,282

588

Hire purchase

31,955

20,660

37,237

21,248

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

£

£

Current tax:

UK corporation tax

439,688

220,850

Tax on profit

439,688

220,850

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period

1.4.23

Year Ended

to

30.3.25

30.3.24

£

£

Profit before tax

2,048,841

1,157,874

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

512,210

289,469

Effects of:

Expenses not deductible for tax purposes

773

708

Capital allowances in excess of depreciation

(69,330

)

-

Depreciation in excess of capital allowances

-

4,859

Utilisation of tax losses

-

(80,571

)

Profit on disposal of assets

(3,965

)

(3,615

)

Balancing charge

-

10,000

Total tax charge

439,688

220,850

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 31 March 2024

790,255

162,240

259,740

4,732

1,216,967

Additions

512,558

-

192,147

-

704,705

Disposals

-

-

(56,500

)

-

(56,500

)

At 30 March 2025

1,302,813

162,240

395,387

4,732

1,865,172

DEPRECIATION

At 31 March 2024

236,380

45,135

128,146

2,548

412,209

Charge for year

210,001

29,276

70,617

546

310,440

Eliminated on disposal

-

-

(38,507

)

-

(38,507

)

At 30 March 2025

446,381

74,411

160,256

3,094

684,142

NET BOOK VALUE

At 30 March 2025

856,432

87,829

235,131

1,638

1,181,030

At 30 March 2024

553,875

117,105

131,594

2,184

804,758

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 31 March 2024

476,775

115,640

592,415

Additions

346,800

67,979

414,779

Disposals

-

(56,500

)

(56,500

)

At 30 March 2025

823,575

127,119

950,694

DEPRECIATION

At 31 March 2024

151,465

59,309

210,774

Charge for year

127,894

26,826

154,720

Eliminated on disposal

-

(38,507

)

(38,507

)

At 30 March 2025

279,359

47,628

326,987

NET BOOK VALUE

At 30 March 2025

544,216

79,491

623,707

At 30 March 2024

325,310

56,331

381,641