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REGISTERED NUMBER: 14392588 (England and Wales)

| Hollingsworth Group Ltd |

| Group Strategic Report, |

| Report of the Directors and |

| Consolidated Financial Statements |

| for the Year Ended 30 April 2025 |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Contents of the Consolidated Financial Statements

for the year ended 30 April 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 4 |

| Consolidated Income Statement | 7 |

| Consolidated Other Comprehensive Income | 8 |

| Consolidated Balance Sheet | 9 |

| Company Balance Sheet | 10 |

| Consolidated Statement of Changes in Equity | 11 |

| Company Statement of Changes in Equity | 12 |

| Consolidated Cash Flow Statement | 13 |

| Notes to the Consolidated Cash Flow Statement | 14 |

| Notes to the Consolidated Financial Statements | 15 |

| Hollingsworth Group Ltd |

Company Information

for the year ended 30 April 2025

| DIRECTORS: | Mr J P Hollingsworth

| Mr R E S Hollingsworth

| REGISTERED OFFICE: | C/o Salisbury & Company Irish Square

| Upper Denbigh Road

| St Asaph

| Clwyd

| LL17 0RN

| REGISTERED NUMBER: | 14392588 (England and Wales)

| AUDITORS: | Salisbury & Company Business Solutions Limited

| Statutory Auditors

| Chartered Accountants

| Irish Square

| Upper Denbigh Road

| St Asaph

| Denbighshire

| LL17 0RN

| Hollingsworth Group Ltd (Registered number: 14392588) |

Group Strategic Report

for the year ended 30 April 2025

The directors present their strategic report of the company and the group for the year ended 30 April 2025.

The Group generated revenue of £22.7m during the year, and profit before tax of £4.4m. This compared to £27.0m revenue in the year to 30/04/24, and profit before tax of £4.6m.

Gross profit improved in 2025, at 28.4% compared to 24.6% in 2024.

The Group balance sheet remains strong, with net assets of £3.5m at year end (2024: £3.0m).

REVIEW OF BUSINESS

The Directors are once again happy with a pleasing set of results.

The group went through a reorganisation in October 2022, divesting the investment properties portfolio.

The group went through a further restructure in January 2024, resulting in the formation of HG Employee Ownership Trust (EOT).

The Directors, would like to thank all our employees, for their continued dedication & loyalty, with many employees exceeding 20 years of service to the business.

The Directors believe that the forming of the EOT will give well deserved rewards to our employees & believe they will continue to drive the Group forward and provide the excellent service expected of the Hollingsworth Group to our clients.

PRINCIPAL RISKS AND UNCERTAINTIES

The Group operates in a sector where there is always inherent risk. However, the Group's main client base are large, blue chip companies that they consider to be less risky.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Group tends to operate with positive cashflow and does not have any debt servicing requirement.

KEY PERFORMANCE INDICATORS

A key part of how we operate is measuring our performance. The success of the business is measured by reference to quarterly accounting, monitoring, turnover, operating profit, margin & order book. These are monitored closely and reviewed as necessary.

Group results for the financial year are:

Turnover of £22.7m compared to £27.0m in the prior period

Despite Turnover dropping between years, gross profit has improved, from 24.6% in 2024 to 28.4% in 2025.

The Directors believe that the current position is satisfactory and based on forecast activity levels and current order book are confident about the future.

ON BEHALF OF THE BOARD:

Mr R E S Hollingsworth - Director

29 October 2025

| Hollingsworth Group Ltd (Registered number: 14392588) |

Report of the Directors

for the year ended 30 April 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of construction and civil engineering.

DIVIDENDS

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

FUTURE DEVELOPMENTS

There is a strong order book in place, and further growth is expected in 2025/26.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2024 to the date of this report.

Mr J P Hollingsworth

Mr R E S Hollingsworth

DONATIONS AND EXPENDITURE

Donations were made to various UK registered Charities during the year. No political donations were made.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | 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 and the 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.

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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr R E S Hollingsworth - Director

29 October 2025

Report of the Independent Auditors to the Members of

Hollingsworth Group Ltd

Opinion

We have audited the financial statements of Hollingsworth Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 April 2025 and of the group's profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Report of the Independent Auditors to the Members of

Hollingsworth Group Ltd

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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the Company and Group and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

We assessed the susceptibility of the Company's and Group's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;

- Obtaining an understanding of the internal controls that management have in place to prevent and detect fraud;

- Challenging assumptions and judgements made by management in its significant accounting estimates;

- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;

- Identifying and testing journal entries, in particular manual or unusual entries;

- Obtaining third party confirmations of all the companies banking arrangements;

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

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting.

The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible 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 at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Hollingsworth Group Ltd

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.

Aled Roberts (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

29 October 2025

| Hollingsworth Group Ltd (Registered number: 14392588) |

Consolidated

Income Statement

for the year ended 30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 22,687,893 |  | 27,017,540 |  |

Cost of sales | (16,239,196 | ) | (20,376,946 | ) |

GROSS PROFIT | 6,448,697 |  | 6,640,594 |  |

Administrative expenses | (2,123,924 | ) | (2,021,233 | ) |

4,324,773 |  | 4,619,361 |  |

Other operating income | 27,983 |  | - |  |

OPERATING PROFIT | 4 | 4,352,756 |  | 4,619,361 |  |

Interest receivable and similar income | 31,310 |  | 5,702 |  |

4,384,066 |  | 4,625,063 |  |

Interest payable and similar expenses | 5 | (24,850 | ) | (28,117 | ) |

PROFIT BEFORE TAXATION | 4,359,216 |  | 4,596,946 |  |

Tax on profit | 6 | (1,084,811 | ) | (1,205,695 | ) |

PROFIT FOR THE FINANCIAL YEAR | 3,274,405 |  | 3,391,251 |  |

Profit attributable to:

Owners of the parent | 3,274,405 |  | 3,391,251 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Consolidated

Other Comprehensive Income

for the year ended 30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 3,274,405 |  | 3,391,251 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 3,274,405 |  | 3,391,251 |  |

Total comprehensive income attributable to:

Owners of the parent | 3,274,405 |  | 3,391,251 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Consolidated Balance Sheet

30 April 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 834,251 |  | 1,071,209 |  |

Investments | 10 | - |  | - |  |

834,251 |  | 1,071,209 |  |

CURRENT ASSETS

Debtors | 11 | 5,682,954 |  | 2,550,513 |  |

Cash at bank | 1,685,562 |  | 3,124,211 |  |

7,368,516 |  | 5,674,724 |  |

CREDITORS

Amounts falling due within one year | 12 | 4,431,100 |  | 3,303,306 |  |

NET CURRENT ASSETS | 2,937,416 |  | 2,371,418 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,771,667 |  | 3,442,627 |  |

CREDITORS

Amounts falling due after more than one year | 13 | (52,142 | ) | (144,768 | ) |

PROVISIONS FOR LIABILITIES | 15 | (208,563 | ) | (265,844 | ) |

NET ASSETS | 3,510,962 |  | 3,032,015 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 124 |  | 124 |  |

Retained earnings | 17 | 3,510,838 |  | 3,031,891 |  |

SHAREHOLDERS' FUNDS | 3,510,962 |  | 3,032,015 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

Mr R E S Hollingsworth - Director

| Hollingsworth Group Ltd (Registered number: 14392588) |

Company Balance Sheet

30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 11 | 124 |  | 124 |  |

Cash at bank | 225,490 |  | - |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 225,614 |  | 124 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 124 |  | 124 |  |

Retained earnings | 225,490 |  | - |  |

SHAREHOLDERS' FUNDS | 225,614 |  | 124 |  |

Company's profit for the financial year | 3,020,948 |  | 3,860,000 |  |

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

Mr R E S Hollingsworth - Director

| Hollingsworth Group Ltd (Registered number: 14392588) |

Consolidated Statement of Changes in Equity

for the year ended 30 April 2025

| Called up |

| share |  | Retained |  | Non-controlling |  | Total

| capital |  | earnings |  | Total |  | interests |  | equity

£ | £ | £ | £ | £ |

Balance at 1 May 2023 | 110 |  | 4,361,800 |  | 4,361,910 |  | 446,783 |  | 4,808,693 |  |

Changes in equity

Profit for the year | - |  | 3,391,251 |  | 3,391,251 |  | - |  | 3,391,251 |  |

Total comprehensive income | - |  | 3,391,251 |  | 3,391,251 |  | - |  | 3,391,251 |  |

Dividends | - |  | (189,474 | ) | (189,474 | ) | - |  | (189,474 | ) |

Increase in share capital | 14 |  | - |  | 14 |  | - |  | 14 |  |

Acquisition of NCI | - |  | 446,836 |  | 446,836 |  | - |  | 446,836 |  |

Gifts to HG Employee Ownership Trust | - |  | (4,978,522 | ) | (4,978,522 | ) | - |  | (4,978,522 | ) |

Total transactions with owners, recognised directly in equity | 14 |  | (4,721,160 | ) | (4,721,146 | ) | - |  | (4,721,146 | ) |

Acquisition of non-controlling interest | - |  | - |  | - |  | (446,783 | ) | (446,783 | ) |

Balance at 30 April 2024 | 124 |  | 3,031,891 |  | 3,032,015 |  | - |  | 3,032,015 |  |

Changes in equity

Profit for the year | - |  | 3,274,405 |  | 3,274,405 |  | - |  | 3,274,405 |  |

Total comprehensive income | - |  | 3,274,405 |  | 3,274,405 |  | - |  | 3,274,405 |  |

Gifts to HG Employee Ownership Trust | - |  | (2,795,458 | ) | (2,795,458 | ) | - |  | (2,795,458 | ) |

Total transactions with owners, recognised directly in equity | - |  | (2,795,458 | ) | (2,795,458 | ) | - |  | (2,795,458 | ) |

Balance at 30 April 2025 | 124 |  | 3,510,838 |  | 3,510,962 |  | - |  | 3,510,962 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Company Statement of Changes in Equity

for the year ended 30 April 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 May 2023 | 110 |  | - |  | 110 |  |

Changes in equity

Profit for the year | - |  | 3,860,000 |  | 3,860,000 |  |

Total comprehensive income | - |  | 3,860,000 |  | 3,860,000 |  |

Increase in share capital | 14 |  | - |  | 14 |  |

Gifts to HG Employee Ownership Trust | - |  | (3,860,000 | ) | (3,860,000 | ) |

Balance at 30 April 2024 | 124 |  | - |  | 124 |  |

Changes in equity

Profit for the year | - |  | 3,020,948 |  | 3,020,948 |  |

Total comprehensive income | - |  | 3,020,948 |  | 3,020,948 |  |

Gifts to HG Employee Ownership Trust | - |  | (2,795,458 | ) | (2,795,458 | ) |

Balance at 30 April 2025 | 124 |  | 225,490 |  | 225,614 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Consolidated Cash Flow Statement

for the year ended 30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,202,387 |  | 6,441,697 |  |

Interest element of hire purchase payments paid | (24,850 | ) | (28,117 | ) |

Tax paid | (665,036 | ) | (1,476,398 | ) |

Net cash from operating activities | 1,512,501 |  | 4,937,182 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (68,276 | ) | (242,700 | ) |

Sale of tangible fixed assets | 103,511 |  | 14,209 |  |

Sale of fixed asset investments | - |  | (76 | ) |

Interest received | 31,310 |  | 5,702 |  |

Net cash from investing activities | 66,545 |  | (222,865 | ) |

Cash flows from financing activities

Capital repayments in year | (222,125 | ) | (54,639 | ) |

Amount introduced by directors | - |  | 266,000 |  |

Amount withdrawn by directors | - |  | (17,108 | ) |

Share issue | - |  | 14 |  |

Gifts to HG Employee Ownership Trust | (2,795,570 | ) | (4,978,522 | ) |

Equity dividends paid | - |  | (189,474 | ) |

Net cash from financing activities | (3,017,695 | ) | (4,973,729 | ) |

Decrease in cash and cash equivalents | (1,438,649 | ) | (259,412 | ) |

Cash and cash equivalents at beginning of year | 2 | 3,124,211 |  | 3,383,623 |  |

Cash and cash equivalents at end of year | 2 | 1,685,562 |  | 3,124,211 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Cash Flow Statement

for the year ended 30 April 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 4,359,216 |  | 4,596,946 |  |

| Depreciation charges | 236,360 |  | 285,223 |  |

| Profit on disposal of fixed assets | (34,635 | ) | (7,695 | ) |

| Finance costs | 24,850 |  | 28,117 |  |

| Finance income | (31,310 | ) | (5,702 | ) |

4,554,481 |  | 4,896,889 |  |

| (Increase)/decrease in trade and other debtors | (3,132,331 | ) | 1,644,982 |  |

| Increase/(decrease) in trade and other creditors | 780,237 |  | (100,174 | ) |

| Cash generated from operations | 2,202,387 |  | 6,441,697 |  |

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 April 2025

| 30/4/25 |  | 1/5/24

£ | £ |

| Cash and cash equivalents | 1,685,562 |  | 3,124,211 |  |

| Year ended 30 April 2024

| 30/4/24 |  | 1/5/23

£ | £ |

| Cash and cash equivalents | 3,124,211 |  | 3,383,623 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/5/24 | Cash flow | At 30/4/25

£ | £ | £ |

| Net cash |

| Cash at bank | 3,124,211 |  | (1,438,649 | ) | 1,685,562 |  |

3,124,211 |  | (1,438,649 | ) | 1,685,562 |  |

| Debt

| Finance leases | (385,881 | ) | 222,125 |  | (163,756 | ) |

(385,881 | ) | 222,125 |  | (163,756 | ) |

| Total | 2,738,330 |  | (1,216,524 | ) | 1,521,806 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Financial Statements

for the year ended 30 April 2025

1. | STATUTORY INFORMATION

| Hollingsworth Group 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 General Information page.

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.

| Basis of consolidation

| The consolidated financial statements incorporate those of Hollingsworth Group Limited and its subsidiaries. All intra-group transactions and balances are eliminated on consolidation.

| In accordance with Section 408 of the Companies Act 2006, the Company has elected not to present its own Statement of Comprehensive Income. The Company's profit for the period and total comprehensive income was £3.02m (2024: £3.86m)

| Turnover

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

| Turnover, derived from the principle activity, is calculated on the basis of the value of work executed during the period, excluding retentions.

| The basis for not recognising retentions income is that the directors feel that retentions cannot be measured reliably until point of receipt.

| 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.

| Long leasehold | - | 10% on cost

| Plant and machinery | - | 15% on reducing balance

| Fixtures and fittings | - | 15% 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 Consolidated 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.

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Financial Statements - continued

for the year ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

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

| Long-term contracts

| Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.

| Contract costs are recognised as the higher of actual costs to date or costs as a proportion of final costs, using the reference of turnover to date as a proportion of final turnover.

| Revenue derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,845,940 |  | 2,684,965 |  |

| Social security costs | 315,880 |  | 298,795 |  |

| Other pension costs | 63,664 |  | 87,205 |  |

3,225,484 |  | 3,070,965 |  |

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

| 2025 |  | 2024

| Productive staff | 47 |  | 46 |  |

| Admin | 4 |  | 4 |  |

51 |  | 50 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 755,697 |  | 380,594 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 108,051 |  | 28,462 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Financial Statements - continued

for the year ended 30 April 2025

4. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 1,058,454 |  | 1,130,244 |  |

| Depreciation - owned assets | 147,129 |  | 133,963 |  |

| Depreciation - assets on hire purchase contracts | 89,229 |  | 151,261 |  |

| Profit on disposal of fixed assets | (34,635 | ) | (7,695 | ) |

| Auditors' remuneration | 25,000 |  | 20,000 |  |

| Auditors' remuneration for non audit work | 26,450 |  | 38,642 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Hire purchase | 24,850 |  | 28,117 |  |

6. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 1,142,092 |  | 1,153,686 |  |

| Deferred tax | (57,281 | ) | 52,009 |  |

| Tax on profit | 1,084,811 |  | 1,205,695 |  |

| UK corporation tax has been charged at 25 % (2024 - 25 %).

| 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:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 4,359,216 |  | 4,596,946 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 1,089,804 |  | 1,149,237 |  |

| Effects of:

| Expenses not deductible for tax purposes | 923 |  | (1,665 | ) |

| Depreciation in excess of capital allowances | 51,365 |  | 12,389 |  |

| Deferred tax movement | (57,281 | ) | 45,734 |  |

| Total tax charge | 1,084,811 |  | 1,205,695 |  |

7. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Financial Statements - continued

for the year ended 30 April 2025

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| shares of each |

| Interim | - |  | 189,474 |  |

9. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Long |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 May 2024 | 120,000 |  | 821,744 |  | 138,802 |  |

| Additions | - |  | 48,520 |  | 3,682 |  |

| Disposals | - |  | (123,152 | ) | - |  |

| At 30 April 2025 | 120,000 |  | 747,112 |  | 142,484 |  |

| DEPRECIATION

| At 1 May 2024 | 115,956 |  | 398,518 |  | 100,345 |  |

| Charge for year | 4,044 |  | 75,220 |  | 6,069 |  |

| Eliminated on disposal | - |  | (79,039 | ) | - |  |

| At 30 April 2025 | 120,000 |  | 394,699 |  | 106,414 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  | 352,413 |  | 36,070 |  |

| At 30 April 2024 | 4,044 |  | 423,226 |  | 38,457 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024 | 258,160 |  | 1,234,431 |  | 2,573,137 |  |

| Additions | 16,074 |  | - |  | 68,276 |  |

| Disposals | (59,900 | ) | (25,000 | ) | (208,052 | ) |

| At 30 April 2025 | 214,334 |  | 1,209,431 |  | 2,433,361 |  |

| DEPRECIATION

| At 1 May 2024 | 154,637 |  | 732,472 |  | 1,501,928 |  |

| Charge for year | 25,821 |  | 125,204 |  | 236,358 |  |

| Eliminated on disposal | (36,163 | ) | (23,974 | ) | (139,176 | ) |

| At 30 April 2025 | 144,295 |  | 833,702 |  | 1,599,110 |  |

| NET BOOK VALUE

| At 30 April 2025 | 70,039 |  | 375,729 |  | 834,251 |  |

| At 30 April 2024 | 103,523 |  | 501,959 |  | 1,071,209 |  |

| Hollingsworth Bros (UK) Ltd, a 100% subsidiary of the Company, has entered into a Debenture agreement with a bank since the year end. Under the Debenture Agreement, the bank has a Fixed and Floating Charge over Hollingsworth Bros (UK) Ltd's assets.

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Financial Statements - continued

for the year ended 30 April 2025

9. | TANGIBLE FIXED ASSETS - continued

| Group

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

| Plant and |  | Motor |  | Computer |

| machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 May 2024 | 48,087 |  | 59,517 |  | 770,211 |  | 877,815 |  |

| Additions | 48,520 |  | - |  | - |  | 48,520 |  |

| Transfer to ownership | - |  | - |  | (315,240 | ) | (315,240 | ) |

| At 30 April 2025 | 96,607 |  | 59,517 |  | 454,971 |  | 611,095 |  |

| DEPRECIATION

| At 1 May 2024 | 4,788 |  | 18,548 |  | 331,192 |  | 354,528 |  |

| Charge for year | 10,722 |  | 10,242 |  | 68,265 |  | 89,229 |  |

| Transfer to ownership | - |  | - |  | (143,867 | ) | (143,867 | ) |

| At 30 April 2025 | 15,510 |  | 28,790 |  | 255,590 |  | 299,890 |  |

| NET BOOK VALUE

| At 30 April 2025 | 81,097 |  | 30,727 |  | 199,381 |  | 311,205 |  |

| At 30 April 2024 | 43,299 |  | 40,969 |  | 439,019 |  | 523,287 |  |

10. | FIXED ASSET INVESTMENTS

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| Hollingsworth Bros (UK) Limited

| Registered office: United Kingdom

| Nature of business: Civil Engineering

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 2,127,470 |  | 1,419,317 |  |

| Profit for the year | 1,983,676 |  | 2,497,297 |  |

| Hollingsworth Ellery (UK) Limited

| Registered office: United Kingdom

| Nature of business: Civil Engineering

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 1,158,012 |  | 1,612,607 |  |

| Profit for the year | 1,290,842 |  | 1,493,753 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Financial Statements - continued

for the year ended 30 April 2025

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 4,792,894 |  | 2,160,863 |  | - |  | - |  |

| Amts recoverable on contracts | 779,413 |  | 243,122 |  | - |  | - |  |

| Other debtors | 125 |  | 1 |  | 124 |  | 124 |  |

| Prepayments | 110,522 |  | 146,527 |  | - |  | - |  |

5,682,954 |  | 2,550,513 |  | 124 |  | 124 |  |

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 14) | 111,614 |  | 241,113 |  |

| Trade creditors | 3,145,567 |  | 2,399,156 |  |

| Tax | 470,374 |  | (6,682 | ) |

| Social security and other taxes | 109,586 |  | 100,842 |  |

| Wages control | 11,357 |  | 26,483 |  |

| VAT | 425,987 |  | 505,118 |  |

| Other creditors | 127,853 |  | 8,514 |  |

| Rent due to pension fund | 3,762 |  | 3,762 |  |

| Accruals and deferred income | 25,000 |  | 25,000 |  |

4,431,100 |  | 3,303,306 |  |

13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 14) | 52,142 |  | 144,768 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 111,614 |  | 241,113 |  |

| Between one and five years | 52,142 |  | 144,768 |  |

163,756 |  | 385,881 |  |

15. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax | 208,563 |  | 265,844 |  |

| Hollingsworth Group Ltd (Registered number: 14392588) |

Notes to the Consolidated Financial Statements - continued

for the year ended 30 April 2025

15. | PROVISIONS FOR LIABILITIES - continued

| Group

| Deferred |

| tax |

£ |

| Balance at 1 May 2024 | 265,844 |  |

| Credit to Income Statement during year | (57,281 | ) |

| Change in tax rate |

| Balance at 30 April 2025 | 208,563 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 110 | Ordinary | £1 | 124 |  | 124 |  |

17. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 May 2024 | 3,031,891 |  |

| Profit for the year | 3,274,405 |  |

| Gifts to HG Employee Ownership Trust | (2,795,458 | ) |

| At 30 April 2025 | 3,510,838 |  |

| The Profit or Loss Reserve represents the cumulative profit or loss, net of contributions paid to the Employee Ownership Trust.

18. | ULTIMATE CONTROLLING PARTY

| Until 18th January 2024, the Group was controlled by the Directors by virtue of their shareholdings.

| On the 18th January 2024, Hollingsworth Group Limited's issued share capital was acquired by HG EOT Ltd

| as trustee for the Employee Ownership Trust. Since that date, the Company and Group are controlled by the HG Employee Ownership Trust, which in turn is controlled by the sole trustee HG EOT Limited.