Company registration number 11277599 (England and Wales)
STEADFAST ROOFING HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
STEADFAST ROOFING HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr C P Ridgway
Mr L L Mullen
Company number
11277599
Registered office
Southern Office
The Old Embankment
Station Road
Sharnbrook
MK44 1PU
Auditor
Gravita Audit II Limited
Aldgate Tower
2 Leman Street
London
United Kingdom
E1 8FA
STEADFAST ROOFING HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
15 - 32
STEADFAST ROOFING HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

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

Review of the business

The group will continue with its main activities of supplying and fixing new roofing to the major house builders.

The directors' key objective this year were to weather the downturn in the housing market due to interest rates and inflation. The industry remains strong and this should enable the group to continue to grow in the future.

The group has continued to be profitable, with a profit before tax of £1.8m in 2025, compared to £1.0m in 2024. The group also continues to be in a net asset position, and as at 30 September 2025 had net assets of £6.5m, which has increased from the prior year when this was £6.3m as at 30 September 2024.

Principal risks and uncertainties

The financial risks that the group is exposed to are reviewed by the directors, and the risk management strategy focuses on maximising the financial assets and minimising financial liabilities, whilst making sure these reduce the potential negative effect on the group’s performance. The directors regard recession-inflation as the principal risk. The directors monitor the market confidence and update strategy when required.

The directors regard the following to be the principal risks and uncertainties, which might affect the group:

a) Credit risk

The principal risk is considered to be in debt collection. The group has established and implemented credit check procedures, and has a tight credit control function, to help minimise bad debts.

b) Market risk

The directors consider there to be a risk from recession, resulting in potential uncertainties around market confidence. The directors monitor the market confidence around these areas and update strategy when required.

c) Liquidity risk

The group carefully manages the cash flow and debt to monitor liquidity risk, and ensures that it has sufficient cash reserves to ensure operations can continue and the group can continue to grow. The group has systems and procedures in place to ensure the working capital is in place to mitigate any significant liquidity risk.

d) Operations risk

There is a risk of retaining key employees in the business and replacing when appropriate.

Key performance indicators

The directors consider the key performance indicators for the group to be sales and gross profit margin. Sales have increased to £23.0m for the year ended 30 September 2025, which compares to £18.4m for 2024.

The gross profit margins have remained fairly static at 21%compared with 22% for 2024.

On behalf of the board

Mr C P Ridgway
Director
2 March 2026
STEADFAST ROOFING HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

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

Principal activities

The principal activity of the company and group continued to be that of roofing contractors.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £1,000,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr C P Ridgway
Mr L L Mullen
Future developments

The company intends to develop its existing activities, along with investment in training. Trading conditions are expected to improve with certainty in Government and expected planning reforms.

Auditor

In accordance with the company's articles, a resolution proposing that Gravita Audit II Limited be reappointed as auditor of the group will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent company, 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;

- state whether applicable U nited K ingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.

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

STEADFAST ROOFING HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to groups and companies entitled to the exemptions of the small companies regime.

On behalf of the board
Mr C P Ridgway
Director
2 March 2026
STEADFAST ROOFING HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STEADFAST ROOFING HOLDINGS LIMITED
- 4 -
Opinion

We have audited the financial statements of Steadfast Roofing Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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 the parent company's affairs as at 30 September 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 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's and 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 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. 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 course of 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 our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

STEADFAST ROOFING HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STEADFAST ROOFING HOLDINGS LIMITED
- 5 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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

STEADFAST ROOFING HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STEADFAST ROOFING HOLDINGS LIMITED
- 6 -

We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. The laws and regulations applicable to the Group were identified through discussions with directors and other management, and from our commercial knowledge and experience of roofing contractors. Of these laws and regulations, we focused on those that we considered may have a direct material effect on the financial statements or the operations of the Group, including the SSIP Core Criteria, CDM Regulations 2015, Companies Act 2006, taxation legislation, data protection, anti-bribery, anti-money-laundering, employment, environmental and health and safety legislation. The extent of compliance with these laws and regulations identified above was assessed through making enquiries of management and inspecting legal correspondence. The 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 group’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; and

- understanding the design of the group’s remuneration policies.

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 set out in note 2 were indicative of potential bias; and

- 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; and

- reviewing correspondence with HMRC, relevant regulators including the National House Building Council and the company’s legal advisors.

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 is available on the Financial Reporting Council’s website at: https://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 parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

STEADFAST ROOFING HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STEADFAST ROOFING HOLDINGS LIMITED
- 7 -
Daniel Howarth (Senior Statutory Auditor)
For and on behalf of Gravita Audit II Limited, Statutory Auditor
Chartered Accountants
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
2 March 2026
STEADFAST ROOFING HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
23,009,279
18,355,564
Cost of sales
(18,193,419)
(14,380,146)
Gross profit
4,815,860
3,975,418
Administrative expenses
(3,105,919)
(3,027,536)
Other operating income
48,319
61,146
Operating profit
4
1,758,260
1,009,028
Interest receivable and similar income
7
60,773
68,496
Interest payable and similar expenses
8
(30,673)
(60,907)
Profit before taxation
1,788,360
1,016,617
Tax on profit
9
(480,078)
(286,704)
Profit for the financial year
23
1,308,282
729,913
Profit for the financial year is attributable to:
- Owners of the parent company
1,225,991
684,321
- Non-controlling interests
82,291
45,592
1,308,282
729,913
Total comprehensive income for the year is attributable to:
- Owners of the parent company
1,225,991
684,321
- Non-controlling interests
82,291
45,592
1,308,282
729,913
STEADFAST ROOFING HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
527,121
495,292
Current assets
Stocks
14
777,869
774,221
Debtors
15
3,749,335
4,279,156
Cash at bank and in hand
4,346,973
3,613,528
8,874,177
8,666,905
Creditors: amounts falling due within one year
16
(2,685,023)
(2,688,950)
Net current assets
6,189,154
5,977,955
Total assets less current liabilities
6,716,275
6,473,247
Creditors: amounts falling due after more than one year
17
-
(4,855)
Provisions for liabilities
Provisions
19
100,000
100,000
Deferred tax liability
20
125,028
115,427
(225,028)
(215,427)
Net assets
6,491,247
6,252,965
Capital and reserves
Called up share capital
22
3,807,720
3,807,720
Merger reserve
23
(4,199,875)
(4,199,875)
Profit and loss reserves
23
6,402,436
6,176,445
Equity attributable to owners of the parent company
6,010,281
5,784,290
Non-controlling interests
480,966
468,675
6,491,247
6,252,965
The financial statements were approved by the board of directors and authorised for issue on 2 March 2026 and are signed on its behalf by:
02 March 2026
Mr C P Ridgway
Director
STEADFAST ROOFING HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
12
4,200,000
4,200,000
Current assets
Cash at bank and in hand
993,111
1,001,491
Creditors: amounts falling due within one year
16
(6,825)
(6,825)
Net current assets
986,286
994,666
Net assets
5,186,286
5,194,666
Capital and reserves
Called up share capital
22
3,807,720
3,807,720
Profit and loss reserves
23
1,378,566
1,386,946
Total equity
5,186,286
5,194,666

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £991,620 (2024: £400,448).

The financial statements were approved by the board of directors and authorised for issue on 2 March 2026 and are signed on its behalf by:
02 March 2026
Mr C P Ridgway
Director
Company registration number 11277599 (England and Wales)
STEADFAST ROOFING HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
Share capital
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
Balance at 1 October 2023
3,807,720
(4,199,875)
5,892,124
5,499,969
438,083
5,938,052
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
684,321
684,321
45,592
729,913
Dividends
10
-
-
(400,000)
(400,000)
(15,000)
(415,000)
Balance at 30 September 2024
3,807,720
(4,199,875)
6,176,445
5,784,290
468,675
6,252,965
Year ended 30 September 2025:
Profit and total comprehensive income
-
-
1,225,991
1,225,991
82,291
1,308,282
Dividends
10
-
-
(1,000,000)
(1,000,000)
(70,000)
(1,070,000)
Balance at 30 September 2025
3,807,720
(4,199,875)
6,402,436
6,010,281
480,966
6,491,247
STEADFAST ROOFING HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2023
3,807,720
1,386,498
5,194,218
Year ended 30 September 2024:
Profit and total comprehensive income for the year
-
400,448
400,448
Dividends
10
-
(400,000)
(400,000)
Balance at 30 September 2024
3,807,720
1,386,946
5,194,666
Year ended 30 September 2025:
Profit and total comprehensive income
-
991,620
991,620
Dividends
10
-
(1,000,000)
(1,000,000)
Balance at 30 September 2025
3,807,720
1,378,566
5,186,286
STEADFAST ROOFING HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
27
2,350,621
193,663
Interest paid
(30,673)
(60,907)
Income taxes paid
(338,972)
(471,338)
Net cash inflow/(outflow) from operating activities
1,980,976
(338,582)
Investing activities
Purchase of tangible fixed assets
(245,068)
(231,215)
Proceeds from disposal of tangible fixed assets
24,848
-
Repayment of loans
(549)
5,410
Interest received
60,773
68,496
Net cash used in investing activities
(159,996)
(157,309)
Financing activities
Payment of finance leases obligations
(17,535)
(32,228)
Dividends paid to equity shareholders
(1,000,000)
(400,000)
Dividends paid to non-controlling interests
(70,000)
(15,000)
Net cash used in financing activities
(1,087,535)
(447,228)
Net increase/(decrease) in cash and cash equivalents
733,445
(943,119)
Cash and cash equivalents at beginning of year
3,613,528
4,556,647
Cash and cash equivalents at end of year
4,346,973
3,613,528
STEADFAST ROOFING HOLDINGS LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
28
(8,380)
(8,097)
Investing activities
Interest received
-
0
8,870
Dividends received
1,000,000
400,000
Net cash generated from investing activities
1,000,000
408,870
Financing activities
Dividends paid to equity shareholders
(1,000,000)
(400,000)
Net cash used in financing activities
(1,000,000)
(400,000)
Net (decrease)/increase in cash and cash equivalents
(8,380)
773
Cash and cash equivalents at beginning of year
1,001,491
1,000,718
Cash and cash equivalents at end of year
993,111
1,001,491
STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 15 -
1
Accounting policies
Company information

Steadfast Roofing Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Southern Office, The Old Embankment, Station Road, Sharnbrook, MK44 1PU.

The group consists of Steadfast Roofing Holdings Limited and all of its subsidiaries.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Steadfast Roofing Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 30 September 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 16 -

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The group’s performance is carefully monitored by the directors, who carefully consider trading conditions such as interest rates, cost of living, inflation, supply etc. The company has again managed to perform well under difficult trading conditions this year. As a result of the above, planning restrictions, and a predicted fall in new builds, the directors are incorporating additional services to offset this and to comply with new regulations. Although the directors expect to encounter difficult trading conditions again next year, the company has good expertise which allows the business to be flexible and react quickly to developing situations.

1.5
Revenue

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

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Group has transferred the significant risks and rewards of ownership to the buyer;

- the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably

- it is probable that the Group will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue 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 revenue can be measured reliably;

- it is probable that the Group 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.

A proportion of revenue from contracts is also identified as retention income, where customers retain part of the contract fee over a maintenance period pending the satisfactory completion of any remedial work required by the contractor. This proportion of revenue is deferred and recognised only when receipt becomes virtually certain.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 17 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
4 years
Motor vehicles
4 to 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.7
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 18 -
1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
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.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 m ethod unless the arrangement constitutes a financing transaction, where the 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.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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 group 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.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 19 -
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 from fellow group are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 20 -
1.14
Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

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

1.17
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

As lessor

When the group acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the group allocates the consideration in the contract to the two elements.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 21 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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.

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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful economic lives of tangible fixed assets

The useful economic lives used by the company in respect of tangible fixed assets are straight line over 4 to 5 years. Details of this can be found in the accounting policies. These estimates are the best estimate based on past experience and expected performance and are regularly reviewed to ensure they remain appropriate. The net book value of tangible fixed assets as at 30 September 2024 was £495,292 after a depreciation charge in the period of £164,888.

Provision for rectifications

Cost of rectifications include cost of labour, material and related overheads necessary to repair a product during the rectification period. The group accrue for the estimated cost of the rectifications on contracts upon recognition of the revenue. The costs are estimated based on actual historic expenses incurred on estimated future expenses related to current sales, and are updated periodically. Actual rectification costs are charged against the provision for rectifications. The actual rectification costs may differ from estimated costs, and the company adjust the provision for rectification accordingly. Future rectification costs may exceed the group's estimates, which could result in an increase in cost of sales.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of services
23,009,279
18,355,564
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
23,009,279
18,355,564
2025
2024
£
£
Other revenue
Interest income
60,773
68,496
Rental income arising from investment properties
2,650
12,600

All turnover arose within the United Kingdom.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 22 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
188,502
120,365
Depreciation of tangible fixed assets held under finance leases
24,737
44,523
(Profit)/loss on disposal of tangible fixed assets
(24,848)
1
Operating lease charges
90,101
97,680
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Administration and drivers
34
32
-
-
Directors
4
4
-
-
Total
38
36
0
0

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
1,899,312
1,702,866
-
0
-
0
Social security costs
224,515
193,276
-
-
Pension costs
49,021
166,254
-
0
-
0
2,172,848
2,062,396
-
0
-
0
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
281,540
326,668

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024: 2).

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
6
Directors' remuneration
(Continued)
- 23 -
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
110,000
160,001
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
60,773
68,496
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
60,773
68,496
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
28,379
57,963
Other finance costs:
Interest on finance leases and hire purchase contracts
2,294
2,944
Total finance costs
30,673
60,907
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
470,477
271,685
Deferred tax
Origination and reversal of timing differences
9,601
15,019
Total tax charge
480,078
286,704
STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
9
Taxation
(Continued)
- 24 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,788,360
1,016,617
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
447,090
254,154
Tax effect of expenses that are not deductible in determining taxable profit
82,557
79,360
Tax effect of income not taxable in determining taxable profit
(15,193)
(17,125)
Tax effect of utilisation of tax losses not previously recognised
(6,212)
-
0
Permanent capital allowances in excess of depreciation
(51,170)
(58,605)
Deferred tax
9,601
15,019
NTLR surplus
15,193
13,901
Charitable donations
(806)
-
0
Pension contribution adjustment
(982)
-
0
Taxation charge
480,078
286,704
10
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Final paid
1,000,000
400,000
STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 25 -
11
Tangible fixed assets
Group
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 October 2024
201,916
1,143,859
1,345,775
Additions
55,474
189,594
245,068
Disposals
-
0
(257,296)
(257,296)
At 30 September 2025
257,390
1,076,157
1,333,547
Depreciation and impairment
At 1 October 2024
175,922
674,561
850,483
Depreciation charged in the year
29,014
184,225
213,239
Eliminated in respect of disposals
-
0
(257,296)
(257,296)
At 30 September 2025
204,936
601,490
806,426
Carrying amount
At 30 September 2025
52,454
474,667
527,121
At 30 September 2024
25,994
469,298
495,292
The company had no tangible fixed assets at 30 September 2025 or 30 September 2024.
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
4,200,000
4,200,000
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 October 2024 and 30 September 2025
4,200,000
Carrying amount
At 30 September 2025
4,200,000
At 30 September 2024
4,200,000
13
Subsidiaries

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

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
13
Subsidiaries
(Continued)
- 26 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Steadfast Roofing Limited
Southern Office The Old Embankment, Station Road, Sharnbrook, Bedfordshire, England, MK44 1PU
Ordinary
93.75
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Steadfast Roofing Limited
5,504,961
1,316,662
14
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
777,869
774,221
-
-
15
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
3,498,871
3,744,370
-
0
-
0
Unpaid share capital
5
5
-
0
-
0
Other debtors
168,303
297,286
-
0
-
0
Prepayments and accrued income
82,156
47,149
-
0
-
0
3,749,335
4,088,810
-
-
Amounts falling due after more than one year:
Amount owed by related parties
-
0
190,346
-
0
-
0
Total debtors
3,749,335
4,279,156
-
-
STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 27 -
16
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
18
7,789
20,469
-
0
-
0
Trade creditors
1,276,073
1,611,126
-
0
-
0
Corporation tax payable
237,540
106,035
-
0
-
0
Other taxation and social security
201,213
151,167
-
-
Other creditors
656,675
597,266
-
0
-
0
Accruals and deferred income
305,733
202,887
6,825
6,825
2,685,023
2,688,950
6,825
6,825

Obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.

17
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
18
-
0
4,855
-
0
-
0

Obligations under finance lease and hire purchase contracts are secured on the assets on which they relate.

18
Finance lease obligations
Group
Company
2025
2024
2025
2024
Amounts due:
£
£
£
£
Current liabilities
7,789
20,469
-
0
-
0
Non-current liabilities
-
0
4,855
-
0
-
0
7,789
25,324
-
-
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
7,789
20,469
-
0
-
0
In two to five years
-
0
4,855
-
0
-
0
7,789
25,324
-
-

Finance lease payments represent rentals payable by the company or group for certain items of motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 28 -
19
Provisions for liabilities
Group
Company
2025
2024
2025
2024
£
£
£
£
Rectification costs
100,000
100,000
-
-
Movements on provisions:
Rectification costs
Group
£
At 1 October 2024 and 30 September 2025
100,000

The provision relates to the costs of labour, material and related overhead that might be necessary to repair a product during a warranty period. This is estimated based on the costing of jobs, and is provided for upon recognition of the revenue relating to contracts.

20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
125,601
116,163
Other timing differences
(573)
(736)
125,028
115,427
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 October 2024
115,427
-
Charge to profit or loss
9,601
-
Liability at 30 September 2025
125,028
-

T he deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 29 -
21
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
49,021
166,254

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

There was an amount of £9,444 (2024: £6,750) payable to the fund at the balance sheet date.

22
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,807,720
3,807,720
3,807,720
3,807,720
STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 30 -
23
Reserves
Profit and loss reserves

Profit and loss account includes all current and previous period retained profits and losses.

Merger Reserve

The merger reserve arose from the acquisition of the subsidiary company.

24
Related party transactions
Transactions with related parties

During the year the group entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Group
Other related parties
262,690
392,106
933,859
518,790
Management charge
Rent
2025
2024
2025
2024
£
£
£
£
Group
Other related parties
30,500
30,000
36,533
33,190

Remuneration paid to close family members

The aggregate of remuneration paid to close family members of the Directors of the company and its subsidiaries amounted to £579,784 (2024:£347,024) during the year.

The following amounts were outstanding at the reporting end date:

Amounts due from related parties
2025
2024
Balance
Balance
£
£
Group
Other related parties
-
267,636

Balances are interest free and repayable on demand.

25
Controlling party

There was no ultimate controlling party during the year.

26
Directors' transactions

At 30 September 2025, the Directors' loan accounts balances amounted to £407,679 (2024: £590,516) due to the Directors. Interest on the loans accrued at a rate of 4% per annum, the interest rate ranged from 4%-7% in the prior year. Interest accruing on the loans for the year amounted to £28,295 (2023: £39,625).

STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 31 -
27
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
1,308,282
729,913
Adjustments for:
Taxation charged
480,078
286,704
Finance costs
30,673
60,907
Investment income
(60,773)
(68,496)
(Gain)/loss on disposal of tangible fixed assets
(24,848)
1
Depreciation and impairment of tangible fixed assets
213,239
164,888
Movements in working capital:
Increase in stocks
(3,648)
(247,401)
Decrease/(increase) in debtors
530,370
(550,550)
Decrease in creditors
(122,752)
(182,303)
Cash generated from operations
2,350,621
193,663
28
Cash absorbed by operations - company
2025
2024
£
£
Profit for the year after tax
991,620
400,448
Adjustments for:
Investment income
(1,000,000)
(408,870)
Movements in working capital:
Increase in creditors
-
325
Cash absorbed by operations
(8,380)
(8,097)
29
Analysis of changes in net funds - group
1 October 2024
Cash flows
30 September 2025
£
£
£
Cash at bank and in hand
3,613,528
733,445
4,346,973
Obligations under finance leases
(25,324)
17,535
(7,789)
3,588,204
750,980
4,339,184
STEADFAST ROOFING HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 32 -
30
Analysis of changes in net funds - company
1 October 2024
Cash flows
30 September 2025
£
£
£
Cash at bank and in hand
1,001,491
(8,380)
993,111
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