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COMPANY REGISTRATION NUMBER: 01345422

Box & Charnock Limited

Financial Statements

30 June 2025

Box & Charnock Limited

Financial Statements

Year ended 30 June 2025

Contents | Page

Strategic report | 1

Directors' report | 3

Independent auditor's report to the member | 5

Statement of income and retained earnings | 9

Statement of financial position | 10

Statement of cash flows | 11

Notes to the financial statements | 12

Box & Charnock Limited

Strategic Report

Year ended 30 June 2025
Business review and future developments
The principal activity of the company continues to be the provision of mechanical, electrical, plumbing and heating services, particularly in new build residential/mixed use developments and education. In addition to our principal activities, we are focusing on renewable energy and are training our employees to accommodate these new products.
Our vision is to become a market leader in our field and this we will realise through: operational excellence; consistently delivering a top-quality product; sustainable growth; maintaining a diverse customer base with a strong emphasis on client relationships; investment in our people and empowering staff to develop to their full potential.
During the year turnover increased to £28m (2024: £25m) and pre-tax profits decreased to £131k (2024: £471k). The company has a strong balance sheet with £6.2m (2024 - £6.1m)of shareholders' funds and net cash balances increased to £2.7m (2024: £707k). Profits for the year have been significantly impacted by one project which had overrun by 2 years increasing our costs and although this delay was out of our control the costs could not be fully recovered. The project has now been settled, with the additional costs crystalizing within this financial year. The business is very optimistic about our industry and the business's turnover will quickly grow later this year. The business remains robust with a healthy order book and long-term demand within the sector.
The company has an experienced and capable management structure, a strong financial position and an increase in forward orders.
Principal risks and uncertainties
Risks and uncertainties that arise in the conduct of the company's business are kept under regular review by the directors. The principal risks and uncertainties are considered to be the retention of clients and retention of skilled employees.
The company is exposed to various financial risks that arise as a normal part of its trading activities. The primary risks include cash flow, liquidity risk and credit risk.
Financial instruments
The company closely monitors its financial assets and liabilities such as trade debtors and trade creditors.
Liquidity risk
The company manages its cash and borrowing requirements to maximise interest income and minimise interest expense, whilst ensuring that the company has sufficient liquid resources to meet the operating needs of the business.
Credit risk
Investments of cash surpluses and borrowings are made through banks approved by the board. All customers who wish to trade on credit terms are subject to credit verification procedures. The efficiency of collection of trade debtors and the extension of credit to those clients are carefully controlled in order to minimise cash flow and credit risk.
This report was approved by the board of directors on 17 February 2026 and signed on behalf of the board by:

S D Box
Company Secretary

Registered office:
15 Stephenson Court
Fraser Road
Priory Business Park
Bedford
MK44 3WJ

Box & Charnock Limited

Directors' Report

Year ended 30 June 2025
The directors present their report and the financial statements of the company for the year ended 30 June 2025 .
Directors
The directors who served the company during the year were as follows:

Mr J P Benson |
Mr S D Box |

Dividends
The directors do not recommend the payment of a dividend.
Disclosure of information in the strategic report
Financial risk management objectives and policies and future developments are set out in the strategic report in accordance with section 414C(11) Companies Act 2006.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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 profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 17 February 2026 and signed on behalf of the board by:

S D Box
Company Secretary

Registered office:
15 Stephenson Court
Fraser Road
Priory Business Park
Bedford
MK44 3WJ

Box & Charnock Limited

Independent Auditor's Report to the Member of Box & Charnock Limited

Year ended 30 June 2025
Opinion
We have audited the financial statements of Box & Charnock Limited (the 'company') for the year ended 30 June 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the directors' report 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.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We obtained an understanding of the legal and regulatory framework applicable to the company and how the company is complying with the framework. - We enquired of management about their own identification and assessment of risks of irregularities and reviewed the minutes of meetings of those charged with governance. - We considered the susceptibility of the financial statements to material misstatement, including how fraud might occur, and we obtained an understanding of the company's activities, the scope of its authorisation and the effectiveness of its control environment. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report
This report is made solely to the company's member, 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 member 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 company and the company's member as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Robert Upton FCCA
(Senior Statutory Auditor)

For and on behalf of
Collett Hulance Accountants Limited
Chartered Certified Accountants & Statutory Auditor
40 Kimbolton Road
Bedford
MK40 2NR

18 February 2026

Box & Charnock Limited

Statement of Income and Retained Earnings

Year ended 30 June 2025

| 2025 | 2024
Note | £ | £
Turnover | 4 | 28,192,060 | 24,915,653

Cost of sales | 26,677,902 | 23,233,416
| ------------- | -------------
Gross profit | 1,514,158 | 1,682,237

Administrative expenses | 1,474,105 | 1,250,123
Other operating income | 5 | 58,789 | 17,332
|  | ------------ | ------------
Operating profit | 6 | 98,842 | 449,446

Other interest receivable and similar income | 9 | 32,601 | 22,022
Interest payable and similar expenses | 10 | 35 | –
| ------------ | ------------
Profit before taxation | 131,408 | 471,468

Tax on profit | 11 | 38,034 | 26,749
| --------- | ---------
Profit for the financial year and total comprehensive income | 93,374 | 444,719
| --------- | ---------

Retained earnings at the start of the year | 5,891,771 | 5,447,052
| ------------ | ------------
Retained earnings at the end of the year | 5,985,145 | 5,891,771
| ------------ | ------------

All the activities of the company are from continuing operations.

Box & Charnock Limited

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 12 |  | 143,680 | 119,478

Current assets

Stocks | 13 | 294,767 |  | 438,548
Debtors | 14 | 8,902,476 |  | 9,305,929
Cash at bank and in hand | 2,749,854 |  | 707,029
| ------------- |  | -------------
| 11,947,097 |  | 10,451,506

Creditors: amounts falling due within one year | 15 | 5,863,124 |  | 4,443,041
| ------------- |  | -------------
Net current assets |  | 6,083,973 | 6,008,465
|  | ------------ | ------------
Total assets less current liabilities |  | 6,227,653 | 6,127,943

Provisions

Taxation including deferred tax | 16 |  | 31,458 | 25,122
|  | ------------ | ------------
Net assets |  | 6,196,195 | 6,102,821
|  | ------------ | ------------

Capital and reserves

Called up share capital | 20 |  | 211,050 | 211,050
Profit and loss account | 21 |  | 5,985,145 | 5,891,771
|  | ------------ | ------------
Shareholder funds |  | 6,196,195 | 6,102,821
|  | ------------ | ------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 17 February 2026 , and are signed on behalf of the board by:

Mr J P Benson | Mr S D Box
Director | Director

Company registration number: 01345422

Box & Charnock Limited

Statement of Cash Flows

Year ended 30 June 2025

| 2025 | 2024
| £ | £

Cash flows from operating activities

Profit for the financial year | 93,374 | 444,719

Adjustments for: |  |
Depreciation of tangible assets | 28,365 | 23,589
Other interest receivable and similar income | ( 32,601) | ( 22,022)
Interest payable and similar expenses | 35 | –
Loss on disposal of tangible assets | 3,128 | 6
Tax on profit | 38,034 | 26,749
Accrued expenses/(income) | 100,536 | ( 229,692)

Changes in: |  |
Stocks | 143,781 | ( 37,460)
Trade and other debtors | 403,453 | 322,199
Trade and other creditors | 1,316,553 | ( 1,189,881)
| ------------ | ------------
Cash generated from operations | 2,094,658 | ( 661,793)

Interest paid | ( 35) | –
Interest received | 32,601 | 22,022
Tax paid | ( 30,704) | ( 170,418)
| ------------ | ---------
Net cash from/(used in) operating activities | 2,096,520 | ( 810,189)
| ------------ | ---------

Cash flows from investing activities

Purchase of tangible assets | ( 55,695) | ( 58,581)
| ------------ | ---------
Net cash used in investing activities | ( 55,695) | ( 58,581)
| ------------ | ---------

Cash flows from financing activities

Proceeds from borrowings | 2,000 | –
| ------------ | ---------
Net cash from financing activities | 2,000 | –
| ------------ | ---------

Net increase/(decrease) in cash and cash equivalents | 2,042,825 | ( 868,770)
Cash and cash equivalents at beginning of year | 707,029 | 1,575,799
| ------------ | ------------
Cash and cash equivalents at end of year | 2,749,854 | 707,029
| ------------ | ------------

Box & Charnock Limited

Notes to the Financial Statements

Year ended 30 June 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Stephenson Court, Fraser Road, Priory Business Park, Bedford, MK44 3WJ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires the use of accounting estimates. It also requires management to exercise its judgement in applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the Financial Statements. Key accounting estimates and assumptions Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Revenue recognition on long-term contracts Recognition of revenue and profit is based on judgements made in respect of the ultimate profitability of a contract. Such judgements are arrived at through the use of estimates in relation to the costs and value of work performed to date and to be performed in bringing contracts to completion, including satisfaction of warranty responsibilities. The company has appropriate control procedures to ensure all estimates are determined on a consistent basis and subject to appropriate review and authorisation. Amounts recoverable on contracts at 30 June 2025 are £6,013,463. Trade Debtors Amounts recoverable from customers on completion of long-term contracts is subject to various factors, including the occurrence and satisfaction of warranty responsibilities. The company has appropriate control procedures to ensure that amounts recoverable are determined on a consistent basis and subject to appropriate review and authorisation. Amounts recoverable from customers are recognised when, and to the extent that, there is reasonable prospect of receipt. Amounts recoverable from customers at 30 June 2025 are £2,561,355. Useful economic lives of tangible fixed assets The useful economic lives used by the company in respect of tangible fixed assets are set out 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 June 2025 was £143,680 after a depreciation charge in the period of £28,365. Stock valuation Stocks of raw material and finished goods are valued at the lower of cost and the estimated selling price less costs to sell. In assessing the value of the company's stock, consideration is given to any impairment in its value as a result of any stock which is likely to become obsolete or which has an estimated selling price less than its cost price. The value of raw material and finished goods at 30 June 2025 was £294,767.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue represents, in the case of long-term contracts, the proportion of contract value applicable to the activity in the year, ascertained by reference to the costs incurred to date. These costs are matched with the revenue, resulting in the reporting of attributable profit in proportion to contract activity. Where the outcome of a contract cannot be foreseen with reasonable certainty but no loss is expected, revenue and costs are recorded as the activity progresses using a zero estimate of profit. Estimates of total contract costs and revenues are reviewed periodically and the cumulative effects of changes are recognised in the period in which they are identified. All known or anticipated losses are provided for in full as soon as they are foreseen. All costs incurred are recorded as cost of sales. Revenues recognised in excess of amounts billed are classified as amounts recoverable on contacts and included in debtors. Where cash is received in advance of the contract valuation, the balance is recognised as part of creditors due within one year, as payments received on account.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 15% reducing balance
| Fixtures and fittings | - | 20% reducing balance
| Motor vehicles | - | 15% straight line
| Office equipment | - | 33% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Turnover
Turnover arises from:

| 2025 | 2024
| £ | £
Construction contracts | 28,192,060 | 24,915,653
| ------------- | -------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Other operating income

| 2025 | 2024
| £ | £
Rental income | 58,789 | 17,332
| -------- | --------

6. Operating profit
Operating profit or loss is stated after charging:

| 2025 | 2024
| £ | £
Depreciation of tangible assets | 28,365 | 23,589
Loss on disposal of tangible assets | 3,128 | 6
Impairment of trade debtors | 7,749 | –
Operating lease rentals | 69,200 | 69,200
Fees payable for the audit of the financial statements | 18,000 | 18,000
| -------- | --------

7. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:

| 2025 | 2024
| No. | No.
Production staff | 27 | 22
Administrative staff | 14 | 16
Management staff | 2 | 2
| ---- | ----
| 43 | 40
| ---- | ----

The aggregate payroll costs incurred during the year, relating to the above, were:

| 2025 | 2024
| £ | £
Wages and salaries | 1,986,863 | 1,714,872
Social security costs | 216,476 | 183,752
Other pension costs | 76,949 | 24,629
| ------------ | ------------
| 2,280,288 | 1,923,253
| ------------ | ------------

8. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:

| 2025 | 2024
| £ | £
Remuneration | 335,453 | 308,822
| --------- | ---------

The number of directors who accrued benefits under company pension plans was as follows:

| 2025 | 2024
| No. | No.
Defined contribution plans | 2 | 2
| ---- | ----

Remuneration of the highest paid director in respect of qualifying services:

| 2025 | 2024
| £ | £
Aggregate remuneration | 170,123 | 154,559
| --------- | ---------

The group considers the key management personnel to comprise the directors only. Compensation paid to key management personnel is therefore the same as the disclosure of directors' remuneration above.
9. Other interest receivable and similar income

| 2025 | 2024
| £ | £
Interest on cash and cash equivalents | 32,601 | 21,050
HMRC interest received | – | 972
| -------- | --------
| 32,601 | 22,022
| -------- | --------

10. Interest payable and similar expenses

| 2025 | 2024
| £ | £
Other interest payable and similar charges | 35 | –
| ---- | ----

11. Tax on profit
Major components of tax expense

| 2025 | 2024
| £ | £

Current tax:

UK current tax expense | 35,568 | 119,693
Adjustments in respect of prior periods | ( 3,870) | ( 101,994)
| -------- | ---------
Total current tax | 31,698 | 17,699
| -------- | ---------

Deferred tax:

Origination and reversal of timing differences | 6,336 | 9,050
| -------- | --------
Tax on profit | 38,034 | 26,749
| -------- | --------

Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

| 2025 | 2024
| £ | £
Profit on ordinary activities before taxation | 131,408 | 471,468
| --------- | ---------
Profit on ordinary activities by rate of tax | 32,852 | 117,867
Adjustment to tax charge in respect of prior periods | ( 3,870) | ( 101,994)
Effect of expenses not deductible for tax purposes | 9,589 | 10,876
Effect of capital allowances and depreciation | ( 7,117) | ( 9,050)
Marginal relief | 244 | –
Effect of accelerated capital allowances | 6,336 | 9,050
| --------- | ---------
Tax on profit | 38,034 | 26,749
| --------- | ---------

Factors that may affect future tax expense
Future tax charges will be affected by proposed reductions in the UK corporation tax rate.
12. Tangible assets

| Plant and machinery | Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 July 2024 | 42,835 | 84,915 | 239,368 | 70,185 | 437,303
Additions | – | – | 55,695 | – | 55,695
Disposals | ( 19,848) | ( 18,346) | – | ( 61,097) | ( 99,291)
| -------- | -------- | --------- | -------- | ---------
At 30 June 2025 | 22,987 | 66,569 | 295,063 | 9,088 | 393,707
| -------- | -------- | --------- | -------- | ---------
Depreciation |  |  |  |  |
At 1 July 2024 | 23,965 | 76,669 | 149,357 | 67,834 | 317,825
Charge for the year | 2,834 | 1,651 | 21,720 | 2,160 | 28,365
Disposals | ( 17,250) | ( 17,816) | – | ( 61,097) | ( 96,163)
| -------- | -------- | --------- | -------- | ---------
At 30 June 2025 | 9,549 | 60,504 | 171,077 | 8,897 | 250,027
| -------- | -------- | --------- | -------- | ---------
Carrying amount |  |  |  |  |
At 30 June 2025 | 13,438 | 6,065 | 123,986 | 191 | 143,680
| -------- | -------- | --------- | -------- | ---------
At 30 June 2024 | 18,870 | 8,246 | 90,011 | 2,351 | 119,478
| -------- | -------- | --------- | -------- | ---------

13. Stocks

| 2025 | 2024
| £ | £
Raw materials and consumables | 294,767 | 438,548
| --------- | ---------

14. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 2,561,355 | 2,442,783
Amounts owed by group undertakings | 868 | 890
Amounts owed by customers on construction contracts | 6,013,463 | 6,464,520
Prepayments and accrued income | 17,329 | 17,527
Directors loan account | – | 98,000
Other debtors | 309,461 | 282,209
| ------------ | ------------
| 8,902,476 | 9,305,929
| ------------ | ------------

15. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 4,491,512 | 3,163,774
Accruals and deferred income | 1,224,404 | 1,123,868
Corporation tax | 35,568 | 34,574
Social security and other taxes | 97,000 | 85,495
Director loan accounts | 2,000 | –
Other creditors | 12,640 | 35,330
| ------------ | ------------
| 5,863,124 | 4,443,041
| ------------ | ------------

16. Provisions

| Deferred tax (note 17)
| £
At 1 July 2024 | 25,122
Additions | 6,336
| --------
At 30 June 2025 | 31,458
| --------

17. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2025 | 2024
| £ | £
Included in provisions (note 16) | 31,458 | 25,122
| -------- | --------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2025 | 2024
| £ | £
Accelerated capital allowances | 31,458 | 25,122
| -------- | --------

18. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 76,949 (2024: £ 24,629 ).
19. Financial instruments
The carrying amount for each category of financial instrument is as follows:

| 2025 | 2024
| £ | £

Financial assets that are debt instruments measured at amortised cost

Financial assets that are debt instruments measured at amortised cost | 2,536,565 | 2,549,616
| ------------ | ------------

Financial liabilities measured at amortised cost

Financial liabilities measured at amortised cost | 4,522,868 | 3,199,573
| ------------ | ------------

Financial assets that are debt instruments measured at amortised cost comprise trade debtors, amounts owed by group undertakings, directors' loans and £18,025 (2024: £7,943) of other debtors. Financial liabilities measured at amortised cost comprise trade creditors excluding £25,000 credit note provision (2024: £25,000), directors' loans and £12,640 (2024: £10,799) of other creditors.
20. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 211,050 | 211,050 | 211,050 | 211,050
| --------- | --------- | --------- | ---------

21. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
22. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 69,200 | 69,200
Later than 1 year and not later than 5 years | 92,267 | 161,467
| --------- | ---------
| 161,467 | 230,667
| --------- | ---------

23. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2025
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mr J P Benson | 100,000 | – | ( 100,000) | –
| Mr S D Box | ( 2,000) | – | – | ( 2,000)
|  | --------- | ---- | --------- | -------
|  | 98,000 | – | ( 100,000) | ( 2,000)
|  | --------- | ---- | --------- | -------

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mr J P Benson | 50,000 | 50,000 | – | 100,000
| Mr S D Box | – | ( 2,000) | – | ( 2,000)
|  | -------- | -------- | ---- | ---------
|  | 50,000 | 48,000 | – | 98,000
|  | -------- | -------- | ---- | ---------

24. Related party transactions
Box & Charnock Holdings Ltd is the company's immediate and ultimate parent undertaking. Dividends of £nil (2024: £nil) were paid by the company to Box & Charnock Holdings Ltd. At 30 June 2025 £868 (2024: £890) was due to the company from Box & Charnock Holdings Ltd. The directors are beneficiaries of a directors' pension scheme. During the year the company occupied premises owned by the directors' pension scheme for which the amount charged in these financial statements was £69,200 (2024: £69,200). During the year the company rented storage space owned by Mr S Box totalling £7,200 (2024: £7,200).
25. Controlling party
The company is a wholly owned subsidiary of Box & Charnock Holdings Ltd , a company registered in England and Wales, whose registered office is 15 Stephenson Court, Fraser Road, Priory Business Park, Bedford, MK44 3WJ. The company's accounts are consolidated within Box & Charnock Holdings Ltd. The consolidated accounts of Box & Charnock Holdings Ltd are publicly available via the Companies House website or from 15 Stephenson Court, Fraser Road, Priory Business Park, Bedford, MK44 3WJ .