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COMPANY REGISTRATION NUMBER: 09064555

Constructionlines Holdings Limited

Financial Statements

30 June 2025

Constructionlines Holdings Limited

Financial Statements

Year ended 30 June 2025

Contents | Page

Strategic report | 1

Directors' report | 3

Independent auditor's report to the members | 5

Consolidated statement of income and retained earnings | 8

Company statement of income and retained earnings | 9

Consolidated statement of financial position | 10

Company statement of financial position | 11

Consolidated statement of cash flows | 12

Notes to the financial statements | 13

Constructionlines Holdings Limited

Strategic Report

Year ended 30 June 2025
Review of the business The group's principal activity continues to be builders merchants operating within the United Kingdom from a location situated at Loscoe, Heanor. The trading company started the financial with strong sales and a fairly buoyant market. During Q4 monthly sales (year on year) showed a small decline in the last 2 months (c2.5%). This continued into the 1st quarter of 2026 financial year, declining 7%. This trend continues through 2026 and we envisage a drop in turnover in the region of 10%. Margins remain intact. Looking forward, we are aiming to maintain turnover despite a flattening of demand and continue to seek and develop existing and new customer relationships, maintaining good supplier relationships and seeking to develop our products and trade to maintain and grow market share. Constructionlines Limited (the trading subsidiary) has maintained its gross margin percentage in spite of a downturn in the year. Overheads are monitored and the company seeks to manage increases in costs wherever possible, such as fixing utility energy prices and safeguarding against the impact of failures within the industries we supply. The company has an excellent leadership team, long standing employees and a solid financial position which enables it to continue to meet its operational and financial obligations. We remain optimistic about our growth and prospects and continue to focus on customer satisfaction, market expansion and investment in our workforce and infrastructure.
Key performance indicators The directors monitor the performance of the subsidiary company by reference to the following KPIs:

|  | 2025 | 2024
|  | £ | £
| Turnover | 33,536,696 | 30,046,776
| Gross profit as percentage of sales | 16 | 17
| Operating profit as a percentage of sales | 6 | 5

The KPIs show that group has remained broadly consistent in its trading performance from 2024, managing to maintain good margins in spite of a slowdown in the housebuilder industry. The gross profit margin has decreased by 0.46% and the operating profit margin has increased by 0.31%.
Results and performance The results of the group for the year, as set out in the statement of income and retained earnings, are summarised below:

|  | 2025 | 2024
|  | £ | £
| Profit before taxation | 1,960,140 | 1,651,052

This report was approved by the board of directors on 25 February 2026 and signed on behalf of the board by:

Mr S McAneaney
Director

Registered office:
Lyndhurst
1 Cranmer Street
Long Eaton
Nottingham
NG10 1NJ

Constructionlines Holdings Limited

Directors' Report

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

Mr P Shaw |
Mr S Tame |
Mr S McAneaney |

Dividends
Particulars of recommended dividends are detailed in note 10 to the financial statements.
Future developments
The directors continually review the business to identify opportunities to be developed to help improve the performance of the company.
Financial instruments
The group's principal financial instruments comprise invoice financing, bank loans and hire purchase contracts. The main purpose of these financial instruments is to manage the group's funding and liquidity requirements.
The group has other financial assets and liabilities such as trade debtors and trade creditors, which arise directly from its operating activities. The principal financial risks to which the group is exposed are those of interest rate, liquidity and credit. Each is managed as set out below.
Interest rate risk
Interest rates are determined by money market conditions outside of the group's control. Interest rates on bank loans and hire purchase contracts are fixed whenever possible.
Liquidity risk
The group manages liquidity risk by maintaining access to invoice financing facilities sufficient to meet anticipated short term funding requirements. As the cash position has improved in the past few years the directors have taken the decision to close the company's invoice financing facility.
Credit risk
The group is exposed to credit risk on trade debtors. Credit limits are set as deemed appropriate for each customer. The group is exposed mainly to customers from the construction industry. Where appropriate, the group endeavours to minimise risks associated by the use of credit insurance.
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 group and the company and 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 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 group and 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 group and the company's auditor is aware of that information.
This report was approved by the board of directors on 25 February 2026 and signed on behalf of the board by:

Mr S McAneaney
Director

Registered office:
Lyndhurst
1 Cranmer Street
Long Eaton
Nottingham
NG10 1NJ

Constructionlines Holdings Limited

Independent Auditor's Report to the Members of Constructionlines Holdings Limited

Year ended 30 June 2025
Opinion
We have audited the financial statements of Constructionlines Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the consolidated statement of income and retained earnings, company statement of income and retained earnings, consolidated statement of financial position, company statement of financial position, consolidated 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 group's and of the parent company's affairs as at 30 June 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; - 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 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 or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The 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 group and the parent 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 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' 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
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: In respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following: - the nature of the business and its industry, the level of autonomy of management and the controls put in place by those charged with governance and business performance. - results of our enquiries of management and those charged with governance regarding their own identification and assessment of the risks of irregularities. -any matters we identified having documented and tested the company's policies and procedures including compliance with laws and regulations, internal controls and also from discussion within the audit engagement team and associated internal specialists regarding how and where fraud might occur and whether there were any potential indicators of fraud. Because of these procedures, we considered the value of stock and recoverability of trade debtors were at significant risk of misstatement. We also obtained an understanding of the legal and regulatory frameworks that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context were Companies Act 2006 (UK), employment law and tax legislations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Russell Eley FCCA
(Senior Statutory Auditor)

For and on behalf of
Xeinadin Audit Limited
Chartered Accountants & statutory auditor
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD

16 March 2026

Constructionlines Holdings Limited

Consolidated Statement of Income and Retained Earnings

Year ended 30 June 2025

| 2025 | 2024
Note | £ | £
Turnover | 4 | 33,536,696 | 30,046,776

Cost of sales | 28,028,542 | 24,974,665
| ------------- | -------------
Gross profit | 5,508,154 | 5,072,111

Administrative expenses | 3,644,618 | 3,501,461
Other operating income | 54,000 | 54,000
|  | ------------ | ------------
Operating profit | 5 | 1,917,536 | 1,624,650

Other interest receivable and similar income | 52,246 | 53,146
Interest payable and similar expenses | 9,642 | 26,744
| ------------ | ------------
Profit before taxation | 1,960,140 | 1,651,052

Tax on profit | 9 | 507,594 | 434,832
| ------------ | ------------
Profit for the financial year and total comprehensive income | 1,452,546 | 1,216,220
| ------------ | ------------

Dividends paid and payable | 10 | ( 1,100,000) | –

Retained earnings at the start of the year | 6,690,009 | 5,473,789
| ------------ | ------------
Retained earnings at the end of the year | 7,042,555 | 6,690,009
| ------------ | ------------

All the activities of the group are from continuing operations.

Constructionlines Holdings Limited

Company Statement of Income and Retained Earnings

Year ended 30 June 2025

| 2025 | 2024
Note | £ | £
Profit for the financial year and total comprehensive income | 1,099,714 | ( 325)
Dividends paid and payable | 10 | ( 1,100,000) | –

Retained earnings at the start of the year | 48,256 | 48,581
| ------------ | --------
Retained earnings at the end of the year | 47,970 | 48,256
| ------------ | --------

Constructionlines Holdings Limited

Consolidated Statement of Financial Position

30 June 2025

| 2025 |  | 2024
Note | £ |  | £

Fixed assets

Tangible assets | 11 | 1,252,482 |  | 1,136,358

Current assets

Stocks | 13 | 1,438,144 | 1,250,718 |
Debtors | 14 | 7,218,621 | 7,520,644 |
Cash at bank and in hand | 3,702,662 | 3,223,127 |
| ------------- | ------------- |
| 12,359,427 | 11,994,489 |

Creditors: Amounts falling due within one year | 16 | 6,271,790 | 6,244,612 |
| ------------- | ------------- |
Net current assets | 6,087,637 |  | 5,749,877
| ------------ |  | ------------
Total assets less current liabilities | 7,340,119 |  | 6,886,235

Creditors: Amounts falling due after more than one year | 17 | 128,634 |  | 66,666

Provisions | 19 | 118,930 |  | 79,560
| ------------ |  | ------------
Net assets | 7,092,555 |  | 6,740,009
| ------------ |  | ------------

Capital and reserves

Called up share capital | 22 | 50,000 |  | 50,000
Profit and loss account | 7,042,555 |  | 6,690,009
| ------------ |  | ------------
Shareholders funds | 7,092,555 |  | 6,740,009
| ------------ |  | ------------

These financial statements were approved by the board of directors and authorised for issue on 25 February 2026 , and are signed on behalf of the board by:

Mr P Shaw
Director

Company registration number: 09064555

Constructionlines Holdings Limited

Company Statement of Financial Position

30 June 2025

| 2025 |  | 2024
Note | £ |  | £

Fixed assets

Investments | 12 | 50,000 |  | 50,000

Current assets

Debtors | 14 | 441,711 | 587,423 |
Cash at bank and in hand | 2,980 | 3,266 |
| --------- | --------- |
| 444,691 | 590,689 |

Creditors: Amounts falling due within one year | 16 | 396,721 | 542,433 |
| --------- | --------- |
Net current assets | 47,970 |  | 48,256
| -------- |  | --------
Total assets less current liabilities | 97,970 |  | 98,256
| -------- |  | --------

Capital and reserves

Called up share capital | 22 | 50,000 |  | 50,000
Profit and loss account | 47,970 |  | 48,256
| -------- |  | --------
Shareholders funds | 97,970 |  | 98,256
| -------- |  | --------

The profit for the financial year of the parent company was £ 1,099,714 (2024: £ 325 loss).
These financial statements were approved by the board of directors and authorised for issue on 25 February 2026 , and are signed on behalf of the board by:

Mr P Shaw
Director

Company registration number: 09064555

Constructionlines Holdings Limited

Consolidated Statement of Cash Flows

Year ended 30 June 2025

| 2025 | 2024
Note | £ | £

Cash flows from operating activities

Profit for the financial year | 1,452,546 | 1,216,220

Adjustments for: |  |
Depreciation of tangible assets | 171,087 | 161,599
Other interest receivable and similar income | ( 52,246) | ( 53,146)
Interest payable and similar expenses | 9,642 | 26,744
Loss/(gains) on disposal of tangible assets | 2,000 | ( 7,655)
Tax on profit/(loss) | 507,594 | 434,832
Accrued expenses/(income) | 25,400 | ( 21,400)

Changes in: |  |
Stocks | ( 187,426) | 192,752
Trade and other debtors | 302,023 | ( 1,070,233)
Trade and other creditors | ( 41,672) | ( 536,797)
| ------------ | ------------
Cash generated from operations | 2,188,948 | 342,916

Interest paid | ( 9,642) | ( 26,744)
Interest received | 52,246 | 53,146
Tax paid | ( 388,567) | ( 579,367)
| ------------ | ---------
Net cash from/(used in) operating activities | 1,842,985 | ( 210,049)
| ------------ | ---------

Cash flows from investing activities

Purchase of tangible assets | ( 289,211) | ( 18,743)
Proceeds from sale of tangible assets | – | 15,250
| ------------ | ---------
Net cash used in investing activities | ( 289,211) | ( 3,493)
| ------------ | ---------

Cash flows from financing activities

Proceeds from borrowings | ( 190,078) | ( 746,356)
Payments of finance lease liabilities | 180,706 | ( 76,897)
Dividends paid | ( 1,100,000) | –
| ------------ | ---------
Net cash used in financing activities | ( 1,109,372) | ( 823,253)
| ------------ | ---------

Net increase/(decrease) in cash and cash equivalents | 444,402 | ( 1,036,795)
Cash and cash equivalents at beginning of year | 3,082,063 | 4,118,858
|  | ------------ | ------------
Cash and cash equivalents at end of year | 15 | 3,526,465 | 3,082,063
|  | ------------ | ------------

Constructionlines Holdings 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 Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company.
Consolidation
The financial statements consolidate the financial statements of the Group and all of its subsidiary undertakings. The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty 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: Depreciation charge is calculated based on estimates and assumptions on asset useful economic lives and expected residual values.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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:

| Freehold property | - | 5% straight line
| Plant and machinery | - | 20% straight line
| Fixtures and fittings | - | 25% - 33.33% reducing balance
| Motor vehicles | - | 25% reducing balance

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.
Investments in joint ventures
Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.
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.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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.
4. Turnover
Turnover arises from:

| 2025 |  | 2024
| £ |  | £
Sale of goods | 33,536,696 |  | 30,046,776
| ------------- |  | -------------

The whole of the turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.
5. Operating loss
Operating profit or loss is stated after charging/crediting:

| 2025 |  | 2024
| £ |  | £
Depreciation of tangible assets | 171,087 |  | 161,599
Loss/(gains) on disposal of tangible assets | 2,000 |  | ( 7,655)
Impairment of trade debtors | (10,027) |  | 1,369
| --------- |  | ---------

6. Auditor's remuneration

| 2025 |  | 2024
| £ |  | £
Fees payable for the audit of the financial statements | 11,500 |  | 11,500
| -------- |  | --------

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

| 2025 |  | 2024
| No. |  | No.
Distribution staff | 24 |  | 24
Administrative staff | 17 |  | 18
Management staff | 3 |  | 3
| ---- |  | ----
| 44 |  | 45
| ---- |  | ----

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

| 2025 |  | 2024
| £ |  | £
Wages and salaries | 1,781,985 |  | 1,706,728
Social security costs | 202,045 |  | 181,222
Other pension costs | 49,198 |  | 36,590
| ------------ |  | ------------
| 2,033,228 |  | 1,924,540
| ------------ |  | ------------

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

| 2025 |  | 2024
| £ |  | £
Remuneration | 127,631 |  | 112,278
Company contributions to defined contribution pension plans | 10,000 |  | –
| --------- |  | ---------
| 137,631 |  | 112,278
| --------- |  | ---------

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

| 2025 | 2024
| No. | No.
Defined contribution plans | 1 | –
| ---- | ----

9. Tax on profit/(loss)
Major components of tax expense

| 2025 |  | 2024
| £ |  | £

Current tax:

UK current tax income | 468,196 |  | 460,325
Adjustments in respect of prior periods | 28 |  | –
| --------- |  | ---------
Total current tax | 468,224 |  | 460,325
| --------- |  | ---------

Deferred tax:

Origination and reversal of timing differences | 39,370 |  | ( 25,493)
| --------- |  | ---------
Tax on profit/(loss) | 507,594 |  | 434,832
| --------- |  | ---------

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

| 2025 |  | 2024
| £ |  | £
Profit on ordinary activities before taxation | 1,960,140 |  | 1,651,052
| ------------ |  | ------------
Profit on ordinary activities by rate of tax | 490,035 |  | 412,735
Adjustment to tax charge in respect of prior periods | 28 |  | –
Effect of expenses not deductible for tax purposes | 9,067 |  | 16,022
Effect of capital allowances and depreciation | 8,464 |  | 6,075
| ------------ |  | ------------
Tax on profit/(loss) | 507,594 |  | 434,832
| ------------ |  | ------------

Factors that may affect future tax expense
If the group's profits remain in excess of £250,000, the rate of corporation tax payable by the group will be at 25%.
10. Dividends

| 2025 | 2024
| £ | £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) | 1,100,000 | –
| ------------ | ----

11. Tangible assets

Group | Freehold property | Plant and machinery | Fixtures and fittings | Motor vehicles | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 July 2024 | 1,017,711 | 64,072 | 52,085 | 1,601,219 | 2,735,087
Additions | – | – | 5,611 | 283,600 | 289,211
Disposals | – | ( 9,585) | – | – | ( 9,585)
| ------------ | -------- | -------- | ------------ | ------------
At 30 June 2025 | 1,017,711 | 54,487 | 57,696 | 1,884,819 | 3,014,713
| ------------ | -------- | -------- | ------------ | ------------
Depreciation |  |  |  |  |
At 1 July 2024 | 239,998 | 52,165 | 29,939 | 1,276,627 | 1,598,729
Charge for the year | 33,856 | 4,255 | 12,936 | 120,040 | 171,087
Disposals | – | ( 7,585) | – | – | ( 7,585)
| ------------ | -------- | -------- | ------------ | ------------
At 30 June 2025 | 273,854 | 48,835 | 42,875 | 1,396,667 | 1,762,231
| ------------ | -------- | -------- | ------------ | ------------
Carrying amount |  |  |  |  |
At 30 June 2025 | 743,857 | 5,652 | 14,821 | 488,152 | 1,252,482
| ------------ | -------- | -------- | ------------ | ------------
At 30 June 2024 | 777,713 | 11,907 | 22,146 | 324,592 | 1,136,358
| ------------ | -------- | -------- | ------------ | ------------

The company has no tangible assets.
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Group | Motor vehicles
| £
At 30 June 2025 | 223,269
| ---------
At 30 June 2024 | 112,966
| ---------

12. Investments
The group has no investments.

Company | Shares in group undertakings
| £
Cost |
At 1 July 2024 and 30 June 2025 | 50,000
| --------
Impairment |
At 1 July 2024 and 30 June 2025 | –
| --------

Carrying amount |
At 1 July 2024 and 30 June 2025 | 50,000
| --------
At 30 June 2024 | 50,000
| --------

Subsidiaries, associates and other investments
Details of the investments in which the parent company has an interest of 20% or more are as follows:

| Registered office | Class of share | Percentage of shares held
Subsidiary undertakings |  |  |
Constructionlines Limited | Heanor Road | Ordinary | 100
| Loscoe |  |
| Derbyshire |  |
| DE75 7JT |  |

13. Stocks

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Finished goods and goods for resale | 1,438,144 | 1,250,718 | – | –
| ------------ | ------------ | ---- | ----

14. Debtors

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Trade debtors | 6,588,977 | 6,797,736 | – | –
Prepayments and accrued income | 69,480 | 61,117 | – | –
Directors loan account | 443,173 | 641,711 | 441,711 | 587,423
Other debtors | 116,991 | 20,080 | – | –
| ------------ | ------------ | --------- | ---------
| 7,218,621 | 7,520,644 | 441,711 | 587,423
| ------------ | ------------ | --------- | ---------

15. Cash and cash equivalents
Cash and cash equivalents comprise the following:

| 2025 | 2024
| £ | £
Cash at bank and in hand | 3,702,662 | 3,223,127
Bank overdrafts | ( 176,197) | ( 141,064)
| ------------ | ------------
| 3,526,465 | 3,082,063
| ------------ | ------------

16. Creditors: Amounts falling due within one year

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Bank loans and overdrafts | 176,197 | 322,882 | – | –
Trade creditors | 5,382,214 | 5,349,403 | – | –
Amounts owed to group undertakings | – | – | 396,721 | 542,433
Accruals and deferred income | 55,200 | 29,800 | – | –
Corporation tax | 229,654 | 149,997 | – | –
Social security and other taxes | 262,357 | 337,344 | – | –
Obligations under finance leases and hire purchase contracts | 70,958 | 18,886 | – | –
Director loan accounts | 81,446 | 23,040 | – | –
Other creditors | 10,764 | 10,260 | – | –
Pension scheme loan | 3,000 | 3,000 | – | –
| ------------ | ------------ | --------- | ---------
| 6,271,790 | 6,244,612 | 396,721 | 542,433
| ------------ | ------------ | --------- | ---------

The bank loan and obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. The total value of secured liabilities falling due in under 1 year is £70,958 (2024 - £200,704).
17. Creditors: Amounts falling due after more than one year

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Bank loans and overdrafts | – | 66,666 | – | –
Obligations under finance leases and hire purchase contracts | 128,634 | – | – | –
| --------- | -------- | ---- | ----
| 128,634 | 66,666 | – | –
| --------- | -------- | ---- | ----

Bank loans are secured by a legal first charge on land and buildings, situated at Heanor Road, Loscoe. The banking facilities provided are secured by a debenture creating a fixed and floating charge over the assets of the company.
Interest of 2.70% above the Base Rate per annum is incurred on the bank loan related to the purchase of Heanor Road, Loscoe. The loan is repayable in monthly instalments and the final repayment is due 7 January 2029. Interest of 1.92% above the Base Rate per annum is incurred on the Coronavirus Business Interruption Loan (CBIL). The loan is repayable in monthly instalments commencing December 2020 and the final repayment is due 19 May 2027. Government Grants cover the first 12 months of interest incurred on the CBIL.
The bank loan and obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. The total value of secured liabilities falling due after more than 1 year is £128,634 (2024 - £66,666).
18. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Not later than 1 year | 70,958 | 18,886 | – | –
Later than 1 year and not later than 5 years | 128,634 | – | – | –
| --------- | -------- | ---- | ----
| 199,592 | 18,886 | – | –
| --------- | -------- | ---- | ----

19. Provisions

Group | Deferred tax (note 20)
| £
At 1 July 2024 | 79,560
Additions | 39,370
| ---------
At 30 June 2025 | 118,930
| ---------

The company does not have any provisions.
20. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Included in provisions (note 19) | 118,930 | 79,560 | – | –
| --------- | -------- | ---- | ----

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

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Accelerated capital allowances | 118,930 | 79,560 | – | –
| --------- | -------- | ---- | ----

21. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 49,198 (2024: £ 36,590 ).
22. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 37,500 | 37,500 | 37,500 | 37,500
A Ordinary shares of £ 1 each | 12,500 | 12,500 | 12,500 | 12,500
| -------- | -------- | -------- | --------
| 50,000 | 50,000 | 50,000 | 50,000
| -------- | -------- | -------- | --------

The different Ordinary Share classes both hold the right to attend and vote at meetings, the right to participate in dividends and the right to participate in distributions. Dividends may be declared on each class of share independently of any dividend on any other class of share.
23. Analysis of changes in net debt

| At 1 Jul 2024 | Cash flows | At 30 Jun 2025
| £ | £ | £
Cash at bank and in hand | 3,223,127 | 479,535 | 3,702,662
Bank overdrafts | (141,064) | (35,133) | (176,197)
Debt due within one year | (223,744) | 71,340 | (152,404)
Debt due after one year | (66,666) | (61,968) | (128,634)
| ------------ | --------- | ------------
| 2,791,653 | 453,774 | 3,245,427
| ------------ | --------- | ------------

24. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| Group | Company
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Not later than 1 year | 36,297 | – | – | –
Later than 1 year and not later than 5 years | 9,368 | – | – | –
| -------- | ---- | ---- | ----
| 45,665 | – | – | –
| -------- | ---- | ---- | ----

25. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company and its subsidiary undertakings:

| 2025
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mr P Shaw | 242,407 | 360,016 | ( 464,827) | 137,596
| Mr S Tame | 279,088 | 432,288 | ( 510,826) | 200,550
| Mr S McAneaney | 97,176 | 180,389 | ( 253,984) | 23,581
|  | --------- | --------- | ------------ | ---------
|  | 618,671 | 972,693 | ( 1,229,637) | 361,727
|  | --------- | --------- | ------------ | ---------

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mr P Shaw | – | 262,913 | ( 20,506) | 242,407
| Mr S Tame | – | 379,192 | ( 100,104) | 279,088
| Mr S McAneaney | – | 226,639 | ( 129,463) | 97,176
|  | ---- | --------- | --------- | ---------
|  | – | 868,744 | ( 250,073) | 618,671
|  | ---- | --------- | --------- | ---------

The company has loans with the directors which are interest free and repayable on demand.

Constructionlines Holdings Limited

Notes to the Financial Statements (continued)

Year ended 30 June 2025
26. Related party transactions
Group
During the year the group entered into the following transactions with related parties:

| Transaction value | Balance owed by/(owed to)
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Companies in which directors have an shareholding interest | 419,179 | 316,111 | 100,001 | –
Pension fund | 36,000 | 36,000 | ( 3,000) | ( 3,000)
Subsidiary company | – | – | – | ( 542,433)
| --------- | --------- | --------- | ---------

The transactions relating to companies in which the directors have a shareholding interest relates to amounts advanced to two companies in which the directors jointly share a controlling interest. The loans are interest free and there are no fixed terms of repayment. Management charges of £54,000 (2024 - £54,000) is payable by the companies to Constructionlines Limited. These are included within the value of transactions above. The pension fund loan loan represents rents received on behalf of the pension fund.
Company
During the year the company entered into the following transactions with related parties:

| Transaction value | Balance owed by/(owed to)
| 2025 | 2024 | 2025 | 2024
| £ | £ | £ | £
Subsidiary company | – | – | ( 396,721) | ( 542,433)
| ---- | ---- | --------- | ---------