IRIS Accounts Production v25.4.0.155 SC262465 Board of Directors Board of Directors 1.7.24 30.6.25 30.6.25 Medium entities true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC262465 2024-06-30 SC262465 2025-06-30 SC262465 2024-07-01 2025-06-30 SC262465 2023-06-30 SC262465 2023-07-01 2024-06-30 SC262465 2024-06-30 SC262465 ns15:Scotland 2024-07-01 2025-06-30 SC262465 ns14:PoundSterling 2024-07-01 2025-06-30 SC262465 ns10:Director1 2024-07-01 2025-06-30 SC262465 ns10:Director2 2024-07-01 2025-06-30 SC262465 ns10:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 SC262465 ns10:MediumEntities 2024-07-01 2025-06-30 SC262465 ns10:Audited 2024-07-01 2025-06-30 SC262465 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-07-01 2025-06-30 SC262465 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-07-01 2025-06-30 SC262465 ns10:FullAccounts 2024-07-01 2025-06-30 SC262465 ns10:OrdinaryShareClass1 2024-07-01 2025-06-30 SC262465 ns10:Director3 2024-07-01 2025-06-30 SC262465 ns10:Director4 2024-07-01 2025-06-30 SC262465 ns10:RegisteredOffice 2024-07-01 2025-06-30 SC262465 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 SC262465 ns5:RetainedEarningsAccumulatedLosses 2023-06-30 SC262465 ns5:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 SC262465 ns5:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 SC262465 ns5:RetainedEarningsAccumulatedLosses 2025-06-30 SC262465 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 SC262465 ns5:CurrentFinancialInstruments 2025-06-30 SC262465 ns5:CurrentFinancialInstruments 2024-06-30 SC262465 ns5:Non-currentFinancialInstruments 2025-06-30 SC262465 ns5:Non-currentFinancialInstruments 2024-06-30 SC262465 ns5:ShareCapital 2025-06-30 SC262465 ns5:ShareCapital 2024-06-30 SC262465 ns5:LeaseholdImprovements 2024-07-01 2025-06-30 SC262465 ns5:PlantMachinery 2024-07-01 2025-06-30 SC262465 ns5:FurnitureFittings 2024-07-01 2025-06-30 SC262465 ns5:MotorVehicles 2024-07-01 2025-06-30 SC262465 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-07-01 2025-06-30 SC262465 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-07-01 2024-06-30 SC262465 ns5:OwnedAssets 2024-07-01 2025-06-30 SC262465 ns5:OwnedAssets 2023-07-01 2024-06-30 SC262465 ns5:HirePurchaseContracts 2024-07-01 2025-06-30 SC262465 ns5:HirePurchaseContracts 2023-07-01 2024-06-30 SC262465 ns10:OrdinaryShareClass1 2023-07-01 2024-06-30 SC262465 ns5:LeaseholdImprovements 2024-06-30 SC262465 ns5:PlantMachinery 2024-06-30 SC262465 ns5:FurnitureFittings 2024-06-30 SC262465 ns5:MotorVehicles 2024-06-30 SC262465 ns5:LeaseholdImprovements 2025-06-30 SC262465 ns5:PlantMachinery 2025-06-30 SC262465 ns5:FurnitureFittings 2025-06-30 SC262465 ns5:MotorVehicles 2025-06-30 SC262465 ns5:LeaseholdImprovements 2024-06-30 SC262465 ns5:PlantMachinery 2024-06-30 SC262465 ns5:FurnitureFittings 2024-06-30 SC262465 ns5:MotorVehicles 2024-06-30 SC262465 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-06-30 SC262465 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-06-30 SC262465 ns5:WithinOneYear ns5:HirePurchaseContracts 2025-06-30 SC262465 ns5:WithinOneYear ns5:HirePurchaseContracts 2024-06-30 SC262465 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2025-06-30 SC262465 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2024-06-30 SC262465 ns5:HirePurchaseContracts 2025-06-30 SC262465 ns5:HirePurchaseContracts 2024-06-30 SC262465 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-06-30 SC262465 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2024-06-30 SC262465 ns5:WithinOneYear 2025-06-30 SC262465 ns5:WithinOneYear 2024-06-30 SC262465 ns5:BetweenOneFiveYears 2025-06-30 SC262465 ns5:BetweenOneFiveYears 2024-06-30 SC262465 ns5:AllPeriods 2025-06-30 SC262465 ns5:AllPeriods 2024-06-30 SC262465 ns5:DeferredTaxation 2024-06-30 SC262465 ns5:DeferredTaxation 2024-07-01 2025-06-30 SC262465 ns5:DeferredTaxation 2025-06-30 SC262465 ns10:OrdinaryShareClass1 2025-06-30

REGISTERED NUMBER: SC262465 (Scotland)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended

30 June 2025

for

G R CONTRACTS LTD.

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Contents of the Financial Statements

for the Year Ended 30 June 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 5 |

Statement of Income and Retained Earnings | 9 |

Balance Sheet | 10 |

Cash Flow Statement | 11 |

Notes to the Cash Flow Statement | 12 |

Notes to the Financial Statements | 14 |

G R CONTRACTS LTD.

Company Information

for the Year Ended 30 June 2025

| DIRECTORS: | G McColl

| R Savage

| J Greenock

| J MacDonald

| REGISTERED OFFICE: | 13 Canyon Road

| Netherton Industrial Estate

| Wishaw

| ML2 0EG

| REGISTERED NUMBER: | SC262465 (Scotland)

| AUDITORS: | WDM Associates (Statutory Auditors)

| Oakfield House

| 378 Brandon Street

| Motherwell

| ML1 1XA

| BANKERS: | The Royal Bank of Scotland

| East Kilbride (A) branch

| 24/25 Princes Square

| East Kilbride

| G74 1LJ

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Strategic Report

for the Year Ended 30 June 2025

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

REVIEW OF BUSINESS

The results for the year show an operating profit of £730,719 (2024 - £2,782,403).

During the year the business achieved an operating profit of £730,719 (2024 - £2,782,403) which the directors consider a good result. The directors have invested time in reviewing business practice to ensure the best value to clients.

KEY PERFORMANCE INDICATORS

Given the straightforward nature of the business, the directors are of the opinion that analysis using KPI's is not necessary in the report for an understanding of the development, performance or position in the business.

FUTURE OUTLOOK

We believe the company is well positioned for further growth due to the strengths of our customer and supplier relationships.

ON BEHALF OF THE BOARD:

G McColl - Director

22 January 2026

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Report of the Directors

for the Year Ended 30 June 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of steel fabricators and erectors.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £54.93 per share.

The total distribution of dividends for the year ended 30 June 2025 will be £ 1,098,622 .

DIRECTORS

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

G McColl

R Savage

Other changes in directors holding office are as follows:

J Greenock - appointed 11 October 2024

J MacDonald - appointed 11 October 2024

POLITICAL DONATIONS AND EXPENDITURE

No political donations were made during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

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

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Report of the Directors

for the Year Ended 30 June 2025

AUDITORS

The auditors, WDM Associates (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G McColl - Director

22 January 2026

Report of the Independent Auditors to the Members of

G R Contracts Ltd.

Opinion

We have audited the financial statements of G R Contracts Ltd. (the 'company') for the year ended 30 June 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Report of the Independent Auditors to the Members of

G R Contracts Ltd.

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Report of the Independent Auditors to the Members of

G R Contracts Ltd.

Auditors' responsibilities for the audit of the financial statements

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

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

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we 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. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- |  | Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; |

- |  | Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements of the operations of the entity through enquiry and inspection; |

- |  | Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; |

- |  | Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. |

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 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.

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

Report of the Independent Auditors to the Members of

G R Contracts Ltd.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Graham Bonomy (Senior Statutory Auditor)

for and on behalf of WDM Associates (Statutory Auditors)

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

22 January 2026

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Statement of Income and Retained Earnings

for the Year Ended 30 June 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 13,075,487 |  | 16,198,500 |  |

Cost of sales | (10,720,025 | ) | (11,838,077 | ) |

GROSS PROFIT | 2,355,462 |  | 4,360,423 |  |

Administrative expenses | (1,665,002 | ) | (1,579,132 | ) |

690,460 |  | 2,781,291 |  |

Other operating income | 40,259 |  | 1,112 |  |

OPERATING PROFIT | 4 | 730,719 |  | 2,782,403 |  |

Interest receivable and similar income | 18,589 |  | 60,078 |  |

749,308 |  | 2,842,481 |  |

Interest payable and similar expenses | 5 | (963 | ) | - |  |

PROFIT BEFORE TAXATION | 748,345 |  | 2,842,481 |  |

Tax on profit | 6 | (197,183 | ) | (721,087 | ) |

PROFIT FOR THE FINANCIAL YEAR | 551,162 |  | 2,121,394 |  |

Retained earnings at beginning of year | 1,912,318 |  | 2,990,924 |  |

Dividends | 7 | (1,098,622 | ) | (3,200,000 | ) |

RETAINED EARNINGS AT END OF YEAR | 1,364,858 |  | 1,912,318 |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Balance Sheet

30 June 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 721,041 |  | 642,412 |  |

CURRENT ASSETS

Stocks | 9 | 946,488 |  | 1,457,122 |  |

Debtors | 10 | 331,046 |  | 925,918 |  |

Cash at bank and in hand | 1,054,676 |  | 2,143,630 |  |

2,332,210 |  | 4,526,670 |  |

CREDITORS

Amounts falling due within one year | 11 | (1,420,715 | ) | (3,100,790 | ) |

NET CURRENT ASSETS | 911,495 |  | 1,425,880 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,632,536 |  | 2,068,292 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (88,878 | ) | - |  |

PROVISIONS FOR LIABILITIES | 15 | (158,800 | ) | (135,974 | ) |

NET ASSETS | 1,384,858 |  | 1,932,318 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 20,000 |  | 20,000 |  |

Retained earnings | 17 | 1,364,858 |  | 1,912,318 |  |

SHAREHOLDERS' FUNDS | 1,384,858 |  | 1,932,318 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2026 and were signed on its behalf by:

G McColl - Director

R Savage - Director

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Cash Flow Statement

for the Year Ended 30 June 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 807,565 |  | 4,375,790 |  |

Interest element of hire purchase payments paid | (963 | ) | - |  |

Tax paid | (651,097 | ) | (365,052 | ) |

Net cash from operating activities | 155,505 |  | 4,010,738 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (163,198 | ) | (422,529 | ) |

Sale of tangible fixed assets | 4,000 |  | - |  |

Interest received | 18,589 |  | 60,078 |  |

Net cash from investing activities | (140,609 | ) | (362,451 | ) |

Cash flows from financing activities

Capital repayments in year | (5,228 | ) | - |  |

Equity dividends paid | (1,098,622 | ) | (3,200,000 | ) |

Net cash from financing activities | (1,103,850 | ) | (3,200,000 | ) |

(Decrease)/increase in cash and cash equivalents | (1,088,954 | ) | 448,287 |  |

Cash and cash equivalents at beginning of year | 2 | 2,143,630 |  | 1,695,343 |  |

Cash and cash equivalents at end of year | 2 | 1,054,676 |  | 2,143,630 |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Cash Flow Statement

for the Year Ended 30 June 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 748,345 |  | 2,842,481 |  |

| Depreciation charges | 209,686 |  | 155,732 |  |

| (Profit)/loss on disposal of fixed assets | (3,641 | ) | 1,424 |  |

| Finance costs | 963 |  | - |  |

| Finance income | (18,589 | ) | (60,078 | ) |

936,764 |  | 2,939,559 |  |

| Decrease in stocks | 510,634 |  | 1,748,144 |  |

| Decrease/(increase) in trade and other debtors | 594,872 |  | (233,664 | ) |

| Decrease in trade and other creditors | (1,234,705 | ) | (78,249 | ) |

| Cash generated from operations | 807,565 |  | 4,375,790 |  |

2. | CASH AND CASH EQUIVALENTS

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

| Year ended 30 June 2025

| 30.6.25 |  | 1.7.24

£ | £ |

| Cash and cash equivalents | 1,054,676 |  | 2,143,630 |  |

| Year ended 30 June 2024

| 30.6.24 |  | 1.7.23

£ | £ |

| Cash and cash equivalents | 2,143,630 |  | 1,695,343 |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Cash Flow Statement

for the Year Ended 30 June 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| Other |

| non-cash |

| At 1.7.24 | Cash flow | changes | At 30.6.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 2,143,630 |  | (1,088,954 | ) | 1,054,676 |  |

2,143,630 |  | (1,088,954 | ) | 1,054,676 |  |

| Debt

| Finance leases | - |  | 5,228 |  | (125,476 | ) | (120,248 | ) |

- |  | 5,228 |  | (125,476 | ) | (120,248 | ) |

| Total | 2,143,630 |  | (1,083,726 | ) | (125,476 | ) | 934,428 |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| G R Contracts Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Improvements to property | - | 10% on cost

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Work in progress

| Work in progress is valued at the lower of cost and estimated selling price less costs to sell. Cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

| - the amount of revenue can be measured reliably

| - it is probable that the Company will receive the consideration due

| - the costs incurred can be measured reliably

| - the revenue is recognised according to the stage of completion on the contract by reference to valuations agreed with customers.

| Basic financial instruments

| Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

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

| Deferred tax

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

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

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

| Hire purchase and leasing commitments

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

| Pension costs and other post-retirement benefits

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

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,841,185 |  | 2,851,921 |  |

| Social security costs | 298,626 |  | 302,380 |  |

| Other pension costs | 180,936 |  | 235,613 |  |

3,320,747 |  | 3,389,914 |  |

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

| 2025 |  | 2024

| Management and administration | 7 |  | 6 |  |

| Workshop and site | 69 |  | 66 |  |

76 |  | 72 |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

3. | EMPLOYEES AND DIRECTORS - continued

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 50,567 |  | 34,505 |  |

| Directors' pension contributions to money purchase schemes | 119,053 |  | 98,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 4 |  | 2 |  |

4. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 614,226 |  | 577,787 |  |

| Other operating leases | 207,281 |  | 240,000 |  |

| Depreciation - owned assets | 209,686 |  | 155,732 |  |

| (Profit)/loss on disposal of fixed assets | (3,641 | ) | 1,424 |  |

| Auditors' remuneration | 6,300 |  | 5,510 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Hire purchase | 963 |  | - |  |

6. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 174,357 |  | 651,097 |  |

| Deferred tax | 22,826 |  | 69,990 |  |

| Tax on profit | 197,183 |  | 721,087 |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

6. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 748,345 |  | 2,842,481 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 187,086 |  | 710,620 |  |

| Effects of:

| Expenses not deductible for tax purposes | 9,660 |  | 8,972 |  |

| Capital allowances in excess of depreciation | (22,389 | ) | (68,495 | ) |

| Movement in deferred tax | 22,826 |  | 69,990 |  |

| Total tax charge | 197,183 |  | 721,087 |  |

7. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each

| Final | 1,098,622 |  | 3,200,000 |  |

8. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 July 2024 | 90,045 |  | 1,560,891 |  | 24,001 |  | 240,705 |  | 1,915,642 |  |

| Additions | - |  | 161,494 |  | 1,704 |  | 125,476 |  | 288,674 |  |

| Disposals | - |  | (34,069 | ) | - |  | - |  | (34,069 | ) |

| At 30 June 2025 | 90,045 |  | 1,688,316 |  | 25,705 |  | 366,181 |  | 2,170,247 |  |

| DEPRECIATION

| At 1 July 2024 | 85,151 |  | 1,105,390 |  | 16,328 |  | 66,361 |  | 1,273,230 |  |

| Charge for year | 1,748 |  | 154,165 |  | 2,346 |  | 51,427 |  | 209,686 |  |

| Eliminated on disposal | - |  | (33,710 | ) | - |  | - |  | (33,710 | ) |

| At 30 June 2025 | 86,899 |  | 1,225,845 |  | 18,674 |  | 117,788 |  | 1,449,206 |  |

| NET BOOK VALUE

| At 30 June 2025 | 3,146 |  | 462,471 |  | 7,031 |  | 248,393 |  | 721,041 |  |

| At 30 June 2024 | 4,894 |  | 455,501 |  | 7,673 |  | 174,344 |  | 642,412 |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

9. | STOCKS

2025 | 2024 |

£ | £ |

| Work-in-progress | 946,488 |  | 1,457,122 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 151,734 |  | 355,831 |  |

| Amounts owed by group undertakings | - |  | 217,610 |  |

| Other debtors | 4,500 |  | 10,305 |  |

| VAT | 68,813 |  | 295,362 |  |

| Prepayments | 105,999 |  | 46,810 |  |

331,046 |  | 925,918 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 13) | 31,370 |  | - |  |

| Trade creditors | 924,273 |  | 2,227,215 |  |

| Tax | 174,357 |  | 651,097 |  |

| Social security and other taxes | 64,242 |  | 109,565 |  |

| Accrued expenses | 226,473 |  | 112,913 |  |

1,420,715 |  | 3,100,790 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 13) | 88,878 |  | - |  |

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

13. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | 35,649 |  | - |  |

| Between one and five years | 101,001 |  | - |  |

136,650 |  | - |  |

| Finance charges repayable:

| Within one year | 4,279 |  | - |  |

| Between one and five years | 12,123 |  | - |  |

16,402 |  | - |  |

| Net obligations repayable:

| Within one year | 31,370 |  | - |  |

| Between one and five years | 88,878 |  | - |  |

120,248 |  | - |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 260,905 |  | 316,957 |  |

| Between one and five years | 879,348 |  | 1,136,300 |  |

1,140,253 |  | 1,453,257 |  |

14. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 120,248 |  | - |  |

| Hire purchase creditors are secured over the assets concerned.

G R CONTRACTS LTD. (REGISTERED NUMBER: SC262465)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

15. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 158,800 |  | 135,974 |  |

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 135,974 |  |

| Charge to Income Statement during year | 22,826 |  |

| Balance at 30 June 2025 | 158,800 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 20,000 | Ordinary | £1 | 20,000 |  | 20,000 |  |

17. | RESERVES

| Retained

| earnings

£ |

| At 1 July 2024 | 1,912,318 |  |

| Profit for the year | 551,162 |  |

| Dividends | (1,098,622 | ) |

| At 30 June 2025 | 1,364,858 |  |

18. | ULTIMATE PARENT COMPANY

| G R Holdings (Scotland) Ltd is regarded by the directors as being the company's ultimate parent company.

19. | RELATED PARTY DISCLOSURES

| During the year, a total of key management personnel compensation of £ 50,567 (2024 - £ 34,505 ) was paid.