IRIS Accounts Production v25.4.12.37 SC337487 director 1.4.24 31.3.25 31.3.25 Medium entities general building and civil construction and production of quarry aggregate. true false true true false false false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 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REGISTERED NUMBER: SC337487 (Scotland)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GMR HENDERSON BUILDERS LTD

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 3 |

| Report of the Independent Auditors | 4 |

| Income Statement | 7 |

| Other Comprehensive Income | 8 |

| Balance Sheet | 9 |

| Statement of Changes in Equity | 10 |

| Cash Flow Statement | 11 |

| Notes to the Cash Flow Statement | 12 |

| Notes to the Financial Statements | 13 |

| GMR HENDERSON BUILDERS LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTOR: | G M R Henderson

| REGISTERED OFFICE: | Unit 7 Wick Business Park

| Wick

| Caithness

| KW1 4QR

| REGISTERED NUMBER: | SC337487 (Scotland)

| AUDITORS: | Leiper & Summers

| Statutory Auditors

| 4 Charlotte Street

| Fraserburgh

| Aberdeenshire

| AB43 9JE

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The director presents his strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

GMR Henderson Builders are a construction and quarry company based in the Highlands of Scotland and provides services throughout Scotland. Services include covering all aspects of general building and civil construction whilst often acting as the principal contractor clients. The company also produces and can deliver ready mix concrete, sand and all types of quarry aggregates from our two locations at Ackron and Spittal. The company's quality management systems ensure high levels of consistency and completeness, together with our peer review and integrated management system processes ensure a high quality, high value product is delivered on time and within budget.

The economic environment in the year under review has remained challenging with all sectors of the industry under significant competitive pressure. Despite this, the company has achieved sales of £17,694,434 (2024 - £15,293,974) and net profit of £2,923,437 (2024 - £3,227,740). The director considers the trading profits to be satisfactory.

The director remains confident that the company will maintain satisfactory levels of performance in the market, with no external debt.

PRINCIPAL RISKS AND UNCERTAINTIES

The company has various competitors in the sector they operate in and there is risk of losing sales/margin due to the competitive pressure and economic pressures out with our control. The company manages the risk by providing value added services and operating with a proactive and dynamic approach, both on site and within head office. The company has continued to build a reputation of being able to deliver projects on time and on budget.

DEVELOPMENT AND PERFORMANCE

The director anticipates the business environment will remain competitive. The director believes that the company is in a good financial position and that the risks that have been identified are being well managed. The director is confident in the company's ability to maintain and build on this strategy and financial position.

KEY PERFORMANCE INDICATORS

Given the nature of the business, the company director is of the opinion that analysis using KPI's is not necessary for an understanding of the development, performance or position of the business with turnover and profitability the measures used to monitor business performance.

ON BEHALF OF THE BOARD:

G M R Henderson - Director

18 March 2026

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31 MARCH 2025

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £130,000.

DIRECTOR

G M R Henderson held office during the whole of the period from 1 April 2024 to the date of this report.

CHARITABLE DONATIONS AND EXPENDITURE

The company made charitable donations during the year of £19,674 (2024 - £39,497).

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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.

AUDITORS

The auditors, Leiper & Summers, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G M R Henderson - Director

18 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GMR HENDERSON BUILDERS LTD

Opinion

We have audited the financial statements of GMR Henderson Builders Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, 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 31 March 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GMR HENDERSON BUILDERS 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

- Enquiry of management, those charged with governance around actual and potential litigation and claims.

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

- Auditing the risk management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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

GMR HENDERSON BUILDERS 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.

Susan M Hepburn (Senior Statutory Auditor)

for and on behalf of Leiper & Summers

Statutory Auditors

4 Charlotte Street

Fraserburgh

Aberdeenshire

AB43 9JE

18 March 2026

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

INCOME STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 4 | 17,694,434 |  | 15,293,974 |  |

Cost of sales | 11,502,274 |  | 9,467,254 |  |

GROSS PROFIT | 6,192,160 |  | 5,826,720 |  |

Administrative expenses | 3,293,113 |  | 2,627,429 |  |

2,899,047 |  | 3,199,291 |  |

Other operating income | 24,690 |  | 28,449 |  |

OPERATING PROFIT | 6 | 2,923,737 |  | 3,227,740 |  |

Interest receivable and similar income | 220 |  | - |  |

2,923,957 |  | 3,227,740 |  |

Interest payable and similar expenses | 7 | 520 |  | - |  |

PROFIT BEFORE TAXATION | 2,923,437 |  | 3,227,740 |  |

Tax on profit | 8 | 736,881 |  | 1,524,530 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,186,556 |  | 1,703,210 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 2,186,556 |  | 1,703,210 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,186,556 |  | 1,703,210 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

BALANCE SHEET

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 9,941,411 |  | 6,594,654 |  |

CURRENT ASSETS

Debtors | 11 | 5,537,106 |  | 4,202,474 |  |

Cash at bank | 2,758,400 |  | 4,540,578 |  |

8,295,506 |  | 8,743,052 |  |

CREDITORS

Amounts falling due within one year | 12 | 1,941,141 |  | 1,981,481 |  |

NET CURRENT ASSETS | 6,354,365 |  | 6,761,571 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 16,295,776 |  | 13,356,225 |  |

CREDITORS

Amounts falling due after more than one year | 13 | (146,114 | ) | - |  |

PROVISIONS FOR LIABILITIES | 16 | (1,747,097 | ) | (1,010,216 | ) |

NET ASSETS | 14,402,565 |  | 12,346,009 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 100 |  | 100 |  |

Retained earnings | 18 | 14,402,465 |  | 12,345,909 |  |

SHAREHOLDERS' FUNDS | 14,402,565 |  | 12,346,009 |  |

The financial statements were approved by the director and authorised for issue on 18 March 2026 and were signed by:

G M R Henderson - Director

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2023 | 100 |  | 10,707,699 |  | 10,707,799 |  |

Changes in equity

Dividends | - |  | (65,000 | ) | (65,000 | ) |

Total comprehensive income | - |  | 1,703,210 |  | 1,703,210 |  |

Balance at 31 March 2024 | 100 |  | 12,345,909 |  | 12,346,009 |  |

Changes in equity

Dividends | - |  | (130,000 | ) | (130,000 | ) |

Total comprehensive income | - |  | 2,186,556 |  | 2,186,556 |  |

Balance at 31 March 2025 | 100 |  | 14,402,465 |  | 14,402,565 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 3,051,624 |  | 4,293,593 |  |

Interest element of hire purchase payments paid | (520 | ) | - |  |

Tax paid | (600,119 | ) | - |  |

Net cash from operating activities | 2,450,985 |  | 4,293,593 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (4,452,563 | ) | (3,747,904 | ) |

Sale of tangible fixed assets | 14,000 |  | 174,637 |  |

Interest received | 220 |  | - |  |

Net cash from investing activities | (4,438,343 | ) | (3,573,267 | ) |

Cash flows from financing activities

Capital repayments in year | 335,026 |  | - |  |

Amount withdrawn by directors | 154 |  | (16,271 | ) |

Equity dividends paid | (130,000 | ) | (65,000 | ) |

Net cash from financing activities | 205,180 |  | (81,271 | ) |

(Decrease)/increase in cash and cash equivalents | (1,782,178 | ) | 639,055 |  |

Cash and cash equivalents at beginning of year | 2 | 4,540,578 |  | 3,901,523 |  |

Cash and cash equivalents at end of year | 2 | 2,758,400 |  | 4,540,578 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 2,923,437 |  | 3,227,740 |  |

| Depreciation charges | 1,105,806 |  | 635,679 |  |

| (Profit)/loss on disposal of fixed assets | (14,000 | ) | 938,185 |  |

| (Increase)/Decrease in amounts recovered | (205,603 | ) | 49,588 |  |

| Finance costs | 520 |  | - |  |

| Finance income | (220 | ) | - |  |

3,809,940 |  | 4,851,192 |  |

| Increase in trade and other debtors | (1,109,312 | ) | (707,228 | ) |

| Increase in trade and other creditors | 350,996 |  | 149,629 |  |

| Cash generated from operations | 3,051,624 |  | 4,293,593 |  |

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 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 2,758,400 |  | 4,540,578 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 4,540,578 |  | 3,901,523 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank | 4,540,578 |  | (1,782,178 | ) | 2,758,400 |  |

4,540,578 |  | (1,782,178 | ) | 2,758,400 |  |

| Debt

| Finance leases | - |  | (335,026 | ) | (335,026 | ) |

- |  | (335,026 | ) | (335,026 | ) |

| Total | 4,540,578 |  | (2,117,204 | ) | 2,423,374 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| GMR Henderson Builders 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.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

| Going Concern

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

| Significant judgements and estimates

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Useful lives and depreciation of fixed assets

| Depreciation rates are based on the estimated useful lives of assets, which is judgement exercised by

| management taking into account actual experience.

| Turnover

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

| In respect of construction contracts, where the substance of a contract is that the contractual obligations are performed over time, revenue is recognised by reference to the stage of completion of contract activity at the balance sheet date. This is normally measured by surveys of work performed to date. Where it is probable that the total costs of a contract will exceed the total contract revenue, the expected loss is recognised as an expense in the income statement as soon as it is forseen.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property | - | 2% on cost

| Plant and machinery | - | 20% on reducing balance

| Motor vehicles | - | 20% on reducing balance

| Office equipment | - | 33% on cost

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

3. | 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

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

| Pension costs and other post-retirement benefits

| The 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.

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Civil contracts and quarry | 17,694,434 |  | 15,293,974 |  |

17,694,434 |  | 15,293,974 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

4. | TURNOVER - continued

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 17,694,434 |  | 15,293,974 |  |

17,694,434 |  | 15,293,974 |  |

5. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,849,938 |  | 2,578,875 |  |

| Social security costs | 285,093 |  | 245,727 |  |

| Other pension costs | 66,024 |  | 58,360 |  |

3,201,055 |  | 2,882,962 |  |

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

| 2025 |  | 2024

| Directors | 1 |  | 1 |  |

| Direct Labour | 65 |  | 64 |  |

| Administration | 9 |  | 5 |  |

75 |  | 70 |  |

| 2025 |  | 2024

£ | £ |

| Director's remuneration | 12,338 |  | 12,545 |  |

6. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 287,705 |  | 234,913 |  |

| Depreciation - owned assets | 1,047,694 |  | 635,679 |  |

| Depreciation - assets on hire purchase contracts | 58,112 |  | - |  |

| (Profit)/loss on disposal of fixed assets | (14,000 | ) | 938,185 |  |

| Auditors' remuneration | 18,500 |  | 16,500 |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Hire purchase | 520 |  | - |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

8. | 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 | - |  | 514,314 |  |

| Deferred tax | 736,881 |  | 1,010,216 |  |

| Tax on profit | 736,881 |  | 1,524,530 |  |

| UK corporation tax was charged at 25%) in 2024.

| 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 | 2,923,437 |  | 3,227,740 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 730,859 |  | 806,935 |  |

| Effects of:

| Expenses not deductible for tax purposes | 3,522 |  | 243,792 |  |

| Capital allowances in excess of depreciation | (792,130 | ) | (410,918 | ) |

| Utilisation of tax losses | - |  | (125,495 | ) |

| Deferred tax charge | 736,881 |  | 1,010,216 |  |

| Losses carried forward | 61,249 |  | - |  |

| Gain on disposal of fixed assets | (3,500 | ) | - |  |

| Total tax charge | 736,881 |  | 1,524,530 |  |

9. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary Shares shares of 1 each

| Final | 130,000 |  | 65,000 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

10. | TANGIBLE FIXED ASSETS

| Freehold |  | Plant and |  | Motor |  | Office |

| property |  | machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 2,176,855 |  | 6,934,143 |  | 1,447,964 |  | - |  | 10,558,962 |  |

| Additions | 132,905 |  | 3,639,268 |  | 647,268 |  | 33,122 |  | 4,452,563 |  |

| Reclassification/transfer | - |  | (715,769 | ) | 715,769 |  | - |  | - |  |

| At 31 March 2025 | 2,309,760 |  | 9,857,642 |  | 2,811,001 |  | 33,122 |  | 15,011,525 |  |

| DEPRECIATION

| At 1 April 2024 | 10,000 |  | 3,086,537 |  | 867,771 |  | - |  | 3,964,308 |  |

| Charge for year | 10,000 |  | 792,739 |  | 297,160 |  | 5,907 |  | 1,105,806 |  |

| Reclassification/transfer | - |  | (184,377 | ) | 184,377 |  | - |  | - |  |

| At 31 March 2025 | 20,000 |  | 3,694,899 |  | 1,349,308 |  | 5,907 |  | 5,070,114 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,289,760 |  | 6,162,743 |  | 1,461,693 |  | 27,215 |  | 9,941,411 |  |

| At 31 March 2024 | 2,166,855 |  | 3,847,606 |  | 580,193 |  | - |  | 6,594,654 |  |

| Included in cost of land and buildings is freehold land of £ 1,703,436 (2024 - £ 1,676,855 ) which is not depreciated.

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

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| Additions | 360,000 |  | 169,305 |  | 529,305 |  |

| At 31 March 2025 | 360,000 |  | 169,305 |  | 529,305 |  |

| DEPRECIATION

| Charge for year | 27,000 |  | 31,112 |  | 58,112 |  |

| At 31 March 2025 | 27,000 |  | 31,112 |  | 58,112 |  |

| NET BOOK VALUE

| At 31 March 2025 | 333,000 |  | 138,193 |  | 471,193 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 3,539,535 |  | 2,588,915 |  |

| Amounts recoverable on contract | 785,192 |  | 579,589 |  |

| Other debtors | 1,079,570 |  | 934,570 |  |

| Tax | 119,117 |  | 99,400 |  |

| VAT | 13,692 |  | - |  |

5,537,106 |  | 4,202,474 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 14) | 188,912 |  | - |  |

| Trade creditors | 1,495,448 |  | 820,938 |  |

| Tax | 33,312 |  | 613,714 |  |

| Social security and other taxes | 89,915 |  | 90,356 |  |

| VAT | - |  | 253,002 |  |

| Directors' current accounts | 208 |  | 54 |  |

| Accrued expenses | 133,346 |  | 203,417 |  |

1,941,141 |  | 1,981,481 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 14) | 146,114 |  | - |  |

14. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 188,912 |  | - |  |

| Between one and five years | 146,114 |  | - |  |

335,026 |  | - |  |

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 335,026 |  | - |  |

| Hire purchase contracts are secured against the relevant asset.

| The bank holds a standard security over a company property and a bond and floating charge over the assets of the company.

16. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 1,747,097 |  | 1,010,216 |  |

GMR HENDERSON BUILDERS LTD (REGISTERED NUMBER: SC337487) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

16. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 1,010,216 |  |

| Charge to Income Statement during year | 736,881 |  |

| Balance at 31 March 2025 | 1,747,097 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 100 | Ordinary Shares | 1 | 100 |  | 100 |  |

18. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 12,345,909 |  |

| Profit for the year | 2,186,556 |  |

| Dividends | (130,000 | ) |

| At 31 March 2025 | 14,402,465 |  |

19. | CAPITAL COMMITMENTS

2025 | 2024 |

£ | £ |

| Contracted but not provided for in the

| financial statements | - |  | 125,000 |  |

20. | RELATED PARTY DISCLOSURES

| Key management personnel of the entity or its parent (in the aggregate)

2025 | 2024 |

£ | £ |

| Amount due to related party | 208 |  | 54 |  |

| Other related parties

2025 | 2024 |

£ | £ |

| Sales | 82,657 |  | 77,779 |  |

| Purchases | 279,644 |  | 333,474 |  |

| Amount due from related party | 861,274 |  | 738,421 |  |

21. | ULTIMATE CONTROLLING PARTY

| The controlling party is G M R Henderson.