Company registration number 00446626 (England and Wales)
F. PARKINSON LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
F. PARKINSON LIMITED
COMPANY INFORMATION
Directors
R J Eyre
S D Williamson
S R Jackson
R Wilson
Secretary
R Wilson
Company number
00446626
Registered office
50 Mowbray Drive
Blackpool
Lancashire
FY3 7UN
Auditor
Sumer Auditco Limited
Fourth Floor
Unit 5B, The Parklands
Bolton
BL6 4SD
Business address
50 Mowbray Drive
Blackpool
Lancashire
FY3 7UN
Bankers
Barclays Bank Plc
2-4 Birley Street
Blackpool
Lancashire
FY1 1DU
F. PARKINSON LIMITED
CONTENTS
Page
Strategic report
1 - 4
Directors' report
5 - 6
Independent auditor's report
7 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Notes to the financial statements
13 - 26
F. PARKINSON LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

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

Review of the business

Financial review

The company is pleased to report a strong set of financial results for the year ending 30 September 2025. Turnover is down slightly but net profits have increased from 2.1% in 2024 to 4.0% in 2025 resulting in a net profit before taxation of £1,159,344.

The cash position of the business remains strong with over £3m in the bank and the company has cleared all its financing obligations in 2025 with regards to its commercial mortgage and vehicle finance agreements.

Our ongoing strategy of prioriti s ing partnered work and fostering a collaborative approach has once again resulted in increased profitability and enhanced quality of delivery. The company remains highly selective regarding competitively tendered opportunities, thereby mitigating the risks associated with acquiring unprofitable contracts.

Marketplace

The company has targeted and achieved several key framework and tender successes throughout 2025. Ones of note include Lancashire County Council Reactive and Planned Improvement works, Ellesmere Port Market remodelling works for Cheshire West & Chester Council, Elite House for Halton Borough Council as well as York Teaching Hospitals Macmillan Cancer Care Centre.

Employees

Over the past year, the company has implemented a new management training programme aimed at strengthening the leadership capabilities of our senior managers. We continue to provide updated project management training across the business, along with ongoing support for our site personnel pursuing NVQ Level 6 and Level 7 construction qualifications. In addition, training on sexual harassment has been delivered to all employees, in accordance with the latest Government legislation.

We firmly believe that our employees are fundamental to the success of our business, and that investing in their development directly benefits our clients. This commitment enhances the management, collaborative delivery, and overall quality of the construction projects we undertake.

Our commitment to training has seen us exceed the UK average of 5.6 training days per employee per year. For 2025, our average training days per employee is 7 days.

New mental health and wellbeing initiatives are continuously implemented and reviewed by a dedicated working group to ensure employees receive the support they need. The company has several internal mental health first aiders as well as external resources that employees can call upon as and when required.

Health & Safety

The health and safety of employees, supply chain and clients remain a high priority for the company with one of the main KPI targets being zero accidents on any of our construction sites or offices.

Throughout 2025 we have maintained our strong health & safety record by continually monitoring, reviewing and improving our management processes to focus on preventative measures and sound working practices. Specifically, continued health and safety training and development of employees and supply chain in using the latest technology to collect and analyse data trends, are key mitigating factors in reaching our target of zero accidents.

F. PARKINSON LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

Accreditations

The company has successfully passed its annual audit of its UKAS standards or Quality ISO9001, Environment ISO14001, and Health & Safety ISO45001. These UKAS British Standard accreditations, audited by our partners ISOQAR, p rovide assurance and confidence to our client base that Parkinson’s p rocesses, procedures, product quality and service are of a high standard and that the company has processes and procedures in place to continuously improve and innovate.

In April 2025, the company maintained its Investors in People (IIP) ‘We invest in People’ Gold accreditation. In addition, the company achieved a new IIP a ward for ‘We invest in Wellbeing’. This is a significant achievement and a direct reflection of the strength of our culture, the dedication of our people and our shared commitment to creating a positive and supportive working environment.

The company has maintained its accreditation to Cyber Essentials in 2025. This certification is required by many Government and public bodies and gives confidence that Parkinson has robust IT security, protection and controls regarding sensitive data and protection of key systems. Cyber threats have increased in the last 2 years, and we aim to provide the highest protection against cyber-attacks. In 2026, the company will seek to improve this by aiming to achieve Cyber Essentials Plus.

Awards

The company is pleased to announce it has been awarded a Merit by the British Safety Council at the in ternational Safety Awards held in London in June 2025. In addition, the company received highly commended recognition in two categories at the National Federation of Builders (NFB) Awards in Birmingham in November 2025, one for Best Building Contractor and one for Health Wellbeing & Safety Excellence. Both awards are continued recognition of all the hard work, commitment and effort contributed by all our employees and partners.

Key performance indicators

Financial Key Performance Indicators

The financial key performance indicators (KPI’s) that the company regards as important are:

a. gross profit margin;

b. net profit margin;

c. earnings before interest, tax, depreciation, impairment charge and amortisation (EBITDA).

For the year under review, those Key Performance Indicators were:

| 2025 | 2024
Gross profit margin | 12.9% | 9.5%
Net profit margin | 4.0% | 2.1%
Earnings before interest, tax, depreciation and amortisation | £1.31m | £0.92m

The KPI’s are aligned with the Directors’ expectations taking into account the current economic climate.

Non-Financial Key Performance Indicators

The company measures its operational performance using 9 KPI’s that are reviewed annually through external and internal feedback. These 9 KPI’s are, Quality, Performance, Customer Service, Programme, Profitability, Health & Safety, Subcontractors, CCS and Environment.

The 2025 set of results shows 4 KPI’s increasing, 2 remaining at a high level and 3 slightly decreasing. The company aims to increase these indicators year on year through continuous improvement and lessons learnt contract reviews.

F. PARKINSON LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

Social Value

Our vision is to be a leading regional contractor recognised for our outstanding achievements in social value, in line with our ability to deliver quality construction projects. Our strategy focuses on improving outcomes across four pillars of social impact which include, our people, our environment, our community and our marketplace.

We continue with many social value activities including, apprentice recruitment and training, volunteering, supply chain events, donations and work experience days.

Charity

In 2025 we continued to be a financial supporter of our chosen charity, The Lighthouse Club Construction Charity. The Lighthouse Club is the only charity that provides emotional, physical, and financial wellbeing support to construction workers and their families. They receive no public funding and rely on the generosity of those within the industry to help them continue their vital work.

Sustainability

Carbon reduction targets remain important to the company and reducing our impact on the environment. The company is aiming to achieve net zero emissions by 2030. Various initiatives have been developed to support the Government’s UK Climate Change Act 2008, and Construction 2025 Strategy. The company have implemented a range of initiatives over the past 12 months to reduce our carbon footprint.

Emissions Reduction Targets

Parkinson are committed to reducing the emissions created by energy consumption and travel by a minimum of 5% annually.

Within our 2022 plan we projected that carbon emissions will decrease over the next five years to 325.68 tCO2e by 2027, providing a total reduction in emissions of 22%. We noted that the above figures are subject to fluctuations in the construction industry due to turnover and the type of works undertaken during that year.

Our 2023 results surpassed this reduction target in our first year alone, having reduced our baseline of 420.89 tCO2e to 287.88 tCO2e, i.e. a reduction of 133.01 tCO2e (32%)

Our 2024 results have continued to decrease, highlighting a further 19% reduction in CO2 output to 233.46 tCO2e.

Reporting Year: 2024
EMISSIONS | TOTAL (tCO2e)
Scope 1 | 139.21
Scope 2 | 14.16
Scope 3 (Included Sources) | Business travel Employee commuting Waste generated in operations Fuel and energy related activities (not included in scope 1 or 2) Downstream transportation and distribution (0) Total: 80.09
Total Emissions | 233.46

F. PARKINSON LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 4 -

Principle risks and uncertainties

Macro-economic factors including increased costs to business through increased Employers National Insurance contributions and forecast low UK economic growth are real and present risks to the business going forward.

The company will seek to mitigate these risks by continuing to secure positions on as many construction frameworks as possible.

Locally, the company will maintain its commitment to collaborative approaches and strategic alliances. Future tendering activities will be rigorously assessed to ensure they do not introduce reputational or financial risk to the organi s ation.

Future developments

The company recognises that investment in new technologies such as Artificial Intelligence (AI) will increase the companies competitive advantage going forward. The introduction of AI in several departments of the business throughout 2025 has already delivered benefits in terms of efficiencies.

Over the medium term, the Board of Directors will remain focused on securing profitable construction work throughout the three northern regions of England. The company intends to engage with both local and national construction frameworks, with partnership and collaboration forming a central pillar of our stakeholder strategy.

The company’s 2026 forecast already shows a strong order book with secured work currently at a high level of £28m which amounts to around 40 secured construction contracts.

On behalf of the board

R J Eyre
Director
14 April 2026
F. PARKINSON LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 5 -

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

Principal activities

The principal activity of the business continued to be that of principal building contractor delivering quality construction projects throughout the north of England.

Results and dividends

The results for the year are set out on page 10.

Ordinary dividends were paid amounting to £807,533. The directors do not recommend payment of a final dividend.

Directors

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

R J Eyre
S D Williamson
S R Jackson
R Wilson
Auditor

The auditor, Sumer Auditco Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

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

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

- 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 of disclosure to auditor

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

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

F. PARKINSON LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
On behalf of the board
R J Eyre
Director
14 April 2026
F. PARKINSON LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF F. PARKINSON LIMITED
- 7 -
Opinion

We have audited the financial statements of F. Parkinson Limited (the 'company') for the year ended 30 September 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

F. PARKINSON LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF F. PARKINSON LIMITED
- 8 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussions with the directors (as required by auditing standards) and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: laws related to health and safety, employment laws, gender pay gap and consumer protection.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance.

F. PARKINSON LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF F. PARKINSON LIMITED
- 9 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

We design procedures in line with our responsibilities, outlined below to detect material misstatement due to fraud:

- Matters are discussed amongst the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud

- Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud

- Detecting and responding to the risks of fraud following discussions with management and enquiring as to whether management have knowledge of any actual, suspected or alleged fraud;

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the 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.

Alex Hesketh
Senior Statutory Auditor
For and on behalf of Sumer Auditco Limited
14 April 2026
Fourth Floor
Unit 5B, The Parklands
Bolton
BL6 4SD
F. PARKINSON LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
29,009,072
31,516,049
Cost of sales
(25,278,713)
(28,539,029)
Gross profit
3,730,359
2,977,020
Administrative expenses
(2,695,025)
(2,381,372)
Other operating income
30,000
30,000
Operating profit
4
1,065,334
625,648
Interest receivable and similar income
8
106,935
77,047
Interest payable and similar expenses
9
(12,925)
(50,330)
Profit before taxation
1,159,344
652,365
Tax on profit
10
(217,403)
(171,029)
Profit for the financial year
941,941
481,336
Other comprehensive income
Revaluation of tangible fixed assets
205,324
-
0
Tax relating to other comprehensive income
(51,331)
-
0
Total comprehensive income for the year
1,095,934
481,336

The profit and loss account has been prepared on the basis that all operations are continuing operations.

F. PARKINSON LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
1,842,328
1,544,024
Current assets
Debtors
13
5,260,993
6,096,253
Cash at bank and in hand
3,106,443
4,104,832
8,367,436
10,201,085
Creditors: amounts falling due within one year
14
(8,571,050)
(10,640,037)
Net current liabilities
(203,614)
(438,952)
Total assets less current liabilities
1,638,714
1,105,072
Creditors: amounts falling due after more than one year
15
(477,007)
(209,988)
Provisions for liabilities
Deferred tax liability
18
214,006
235,784
(214,006)
(235,784)
Net assets
947,701
659,300
Capital and reserves
Called up share capital
20
100,000
100,000
Revaluation reserve
345,958
191,965
Profit and loss reserves
501,743
367,335
Total equity
947,701
659,300

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 14 April 2026 and are signed on its behalf by:
R J Eyre
Director
Company registration number 00446626 (England and Wales)
F. PARKINSON LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 October 2023
100,000
194,996
339,845
634,841
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
481,336
481,336
Dividends
11
-
-
(456,877)
(456,877)
Transfers
-
(3,031)
3,031
-
Balance at 30 September 2024
100,000
191,965
367,335
659,300
Year ended 30 September 2025:
Profit
-
-
941,941
941,941
Other comprehensive income:
Revaluation of tangible fixed assets
-
205,324
-
205,324
Tax relating to other comprehensive income
-
(51,331)
-
0
(51,331)
Total comprehensive income
-
153,993
941,941
1,095,934
Dividends
11
-
-
(807,533)
(807,533)
Balance at 30 September 2025
100,000
345,958
501,743
947,701
F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
1
Accounting policies
Company information

F. Parkinson Limited is a private company limited by shares incorporated in England and Wales. The registered office is 50 Mowbray Drive, Blackpool, Lancashire, FY3 7UN.

1.1
Accounting convention

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

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold land and buildings at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash f low and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Westcliffe Holdings Limited. These consolidated financial statements are available from its registered office, 50 Mowbray Drive, Blackpool, Lanc ashire, FY3 7U N.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 14 -

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

1.3
Tangible fixed assets

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

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

Freehold property
2% straight line
Leasehold improvements
2% / 10% / 25% Straight line
Fixtures, fittings & equipment
10% Straight line
Computer equipment
25% reducing balance
Motor vehicles
25% / 33% Straight line

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

1.4
Impairment of fixed assets

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

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

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

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

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.5
Cash at bank and in hand

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

1.6
Financial instruments

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

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

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

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

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 16 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

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

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 17 -
Deferred tax
Deferred tax is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.
Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non - discounted basis.
1.9
Employee benefits

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

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

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

1.10
Retirement benefits

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

1.11
Leases

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

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

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

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

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
2
Judgements and key sources of estimation uncertainty

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.

Key sources of estimation uncertainty

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

Amounts due from contract customers

Revenue and costs are recognised by reference to the estimated stage of completion at the reporting end date. Losses will be recognised if it is estimated that it is probable that the total contract costs will exceed total contract turnover. Where there is objective evidence that the amounts due will not be collected, a provision for impairment will need to be estima ted.

At balance sheet date, the balance was £1,022,875 (2024: £1,329,414).

Refer to Note 13 showing the debtor balance impacted by the key estimate.

Freehold property valuations

Properties are valued. There is an inevitable degree of judgement involved in that each property is unique and value can ultimately only be reliably tested in the market itself. The directors use professional valuations to assist in their assessment which are undertaken on an existing use basis.

At the balance sheet date, the net book value of freehold property was £1,001,159 (2024: £1,194,124).

Refer to Note 12 to show the carrying value of freehold land and buildings impacted by this accounting estimate.

3
Turnover and other revenue
2025
2024
£
£
Other revenue
Interest income
106,935
77,047
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
85,331
136,515
Depreciation of tangible fixed assets held under finance leases
169,912
166,570
Profit on disposal of tangible fixed assets
(9,328)
(11,953)
Operating lease charges
60,321
61,024
F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
19,971
23,155
6
Employees

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

2025
2024
Number
Number
Production
50
50
Administration
20
20
Total
70
70

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,932,526
3,459,947
Social security costs
506,991
393,369
Pension costs
415,040
423,972
4,854,557
4,277,288
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
794,281
437,881
Company pension contributions to defined contribution schemes
217,800
223,200
1,012,081
661,081

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (2024 - 4).

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
7
Directors' remuneration
(Continued)
- 20 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
287,061
203,710
Company pension contributions to defined contribution schemes
58,500
57,200
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
106,935
77,047
9
Interest payable and similar expenses
2025
2024
£
£
Interest on finance leases and hire purchase contracts
12,925
50,330
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
290,512
180,649
Deferred tax
Origination and reversal of timing differences
789
(9,620)
Adjustment in respect of prior periods
(73,898)
-
0
Total deferred tax
(73,109)
(9,620)
Total tax charge
217,403
171,029
F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
10
Taxation
(Continued)
- 21 -

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

2025
2024
£
£
Profit before taxation
1,159,344
652,365
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
289,836
163,091
Tax effect of expenses that are not deductible in determining taxable profit
1,465
4,148
Permanent capital allowances in excess of depreciation
-
0
3,477
Deferred tax adjustments in respect of prior years
(73,898)
-
0
Capital items expensed
-
0
313
Taxation charge for the year
217,403
171,029

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2025
2024
£
£
Deferred tax arising on:
Revaluation of property
51,331
-
11
Dividends
2025
2024
£
£
Interim paid
807,533
456,877
F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 22 -
12
Tangible fixed assets
Freehold property
Leasehold improvements
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 October 2024
1,030,000
60,602
139,703
762,858
879,912
2,873,075
Additions
-
0
-
0
41,103
30,598
297,035
368,736
Disposals
-
0
-
0
-
0
-
0
(208,670)
(208,670)
Revaluation
164,124
-
0
-
0
-
0
-
0
164,124
At 30 September 2025
1,194,124
60,602
180,806
793,456
968,277
3,197,265
Depreciation and impairment
At 1 October 2024
28,841
44,498
101,669
693,155
460,888
1,329,051
Depreciation charged in the year
12,359
329
13,056
21,007
208,492
255,243
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(188,157)
(188,157)
Revaluation
(41,200)
-
0
-
0
-
0
-
0
(41,200)
At 30 September 2025
-
0
44,827
114,725
714,162
481,223
1,354,937
Carrying amount
At 30 September 2025
1,194,124
15,775
66,081
79,294
487,054
1,842,328
At 30 September 2024
1,001,159
16,104
38,034
69,703
419,024
1,544,024

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
-
0
418,948

Land and buildings were revalued at 30th September 2025 t o fair value based on the Directors expectation of open market value. The valuation estimated considers market evidence of transaction prices for similar properties and subsequent sale values in the surrounding area.

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been as follows:

2025
2024
£
£
Cost
840,653
840,653
Accumulated depreciation
(137,354)
(120,678)
Carrying value
703,299
719,975
F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 23 -
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,095,161
4,687,791
Gross amounts owed by contract customers
1,022,875
1,329,414
Prepayments and accrued income
142,957
79,048
5,260,993
6,096,253
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
16
-
0
224,532
Obligations under finance leases
17
-
0
186,703
Trade creditors
1,757,516
1,875,637
Corporation tax
290,512
180,649
Other taxation and social security
936,825
1,439,665
Other creditors
49,487
-
0
Accruals and deferred income
5,536,710
6,732,851
8,571,050
10,640,037

The bank loan has been repaid in full during the year. In the prior year, the bank loan was secured by a legal charges over properties held by the company.

Obligations under finance leases are secured on the associated tangible fixed asset acquired.

15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
17
-
0
209,988
Trade creditors
477,007
-
0
477,007
209,988

Obligations under finance leases are secured on the associated tangible fixed asset acquired.

16
Loans and overdrafts
2025
2024
£
£
Bank loans
-
0
224,532
Payable within one year
-
0
224,532
F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
16
Loans and overdrafts
(Continued)
- 24 -

The loan attracted interest on a floating rate basis, on the original capital element of £486,500. The total sum, including all interest, was repaid in the year.

17
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
-
0
186,703
In two to five years
-
0
209,988
-
0
396,691

Finance lease payments represent rentals payable by the company for certain items of plant and equipment. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

18
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
ACAs
125,638
170,785
Revaluations
88,368
64,999
214,006
235,784
2025
Movements in the year:
£
Liability at 1 October 2024
235,784
Credit to profit or loss
(73,109)
Charge to other comprehensive income
51,331
Liability at 30 September 2025
214,006

The deferred tax liability set out above predominately relates to accelerated capital allowances that are expected to mature over the associated fixed assets useful economic life. Recognition is also made in respect of f uture tax payable on expected property revaluation gains arising on fair value uplifts assessed.

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 25 -
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
415,040
423,972

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
21
Financial commitments, guarantees and contingent liabilities

The company has entered into an unlimited cross guarantee covering bank borrowings of fellow group companies in favour of Barclays Bank PLC. At the balance sheet date the potential added liability for the company under this cross guarantee is £Nil (2024: £224,532).

22
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
145,461
144,865
Years 2-5
48,077
130,971
193,538
275,836
As lessor - operating leases

The operating leases represent a sub-lease of a building to third parties. The leases are negotiated over terms of 5 years and rentals are fixed for the duration of the lease term.

F. PARKINSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
22
Operating lease commitments
(Continued)
- 26 -
2025
2024
Future amounts receivable under operating leases:
£
£
Within 1 year
31,579
31,579
Years 2-5
9,474
41,053
41,053
72,632
23
Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102 1.12(e),not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

During the year, the company paid rent of £33,000 (20 2 4: £30,000) into the directors' pension fund.

24
Ultimate controlling party

The immediate parent company is Mowbray Holdings Limited and the ultimate parent company is Westcliffe Holdings Limited. Both companies are registered in England and Wales.

F. Parkinson Limited is consolidated within Westcliffe Holdings Limited's group financial statements and copies can be obtained on request from the groups registered office, 50 Mowbray Drive, Blackpool, Lancashire, FY3 7UN.

There is no ultimate controlling individual to disclose.

F. PARKINSON LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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