Company registration number 09286741 (England and Wales)
KONFORM (UK) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
KONFORM (UK) LIMITED
COMPANY INFORMATION
Directors
A O'Connor (Snr)
A O'Connor (Jnr)
Company number
09286741
Registered office
5 Beauchamp Court
Victors Way
Barnet
London
EN5 5TZ
Auditor
Xeinadin Audit Limited
5 Beauchamp Court
Victors Way
Barnet
London
EN5 5TZ
KONFORM (UK) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 22
KONFORM (UK) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 1 -

The directors present the strategic report for the year ended 31 October 2025.

Review of the business

The company specialises in the delivery of high-quality formed concrete structures and has built a reputation for reliability, technical competence, and consistent project execution.

During the year the company delivered a strong financial performance, with turnover reaching £3 6.3 million, reflect ing both the scale of projects undertaken and the company’s ability to secure and deliver new work in a competitive market.

Despite a challenging cost environment, including inflationary pressures on materials and subcontractor rates, profit margins were maintained. This outcome reflects improved cost control, tighter project management, and greater operational efficiency across the business.

The balance sheet remains robust, with net assets rising to £3.5 million and c ash at £3.6 million, providing confidence to customers whilst also ensuring a solid platform for future growth and investment.

Principal risks and uncertainties

The construction sector continues to face headwinds, including price inflation, skills shortages, and broader economic uncertainty. These factors can create pressure on margins and impact the timing or availability of new work.

The company recognises the importance of expanding its client base and continues to seek new opportunities in order to reduce reliance on any one customer and ensure a well-diversified pipeline. Maintaining strong relationships, delivering consistently high standards, and demonstrating value remain key to client retention and new business development.

Credit risk and working capital requirements are closely monitored, and the directors remain focused on preserving the company’s strong liquidity position.

Future Developments

Despite ongoing economic uncertainty, the directors are confident in the company’s ability to respond to market conditions. With a solid financial base, growing operational capacity and a clear focus on delivery, the company is well positioned to pursue new opportunities and continue delivering profitable results.

Key performance indicators
2025
2024
Turnover
£36.3m
£35.6m
Gross profit margin %
10.5%
9.5%
Profit before tax
£1.4m
£1.2m
Shareholders funds
£3.5m
£2.6m

On behalf of the board

A O'Connor (Jnr)
Director
23 April 2026
KONFORM (UK) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 October 2025.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £190,000. 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:

A O'Connor (Snr)
A O'Connor (Jnr)
Auditor

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

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

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.

On behalf of the board
A O'Connor (Jnr)
Director
23 April 2026
KONFORM (UK) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -

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.

KONFORM (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF KONFORM (UK) LIMITED
- 4 -
Opinion

We have audited the financial statements of Konform (UK) Limited (the 'company') for the year ended 31 October 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows 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 31 October 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.

KONFORM (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF KONFORM (UK) LIMITED (CONTINUED)
- 5 -
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.

Extent to which the audit was capable of detecting irregularities, including fraud

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 sector experience through discussion with the Directors (as required by auditing standards).

- we had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

- with the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Directors.

- we communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

- we addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

KONFORM (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF KONFORM (UK) LIMITED (CONTINUED)
- 6 -

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.

Mark Cook FCCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited
Statutory Auditor
5 Beauchamp Court
Victors Way
Barnet
London
EN5 5TZ
23 April 2026
KONFORM (UK) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
36,315,770
35,645,785
Cost of sales
(32,491,702)
(32,268,563)
Gross profit
3,824,068
3,377,222
Administrative expenses
(2,455,527)
(2,112,555)
Operating profit
4
1,368,541
1,264,667
Interest receivable and similar income
40,904
20,923
Interest payable and similar expenses
7
(50,944)
(62,703)
Profit before taxation
1,358,501
1,222,887
Tax on profit
8
(335,334)
(208,103)
Profit for the financial year
1,023,167
1,014,784

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

The notes on pages 11 to 22 form part of these financial statements.

KONFORM (UK) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
3,029,497
1,785,075
Current assets
Debtors
11
8,775,153
5,852,870
Cash at bank and in hand
3,600,323
2,858,243
12,375,476
8,711,113
Creditors: amounts falling due within one year
12
(10,650,441)
(7,125,701)
Net current assets
1,725,035
1,585,412
Total assets less current liabilities
4,754,532
3,370,487
Creditors: amounts falling due after more than one year
13
(635,909)
(329,024)
Provisions for liabilities
Deferred tax liability
15
660,443
416,450
(660,443)
(416,450)
Net assets
3,458,180
2,625,013
Capital and reserves
Called up share capital
17
100
100
Profit and loss reserves
3,458,080
2,624,913
Total equity
3,458,180
2,625,013

The notes on pages 11 to 22 form part of these financial statements.

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 23 April 2026 and are signed on its behalf by:
A O'Connor (Jnr)
Director
Company registration number 09286741 (England and Wales)
KONFORM (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 9 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 November 2023
100
1,800,129
1,800,229
Year ended 31 October 2024:
Profit and total comprehensive income
-
1,014,784
1,014,784
Dividends
9
-
(190,000)
(190,000)
Balance at 31 October 2024
100
2,624,913
2,625,013
Year ended 31 October 2025:
Profit and total comprehensive income
-
1,023,167
1,023,167
Dividends
9
-
(190,000)
(190,000)
Balance at 31 October 2025
100
3,458,080
3,458,180

The notes on pages 11 to 22 form part of these financial statements.

KONFORM (UK) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
2,174,512
2,616,418
Interest paid
(50,944)
(62,703)
Income taxes (paid)/refunded
(160,642)
4,174
Net cash inflow from operating activities
1,962,926
2,557,889
Investing activities
Purchase of tangible fixed assets
(695,240)
(604,146)
Proceeds from disposal of tangible fixed assets
128,876
137,205
Interest received
40,904
20,923
Net cash used in investing activities
(525,460)
(446,018)
Financing activities
(Payment)/Repayment of loans made
(149,217)
104,881
Repayment of bank loans
-
0
(26,777)
Payment of finance leases obligations
(356,169)
(55,697)
Dividends paid
(190,000)
(190,000)
Net cash used in financing activities
(695,386)
(167,593)
Net increase in cash and cash equivalents
742,080
1,944,278
Cash and cash equivalents at beginning of year
2,858,243
913,965
Cash and cash equivalents at end of year
3,600,323
2,858,243

The notes on pages 11 to 22 form part of these financial statements.

KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 11 -
1
Accounting policies
Company information

Konform (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Beauchamp Court, Victors Way, Barnet, London, EN5 5TZ.

1.1
Basis of preparation

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. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Revenue

Turnover represents the value of services rendered during the period excluding discounts and value added tax. The value of services rendered is calculated as the certified work adjusted for over and under measure. As described in more detail in the construction contract note 1.6, revenue and costs are recognised by reference to the stage of completion of construction where it can be reliably measured.

1.4
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:

Plant and equipment
10%-20% reducing balance
Motor vehicles
20% reducing balance

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.

1.5
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.

KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 12 -

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.

1.6
Construction contracts

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.

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.

1.7
Cash and cash equivalents

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.

KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 13 -
1.8
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.

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.

KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 14 -
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.

1.9
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.

1.10
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 15 -

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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.

1.12
Retirement benefits

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

1.13
Leases
As lessee

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 d asset is consumed.

1.14

Comparative figures

Certain comparative amounts have been reclassified to conform with the current year presentation. The reclassification has had no impact on profit or net assets in either period.

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.

KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 16 -
3
Turnover

The turnover and profit before taxation are attributable to one principal activity, construction services. Turnover is attributable to a single geographical market, United Kingdom.

4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
208,160
156,331
Depreciation of finance leased and hire purchased tangible fixed assets
113,251
128,703
(Profit)/loss on disposal of tangible fixed assets
(11,494)
11,437
Operating lease charges
2,211,670
2,378,312
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
20,500
18,500
6
Employees

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

2025
2024
Number
Number
Management
2
2
Administration
5
5
Other staff
5
7
Total
12
14

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
389,065
377,124
Social security costs
60,795
39,091
Pension costs
7,213
3,888
457,073
420,103
KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 17 -
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost
Interest on bank overdrafts and loans
2,664
8,995
Other finance costs
Interest on finance leases and hire purchase contracts
48,280
53,708
50,944
62,703
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
91,341
114,471
Adjustments in respect of prior periods
-
0
3,238
Total current tax
91,341
117,709
Deferred tax
Origination and reversal of timing differences
243,993
90,394
Total tax charge
335,334
208,103

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
1,358,501
1,222,887
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
339,625
305,722
Tax effect of expenses that are not deductible in determining taxable profit
7,839
7,916
Adjustments in respect of prior years
-
0
3,238
Permanent capital allowances in excess of depreciation
(256,123)
(105,196)
Research and development tax credit
-
0
(93,971)
Deferred tax movements
243,993
90,394
Taxation charge for the year
335,334
208,103
KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 18 -
9
Dividends
2025
2024
£
£
Interim paid
190,000
190,000
10
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 November 2024
2,027,822
484,988
2,512,810
Additions
1,092,634
590,581
1,683,215
Disposals
-
0
(209,083)
(209,083)
At 31 October 2025
3,120,456
866,486
3,986,942
Depreciation and impairment
At 1 November 2024
501,655
226,080
727,735
Depreciation charged in the year
222,369
99,042
321,411
Eliminated in respect of disposals
-
0
(91,701)
(91,701)
At 31 October 2025
724,024
233,421
957,445
Carrying amount
At 31 October 2025
2,396,432
633,065
3,029,497
At 31 October 2024
1,526,167
258,908
1,785,075

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
1,113,120
711,572
Motor vehicles
404,381
75,337
1,517,501
786,909
KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 19 -
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,059,682
1,495,075
Amounts recoverable on contracts
3,019,374
2,674,714
Other debtors
2,621,886
1,386,270
Prepayments and accrued income
189,602
105,283
7,890,544
5,661,342
2025
2024
Amounts falling due after more than one year:
£
£
Amounts recoverable on contracts
884,609
191,528
Total debtors
8,775,153
5,852,870
12
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance lease and hire purchase
14
527,547
202,626
Trade creditors
7,175,122
3,720,674
Gross amounts owed to contract customers
2,592,321
2,835,538
Corporation tax
91,341
160,642
Other taxation and social security
22,848
62,329
Other creditors
53,862
78,338
Accruals and deferred income
187,400
65,554
10,650,441
7,125,701
13
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance lease and hire purchase
14
635,909
329,024
KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 20 -
14
Finance lease obligations and hire purchase liabilities
2025
2024
Future minimum lease payments due under finance lease and hire purchase contracts:
£
£
Within one year
406,176
202,626
In two to five years
757,280
329,024
1,163,456
531,650
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
660,443
416,450
2025
Movements in the year:
£
Liability at 1 November 2024
416,450
Charge to profit or loss
243,993
Liability at 31 October 2025
660,443
16
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
7,213
3,888

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.

17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 21 -
18
Securities and charges

The company has granted a debenture comprising fixed and floating charges over all of its assets and undertaking as security for borrowings of £923,353 (2024: £997,305) made by a fellow subsidiary in respect of the purchase of land. No provision has been made in the financial statements as the directors consider the risk of the security being called upon to be remote.

19
Related party transactions

During the period, the following transactions incurred with related parties:

- Services totalling £163,680 were provided by a related company under common control of the directors.

- The company provided loans totalling £484,555 to connected companies. The loans are non-interest bearing and repayable on demand. At the year end, the total balance owed by related companies was £1,4 3 6,0 45 (202 4: £921,790), included within other debtors.

20
Directors' transactions

Dividends totalling £190,000 (2024 - £190,000) were paid in the year in respect of shares held by the company's directors.

The company maintains a loan account with its director s. As at the year end, the company was owed £288,655 (20 24: £139,240 ). The loan is repayable on demand and carries an interest rate of 3.75% per annum.

21
Ultimate controlling party

At the reporting date, the company was a wholly owned subsidiary of Konform Holdings Ltd, which is its immediate and ultimate parent undertaking. Konform Holdings Ltd is incorporated in England and Wales and its registered office is at 5 Beauchamp Court, Victors Way, Barnet, London, EN5 5TZ.

There has been no change in the ultimate ownership of the company.

22
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,023,167
1,014,784
Adjustments for:
Taxation charged
335,334
208,103
Finance costs
50,944
62,703
Investment income
(40,904)
(20,923)
(Gain)/loss on disposal of tangible fixed assets
(11,494)
11,437
Depreciation and impairment of tangible fixed assets
321,411
285,034
Movements in working capital:
Increase in debtors
(2,773,066)
(1,389,967)
Increase in creditors
3,269,120
2,445,247
Cash generated from operations
2,174,512
2,616,418
KONFORM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 22 -
23
Analysis of changes in net funds
1 November 2024
Cash flows
31 October 2025
£
£
£
Cash at bank and in hand
2,858,243
742,080
3,600,323
Obligations under finance lease and hire purchase
(531,650)
(631,806)
(1,163,456)
2,326,593
110,274
2,436,867
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