REGISTERED NUMBER: SC249072 (Scotland)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

EMTEC BUILDING SERVICES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

S A Barclay

M J Clinch

A T McKenzie

W Ottilinger

S P Stevenson

REGISTERED OFFICE:

29 Brandon Street

Hamilton

South Lanarkshire

ML3 6DA

REGISTERED NUMBER:

SC249072 (Scotland)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

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

Emtec Building Services Ltd is a leading contractor in the building services sector providing professional, quality and cost-efficient services throughout Scotland.

Our mission is to be the "Partner of Choice". Through excellence in customer service, quality, and assured delivery. We are people focused, with relationships and reputation being built on honesty, integrity and by providing safe sustainable business solutions.

Revenue in 2025 was largely static, declining by 1%. Gross profit is down 27% compared with 2024 at £6.6m, largely due to some exceptional contract returns in 2024 not repeating in 2025.A gross margin of 23% is still considered good for a business in this industry.Operating profits have returned to 2023 levels at close to break-even largely due to expected revenue levels not being secured and the business setup anticipated to be required to support this remaining in place. In general terms the market remains relatively subdued with projects taking a long time to complete the client procurement process and become live work.

REVIEW OF BUSINESS

The Company's key performance indicators (KPIs) are turnover, gross profit and operating profit before tax and cash flow. Turnover stayed relatively flat reducing by 1% compared to 2024. Gross profit reduced 27% to £6.6m returning to more normal levels.

Cash flow increased to £1.5m. This was supported by a receipt of £1.3m from a major client almost immediately after the 31 December cut off as well as clients that often pay late paying early in December 2025.

Year ending

Year ending

31 Dec 25

31 Dec 24

Change

£m

£m

%

Turnover

28.4

28.8

-1%

Gross Profit

6.6

9.1

-27%

Operating profit before tax

0.1

1.6

n/a

Cash flow

1.5

0.5

233%

ON BEHALF OF THE BOARD:

S P Stevenson - Director

13 May 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of electrical and mechanical contractors.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

S A Barclay

M J Clinch

A T McKenzie

W Ottilinger

S P Stevenson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, S&W Audit, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S P Stevenson - Director

13 May 2026

Opinion

We have audited the financial statements of Emtec Building Services Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation, employment and data protection;

- We assessed the extent of compliance with the laws and regulations identified above through making enquires of management and inspecting legal correspondence;

- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assess the susceptibility of material misstatement within the Company's financial statements, including obtaining an understanding of how fraud might occur by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgement and assumptions made in determining accounting estimates were indicative of potential bias; and

- Investigated the rationale behind any significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- Agreeing financial statement disclosures to underlying supporting documentation;

- Reading the minutes of meetings of those charged with governance;

- Enquiring of management as to actual potential litigation and claims; and

- Reviewing correspondence.

Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

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

Use of our report

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

Craig Hunter (Senior Statutory Auditor)

for and on behalf of S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

19 May 2026

TURNOVER

28,417,679

29,185,834

Cost of sales

(21,858,282

)

(20,030,609

)

GROSS PROFIT

6,559,397

9,155,225

Administrative expenses

(6,428,012

)

(7,588,230

)

131,385

1,566,995

Other operating income

30,439

9,444

OPERATING PROFIT

4

161,824

1,576,439

Interest receivable and similar income

40,881

10,310

202,705

1,586,749

Interest payable and similar expenses

5

(115,317

)

-

PROFIT BEFORE TAXATION

87,388

1,586,749

Tax on profit

6

(38,165

)

(92,827

)

PROFIT FOR THE FINANCIAL YEAR

49,223

1,493,922

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

49,223

1,493,922

FIXED ASSETS

Tangible assets

8

446,638

397,471

CURRENT ASSETS

Debtors

9

8,960,769

11,190,339

Cash at bank

3,535,632

2,084,364

12,496,401

13,274,703

CREDITORS

Amounts falling due within one year

10

(9,433,604

)

(10,224,254

)

NET CURRENT ASSETS

3,062,797

3,050,449

TOTAL ASSETS LESS CURRENT LIABILITIES

3,509,435

3,447,920

PROVISIONS FOR LIABILITIES

14

(111,659

)

(99,367

)

NET ASSETS

3,397,776

3,348,553

CAPITAL AND RESERVES

Called up share capital

15

50,000

50,000

Retained earnings

3,347,776

3,298,553

SHAREHOLDERS' FUNDS

3,397,776

3,348,553

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2026 and were signed on its behalf by:

S P Stevenson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

50,000

2,404,631

2,454,631

Changes in equity

Dividends

-

(600,000

)

(600,000

)

Total comprehensive income

-

1,493,922

1,493,922

Balance at 31 December 2024

50,000

3,298,553

3,348,553

Changes in equity

Total comprehensive income

-

49,223

49,223

Balance at 31 December 2025

50,000

3,347,776

3,397,776

1.	STATUTORY INFORMATION

Emtec Building Services Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

The Directors have prepared detailed forecasts, covering a period of at least 12 months from the date of signature of these financial statements, which show that the company will trade profitably over the following 12 months. The forecasts were largely built based on work already secured at the time of writing and orders close to being secured in the period. The company is further expected to be cash generative in the coming 12 months.

The company owes £1,770,000 (2024 - £1,852,325) to the parent company. Treasury management arrangements are in place across the wider group to support with cash requirements. Emtec Group Limited, as group parent, has confirmed that group balances will not be sought to the detriment of any of the subsidiary entities in the forecast period.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

The financial statements of the company are consolidated in the financial statements of Emtec Group Limited. The consolidated accounts of Emtec Group are available from the Registrar of Companies at Companies House.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience, knowledge of each contract and other factors that are considered to be relevant. Contract revenue and expenditure is reconciled monthly based on our understanding and forecasts. However, 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

KEY ACCOUNTING ESTIMATE - AMOUNTS RECOVERABLE ON CONTRACTS

Amounts recoverable on contracts is recognised in line with the construction contract debtor policy which includes estimates based on stage of completion and specific to individual contracts. Amounts recoverable on contracts is kept under constant review with appropriate provision made. The Directors monitor the risk profile of each individual contract and also consider exposure to any one debtor where a number of contracts are being delivered for that debtor and included within amounts recoverable on contracts.

KEY ACCOUNTING ESTIMATE - TRADE DEBTORS

The company monitors the risk profile of trade debtors regularly and makes a provision for amounts deemed not to be recoverable. All non-group outstanding debtor balances over 2 years would be recognised as non-recoverable in line with group policy.

TURNOVER AND REVENUE RECOGNITION

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

Turnover is derived from the various contracting activities of the company which includes construction contracts, maintenance contracts and other small works either on a fixed price or time and materials basis.

When the outcome of a construction contract can be estimated reliably and it is probable that the contract will be profitable, turnover and costs are recognised over the period of the contract.

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

When the outcome of a construction contract cannot be estimated reliably, contract turnover is recognised only to the extent of contract costs that it is probable will be recovered.

Contract costs include direct costs incurred in securing the contract that can be separately identified and measured reliably, if it is probable that the contract will be obtained. Costs incurred in securing a contract which have been expensed as incurred, are not included in contract costs if the contract is subsequently obtained.

The company uses the "percentage of completion method" to determine the appropriate amount to recognise in a given period usually with reference to work applied for on a monthly basis. 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 for contract costs in determining the stage of completion. These costs are presented as amounts recoverable on contracts provided it is probable they will be recovered.

Revenue in relation to maintenance contracts is recognised as costs are incurred. Work in progress is recognised in relation to minor additional works where the cost has been incurred and it is probable that the consideration due will be received.

Retentions are recognised in revenue following an assessment of their likely recoverability.

CONSTRUCTION CONTRACT DEBTORS

Construction contract debtors (amounts recoverable on contracts) represent the gross unbilled amount for contract work performed to date. They are measured at cost plus profit recognised to date (see the turnover accounting policy) less a provision for foreseeable losses and less progress billings. Variations are included in contract revenue when they are reliably measurable and it is probable that the customer will approve the variation itself and the revenue arising from the variation. Claims are included in contract revenue only when they are reliably measurable and negotiations have reached an advanced stage such that is probable that the customer will accept the claim. Cost includes all expenditure related directly to specific projects and an allocation of fixed and variable overheads incurred in the entity's contract activities based on normal operating capacity. Construction contract debtors (amounts recoverable on contracts) are presented as part of debtors in the balance sheet. If payments received from customers exceed the income recognised, then the difference is presented as accruals and deferred income in the balance sheet.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

33% per annum on cost and 20% per annum on cost

Fixtures and fittings

-

20% per annum on cost

Motor vehicles

-

25% per annum reducing balance

Computer equipment

-

20% per annum on cost

At each statement of financial position date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION

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

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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

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

HIRE PURCHASE AND LEASING COMMITMENTS

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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

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

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

9,270,937

8,924,452

Social security costs

933,810

813,679

Other pension costs

192,959

182,788

10,397,706

9,920,919

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

2025

2024

Direct wages

107

137

Directors and administration staff

48

63

155

200

2025

2024

£

£

Directors' remuneration

-

5,646

Directors' pension contributions to money purchase schemes

21,174

8,868

4.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

314,162

392,778

Other operating leases

239,962

205,852

Depreciation - owned assets

134,465

101,900

Profit on disposal of fixed assets

(14,444

)

(4,831

)

Auditors' remuneration

14,950

16,242

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Group loan interest

115,317

-

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

1,754

371,767

Tax over/under provided in

prior year

19,184

-

Group relief

4,935

-

Group relief prior year

-

(292,258

)

Total current tax

25,873

79,509

Deferred tax

12,292

13,318

Tax on profit

38,165

92,827

UK corporation tax has been charged at 25% (2024 - 25%).

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS

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

2025

2024

£

£

Profit before tax

87,388

1,586,749

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

21,847

396,687

Effects of:

Expenses not deductible for tax purposes

14,186

11,439

Income not taxable for tax purposes

(17,854

)

(9,723

)

Capital allowances in excess of depreciation

(12,449

)

(13,318

)

Group relief of losses

32,435

(292,258

)

Total tax charge

38,165

92,827

7.

DIVIDENDS

2025

2024

£

£

A ordinary shares of £1 each

Interim

-

600,000

8.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

34,900

379,644

500,082

12,111

926,737

Additions

-

1,666

177,012

5,580

184,258

Disposals

-

-

(100,065

)

-

(100,065

)

Reclassification/transfer

-

-

18,888

-

18,888

At 31 December 2025

34,900

381,310

595,917

17,691

1,029,818

DEPRECIATION

At 1 January 2025

30,958

227,909

269,156

1,243

529,266

Charge for year

1,075

40,423

89,748

3,219

134,465

Eliminated on disposal

-

-

(92,633

)

-

(92,633

)

Reclassification/transfer

-

-

12,082

-

12,082

At 31 December 2025

32,033

268,332

278,353

4,462

583,180

NET BOOK VALUE

At 31 December 2025

2,867

112,978

317,564

13,229

446,638

At 31 December 2024

3,942

151,735

230,926

10,868

397,471

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,046,738

1,635,374

Amounts owed by group undertakings

259,319

971,895

Amounts recoverable on contract

6,682,461

8,319,576

Other debtors

1,563

1,194

Tax

309,853

45,819

VAT

615,271

-

Prepayments and accrued income

45,564

216,481

8,960,769

11,190,339

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

7,400,936

7,629,962

Amounts owed to group undertakings

1,770,000

1,852,325

Social security and other taxes

169,797

184,360

VAT

-

373,953

Other creditors

20,976

51,253

Accruals and deferred income

71,895

132,401

9,433,604

10,224,254

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

109,355

116,504

Between one and five years

114,292

185,262

223,647

301,766

12.	SECURED DEBTS

Bank of Scotland Plc holds a floating charge over the assets of the company as security.

13.	FINANCIAL INSTRUMENTS

Financial assets measured at amortised cost comprise cash, trade debtors, amounts recoverable on contracts, amounts owed by group undertakings, other debtors and Directors' current accounts.

At the year end the company had financial assets measured at amortised cost totalling £11,311,958 (2024 - £12,256,990).

Financial liabilities measured at amortised cost comprise trade creditors, other creditors, amounts owed to group undertakings and accrued expenses.

At the year end the company had financial liabilities measured at amortised cost totalling £9,263,806 (2024 - £9,665,942).

14.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

111,659

99,367

Deferred

tax

£

Balance at 1 January 2025

99,367

Provided during year

12,292

Balance at 31 December 2025

111,659

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

50,000

A ordinary

£1

50,000

50,000