Company registration number 00446451 (England and Wales)
MYERS GROUP 1959 LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
MYERS GROUP 1959 LTD
COMPANY INFORMATION
Directors
J D M Berry
K E M Berry
Company number
00446451
Registered office
Myers House
Barr Street
Off Leeds Road
Huddersfield
HD1 6PB
Auditor
Simpson Wood Limited
Bank Chambers
Market Street
Huddersfield
HD1 2EW
Solicitors
Gordons LLP
Riverside West
Whitehall Road
Leeds
LS1 4AW
MYERS GROUP 1959 LTD
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 21
MYERS GROUP 1959 LTD
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

The principal activity of the c ompany is that of an intermediate holding company within a group involved in builders merchanting, readymix concrete, dimension stone and aggregates and skip hire.

Principal risks and uncertainties

The directors do not believe there to be any risks or uncertainties directly affecting the c ompany, given its position as an intermediate holding company.

Key performance indicators

The directors of Myers Group 1959 Ltd do not believe that an analysis using KPIs for the Company is necessary or appropriate for an understanding of the performance or position of the business of the Company. The performance and position of the wider Group, which includes the Company is discussed in the Isaac Timmins Limited annual report, which does not form part of this report. Copies of the Group's consolidated financial statements can be obtained from Companies House.

On behalf of the board

J D M Berry
Director
7 May 2026
MYERS GROUP 1959 LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

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

Principal activities

The principal activity of the c ompany is that of an intermediate holding company within a group involved in builders merchanting, readymix concrete, dimension stone and aggregates and skip hire.

Results and dividends

The profit for the year, after taxation, amounted to £45,749 (2024: £104,644 loss).

Total dividends for the financial period amounted to nil (202 4: nil).

Directors

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

A J M Berry
(Resigned 31 July 2025)
J D M Berry
K E M Berry
Post reporting date events

There have been no significant events affecting the c ompany since the year end.

Auditor

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

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.

Going concern

The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the Company and Group to continue as a going concern.

Small companies exemption

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

On behalf of the board
J D M Berry
Director
7 May 2026
MYERS GROUP 1959 LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 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.

MYERS GROUP 1959 LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MYERS GROUP 1959 LTD
- 4 -
Opinion

We have audited the financial statements of Myers Group 1959 Ltd (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.

MYERS GROUP 1959 LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MYERS GROUP 1959 LTD (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 and 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; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report.

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.

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

MYERS GROUP 1959 LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MYERS GROUP 1959 LTD (CONTINUED)
- 6 -
Extent to which the audit was considered capable of detecting irregularies including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- 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 Companies Act 2006, taxation legislation, data protection, anti-bribery, emplo yment and heath and safety legislation;

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

- 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 assessed the susceptibility of the company’s financial statements to material misstatement, 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 and.

- performed analytical procedures to identify any unusual or unexpected relationships.

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

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias and;

- investigated the rationale behind 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 and;

- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

MYERS GROUP 1959 LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MYERS GROUP 1959 LTD (CONTINUED)
- 7 -
Daniel McAllister FCA (Senior Statutory Auditor)
For and on behalf of Simpson Wood Limited, Statutory Auditor
Chartered Accountants
Bank Chambers
Market Street
Huddersfield
HD1 2EW
7 May 2026
MYERS GROUP 1959 LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
-
-
Administrative expenses
(4,024)
(234,564)
Other operating income
2,650
133,492
Operating loss
3
(1,374)
(101,072)
Interest payable and similar expenses
5
1,374
(10,120)
Amounts written off investments
6
9,634
-
Profit/(loss) before taxation
9,634
(111,192)
Tax on profit/(loss)
7
35,252
6,548
Profit/(loss) for the financial year
44,886
(104,644)

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

MYERS GROUP 1959 LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
8
141,846
152,725
Investments
9
806,490
807,386
948,336
960,111
Current assets
Debtors
11
4,185,833
2,138,294
Cash at bank and in hand
85,739
2,101,346
4,271,572
4,239,640
Creditors: amounts falling due within one year
12
(2,562,843)
(2,386,576)
Net current assets
1,708,729
1,853,064
Total assets less current liabilities
2,657,065
2,813,175
Creditors: amounts falling due after more than one year
13
(2,373,866)
(2,575,825)
Provisions for liabilities
Deferred tax liability
16
9,928
8,965
(9,928)
(8,965)
Net assets
273,271
228,385
Capital and reserves
Called up share capital
17
15,000
15,000
Profit and loss reserves
18
258,271
213,385
Total equity
273,271
228,385

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 May 2026 and are signed on its behalf by:
J D M Berry
Director
Company registration number 00446451 (England and Wales)
MYERS GROUP 1959 LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2023
15,000
318,029
333,029
Year ended 30 September 2024:
Loss and total comprehensive income for the year
-
(104,644)
(104,644)
Balance at 30 September 2024
15,000
213,385
228,385
Year ended 30 September 2025:
Profit and total comprehensive income for the year
-
44,886
44,886
Balance at 30 September 2025
15,000
258,271
273,271
MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
1
Accounting policies
Company information

Myers Group 1959 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Myers House, Barr Street, Off Leeds Road, Huddersfield, HD1 6PB.

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. 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 exemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; 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 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

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

Myers Group 1959 Ltd is a wholly owned subsidiary of Myers Group Holdings Ltd. The ultimate parent of the group is Isaac Timmins Limited and the results of Myers Group 1959 Ltd are included in the consolidated financial statements of Isaac Timmins Ltd which are available from Companies House.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

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.

MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 12 -
1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

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 machinery
10 years straight line
Fixture, fittings and office equipment
5 years straight line
Motor vehicles
10 years straight line (weighted as the life of the asset reduces)

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
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 13 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.7
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.

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.

1.8
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.

1.9
Taxation

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

MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 14 -
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.

1.10
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.

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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Assessings indicators of impairment

In assessing whether there have been any indicators of impairment assets, management have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability and where applicable, the ability of the asset to be operated as planned. There have been no indicators of impairments identified during the current financial year.

MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 15 -
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.

Determing residual values and useful economic lives of tangible assets

The Company depreciates tangible assets, over their estimated useful lives. The estimation of the useful lives of tangible assets is based on historic performance as well as expectations about future use. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Judgement is also applied, when determining the residual values for fixed assets. When determining the residual value, the directors have assessed the amount that the Company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful life. Where possible this is done with reference to external market prices.

3
Operating loss
2025
2024
Operating loss for the year is stated after charging/(crediting):
£
£
Depreciation of tangible fixed assets
30,822
40,456
Profit on disposal of tangible fixed assets
(26,798)
-
4
Employees

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

2025
2024
Number
Number
Office and management
3
3

The Company has no employees other than the directors, who did not receive any remuneration. (202 4: £nil)

5
Interest payable and similar expenses
2025
2024
£
£
Interest on finance leases and hire purchase contracts
(1,374)
10,120
6
Amounts written off investments
2025
2024
£
£
Amounts written back to current loans
10,530
-
Other gains and losses
(896)
-
9,634
-
MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 16 -
7
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
(23,119)
-
0
Deferred tax
Origination and reversal of timing differences
(12,133)
(6,548)
Total tax credit
(35,252)
(6,548)

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

2025
2024
£
£
Profit/(loss) before taxation
9,634
(111,192)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
2,409
(27,798)
Tax effect of expenses that are not deductible in determining taxable profit
-
0
20,728
Tax effect of income not taxable in determining taxable profit
(9,009)
-
0
Tax effect of utilisation of tax losses not previously recognised
-
0
522
Adjustments in respect of prior years
(36,215)
-
0
Group relief
863
-
0
Permanent capital allowances in excess of depreciation
5,737
6,548
Fixed asset differences deferred tax movement
963
(6,548)
Taxation credit for the year
(35,252)
(6,548)
MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 17 -
8
Tangible fixed assets
Plant and machinery
Fixture, fittings and office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2024
433,392
71,269
422,923
927,584
Additions
12,195
-
0
8,450
20,645
Disposals
-
0
(9,874)
(28,052)
(37,926)
At 30 September 2025
445,587
61,395
403,321
910,303
Depreciation and impairment
At 1 October 2024
318,845
64,483
391,531
774,859
Depreciation charged in the year
18,469
3,187
9,166
30,822
Eliminated in respect of disposals
-
0
(9,874)
(27,350)
(37,224)
At 30 September 2025
337,314
57,796
373,347
768,457
Carrying amount
At 30 September 2025
108,273
3,599
29,974
141,846
At 30 September 2024
114,547
6,786
31,392
152,725
9
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
10
806,490
807,386
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 October 2024 & 30 September 2025
807,386
Impairment
At 1 October 2024
-
Impairment losses
896
At 30 September 2025
896
Carrying amount
At 30 September 2025
806,490
At 30 September 2024
807,386
MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
10
Subsidiaries

Details of the company's subsidiaries at 30 September 2025 are as follows:

Name of undertaking
Class of
% Held
shares held
Direct
Indirect
Myers Building Supplies Ltd
Ordinary
100.00
-
Johnsons Wellfield Ltd
Ordinary
100.00
-
Myers Skip Hire Ltd
Ordinary
100.00
-
Readymix Huddersfield Ltd
Ordinary
100.00
-
Cliffe Road Garage Ltd
Ordinary
100.00
-
Mini Mix-Huddersfield Ltd
Ordinary
100.00
-
Mobile Concrete Pumps Ltd
Ordinary
100.00
-
HSH Skip Hire Ltd
Ordinary
100.00
-
Huddersfield Skip Hire Ltd
Ordinary
100.00
-
Wellfield Holmes Ltd
Ordinary
100.00
-
Naylor Bros (Denby Dale) Ltd
Ordinary
100.00
-
Blastmixer International Ltd
Ordinary
100.00
-
Drayson & Sons (Timber Merchant) Ltd
Ordinary
0
100.00
Baildon Properties Ltd
Ordinary
0
100.00
Baildon Timber Ltd
Ordinary
0
100.00
Northern Interstate Services Ltd
Ordinary
0
100.00

All of the above subsidiaries have registered offices at 5 Barr Street, Off Leeds Road, Huddersfield, HD1 6PB.

11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
36,720
Amounts owed by group undertakings
4,147,472
1,726,882
Other debtors
3,852
-
0
Prepayments and accrued income
34,509
374,692
4,185,833
2,138,294
12
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
14
309,168
351,668
Obligations under finance leases
15
22,652
47,395
Share capital treated as debt
14
15,000
15,000
Corporation tax
-
0
59,839
Other taxation and social security
1,872,790
1,707,112
Other creditors
343,233
205,562
2,562,843
2,386,576
MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
13
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
14
2,333,324
2,575,825
Obligations under finance leases
15
40,542
-
0
2,373,866
2,575,825

14
Loans and overdrafts
2025
2024
£
£
Bank loans
2,642,492
2,927,493
Preference shares
15,000
15,000
2,657,492
2,942,493
Payable within one year
324,168
366,668
Payable after one year
2,333,324
2,575,825

The bank loan is secured by a cross guarantee and debenture between all group companies. Various properties within the company are also secured by a first legal charge with the bank.

A fixed charge with the bank exists over all book debts.

The net obligations under hire purchase contracts are secured against the assets to which they relate.

The amounts due to group undertakings are repayable on demand and do not incur interest charges.

The bank loan is repayable in quarterly amounts of £66,667.

15
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
22,652
47,395
After more than one year
40,542
-
0
63,194
47,395
MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
15
Finance lease obligations
(Continued)
- 20 -
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
22,652
47,395
In two to five years
40,542
-
0
63,194
47,395
16
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
9,928
8,965
2025
Movements in the year:
£
Liability at 1 October 2024
8,965
Charge to profit or loss
963
Liability at 30 September 2025
9,928
17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
'A' Ordinary shares of £1 each
9,000
9,000
9,000
9,000
'B' Ordinary shares of £1 each
6,000
6,000
6,000
6,000
15,000
15,000
15,000
15,000
2025
2024
2025
2024
Preference share capital
Number
Number
£
£
Issued and fully paid
5% Preference shares of £1 each
15,000
15,000
15,000
15,000
Preference shares classified as liabilities
15,000
15,000
MYERS GROUP 1959 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
17
Share capital
(Continued)
- 21 -

The holders of the preference shares are entitled to a fixed cumulative preferential dividend of 7.5% per annum and in the event of the company being wound up, the holders are entitled to have the surplus ass et s of the company applied in the first place in repaying them the amount paid up on the shares and secondly in paying them arrears of dividends. The shares confer no other rights to any profits or assets of the company.

The holders of the redeemable preference shares are entitled to a preferential dividend of 5% and in the event of the Company being wound up are entitled to have the surplus assets of the Company applied in the first place in repaying them the amount paid up on the shares.

The Company may redeem the whole or any part of the preference shares on giving 28 days' notice.

The holders of 'A' and 'B' ordinary shares have equal rights to dividends and the distribution of surplus

assets.

18
Reserves
Profit and loss reserves

The profit and loss account represents the accumulated gains and losses of the Company. This profit and loss account contains both distributable and non-distributable reserves. Distributable reserves amount to £251,351 as at 30 September 202 5 (202 4: £206,465).

19
Financial commitments, guarantees and contingent liabilities

The Company is a member of the Myers Group 1959 Limited VAT scheme under Section 43 of the Value Added Tax Act 1994 and in consequence may be held responsible for the liabilities of other members which at 30 September 2025 totalled £1,382,507 (2024: £1,391,208).

20
Related party transactions

The Company is a wholly owned subsidiary undertaking and as such has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures' not to provide disclosures of transactions entered into with the parent company or other wholly owned subsidiaries within the group. The consolidated financial statements of Isaac Timmins Limited can be obtained from Companies House.

At the year ended 30 September 202 5 James Berry directors loan account was overdrawn with a balance of £2,880 (202 4: £nil).

21
Ultimate controlling party

The immediate parent undertaking is Myers Group Holdings Limited.

In the directors' opinion the company's ultimate parent undertaking is Isaac Timmins Limited and there is no single ultimate controlling party.

The following are t he parents of the largest and smallest groups in which this company's results are consolidated:

Largest group
Isaac Timmins limited
Smallest group
None
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