REGISTERED NUMBER: 11320575 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

C&R CONSTRUCTION SOUTH WEST LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

W R Dodd

C K Furse

REGISTERED OFFICE:

Lower Park

Coldridge

Crediton

Devon

EX17 6AS

REGISTERED NUMBER:

11320575 (England and Wales)

AUDITORS:

Mitchells

Chartered Accountants and Statutory Auditors

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

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

ON BEHALF OF THE BOARD:

C K Furse - Director

28 May 2026

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

PRINCIPAL ACTIVITY

C&R Construction South West Ltd specialises in the design, fabrication, and installation of steel-framed buildings for the agricultural, commercial, and industrial sectors. The company offers a comprehensive service, managing projects from initial design and planning through to fabrication, installation, and final completion. This end-to-end capability ensures seamless project delivery, maintaining high standards of quality and efficiency.

DIVIDENDS

Ordinary dividends were paid amounting to £2,729,762. The directors do not recommend payment of a further dividend.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2024 to the date of this report.

W R Dodd

C K Furse

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, Mitchells, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C K Furse - Director

28 May 2026

Opinion

We have audited the financial statements of C&R Construction South West Ltd (the 'company') for the year ended 31 August 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 August 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.

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

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

- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

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

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

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities. It is the primary responsibility of management and those charged with governance to ensure that the entity's operations are conducted in accordance with the provisions of the laws and regulations and for the prevention and detection of fraud.

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.

James R Biggs (Senior Statutory Auditor)

for and on behalf of Mitchells

Chartered Accountants and Statutory Auditors

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

28 May 2026

TURNOVER

20,120,970

15,177,246

Cost of sales

15,368,304

11,287,784

GROSS PROFIT

4,752,666

3,889,462

Administrative expenses

1,501,826

1,534,145

OPERATING PROFIT

4

3,250,840

2,355,317

Interest receivable and similar income

57,818

44,224

3,308,658

2,399,541

Amounts written off investments

5

18,690

-

3,289,968

2,399,541

Interest payable and similar expenses

6

1,047

295

PROFIT BEFORE TAXATION

3,288,921

2,399,246

Tax on profit

7

941,238

476,682

PROFIT FOR THE FINANCIAL YEAR

2,347,683

1,922,564

PROFIT FOR THE YEAR

2,347,683

1,922,564

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,347,683

1,922,564

FIXED ASSETS

Intangible assets

9

206,930

216,930

Tangible assets

10

1,632,021

1,362,827

1,838,951

1,579,757

CURRENT ASSETS

Stocks

11

184,778

151,455

Debtors

12

3,848,807

3,510,656

Cash at bank

1,734,899

2,043,408

5,768,484

5,705,519

CREDITORS

Amounts falling due within one year

13

2,575,239

1,931,732

NET CURRENT ASSETS

3,193,245

3,773,787

TOTAL ASSETS LESS CURRENT LIABILITIES

5,032,196

5,353,544

CREDITORS

Amounts falling due after more than one year

14

(15,200

)

(21,767

)

PROVISIONS FOR LIABILITIES

16

(408,005

)

(340,707

)

NET ASSETS

4,608,991

4,991,070

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

4,608,891

4,990,970

SHAREHOLDERS' FUNDS

4,608,991

4,991,070

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by:

C K Furse - Director

W R Dodd - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

100

5,618,687

5,618,787

Changes in equity

Dividends

-

(2,550,281

)

(2,550,281

)

Total comprehensive income

-

1,922,564

1,922,564

Balance at 31 August 2024

100

4,990,970

4,991,070

Changes in equity

Dividends

-

(2,729,762

)

(2,729,762

)

Total comprehensive income

-

2,347,683

2,347,683

Balance at 31 August 2025

100

4,608,891

4,608,991

Cash flows from operating activities

Cash generated from operations

1

3,396,384

1,969,461

Interest element of hire purchase payments paid

(1,047

)

(295

)

Tax paid

(556,297

)

(699,199

)

Net cash from operating activities

2,839,040

1,269,967

Cash flows from investing activities

Purchase of tangible fixed assets

(522,038

)

(478,112

)

Sale of tangible fixed assets

12,500

107,747

Interest received

57,818

44,224

Net cash from investing activities

(451,720

)

(326,141

)

Cash flows from financing activities

Capital repayments in year

33,933

47,767

Equity dividends paid

(2,729,762

)

(2,550,281

)

Net cash from financing activities

(2,695,829

)

(2,502,514

)

Decrease in cash and cash equivalents

(308,509

)

(1,558,688

)

Cash and cash equivalents at beginning of year

2

2,043,408

3,602,096

Cash and cash equivalents at end of year

2

1,734,899

2,043,408

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

31.8.25

31.8.24

£

£

Profit before taxation

3,288,921

2,399,246

Depreciation charges

249,585

215,035

Loss on disposal of fixed assets

759

804

Finance costs

1,047

295

Finance income

(57,818

)

(44,224

)

3,482,494

2,571,156

Increase in stocks

(33,323

)

(66,143

)

Increase in trade and other debtors

(338,151

)

(84,106

)

Increase/(decrease) in trade and other creditors

285,364

(451,446

)

Cash generated from operations

3,396,384

1,969,461

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2025

31.8.25

1.9.24

£

£

Cash and cash equivalents

1,734,899

2,043,408

Year ended 31 August 2024

31.8.24

1.9.23

£

£

Cash and cash equivalents

2,043,408

3,602,096

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.24

Cash flow

At 31.8.25

£

£

£

Net cash

Cash at bank

2,043,408

(308,509

)

1,734,899

2,043,408

(308,509

)

1,734,899

Debt

Finance leases

(47,767

)

(33,933

)

(81,700

)

(47,767

)

(33,933

)

(81,700

)

Total

1,995,641

(342,442

)

1,653,199

1.	STATUTORY INFORMATION

C&R Construction South West Ltd is a private company, limited by shares , registered in England and Wales. 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on reducing balance

Fixtures and fittings

-

20% on cost

Motor vehicles

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Hire purchase and leasing commitments

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

31.8.25

31.8.24

£

£

Wages and salaries

1,861,415

1,589,925

Social security costs

1,302

-

Other pension costs

199,452

156,839

2,062,169

1,746,764

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

31.8.25

31.8.24

Administration

10

10

General

29

26

Directors

2

2

41

38

31.8.25

31.8.24

£

£

Directors' remuneration

18,200

18,200

Directors' pension contributions to money purchase schemes

126,095

128,333

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.8.25

31.8.24

£

£

Hire of equipment

564,377

405,667

Equipment repairs

73,003

74,382

Depreciation - owned assets

239,585

205,035

Loss on disposal of fixed assets

759

804

Goodwill amortisation

10,000

10,000

Auditors' remuneration

7,725

7,594

5.

AMOUNTS WRITTEN OFF INVESTMENTS

31.8.25

31.8.24

£

£

Amounts w/o invs

18,690

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.8.25

31.8.24

£

£

Hire purchase

1,047

295

7.

TAXATION

Analysis of the tax charge

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

31.8.25

31.8.24

£

£

Current tax:

UK corporation tax

873,940

435,550

Deferred tax

67,298

41,132

Tax on profit

941,238

476,682

8.

DIVIDENDS

31.8.25

31.8.24

£

£

Ordinary Shares shares of 100 each

Final

2,729,762

2,550,281

9.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2024

and 31 August 2025

276,930

AMORTISATION

At 1 September 2024

60,000

Amortisation for year

10,000

At 31 August 2025

70,000

NET BOOK VALUE

At 31 August 2025

206,930

At 31 August 2024

216,930

10.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 September 2024

1,626,209

18,373

723,354

2,367,936

Additions

346,297

3,872

171,869

522,038

Disposals

(43,500

)

-

-

(43,500

)

At 31 August 2025

1,929,006

22,245

895,223

2,846,474

DEPRECIATION

At 1 September 2024

708,898

11,936

284,275

1,005,109

Charge for year

162,815

2,146

74,624

239,585

Eliminated on disposal

(30,241

)

-

-

(30,241

)

At 31 August 2025

841,472

14,082

358,899

1,214,453

NET BOOK VALUE

At 31 August 2025

1,087,534

8,163

536,324

1,632,021

At 31 August 2024

917,311

6,437

439,079

1,362,827

11.

STOCKS

31.8.25

31.8.24

£

£

Stocks

184,778

151,455

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

3,791,866

3,451,083

Other debtors

42,069

45,210

Prepayments

14,872

14,363

3,848,807

3,510,656

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Hire purchase contracts (see note 15)

66,500

26,000

Trade creditors

1,419,052

1,236,053

Tax

351,859

34,216

Social security and other taxes

107,625

87,218

VAT

565,629

448,863

Other creditors

42,651

78,503

Accruals and deferred income

21,923

20,879

2,575,239

1,931,732