REGISTERED NUMBER: 10734534 (England and Wales)

QUINN GROUNDWORKS AND

CONSTRUCTION LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Statement of Directors' Responsibilities

5

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

16

DIRECTORS:

K Quinn

G Quinn

REGISTERED OFFICE:

Unit 13

Apex Business Park

Boscombe Road

Dunstable

Bedfordshire

LU5 4SB

REGISTERED NUMBER:

10734534 (England and Wales)

SENIOR STATUTORY AUDITOR:

Donald Brown FCA

AUDITORS:

Higginson & Co (UK) Ltd

Statutory Auditors

3 Kensworth Gate

200 - 204 High Street South

Dunstable

Bedfordshire

LU6 3HS

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

REVIEW OF BUSINESS

The companies principal activity in the year continued to be groundworks and construction projects.

The key financial and other performance indicators in the year were as follows:

2025

2024

Turnover

36,023

31,618

Total Operating Profit

1,552

3,626

Profit after tax

1,141

2,255

Shareholders funds

8,875

7,735

All results are denoted in thousands.

The directors are pleased with the results for the year. They believe that the business remains in a strong position.

The financial statements have been prepared on a going concern basis.

Economic impact of global events

UK businesses are currently facing many uncertainties such as the continuing consequences of Brexit, environmental sustainability and geopolitical events such as the Russian invasion of Ukraine and the current crisis in the Middle East and the Levant . These uncertainties have contributed to an environment where there exists a range of issues and risks, including inflation, rising interest rates, labour shortages, disrupted supply chains and new ways of working.

The Directors have considered these uncertainties and have concluded that the greater impact on the business is expected to be from the economic ripple effect on the global economy.

Quinn Groundworks and Construction Ltd continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business.

PRINCIPAL RISKS AND UNCERTAINTIES

Price/market risk

The directors are aware of the risk from changes in prices and aim to adjust prices of such products to maintain margin in the face of such changes. The directors actively monitor competitor activity to ensure that the company is well positioned in the market place. However while the housing market remains buoyant, the impact of Brexit causing a slow down is a potential risk.

Fair value interest rate risk

Trade debtors and creditors do not attract interest and are therefore not subject to fair value interest rate risk.

Credit risk

The company monitors the risk on credit allowed to customers, credit control procedures are reviewed and revised as necessary to ensure any credit risk is kept to a minimum.

Liquidity risk

The company considers its exposure to liquidity risk to be comparatively low and has a conservative approach to expenditure and investments but reviews this on an ongoing basis.

Covid 19/Future pandemic mitigation

The company has instigated practices in line with government recommendations to mitigate the impact of a pandemic and the potential restrictions applied to businesses and the general public. The company has ensured that they operate in a safe environment and has taken measure to monitor the compliance and outcomes. The industry was in general been able to continue to operate subject to some restrictions.

Geopolitical uncertainty

The current geopolitical uncertainty may affect confidence in the construction industry with a funding impact on major projects being a possible result. This may impact in the short to medium term but the company has initiatives in place to mitigate and issues that may arise.

DISCLOSURE OF INFORMATION TO THE AUDITOR

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that

- so far as the Director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

- the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

ON BEHALF OF THE BOARD:

Director

2 June 2026

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

DIVIDENDS

No dividends will be distributed for the year ended 30 April 2025.

DIRECTORS

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

K Quinn

G Quinn

POLITICAL DONATIONS AND EXPENDITURE

The company made the following donations in the year, all donations were for charitable purposes:

Various smaller amounts other UK local charities amounting to £3528

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, Higginson & Co (UK) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G Quinn - Director

2 June 2026

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.

Opinion

We have audited the financial statements of Quinn Groundworks and Construction Limited (the 'company') for the year ended 30 April 2025 which comprise the Statement of 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 30 April 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, the Report of the Directors and the Statement of Directors' Responsibilities, 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 five, 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:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified

-the nature of the industry and sector, control environment and business performance including the design of the remuneration policy;

-results of our enquiries of management about their own identification and assessment of the risks of irregularities;

-any matters we identified having obtained and reviewed the Company documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team, including tax regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK

Companies Act, UK Corporate Governance Code and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty. These included compliance with Financial Conduct Authority regulation for the UK operating segment and compliance with local legislation.

Conclusions regarding the risks of irregularities including fraud

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.

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.

We considered our audit was capable of detecting irregularities due to:

a) the effectiveness of the entity's internal controls;

b) the nature, timing and extent of audit procedures performed; and

c) the absence of contradictory evidence.

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.

Donald Brown FCA (Senior Statutory Auditor)

for and on behalf of Higginson & Co (UK) Ltd

Statutory Auditors

3 Kensworth Gate

200 - 204 High Street South

Dunstable

Bedfordshire

LU6 3HS

2 June 2026

TURNOVER

36,023,302

31,617,738

Cost of sales

30,309,872

24,626,793

GROSS PROFIT

5,713,430

6,990,945

Administrative expenses

4,018,074

3,213,105

OPERATING PROFIT

4

1,695,356

3,777,840

Interest receivable and similar income

68,858

-

1,764,214

3,777,840

Interest payable and similar expenses

5

212,516

152,285

PROFIT BEFORE TAXATION

1,551,698

3,625,555

Tax on profit

6

411,027

1,370,543

PROFIT FOR THE FINANCIAL YEAR

1,140,671

2,255,012

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,140,671

2,255,012

FIXED ASSETS

Tangible assets

7

6,048,917

5,428,441

CURRENT ASSETS

Stocks

8

6,016,793

3,710,487

Debtors

9

3,705,948

2,485,895

Cash at bank and in hand

4,610,991

5,307,071

14,333,732

11,503,453

CREDITORS

Amounts falling due within one year

10

8,390,631

6,126,054

NET CURRENT ASSETS

5,943,101

5,377,399

TOTAL ASSETS LESS CURRENT LIABILITIES

11,992,018

10,805,840

CREDITORS

Amounts falling due after more than one year

11

(2,362,468

)

(2,302,677

)

PROVISIONS FOR LIABILITIES

15

(754,133

)

(768,417

)

NET ASSETS

8,875,417

7,734,746

CAPITAL AND RESERVES

Called up share capital

16

100

100

Retained earnings

17

8,875,317

7,734,646

SHAREHOLDERS' FUNDS

8,875,417

7,734,746

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2026 and were signed on its behalf by:

K Quinn - Director

G Quinn - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 May 2023

100

5,479,634

5,479,734

Changes in equity

Total comprehensive income

-

2,255,012

2,255,012

Balance at 30 April 2024

100

7,734,646

7,734,746

Changes in equity

Total comprehensive income

-

1,140,671

1,140,671

Balance at 30 April 2025

100

8,875,317

8,875,417

Cash flows from operating activities

Cash generated from operations

1

1,201,396

2,854,201

Interest paid

(25,167

)

(4,452

)

Interest element of hire purchase payments paid

(187,349

)

(147,833

)

Net cash from operating activities

988,880

2,701,916

Cash flows from investing activities

Purchase of tangible fixed assets

(12,133

)

(1,698,141

)

Sale of tangible fixed assets

7,141

15,107

Interest received

68,858

-

Net cash from investing activities

63,866

(1,683,034

)

Cash flows from financing activities

Loan repayments in year

(21,006

)

(4,980

)

Hire Purchase Capital repayments in year

(1,801,277

)

9,487

Amount withdrawn by directors

(151,101

)

-

Net cash from financing activities

(1,973,384

)

4,507

(Decrease)/increase in cash and cash equivalents

(920,638

)

1,023,389

Cash and cash equivalents at beginning of year

2

5,166,404

4,143,015

Cash and cash equivalents at end of year

2

4,245,766

5,166,404

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

30.4.25

30.4.24

£

£

Profit before taxation

1,551,698

3,625,555

Depreciation charges

1,456,489

1,336,155

(Profit)/loss on disposal of fixed assets

(3,976

)

17,932

Finance costs

212,516

152,285

Finance income

(68,858

)

-

3,147,869

5,131,927

Increase in stocks

(2,306,306

)

(146,224

)

Increase in trade and other debtors

(1,068,952

)

(1,627,147

)

Increase/(decrease) in trade and other creditors

1,428,785

(504,355

)

Cash generated from operations

1,201,396

2,854,201

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 30 April 2025

30.4.25

1.5.24

£

£

Cash and cash equivalents

4,610,991

5,307,071

Bank overdrafts

(365,225

)

(140,667

)

4,245,766

5,166,404

Year ended 30 April 2024

30.4.24

1.5.23

£

£

Cash and cash equivalents

5,307,071

4,143,015

Bank overdrafts

(140,667

)

-

5,166,404

4,143,015

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

Other

non-cash

At 1.5.24

Cash flow

changes

At 30.4.25

£

£

£

£

Net cash

Cash at bank

and in hand

5,307,071

(696,080

)

4,610,991

Bank overdrafts

(140,667

)

(224,558

)

(365,225

)

5,166,404

(920,638

)

4,245,766

Debt

Finance leases

(3,233,539

)

1,801,277

(2,067,997

)

(3,500,259

)

Debts falling due

after 1 year

(328,517

)

21,006

-

(307,511

)

(3,562,056

)

1,822,283

(2,067,997

)

(3,807,770

)

Total

1,604,348

901,645

(2,067,997

)

437,996

1.	STATUTORY INFORMATION

Quinn Groundworks and Construction Limited 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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption 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 paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c).

Significant judgements and estimates

The preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include the useful economic life of fixed assets and intangibles and the warranty provision.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern in preparing its financial statements.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax together with income where it has obtained a right to consideration in exchange for its performance.

Tangible fixed assets

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

Freehold property

-

Straight line over 25 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value. Cost comprises non-partner professional time costs, excluding any mark-up plus disbursements. Any non-recoverable work in progress is excluded.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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

30.4.25

30.4.24

£

£

Wages and salaries

1,091,439

623,656

Social security costs

154,807

141,601

Other pension costs

12,722

7,787

1,258,968

773,044

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

30.4.25

30.4.24

Directors

2

2

Administrative

9

6

Other staff

11

8

22

16

30.4.25

30.4.24

£

£

Directors' remuneration

129,097

133,213

4.	OPERATING PROFIT

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

30.4.25

30.4.24

£

£

Depreciation - owned assets

1,456,489

1,336,155

(Profit)/loss on disposal of fixed assets

(3,976

)

17,932

Auditors' remuneration

54,000

55,000

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.4.25

30.4.24

£

£

Bank interest

-

4,452

Bank loan interest

25,167

-

Hire purchase

187,349

147,833

212,516

152,285

6.

TAXATION

Analysis of the tax charge

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

30.4.25

30.4.24

£

£

Current tax:

UK corporation tax

425,311

602,126

Deferred tax

(14,284

)

768,417

Tax on profit

411,027

1,370,543