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REGISTERED NUMBER: 01169018 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 September 2025

for

Ivor King (Civil Engineering

Contractors) Limited

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Contents of the Financial Statements

for the Year Ended 30 September 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

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 |

Ivor King (Civil Engineering

Contractors) Limited

Company Information

for the Year Ended 30 September 2025

| DIRECTORS: | S M King

| A J King

| I King

| D W Smith

| M Brewer

| T A Goodyear

| REGISTERED OFFICE: | Haunchwood Park Industrial Estate

| Galley Common

| Nuneaton

| CV10 9SP

| REGISTERED NUMBER: | 01169018 (England and Wales)

| AUDITORS: | Gopsall Audit Services Limited

| Chartered Accountants

| Statutory Auditor

| First Floor

| 7 Marina Court

| Maple Drive

| Hinckley

| Leicestershire

| LE10 3BF

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Strategic Report

for the Year Ended 30 September 2025

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

REVIEW OF BUSINESS

The results for the company show a pre-tax profit for the year ended September 2025 of £4.4m, September 2024 as restated £0.98m. For the year ended 30th September 2025 sales of £30.3 million, (2024 as restated £24.5 million)

The company had net assets of £9.08 million at 30th Sept 25, 2024 restated at £8.14 million

Our Key Performance Indicators for the year, and last year, are shown below:

| 2025 |  | 2024as restated |  | Definitions and analysis |

Increase/(Decrease) in sales (%) |  | 23.47 |  | (24.22) |  | Year on year sales movement expressed as a percentage. The company has experienced an increase in sales. |

Net profit margin (%) |  | 14.55 |  | 4.01 |  | Profit on ordinary activities before taxation expressed as a percentage of sales. |

Return on invested capital (%) |  | 48.53 |  | 12.08 |  | Profit on ordinary activities before taxation expressed as a percentage of net assets. |

Liquidity (%) |  | 95.84 |  | 89.50 |  | Current assets as a percentage of current liabilities, |

We aim to present a balanced and realistic view of our performance in the last two financial periods. 2024 was by no means a bad year for the business, but it was greatly surpassed in 2025 for a number of reasons not least because the business had to regroup and reorganise in 2024, post the cancellation of HS2, when the business had geared up to be able to facilitate piling on this job for the duration of the project.

In 2025 the business chose to restructure the machinery and haulage fleet to be able to attack multidisciplinary work across as many sectors as possible. The piling industry as a whole, has been impacted by the Building Safety Act, which has slowed progress on high rise developments. Our business strategy of seeking to ensure penetration in multiple sectors, and having multiple income streams and machinery that can operate in tight and awkward spaces, twinned with the ability to rent our equipment out means that the business is as well placed as possible to capitalise on any opportunities, which it managed to achieve and in doing so outperformed the previous financial period.

The various world conflicts have served to create a certain level of volatility in raw material markets, throughout the duration of these two years, which have impacted the prices of our products and services.

The Directors are very satisfied with the performance during the financial year.

PRINCIPAL RISKS AND UNCERTAINTIES

At this time these would consist of the various global conflicts especially the middle east and whether they would affect commodity prices in the short or longer term, and the consequential price inflation. The Reeves budget promised constancy to allow growth but Trump tariffs in 2025 have created ripple effects in commodity markets, which does show how externalities can impact business operations quickly and with no foresight. The main items affected would be perceived to be fuel and steel. A further risk is weather conditions such as hard frosts or flooding meaning business income streams are affected.

The business must ensure it protects itself against inflationary pressure by purchasing material sensibly and in the right quantities, and making sure its contracts are robust and mitigate the risk of price escalation of its costs. Energy price escalation is an issue and the business has invested in the latest Solar Panel technology to mitigate this. Efforts have also been made to invest in the most efficient vehicles including multiple EV's and hybrid vehicles, with the purchases of these accelerating in 2025. All recent purchases of equipment are more fuel efficient than the outgoing models, and this can only help to push the companies' green credentials.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Strategic Report

for the Year Ended 30 September 2025

DEVELOPMENT AND PERFORMANCE

Safety is at the forefront of everything we do, and we have recently maintained the RoSPA gold award in recognition of our performance for the last two years running.

New technologies invariably allow us to work more efficiently and in a more carbon friendly way. We recognise the need for continual investment in order to remain at the forefront of our field. We have invested in trucks and rigs with the latest diesel engines, into solar technology to save energy costs and the business seeks to capitalise on new, improved technology at every opportunity across the business.

ON BEHALF OF THE BOARD:

S M King - Director

4 June 2026

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Report of the Directors

for the Year Ended 30 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of civil engineering.

DIVIDENDS

The total distribution of dividends for the year ended 30 September 2025 will be £ 2,366,500 .

RESEARCH AND DEVELOPMENT

The company continues to invest in research and development to ensure that its products and services remain at the cutting edge of the industry.

DIRECTORS

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

S M King

A J King

I King

D W Smith

M Brewer

Other changes in directors holding office are as follows:

T A Goodyear - appointed 1 March 2025

DIRECTORS’ INDEMNITIES

As permitted by the Companies Act 2006, the Company has indemnified the directors in respect of proceedings brought by third parties and qualifying third party indemnity insurance was in place throughout the year and up to the date of approval of the financial statements.

DISCLOSURE IN THE STRATEGIC REPORT

The company has taken advantage of provisions which allow items marked for disclosure in the directors' report to be set out in the strategic report in accordance with s.414C(11) CA 2006.

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.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Report of the Directors

for the Year Ended 30 September 2025

AUDITORS

The auditors, Gopsall Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S M King - Director

4 June 2026

Report of the Independent Auditors to the Members of

Ivor King (Civil Engineering

Contractors) Limited

Opinion

We have audited the financial statements of Ivor King (Civil Engineering Contractors) Limited (the 'company') for the year ended 30 September 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 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 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.

Report of the Independent Auditors to the Members of

Ivor King (Civil Engineering

Contractors) Limited

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 four, 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.

Report of the Independent Auditors to the Members of

Ivor King (Civil Engineering

Contractors) Limited

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:

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:

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

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the property and rental sector;

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

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

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

- performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 4 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;

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

- reviewing correspondence with HMRC, relevant regulators such as the Health and Safety Executive, and the company's legal advisors.

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 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.

Report of the Independent Auditors to the Members of

Ivor King (Civil Engineering

Contractors) Limited

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.

Peter White (Senior Statutory Auditor)

for and on behalf of Gopsall Audit Services Limited

Chartered Accountants

Statutory Auditor

First Floor

7 Marina Court

Maple Drive

Hinckley

Leicestershire

LE10 3BF

4 June 2026

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Statement of Comprehensive Income

for the Year Ended 30 September 2025

| 30.9.25 |  | 30.9.24

| as restated |

| Notes | £ | £ |

TURNOVER | 5 | 30,301,330 |  | 24,541,153 |  |

Cost of sales | 19,544,375 |  | 17,296,097 |  |

GROSS PROFIT | 10,756,955 |  | 7,245,056 |  |

Administrative expenses | 6,176,209 |  | 5,803,781 |  |

4,580,746 |  | 1,441,275 |  |

Other operating income | 241,616 |  | 43,350 |  |

OPERATING PROFIT | 7 | 4,822,362 |  | 1,484,625 |  |

Impairment of debtor balance with connected party | 8 | - |  | 31,436 |  |

4,822,362 |  | 1,453,189 |  |

Interest receivable and similar income | 1,929 |  | - |  |

4,824,291 |  | 1,453,189 |  |

Interest payable and similar expenses | 9 | 417,099 |  | 469,390 |  |

PROFIT BEFORE TAXATION | 4,407,192 |  | 983,799 |  |

Tax on profit | 10 | 1,155,909 |  | 254,288 |  |

PROFIT FOR THE FINANCIAL YEAR | 3,251,283 |  | 729,511 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 3,251,283 |  |

Prior year adjustment | (26,196 | ) |

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT | 703,315 |  |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Balance Sheet

30 September 2025

| 30.9.25 | 30.9.24 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 13 | 17,701,806 |  | 16,711,330 |  |

CURRENT ASSETS

Stocks | 14 | 1,540,298 |  | 2,094,868 |  |

Debtors | 15 | 6,893,147 |  | 6,513,496 |  |

Cash at bank and in hand | 1,527,987 |  | 14,746 |  |

9,961,432 |  | 8,623,110 |  |

CREDITORS

Amounts falling due within one year | 16 | 10,393,755 |  | 9,634,348 |  |

NET CURRENT LIABILITIES | (432,323 | ) | (1,011,238 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 17,269,483 |  | 15,700,092 |  |

CREDITORS

Amounts falling due after more than one year | 17 | (4,880,825 | ) | (5,252,126 | ) |

PROVISIONS FOR LIABILITIES | 21 | (3,360,131 | ) | (2,304,222 | ) |

NET ASSETS | 9,028,527 |  | 8,143,744 |  |

CAPITAL AND RESERVES

Called up share capital | 22 | 2,000 |  | 2,000 |  |

Retained earnings | 9,026,527 |  | 8,141,744 |  |

SHAREHOLDERS' FUNDS | 9,028,527 |  | 8,143,744 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2026 and were signed on its behalf by:

S M King - Director

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Statement of Changes in Equity

for the Year Ended 30 September 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 October 2023 | 2,000 |  | 8,107,929 |  | 8,109,929 |  |

Prior year adjustment | - |  | (26,196 | ) | (26,196 | ) |

As restated | 2,000 |  | 8,081,733 |  | 8,083,733 |  |

Changes in equity

Dividends | - |  | (669,500 | ) | (669,500 | ) |

Total comprehensive income | - |  | 729,511 |  | 729,511 |  |

Balance at 30 September 2024 | 2,000 |  | 8,141,744 |  | 8,143,744 |  |

Changes in equity

Dividends | - |  | (2,366,500 | ) | (2,366,500 | ) |

Total comprehensive income | - |  | 3,251,283 |  | 3,251,283 |  |

Balance at 30 September 2025 | 2,000 |  | 9,026,527 |  | 9,028,527 |  |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Cash Flow Statement

for the Year Ended 30 September 2025

| 30.9.25 |  | 30.9.24

| as restated |

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 6,208,315 |  | 3,582,190 |  |

Interest paid | (57,406 | ) | (119,302 | ) |

Interest element of hire purchase payments paid | (359,693 | ) | (350,088 | ) |

Net cash from operating activities | 5,791,216 |  | 3,112,800 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (678,379 | ) | (380,627 | ) |

Sale of tangible fixed assets | 581,551 |  | 530,791 |  |

Interest received | 1,929 |  | - |  |

Net cash from investing activities | (94,899 | ) | 150,164 |  |

Cash flows from financing activities

Loans in year | 1,824,893 |  | 31,448 |  |

Capital repayments in year | (2,471,810 | ) | (2,444,971 | ) |

Amount withdrawn by directors | (19,743 | ) | 19,743 |  |

Equity dividends paid | (2,366,500 | ) | (669,500 | ) |

Net cash from financing activities | (3,033,160 | ) | (3,063,280 | ) |

Increase in cash and cash equivalents | 2,663,157 |  | 199,684 |  |

Cash and cash equivalents at beginning of year | 2 | (1,135,170 | ) | (1,334,854 | ) |

Cash and cash equivalents at end of year | 2 | 1,527,987 |  | (1,135,170 | ) |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Cash Flow Statement

for the Year Ended 30 September 2025

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

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Profit before taxation | 4,407,192 |  | 983,799 |  |

| Depreciation charges | 1,555,400 |  | 1,389,725 |  |

| Profit on disposal of fixed assets | (42,485 | ) | (81,169 | ) |

| Movement in other provisions | (100,000 | ) | 100,000 |  |

| Finance costs | 417,099 |  | 469,390 |  |

| Finance income | (1,929 | ) | - |  |

6,235,277 |  | 2,861,745 |  |

| Decrease in stocks | 554,570 |  | 98,369 |  |

| (Increase)/decrease in trade and other debtors | (205,461 | ) | 1,304,671 |  |

| Decrease in trade and other creditors | (376,071 | ) | (682,595 | ) |

| Cash generated from operations | 6,208,315 |  | 3,582,190 |  |

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 September 2025

| 30.9.25 |  | 1.10.24

£ | £ |

| Cash and cash equivalents | 1,527,987 |  | 14,746 |  |

| Bank overdrafts | - |  | (1,149,916 | ) |

1,527,987 |  | (1,135,170 | ) |

| Year ended 30 September 2024

| 30.9.24 |  | 1.10.23

| as restated |

£ | £ |

| Cash and cash equivalents | 14,746 |  | 4,436 |  |

| Bank overdrafts | (1,149,916 | ) | (1,339,290 | ) |

(1,135,170 | ) | (1,334,854 | ) |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Cash Flow Statement

for the Year Ended 30 September 2025

3. | ANALYSIS OF CHANGES IN NET DEBT

| Other |

| non-cash |

| At 1.10.24 | Cash flow | changes | At 30.9.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 14,746 |  | 1,513,241 |  | 1,527,987 |  |

| Bank overdrafts | (1,149,916 | ) | 1,149,916 |  | - |  |

(1,135,170 | ) | 2,663,157 |  | 1,527,987 |  |

| Debt

| Finance leases | (7,478,590 | ) | 2,471,810 |  | (2,406,562 | ) | (7,413,342 | ) |

(7,478,590 | ) | 2,471,810 |  | (2,406,562 | ) | (7,413,342 | ) |

| Total | (8,613,760 | ) | 5,134,967 |  | (2,406,562 | ) | (5,885,355 | ) |

4. | OTHER NOTES

| Please note that Finance leases disclosed within the analysis of changes in net debt note are referred to in the Notes to the financial statements as Hire purchase contracts.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements

for the Year Ended 30 September 2025

1. | STATUTORY INFORMATION

| Ivor King (Civil Engineering Contractors) 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Summary of significant accounting policies

| The principal accounting policies applied in the preparation of these financial statements are set out below. These polices have been consistently applied to all the years presented, unless otherwise stated.

| Basis of preparing the financial statements

| These financial statements are prepared on a going concern basis, under the historical cost convention.

| The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the notes to the accounts.

| Going Concern

| The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.The directors have concluded that there are no material uncertainties about the company's ability to continue as a going concern and they are satisfied that the company has adequate resources to continue to meet its liabilities as they fall due and, therefore, that it remains appropriate to continue to adopt going concern basis of accounting in the preparation of the financial statements.

| Financial Reporting Standard 102 - reduced disclosure exemptions

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

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirement of paragraph 33.7.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

3. | ACCOUNTING POLICIES - continued

| Revenue recognition

| Revenue from construction contracts

| Revenue from long term contracts is measured at fair value of the right to consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

| The stage of completion of contracts is calculated as the revenue certified to date and adjustments for work completed not yet certified.

| The company recognises such revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of the revenue can be measured reliably and (d) it is probable that future economic benefits will flow to the entity. Provisions are made for foreseeable losses (as described in the accounting policy for long term contracts).

| Hire of plant and machinery

| Revenue from hire of plant and machinery is recognised at fair value of the right to consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes spread evenly over the period of hire.

| Hire of steel

| Revenue from the hire of steel is measured at the fair value of right to the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes spread evenly over the period of hire.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery | - | 20% on reducing balance and 10% straight line less residual value

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance and 10% straight line less residual value

| Depreciation of assets commences once the assets are fit for purpose.

| Assets held under finance leases are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the company will obtain ownership, in which case the depreciation period is the useful life.

| The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

| Stocks

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

| At the end of each reporting period, stock is reviewed and assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment is recognised immediately in the statement of comprehensive income.

| Stock valuation includes stock which has been sold but is subject to an agreement for the company to repurchase it, with an equivalent liability recognised in accrued expenses.

| Costs includes all direct expenditure and an appropriate proportion of fixed and variable costs.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the financial instrument.

| Cash and cash equivalents

| These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of

| three months or less.

| Debtors

| Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

| Trade creditors

| Trade creditors are not interest bearing and are stated at their nominal value.

| 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.

| Taxation in relation to Research & Development tax relief is only recognised when the benefit has been received from or the claim agreed by HMRC.

| 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

3. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| At inception the company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.

| i. Finance leased assets

| Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

| Finance leases are capitalised at commencement of the lease as assets at fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined the company's incremental borrowing rate is used. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.

| Assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the company will obtain ownership, in which case the depreciation period is the useful life. Assets are assessed for impairment at each reporting date.

| The capital element of lease obligation is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of capital repayments outstanding.

| ii. Operating leased assets

| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account 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.

| The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.

| Defined contribution pension plans

| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

| Holiday pay accrual

| A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

| Long term contracts

| The stage of completion of contracts is calculated as the revenue certified to date and adjustments for work completed not yet certified. Long term contract work in progress is stated at net cost, less foreseeable losses and payments on account. Operating profit includes the results attributable to contracts completed and long term contracts in progress where a profitable outcome can be prudently foreseen, after deducting amounts recognised in previous years and after making provision for foreseeable losses.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

3. | ACCOUNTING POLICIES - continued

| Provisions

| Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable, and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, considering the related risks and uncertainties, and the related increases are generally charged as an expense to profit or loss.

| Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.

4. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Key accounting estimates and assumptions

| The company makes estimates and assumptions concerning the future. The resulting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

| Useful economic lives and residual values of tangible fixed assets

| The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimates useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The net carrying value of tangible fixed assets is disclosed in note 13 to the financial statements.

| Stock

| Stock is stated at the lower of net realisable value and cost. Net realisable value is based on estimated selling price in the ordinary course of business, less any further costs expected to be incurred to completion and disposal. The net carrying value of stocks is disclosed in note 14 to the financial statements. Net realisable value is valued by the company based on the average purchase price of steel and average scrap steel price during the year and is calculated based on an estimate of the ageing of stock which is applied on a consistent basis with prior years.

| Long term contracts and impairment of debtors

| Long term contracts in progress are sensitive to the completion of the contract and economic factors. The company is prudent in recognising revenue on long term contracts and making provision for foreseeable losses when the contract can be reliably estimated. The company makes an estimate of the recoverable value of trade debtors and accrued income. When assessing impairment of trade debtors and accrued income, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. The carrying amount of trade debtors and accrued income, net of any associated impairment provisions is disclosed in note 15 to the financial statements. The carrying value of accrued income being £3,068,752 (2024: £3,350,120) and is presented within Prepayments and accrued income.

| Impairment of a connected party debtor has been assessed by the directors via a review of the net asset position of the connected party. The impairment of £nil (2024: £31,436), is reflective of the net liabilities of the connected party which has determined the debtor as being partially non-recoverable and is reflected within Other Debtors in note 15. The impairment is shown as an exceptional item in note 8.

| Deferred tax provision

| Deferred tax rates are estimated from the current and expected future rates of tax. Given that the tax assets and liabilities on timing differences may only be realised many years into the future, there is inherent uncertainty as to the actual rates that these will be subject to. The net carrying amount of the provision is disclosed in note 21 to the financial statements.

| Connected company debtor

| The debtor balance owed by a company under common control is considered by the directors not to be recoverable in full and has therefore been fully impaired at 30 September 2024. The net carrying value of this debtor balance is £Nil (2024: £Nil) and is presented within Other Debtors on note 15. The impairment of the debtor is assessed inline with the policy for impairment.The impairment is shown as an exceptional item in note 8.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

5. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Rendering of services | 28,272,752 |  | 22,068,798 |  |

| Hire of goods and equipment | 2,028,578 |  | 2,472,355 |  |

30,301,330 |  | 24,541,153 |  |

6. | EMPLOYEES AND DIRECTORS

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Wages and salaries | 5,877,962 |  | 5,564,955 |  |

| Social security costs | 762,856 |  | 647,394 |  |

| Other pension costs | 114,363 |  | 115,264 |  |

6,755,181 |  | 6,327,613 |  |

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

| 30.9.25 |  | 30.9.24

| as restated |

| Directors | 5 |  | 4 |  |

| Administration | 36 |  | 41 |  |

| Direct | 64 |  | 62 |  |

105 |  | 107 |  |

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Directors' remuneration | 386,586 |  | 304,950 |  |

| Directors' pension contributions to money purchase schemes | 3,158 |  | 2,332 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 4 |  | 3 |  |

| Information regarding the highest paid director is as follows:

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Emoluments etc | 131,373 |  | 128,878 |  |

| Pension contributions to money purchase schemes | 1,321 |  | 1,321 |  |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

7. | OPERATING PROFIT

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

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Hire of plant and machinery | 1,367,159 |  | 1,248,894 |  |

| Depreciation - owned assets | 611,995 |  | 648,326 |  |

| Depreciation - assets on hire purchase contracts | 943,404 |  | 741,400 |  |

| Profit on disposal of fixed assets | (42,485 | ) | (81,169 | ) |

| Auditors' remuneration | 103,763 |  | 102,691 |  |

8. | EXCEPTIONAL ITEMS

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Impairment of debtor balance with connected party | - |  | (31,436 | ) |

| The exceptional items relates to the impairment of the Other Debtors balance with a connected party. The connected party has been supported by the company over a period of time, however the directors have determined the debtor is no longer fully recoverable based on the net liabilities of the connected party and its current trading position.

9. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Bank interest | 57,406 |  | 119,302 |  |

| Hire purchase | 359,693 |  | 350,088 |  |

417,099 |  | 469,390 |  |

10. | TAXATION

| Analysis of the tax charge

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

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Deferred tax | 1,155,909 |  | 254,288 |  |

| Tax on profit | 1,155,909 |  | 254,288 |  |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

10. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Profit before tax | 4,407,192 |  | 983,799 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 1,101,798 |  | 245,950 |  |

| Effects of:

| Expenses not deductible for tax purposes | 6,023 |  | 3,388 |  |

| Income not taxable for tax purposes | (4,649 | ) | (258 | ) |

| Capital allowances in excess of depreciation | (226 | ) | (8,272 | ) |

| Group relief | 52,963 |  | 13,480 |  |

| Total tax charge | 1,155,909 |  | 254,288 |  |

11. | DIVIDENDS

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Interim | 2,366,500 |  | 669,500 |  |

12. | PRIOR YEAR ADJUSTMENT

| 30 September 2024

| As a result of a prior year adjustment to correct the presentation of cost of sales and overhead costs as at 30 September 2024:

| Cost of sales have reduced by £40,557 and administrative expenses have increased by £40,557, therefore Gross profit has increased by £40,557. There has been no impact of reserves. Direct average employee numbers have reduced by 29 and indirect average employee numbers have increased by 29.

| 30 September 2023

| In the 30 September 2023 year end accounts, a prior year adjustment was made to correct fixed asset disposal. As a result of the adjustment, retained earnings and Tangible fixed assets as at 1 October 2022 reduced by £26,196. The effect is included in the total comprehensive income in the Statement of Changes in Equity in the year ended 30 September 2023.

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

13. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |

| machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 October 2024 | 25,155,967 |  | 365,702 |  | 2,551,908 |  | 28,073,577 |  |

| Additions | 2,274,042 |  | 118,762 |  | 692,137 |  | 3,084,941 |  |

| Disposals | (899,032 | ) | (81,939 | ) | (843,574 | ) | (1,824,545 | ) |

| At 30 September 2025 | 26,530,977 |  | 402,525 |  | 2,400,471 |  | 29,333,973 |  |

| DEPRECIATION

| At 1 October 2024 | 10,322,012 |  | 188,826 |  | 851,409 |  | 11,362,247 |  |

| Charge for year | 1,215,071 |  | 12,093 |  | 328,235 |  | 1,555,399 |  |

| Eliminated on disposal | (868,198 | ) | (72,700 | ) | (344,581 | ) | (1,285,479 | ) |

| At 30 September 2025 | 10,668,885 |  | 128,219 |  | 835,063 |  | 11,632,167 |  |

| NET BOOK VALUE

| At 30 September 2025 | 15,862,092 |  | 274,306 |  | 1,565,408 |  | 17,701,806 |  |

| At 30 September 2024 | 14,833,955 |  | 176,876 |  | 1,700,499 |  | 16,711,330 |  |

| The net book value of tangible fixed assets includes £11,741,934 (2024: £10,214,609) in respect of assets held under hire purchase contracts.

14. | STOCKS

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Stocks | 1,540,298 |  | 2,094,868 |  |

| The carrying amount of Stock by classification is:

|  | 2025 |  | 2024 |  |

| Steel piles and other steel |  | 1,381,398 |  | 1,700,833 |  |

| Piles subject to repurchase agreement |  | 158,900 |  | 967,281 |  |

15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Trade debtors | 450,894 |  | 674,785 |  |

| Amounts owed by group undertakings | 1,926,527 |  | 1,752,337 |  |

| Other debtors | 584,397 |  | 73,336 |  |

| VAT | 387,578 |  | 481,759 |  |

| Prepayments and accrued income | 3,543,751 |  | 3,531,279 |  |

6,893,147 |  | 6,513,496 |  |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Bank loans and overdrafts (see note 18) | - |  | 1,149,916 |  |

| Hire purchase contracts (see note 19) | 2,532,517 |  | 2,226,464 |  |

| Trade creditors | 2,117,372 |  | 3,232,711 |  |

| Amounts owed to group undertakings | 3,671,676 |  | 1,672,592 |  |

| Social security and other taxes | 219,099 |  | 222,513 |  |

| Other creditors | 1,077,867 |  | 257,305 |  |

| Directors' current accounts | - |  | 19,743 |  |

| Accrued expenses | 775,224 |  | 853,104 |  |

10,393,755 |  | 9,634,348 |  |

17. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Hire purchase contracts (see note 19) | 4,880,825 |  | 5,252,126 |  |

18. | LOANS

| An analysis of the maturity of loans is given below:

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | - |  | 1,149,916 |  |

19. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 30.9.25 |  | 30.9.24 |

| as restated |

£ | £ |

| Net obligations repayable:

| Within one year | 2,532,517 |  | 2,226,464 |  |

| Between one and five years | 4,880,825 |  | 5,252,126 |  |

7,413,342 |  | 7,478,590 |  |

| Non-cancellable |

| operating leases |

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Within one year | 374,710 |  | 281,001 |  |

| Between one and five years | 1,198,000 |  | 1,104,000 |  |

| In more than five years | 23,000 |  | 296,416 |  |

1,595,710 |  | 1,681,417 |  |

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

19. | LEASING AGREEMENTS - continued

| Operating lease payments recognised as an expense during the year ended 30 September 2025 were £479,525 (2024: £385,525).

20. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Bank overdraft | - |  | 1,149,916 |  |

| Hire purchase contracts | 7,413,342 |  | 7,478,590 |  |

7,413,342 |  | 8,628,506 |  |

| Hire purchase loans are secured against the asset.

| The company has entered into a cross guarantee in respect of other group companies.

21. | PROVISIONS FOR LIABILITIES

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 4,145,067 |  | 3,763,404 |  |

| Tax losses carried forward | (784,936 | ) | (1,559,182 | ) |

| Other provisions | - |  | 100,000 |  |

3,360,131 |  | 2,304,222 |  |

| Deferred |  | Other |

| tax |  | provisions |

£ | £ |

| Balance at 1 October 2024 | 2,204,222 |  | 100,000 |  |

| Provided during year | 1,155,909 |  | (100,000 | ) |

| Balance at 30 September 2025 | 3,360,131 |  | - |  |

| The tax rates applied in calculating the deferred tax provision are:

| Capital allowances in excess of depreciation 25% (2024: 25%).

| Unused tax losses carried forward 25% (2024: 25%).

22. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.9.25 |  | 30.9.24

| value: |  | as restated |

£ | £ |

| 2,000 | Ordinary | £1 | 2,000 |  | 2,000 |  |

23. | PENSION COMMITMENTS

| Liabilities relating to pension commitments are included in other creditors and total £22,537 (2024 - £30,098) at the balance sheet date. The profit and loss expense for pensions relating to defined contribution plans is £114,363 (2024 - £115,264).

Ivor King (Civil Engineering

Contractors) Limited (Registered number: 01169018)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

24. | ULTIMATE PARENT COMPANY

| Ivor King Holdings Limited, registered in England and Wales, is the immediate and ultimate parent company.

| The smallest and largest group to consolidate these financial statements is Ivor King Holdings Limited. Copies of Ivor King Holdings Limited consolidated financial statements can be obtained from its registered office (Haunchwood Industrial Estate, Galley Common, Nuneaton, Warwickshire, CV10 9SP).

25. | CAPITAL COMMITMENTS

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Contracted but not provided for in the

| financial statements | 321,120 |  | 230,110 |  |

| The capital commitments relate to the acquisition of tangible fixed assets.

26. | RELATED PARTY DISCLOSURES

| Entities over which the entity has control, joint control or significant influence

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Transfers | 916 |  | - |  |

| Impairment of other debtor | - |  | 31,436 |  |

| Amount due from related party | - |  | 916 |  |

| Other related parties

| 30.9.25 |  | 30.9.24

| as restated |

£ | £ |

| Sales to related parties | 433,043 |  | 18,567 |  |

| Purchases from other relates parties | 106,000 |  | 10,350 |  |

| Salaries to related party (non-directors) | 93,450 |  | 136,243 |  |

| Amount due from related parties | 498,397 |  | 4,845 |  |

27. | ULTIMATE CONTROLLING PARTY

| Ivor King Holdings Limited owns 100% of the issued share capital in Ivor King (Civil Engineering Contractors) Limited. Ivor King Holdings Limited is under the control of Mr I H King.

28. | GOVERNMENT GRANTS

| Government grants are recognised as income in Other operating income of £46,616 (2024: £43,350) and relate to green business programme and various training schemes.