REGISTERED NUMBER: 10355410 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

for

JMAC Industrial and Access Group Ltd

Trading as

Formerly known as JMac Scaffolding Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Balance Sheet

11

Notes to the Financial Statements

12

DIRECTORS:

L A McCarthy

R Payne

J Young

REGISTERED OFFICE:

J Mac House

Portrack Grange Road

STOCKTON ON TEES

TS18 2PH

REGISTERED NUMBER:

10355410 (England and Wales)

SENIOR STATUTORY AUDITOR:

Kevin Shotton BA BFP FCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

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

REVIEW OF BUSINESS

Year end revenue is £17,896,596 from £7,052,652 in the year ended 31 December 2024. Revenue has increased significantly by 153.8%, this was due to growth in major contracts, the restructure of business to include J Mac Contracting and investment in management structure.

J Mac Industrial and Access is an integral part of the J Mac Group and therefore the performance of the group as a whole during 2025 is discussed below;

The group has once again continued to grow organically during the year, with a focus on turning strong sales pipeline in to order book and order book into revenue. The group has continued to develop new customer relationships, in various sectors further diversifying its offering of products and services.

During year ended 31 December 2025, the group invested significantly in assets, people, process, IT systems & software, to enable further future sustainable growth, both organic & acquisitive.

In addition, the group has continued to invest significant resource and time in developing new, market-leading products to support the future growth plans, along with CRM functions and online retail capabilities.

The group has continued to develop its infrastructure increasing the support functions to facilitate its future plans, with the continuation of improvements & resource in the central office functions, human resources team, finance team, transport and logistics team and commercial teams creating a very strong network of supporting functions for the central operations and sales pipeline.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have identified the key risks and uncertainties which are a threat to the business and wherever possible have taken steps to address and mitigate these.

Reduced Talent Labour Risk

The company has identified that the reduced labour market remains a risk to our industry, access to skilled and semi-skilled labour has been prevalent over the last 24 months and we expect the same in 2026. The company has wide ranging recruitment & retention strategies to mitigate and manage current labour force conditions.

Interest Rate Risk

The company manages its debt along with liquidity so as to reduce its exposure to changes in interest rates and the cost of borrowing.

Liquidity Risk

The company manages cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient working capital resources to meet the operating needs of the business.

Credit Risk

All customers who trade on credit terms are subject to credit verification processes and procedures, which are reviewed on an ongoing basis. Trade debtors are also monitored and managed on an ongoing basis to ensure potential bad debts are minimised wherever possible.

Safety Risk

The company has developed a robust Health and Safety team , complimented by compliance , transport and independent inspection teams , the Group Holds prestigious industry accreditations such as NASC , ISO 9001, ISO 14001, ISO45001, FASET, ACHILLES , this list is non exhaustive , and is a staple of our commitment to driving Quality and safety are key and to the core values of the Group , our success in procuring and delivery to tier one scopes of works is testament to our commitment to innovation and Quality of delivery building a brand that is trusted.

KEY PERFORMANCE INDICATORS

The company continues to monitor market activity and key performance indicators such as:

Turnover - 153.8% increase in 2025 compared to 2024

Operating Profit as a percentage of turnover- 11.7% in year ended 31 December 2025

FUTURE DEVELOPMENTS

The company has identified that further investment in our central office infrastructure and people is key to its future success. Talent acquisition, mentoring and training remains a key driver for the organic growth of the company.

In addition, the company will continue to invest in new product and market development, to support its significant growth plans, with a significant number of new products and services being offered to market in 2026.

Acquisitive growth to compliment organic growth is another key driver of the future strategic plans of the group.

ON BEHALF OF THE BOARD:

L A McCarthy - Director

3 June 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of scaffold erection.

DIVIDENDS

Dividends of £30,000 were paid during the year (prior year: nil).

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

L A McCarthy

R Payne

J Young

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, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

L A McCarthy - Director

3 June 2026

Opinion

We have audited the financial statements of JMAC Industrial and Access Group Ltd (the 'company') for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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.

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

- Understanding the key legal and regulatory frameworks that are applicable to the Company. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be: accounting and taxation legislation, health & safety legislation, NASC accreditation along with standard employment and company law.

- Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance

- Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed

- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.

- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants

& Statutory Auditors

140 Coniscliffe Road

Darlington

County Durham

DL3 7RT

3 June 2026

TURNOVER

3

17,896,596

7,052,652

Cost of sales

(12,762,099

)

(4,676,255

)

GROSS PROFIT

5,134,497

2,376,397

Administrative expenses

(3,044,344

)

(1,383,603

)

2,090,153

992,794

Other operating income

9,752

20,330

OPERATING PROFIT

5

2,099,905

1,013,124

Interest payable and similar expenses

6

(218,983

)

(160,178

)

PROFIT BEFORE TAXATION

1,880,922

852,946

Tax on profit

7

(611,864

)

(188,039

)

PROFIT FOR THE FINANCIAL YEAR

1,269,058

664,907

Retained earnings at beginning of year

1,192,997

528,090

Dividends

8

(30,000

)

-

RETAINED EARNINGS AT END OF YEAR

2,432,055

1,192,997

FIXED ASSETS

Tangible assets

9

5,008,363

2,897,124

CURRENT ASSETS

Stocks

10

566,265

103,765

Debtors

11

3,891,959

1,969,179

Cash at bank

959,275

186,544

5,417,499

2,259,488

CREDITORS

Amounts falling due within one year

12

(4,846,484

)

(1,987,694

)

NET CURRENT ASSETS

571,015

271,794

TOTAL ASSETS LESS CURRENT LIABILITIES

5,579,378

3,168,918

CREDITORS

Amounts falling due after more than one year

13

(1,985,081

)

(1,425,543

)

PROVISIONS FOR LIABILITIES

17

(1,162,142

)

(550,278

)

NET ASSETS

2,432,155

1,193,097

CAPITAL AND RESERVES

Called up share capital

18

100

100

Retained earnings

19

2,432,055

1,192,997

SHAREHOLDERS' FUNDS

2,432,155

1,193,097

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2026 and were signed on its behalf by:

L A McCarthy - Director

1.	STATUTORY INFORMATION

JMAC Industrial and Access Group 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

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.

Significant judgements and estimates

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:

Debtors provision - the amounts owed from customers are reviewed by management on a monthly basis to consider if there are any bad or doubtful debts. Provision is then made within the financial statements.

Turnover

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

Turnover represents the value, net of the value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Income recognition

Income is recognised when the conditions contained within a contract for services have been met.

Grants

Revenue based grants are credited to the profit and loss account on receipt.

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

-

2% - 20% on cost, 20% reducing balance

Fixtures and fittings

-

10% on cost

Motor vehicles

-

7-5% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Work in progress

Contract work in progress is valued at costs incurred, net of amounts transferred to cost of sales, less foreseeable losses and payments on account not matched with turnover. Any profit attributable to contract work in progress, calculated in accordance with FRS 102, has been included by way of turnover and cost of sales, with the amount by which turnover is in excess of payments on account included in work in progress.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the 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.

TURNOVER

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

All turnover in the current and prior year was derived from within the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,292,139

2,962,401

Social security costs

339,454

245,231

Other pension costs

45,819

40,496

4,677,412

3,248,128

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

2025

2024

Administrative and operational

82

73

82

73

2025

2024

£

£

Directors' remuneration

265,316

-

All remuneration relates to two directors who each received £132,658 in salaries during the year.

5.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

23,358

38,255

Depreciation - owned assets

245,643

163,377

Depreciation - assets on hire purchase contracts

78,588

57,103

Loss/(profit) on disposal of fixed assets

134,532

(11,824

)

Operating lease payments

55,200

24,000

Auditors remuneration

14,000

10,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

52,495

9,504

Bank loan interest

19,476

5,496

Other interest

-

21,480

Hire purchase

147,012

123,698

218,983

160,178

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Deferred tax:

Deferred tax

632,218

188,039

Overprovision in prior year

(20,354

)

-

Total deferred tax

611,864

188,039

Tax on profit

611,864

188,039

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

1,880,922

852,946

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

470,231

213,237

Effects of:

Expenses not deductible for tax purposes

13,524

1,366

Depreciation in excess of capital allowances

314,515

54,464

Utilisation of tax losses

(55,196

)

(81,028

)

Adjustments to tax charge in respect of previous periods

(20,354

)

-

Group relief

(110,856

)

-

Total tax charge

611,864

188,039

8.

DIVIDENDS

2025

2024

£

£

Ordinary B Shares shares of £1 each

Interim

15,000

-

Ordinary C Shares shares of £1 each

Interim

15,000

-

30,000

-

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

2,803,938

3,305

967,482

48,037

3,822,762

Additions

2,153,088

44,567

336,174

32,765

2,566,594

Disposals

(131,940

)

-

-

-

(131,940

)

At 31 December 2025

4,825,086

47,872

1,303,656

80,802

6,257,416

DEPRECIATION

At 1 January 2025

643,063

1,284

243,574

37,717

925,638

Charge for year

242,930

2,870

72,682

5,749

324,231

Eliminated on disposal

(816

)

-

-

-

(816

)

At 31 December 2025

885,177

4,154

316,256

43,466

1,249,053

NET BOOK VALUE

At 31 December 2025

3,939,909

43,718

987,400

37,336

5,008,363

At 31 December 2024

2,160,875

2,021

723,908

10,320

2,897,124

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2025

754,128

597,015

1,351,143

Additions

689,156

193,184

882,340

At 31 December 2025

1,443,284

790,199

2,233,483

DEPRECIATION

At 1 January 2025

41,674

61,227

102,901

Charge for year

39,126

39,462

78,588

At 31 December 2025

80,800

100,689

181,489

NET BOOK VALUE

At 31 December 2025

1,362,484

689,510

2,051,994

At 31 December 2024

712,454

535,788

1,248,242

10.

STOCKS

2025

2024

£

£

Stocks

289,500

-

Work-in-progress

276,765

103,765

566,265

103,765