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Registered Number:
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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COMPANY INFORMATION
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CONTENTS
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STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The Directors present their Annual Strategic Report and Financial Statements for the year ending 31 October 2025.
In 2025 saw the business undergo a year of improved performance compared to the previous year. Whilst turnover reduced, down from £26.011m in 2024 to £21.394m in 2025, the business managed to set a marked increase in both gross and net profits compared to preceding years. This improvement is as a direct result of the investment and improvements made by the Directors during the year ending 2024. The investment in staff and procedures delivered the required improvement in the delivery process, resulting in an overall more successful year.
The Directors utilised the improvements in profitability to continue the planned investment in staff, securing additional personnel resource in both the Commercial and Site Management teams. Furthermore, it was possible to bolster our aftercare processes via the appointment of a dedicated Customer Care Manager. It is anticipated this appointment will deliver significant benefits moving forward to both our clients and the business alike. Throughout 2025 the business delivered 19nr individual and separate core projects. TJ Evers was consistent in maintaining work in the traditional strong hold sectors of Education and Commercial, with around 50% of business activity being achieved in these markets, which is a slight drop in terms of volume compared to 2024. This is due to the Directors continued efforts to expand into other sectors of the UK construction market. This year, public buildings accounted for 20% of workload, this being a significant increase on previous years. Coupled with this, TJ Evers made extensive inroads into the Care Home sector, which is a sector that the business intends to gain further exposure to during the coming year. It is, however, still the Directors strategy that Education and Commercial projects continue to dominate the core business sectors for years to come. TJ Evers solid track record in these markets continued to provide a wealth of opportunity during 2025, with around 25% of the Education pipeline being either negotiated work with repeat clients or as a result of the DfE RAAC rebuilding works programme, where previous experience was seen as the determining factor in securing this work. Whilst the present Government has much publicised the ambition to build significant numbers of new homes, this is yet to come to fruition. However, when pipeline begins to match ambition, TJ Evers will be well placed to capitalise on the housebuilding market, due to strong presence on a number of Frameworks and DPS’s that will be utilised by Housing Associations to deliver these much needed affordable new homes. Gross profit was significantly up on the same period in the previous year (9.50% in 2024 to 13.85% in 2025), in no small part, as a consequence of investment and careful selection of projects to bid for, and undertake. The business capitalised on repeat and negotiated work, which delivered the desired effect in terms of profit. Profit before tax similarly saw a marked improvement, up from 1.39% in 2024 to 1.91% in 2025. This has enabled the Directors to further underpin the balance sheet of the business, providing an even surer footing to deliver planned expansion in the coming years. Looking ahead, it is anticipated 2026 has the opportunity of being a year where the Directors will manage to reignite the growth and expansion plans of the business. Significant resource invested during 2025 in Business Development and the Pre Construction team is expected to show returns in terms of increased tender opportunities and an increased order book. Gains in the Social Housing and Care Home sectors are expected to bolster growth and turnover in 2026. This, together with the ever present opportunity of negotiating projects and securing work with repeat clients is seen as a significant strength of the business. Once again, the business has been successful in ensuring staff retention remained high during the period. This being one of many reasons clients continue to offer repeat commissions for new projects. A long serving, highly skilled workforce provides stability and also offers the ability to continue to push into new sectors within the UK construction industry.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
2025 saw a tailing off of growth previously experienced in the PV division of the business, with PV sales amounting to less than 3% of turnover, despite significant investment and successes made during 2024 - securing positions on frameworks such as Crown Commercial Services and others. 2026 may see the business actively retreat from this sector to allow senior leadership to concentrate on the core activities of Education, Commercial and Public building works.
Customer credit risk. TJ Evers core sector of public works minimises the risk in terms of credit worthiness.
Availability of materials. TJ Evers utilises its position in the Trevester Group of Companies to mitigate against material availability risk. Tiptree Building Supplies continue to supply materials at commercially viable rates. Economic stability and confidence. Government policy and direction along with political stability, are significant factors that dictate both stability and confidence in the markets. Further afield, international tariffs are always a risk, as, they may impact on availability or price of commodities used in the construction industry. However, it is widely considered within TJ Evers, that this is small in risk profile at the present time. Whilst TJ Evers is unable to dictate or influence domestic Government or international policy, we will continue to see challenges through via meticulous planning of our workflow and resource scheduling. These being tried and tested methods of protecting the business from political and worldwide uncertainties and events. Operating costs continue to be a risk. It is anticipated 2026 will see further operational cost increases in business rates, insurances and other such cost heads. Our Finance Director ensures any such cost increases are known and identified well in advance of them being incurred, ensuring the ability to reflect increases during tendering. Overhead costs continue to be closely monitored by the Financial Director and kept in line with the budgets set by the Board of Directors at the beginning of the new financial year. Financial risks are monitored each month via accurately detailed monthly management accounts that are produced by the Finance Team and forensically investigated by the Financial Director. Cashflow forecasts are prepared on a bi-monthly basis by the Financial Director. Investment made in previous years, in new Construction Programming software continues to provide increased accuracy of cashflow forecasting, giving the crucial early insight into the financial performance of the business.
The Board are pleased to be able to report an increase of 7.54% in the value of the business, with the Balance Sheet increasing from £4.02m to £4.323m in the reporting period.
As a direct result of meticulous financial planning, T J Evers cash position increased by 9.48% compared to the preceding year. This demonstrates the businesses ability to manage its cash effectively. It is envisaged strict financial controls will be necessary during the early stages of 2026 to ensure the businesses cash position isn’t too adversely affected as existing projects come to an end and new ones take time to start.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The Company's principal financial instruments comprise trade debtors and trade creditors arising directly from operations. The Company does not enter into derivative transactions. The Company's approach to managing the principal risks and uncertainties is shown below.
Price risk: Any fluctuations in the cost of supply are closely monitored by the Company with actions taken (where deemed appropriate) to protect the Company’s gross margin. Credit Risk The Company has minimal exposure to credit risk due to the nature of the trading activities. For customers who wish to trade on credit terms, they are subject to credit verification procedures. All credit levels and amounts outstanding are reviewed regularly. The Company has not suffered from significant bad debts and maintains a healthy debtor ageing profile for the sector in which it operates. Any new customers are subjected to credit reference checks and the Company has an active credit control function. Liquidity and cash flow risk: The Company manages its cash requirements in order to ensure sufficient liquid resources are maintained to meet the operating needs of the business.
This report was approved by the Board on 22 May 2026 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The Directors present their report and the financial statements for the year ended 31 October 2025.
The Directors who served during the year were:
The profit for the year, after taxation, amounted to £302,765 (2024 - £268,991). Dividends paid in the year amount to £nil (2024: £673,022).
The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
Looking ahead, it is anticipated 2026 has the opportunity of being a year where the Directors will manage to reignite the growth and expansion plans of the business. Significant resource invested during 2025 in Business Development and the Pre Construction team is expected to show returns in terms of increased tender opportunities and an increased order book. Gains in the Social Housing and Care Home sectors are expected to bolster growth and turnover in 2026. This, together with the ever present opportunity of negotiating projects and securing work with repeat clients is seen as a significant strength of the business.
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T.J.EVERS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
Information regarding the performance of the company and principal risks and uncertainties can be found in the Strategic Report.
There have been no significant events affecting the Company since the year end.
The auditor, Sumer Auditco Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the Board on 22 May 2026 and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.J.EVERS LIMITED
We have audited the financial statements of T.J.Evers Limited (the 'Company') for the year ended 31 October 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows, and the related notes, 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).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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.
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T.J.EVERS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.J.EVERS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor’s Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Directors' Report.
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T.J.EVERS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.J.EVERS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors (as required by auditing standards), inspection of the Company’s regulatory and legal correspondence and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, building regulations, human rights and employment law, environmental regulations and GDPR. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the Company complies with such regulations; enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of any relevant legal documentation, review of Board minutes, testing the appropriateness of journal entries and the performance of analytical review to identify any unexpected movements in account balances which may be indicative of fraud. There are inherent limitations in the audit procedures described above and 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. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
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 Auditor's Report.
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T.J.EVERS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.J.EVERS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Fitzroy House
Crown Street
IP1 3LG
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STATEMENT OF COMPREHENSIVE INCOME (INCLUDING THE PROFIT AND LOSS ACCOUNT)
FOR THE YEAR ENDED 31 OCTOBER 2025
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BALANCE SHEET
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 22 May 2026.
The notes on pages 15 to 29 form part of these financial statements.
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