REGISTERED NUMBER: 07337474 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2025 TO 30 SEPTEMBER 2025

FOR

PGL BRICKWORK + SCAFFOLDING CONTRACTORS

LTD

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

Notes to the Financial Statements

13

DIRECTORS:

P Rickson

L Rickson

G Rickson

REGISTERED OFFICE:

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

07337474 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

Statutory Auditor

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

The directors present their strategic report for the period 1 January 2025 to 30 September 2025.

The directors present their strategic report and the financial statements for the 9 month period to 30 September 2025.

REVIEW OF BUSINESS

In the 9 month period ended 30 September 2025, pro rata sales increased by approximately 10%, the prior year results reflect a full twelve months of trade. Whist the beginning of the current year has been adversely affected by the poor weather conditions, the second and third quarters are expected to show a marked improvement over 2025. The government have reiterated their aim of increasing house building which should also help future results.

The company made a profit after tax of £226,920 (2024 - £182,155). The company balance sheet remains strong with £2,975,860 of net assets which includes £1,006,982 from cash at bank. The directors are satisfied with the results.

The revenue target for this financial year was maintained with the annual output in Construction in the UK seeing an increase in 2025 compared with 2024. The construction output for the UK is forecasted to rise in 2026 with the Company's 2026 pipeline strong.

Supply of appropriately skilled labour continues to be an issue despite the business not being directly impacted by Brexit. However, the supply in the market overall has inevitably been reduced, alongside the increase in the number of businesses hiring for high paid, short term contracts in the region, making the labour market more competitive.

PRINCIPAL RISKS AND UNCERTAINTIES

Commercial Risk

There is a commercial risk of non-payment of work and disputes arising from delays. However, PGL mainly work with Tier 1 contractors and have established good relationships with client commercial teams.

PGL's IMS System ensures that checks are carried out on all new clients including assessing credit risk and credit limits and a selective tendering process to filter our projects of higher commercial risk.

Health & Safety Risk

Health and Safety is a significant risk to the business with both a commercial and a reputational impact. PGL strong safety record is a distinguishing factor when clients choose to work with PGL, and increasingly the investment in mental health and general wellbeing support is being valued.

All staff have industry recognised qualifications and are trained to be safe and competent in their role. They are also trained above industry standard through in-house training programmes which includes Risk Aversion Training.

PGL has also renewed its Professional Indemnity insurance at a value required by contractors.

FINANCIAL KEY PERFORMANCE INDICATORS

Key performance indicators for the company are turnover and gross margins which are regularly reported on and reviewed.

2025 2024

£ £

Turnover 15,199,283 18,390,957

Gross profit margin 10.28% 9.00%

ON BEHALF OF THE BOARD:

G Rickson - Director

18 June 2026

The directors present their report with the financial statements of the company for the period 1 January 2025 to 30 September 2025.

DIVIDENDS

An interim dividend of £348 per share on the Ordinary A £1 shares was paid on 30 September 2025. The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary B £1 shares. The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary C £1 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the period ended 30 September 2025 will be £ 348,000 .

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period 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.

P Rickson

L Rickson

G Rickson

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G Rickson - Director

18 June 2026

Opinion

We have audited the financial statements of Pgl Brickwork + Scaffolding Contractors Ltd (the 'company') for the period ended 30 September 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 30 September 2025 and of its profit for the period 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.

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and we considered the extent to which non-compliance might have a material effect on the financial statements.

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and the manipulation of exceptional items and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

- enquiries with management, including consideration of known or suspected instances of fraud and non-compliance with laws and regulations and examining supporting calculations where a provision has been made in respect of these;

- reading key correspondence with regulatory authorities in relation to compliance with certain employment laws;

- understanding and evaluating the design and implementation of management's controls designed to prevent and detect irregularities;

- challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to valuation of investment property, impairment of investments in subsidiaries and the measurement and classification of exceptional items;

- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations and postings by unusual users.

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. Also, 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 deliberate concealment by, for example, forgery or intentional misrepresentations, or through 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.

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.

Richard Harris (Senior statutory auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

Statutory Auditor

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

18 June 2026

TURNOVER

15,199,283

18,390,957

Cost of sales

(13,636,876

)

(16,738,831

)

GROSS PROFIT

1,562,407

1,652,126

Administrative expenses

(1,328,253

)

(1,659,733

)

234,154

(7,607

)

Other operating income

44,733

2,705

OPERATING PROFIT/(LOSS)

5

278,887

(4,902

)

Income from shares in group undertakings

60,126

275,000

Interest receivable and similar income

-

731

339,013

270,829

Interest payable and similar expenses

6

(56,526

)

(119,798

)

PROFIT BEFORE TAXATION

282,487

151,031

Tax on profit

7

(55,567

)

31,124

PROFIT FOR THE FINANCIAL PERIOD

226,920

182,155

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

226,920

182,155

FIXED ASSETS

Tangible assets

9

488,789

533,683

Investments

10

263,120

263,120

751,909

796,803

CURRENT ASSETS

Stocks

11

1,623,519

1,128,852

Debtors

12

2,116,283

2,370,729

Cash at bank

1,006,982

1,170,201

4,746,784

4,669,782

CREDITORS

Amounts falling due within one year

13

(2,359,502

)

(1,972,254

)

NET CURRENT ASSETS

2,387,282

2,697,528

TOTAL ASSETS LESS CURRENT LIABILITIES

3,139,191

3,494,331

CREDITORS

Amounts falling due after more than one year

14

(120,605

)

(347,116

)

PROVISIONS FOR LIABILITIES

17

(42,726

)

(50,275

)

NET ASSETS

2,975,860

3,096,940

CAPITAL AND RESERVES

Called up share capital

18

1,000

1,000

Retained earnings

19

2,974,860

3,095,940

SHAREHOLDERS' FUNDS

2,975,860

3,096,940

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2026 and were signed on its behalf by:

G Rickson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

1,000

3,395,785

3,396,785

Changes in equity

Dividends

-

(482,000

)

(482,000

)

Total comprehensive income

-

182,155

182,155

Balance at 31 December 2024

1,000

3,095,940

3,096,940

Changes in equity

Dividends

-

(348,000

)

(348,000

)

Total comprehensive income

-

226,920

226,920

Balance at 30 September 2025

1,000

2,974,860

2,975,860

1.	STATUTORY INFORMATION

Pgl Brickwork + Scaffolding Contractors 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.

The company has shortened the reporting period date to 30 September for commercial reasons. Therefore, the comparatives are not entirely comparable.

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

•

the requirements of Section 7 Statement of Cash Flows.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents

amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.

Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are

recognised as an expense in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is

expensed immediately, with a corresponding provision for an onerous contract being recognised.

Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue.

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.

Short leasehold

-

20% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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 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.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make estimations and judgements that affect the reported disclosures.

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.

Management's estimation and assumptions form the basis for making judgments about the carrying value of assets and liabilities that are not readily available from other sources. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Depreciation

The company exercises judgment to determine useful lives and residual values of intangibles and property, plant and equipment. The assets are depreciated down to their residual values over their estimated useful lives.

Work in progress

The entity exercises judgment to determine the value of the work in progress at the year end. Work in progress comprises unbilled amounts for customer work, measured at fair value less provisions for foreseeable losses.

4.	EMPLOYEES AND DIRECTORS

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

£

£

Wages and salaries

628,540

796,303

Social security costs

71,819

82,093

Other pension costs

10,641

9,427

711,000

887,823

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

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

Directors

3

3

Administrative staff

19

19

22

22

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

£

£

Directors' remuneration

35,893

28,800

5.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging/(crediting):

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

£

£

Hire of plant and machinery

33,065

64,465

Depreciation - owned assets

45,941

83,381

Depreciation - assets on hire purchase contracts

53,072

89,383

Profit on disposal of fixed assets

-

(34,551

)

Auditors' remuneration

16,953

22,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

£

£

Bank loan interest

19,184

44,431

Other interest payable

4,129

15,868

Hire purchase

33,213

59,499

56,526

119,798

7.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the period was as follows:

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

£

£

Current tax:

UK corporation tax

63,116

334

Prior year taxation

-

(1,160

)

Total current tax

63,116

(826

)

Deferred tax

(7,549

)

(30,298

)

Tax on profit

55,567

(31,124

)

Reconciliation of total tax charge/(credit) included in profit and loss

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

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

£

£

Profit before tax

282,487

151,031

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 19%)

70,622

28,696

Effects of:

Expenses not deductible for tax purposes

39

768

Income not taxable for tax purposes

(15,032

)

(58,815

)

Depreciation in excess of capital allowances

7,487

29,685

Adjustments to tax charge in respect of previous periods

-

(1,160

)

Deferred tax charge on accelerated capital allowances

(7,549

)

(30,298

)

Total tax charge/(credit)

55,567

(31,124

)

8.

DIVIDENDS

Period

1.1.25

to

Year Ended

30.9.25

31.12.24

£

£

Ordinary A shares of £1 each

Interim

348,000

482,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2025

11,369

120,865

23,840

Additions

-

896

-

At 30 September 2025

11,369

121,761

23,840

DEPRECIATION

At 1 January 2025

11,369

60,680

12,638

Charge for period

-

8,669

2,682

At 30 September 2025

11,369

69,349

15,320

NET BOOK VALUE

At 30 September 2025

-

52,412

8,520

At 31 December 2024

-

60,185

11,202

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

1,136,674

11,888

1,304,636

Additions

53,223

-

54,119

At 30 September 2025

1,189,897

11,888

1,358,755

DEPRECIATION

At 1 January 2025

674,378

11,888

770,953

Charge for period

87,662

-

99,013

At 30 September 2025

762,040

11,888

869,966

NET BOOK VALUE

At 30 September 2025

427,857

-

488,789

At 31 December 2024

462,296

-

533,683