REGISTERED NUMBER: 07786822 (England and Wales)

Report of the Directors and

Unaudited Consolidated Financial Statements

for the Year Ended 30 September 2025

for

Whitby Wood Limited

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

4

Consolidated Balance Sheet

5

Company Balance Sheet

7

Notes to the Consolidated Financial Statements

9

Directors:

M Whitby

S J Wood

A N Baalham

C S Murray

K J Harrison

S Lewis

T J Cunningham

Registered office:

Level 1

Friars Yard

160 Blackfriars Road

London

SE1 8EZ

Registered number:

07786822 (England and Wales)

Accountants:

FUSE Accountants LLP

Pound House

62a Highgate High Street

London

N6 5HX

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

Principal activity

The principal activity of the group in the year under review was that of consultancy on engineering services

Review of business

Whitby Wood's principal activities during the financial year ending 30 September 2025 were Structural, Civil and Geotechnical Engineering consultancy services. We also continued to invest in our sustainability offer, rebranding the Stewardship team (founded in 2022/23) as Alpha this year.

The exceptional challenges of recent years have become the new normal. The effects of climate change, geopolitical instability, political volatility and financial complexity are now constants that bear directly on project viability. Our response has been to position ourselves as trusted navigators of this uncertainty, supporting clients across the full development value chain, from funders and developers to contractors and end users. This focus has driven sustained growth: turnover has increased by an average of 19% per year over the past five years, and our UK headcount now stands at 109.

We remain committed to building a lean, agile business that evolves its services in step with client need. Being genuinely client facing is central to our philosophy, helping clients find a clear path through complexity towards outcomes that are both financially successful and environmentally responsible.

Our project work continues to diversify. We are active in rail build over structures, complex refurbishments, challenging ground conditions and seismic design, working both nationally and internationally in collaboration with our group Whitby Wood businesses. Two recent projects illustrate this range: the completion of a specialist timber education facility for the University of Arkansas, and breaking ground on a new concert hall in Edinburgh.

Digital development remains a strategic priority. This year we have continued to evolve our business operations software, including a proprietary email management system and a major upgrade to our Job Management System, alongside a project design philosophy and database application that improves consistency of delivery across the practice. We have invested in AI licences for all staff and established a steering group to drive AI-led business transformation. We see the rapid advancement of AI as a significant opportunity for the practice, for our industry, and for the quality of outcomes we can deliver to clients and staff alike.

In May 2025, we relocated our London office to a newly refurbished building on Blackfriars Road, taking a single floor space 55% larger than our previous premises - an investment made in anticipation of continued expansion. Our regional offices in Bristol, Leeds and Milan have each grown during the year.

Tuan Huynh-Quoc and Daniel Zwetsloot were added to the leadership team during the year. Both have led teams within the business for over five years, and their appointments reflect the strength of the talent we have developed internally.

Since the end of the financial year, we have agreed a management buyout of our Singapore business, Whitby Wood Mills Pte Ltd. In December 2025, the shareholding in the company was transferred into a group company (Whitby Wood Group Limited) which remains owned by the directors of the company.

Our second annual Performance and Impact Report which gives further detail on the business, our projects and the initiatives described above has been published. We encourage you to read it alongside these accounts. This is available via the Whitby Wood website (https://www.whitbywood.com/impact-report-2025/).

Directors

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

M Whitby

S J Wood

A N Baalham

C S Murray

K J Harrison

S Lewis

T J Cunningham

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

C S Murray - Director

19 June 2026

Turnover

14,784,043

9,967,645

Cost of sales

(3,835,668

)

(1,024,600

)

Gross profit

10,948,375

8,943,045

Administrative expenses

(9,958,754

)

(7,701,356

)

989,621

1,241,689

Other operating income

280,197

15,167

Operating profit

4

1,269,818

1,256,856

Interest receivable and similar income

13,818

-

1,283,636

1,256,856

Interest payable and similar expenses

(13,539

)

(12,051

)

Profit before taxation

1,270,097

1,244,805

Tax on profit

(165,842

)

55,203

Profit for the financial year

1,104,255

1,300,008

Profit attributable to:

Owners of the parent

750,460

981,490

Non-controlling interests

353,795

318,518

1,104,255

1,300,008

Fixed assets

Intangible assets

6

3,953

4,447

Tangible assets

7

258,618

180,918

Investments

8

-

-

262,571

185,365

Current assets

Debtors

9

3,456,566

3,318,567

Cash at bank

2,655,511

1,011,605

6,112,077

4,330,172

Creditors

Amounts falling due within one year

10

2,807,180

2,033,494

Net current assets

3,304,897

2,296,678

Total assets less current liabilities

3,567,468

2,482,043

Creditors

Amounts falling due after more than one year

11

(42,953

)

(71,419

)

Provisions for liabilities

12

(41,790

)

(32,154

)

Net assets

3,482,725

2,378,470

Capital and reserves

Called up share capital

440

440

Retained earnings

2,809,914

2,059,483

Shareholders' funds

2,810,354

2,059,923

Non-controlling interests

672,371

318,547

Total equity

3,482,725

2,378,470

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2026 and were signed on its behalf by:

C S Murray - Director

Fixed assets

Intangible assets

6

-

-

Tangible assets

7

238,689

175,777

Investments

8

4,971

4,971

243,660

180,748

Current assets

Debtors

9

3,140,863

2,773,079

Cash at bank

938,627

781,756

4,079,490

3,554,835

Creditors

Amounts falling due within one year

10

2,126,791

1,903,112

Net current assets

1,952,699

1,651,723

Total assets less current liabilities

2,196,359

1,832,471

Creditors

Amounts falling due after more than one year

11

(42,953

)

(71,419

)

Provisions for liabilities

12

(41,790

)

(32,154

)

Net assets

2,111,616

1,728,898

Capital and reserves

Called up share capital

440

440

Retained earnings

2,111,176

1,728,458

Shareholders' funds

2,111,616

1,728,898

Company's profit for the financial year

382,718

650,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2026 and were signed on its behalf by:

C S Murray - Director

1.	Statutory information

Whitby Wood 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 General 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Plant and machinery

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 115 (2024 - 91 ) .

4.	Operating profit

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

63,291

51,102

Goodwill amortisation

494

494

5.	Individual income statement

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	Intangible fixed assets

Group

Goodwill

£

Cost

At 1 October 2024

and 30 September 2025

4,941

Amortisation

At 1 October 2024

494

Charge for year

494

At 30 September 2025

988

Net book value

At 30 September 2025

3,953

At 30 September 2024

4,447

7.	Tangible fixed assets

Group

Short

Plant and

leasehold

machinery

Totals

£

£

£

Cost

At 1 October 2024

84,962

363,303

448,265

Additions

52,092

88,899

140,991

At 30 September 2025

137,054

452,202

589,256

Depreciation

At 1 October 2024

37,801

229,546

267,347

Charge for year

11,035

52,256

63,291

At 30 September 2025

48,836

281,802

330,638

Net book value

At 30 September 2025

88,218

170,400

258,618

At 30 September 2024

47,161

133,757

180,918

Company

Short

Plant and

leasehold

machinery

Totals

£

£

£

Cost

At 1 October 2024

84,962

357,477

442,439

Additions

52,092

70,056

122,148

At 30 September 2025

137,054

427,533

564,587

Depreciation

At 1 October 2024

37,801

228,861

266,662

Charge for year

11,035

48,201

59,236

At 30 September 2025

48,836

277,062

325,898

Net book value

At 30 September 2025

88,218

150,471

238,689

At 30 September 2024

47,161

128,616

175,777

8.	Fixed asset investments

Company

Shares in

group

undertaking

£

Cost

At 1 October 2024

and 30 September 2025

4,971

Net book value

At 30 September 2025

4,971

At 30 September 2024

4,971

9.

Debtors: amounts falling due within one year

Group

Company

2025

2024

2025

2024

£

£

£

£

Trade debtors

2,711,290

2,734,687

2,379,254

2,163,012

Amounts owed by group undertakings

-

-

41,926

54,026

Amounts owed by associates

21,782

162,180

21,782

137,066

Other debtors

653,494

351,700

627,901

348,975

Directors' current accounts

70,000

70,000

70,000

70,000

3,456,566

3,318,567

3,140,863

2,773,079

10.

Creditors: amounts falling due within one year

Group

Company

2025

2024

2025

2024

£

£

£

£

Bank loans and overdrafts

30,859

28,300

30,859

28,300

Trade creditors

723,052

440,054

325,683

464,132

Amounts owed to associates

38,433

-

-

-

Tax

186,910

133,140

-

-

Social security and other taxes

181,888

149,785

181,888

149,785

VAT

817,513

678,304

817,513

678,304

Other creditors

239,144

154,253

181,467

132,933

Directors' current accounts

7,691

7,691

7,691

7,691

Accruals and deferred income

581,690

441,967

581,690

441,967

2,807,180

2,033,494

2,126,791

1,903,112

11.

Creditors: amounts falling due after more than one year

Group

Company

2025

2024

2025

2024

£

£

£

£

Bank loans - 1-2 years

33,948

31,121

33,948

31,121

Bank loans - 2-5 years

9,005

40,298

9,005

40,298

42,953

71,419

42,953

71,419

12.	Provisions for liabilities

Group

Company

2025

2024

2025

2024

£

£

£

£

Deferred tax

Accelerated capital allowances

41,790

32,154

41,790

32,154

Group

Deferred

tax

£

Balance at 1 October 2024

32,154

Charge to Income Statement during year

9,636

Balance at 30 September 2025

41,790

Company

Deferred

tax

£

Balance at 1 October 2024

32,154

Charge to Statement of Income and Retained Earnings during year

9,636

Balance at 30 September 2025

41,790

13.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2025 and 30 September 2024:

2025

2024

£

£

S J Wood

Balance outstanding at start of year

70,000

70,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

70,000

70,000

14.	Ultimate controlling party

The directors together are the ultimate controlling party of the company.