MAP Group (UK) Ltd Company accounts

COMPANY REGISTRATION NUMBER: 02853596

MAP Group (UK) Ltd

Financial Statements

30 September 2025

MAP Group (UK) Ltd

Financial Statements

Year ended 30 September 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	7

Statement of comprehensive income	11

Statement of financial position	12

Statement of changes in equity	13

Statement of cash flows	14

Notes to the financial statements	15

MAP Group (UK) Ltd

Officers and Professional Advisers

The board of directors	Mr S Singh
	Mr M Carlin
	Mrs A Carter
	Mr M G Carlin

Company secretary	Mrs M J Armstrong

Registered office	3 George Stephenson Court
	Westland Way Preston Farm Industrial Estate
	Stockton on Tees
	TS18 3FB

Accountant Benson Wood Ltd

Unit 21 Belasis Court

Billingham

TS23 4AZ

Auditor	Sumer Auditco Limited
	Statutory auditor
	Unit 2 Gosforth Park
	Newcastle Upon Tyne
	NE12 8EG

MAP Group (UK) Ltd

Strategic Report

Year ended 30 September 2025

Review of the business

The company is one of the leading independent providers of professional technology services to the UK communications sector, including network operators, service providers, equipment vendors, utility providers, government and public bodies and private enterprises. The strategy of the company during the year was to maintain and develop its status as a tier one provider within the telecommunications industry as well as develop existing relationships within the sector and secure contracts with new clients. Turnover increased by £1.2m to £75.60m compared with £74.40m in 2024, this was in line with the directors expectations to try to maintain turnover levels in the current year compared with the prior year. Gross profit has increased by £4.27m to £28.23m, as a percentage of turnover 5.14% to 37.34% (2024: £23.96m 32.20%). The retained profit after tax and dividends for the year was £13.52m (2024: £8.62m). During the year to 30 September 2024 the company incurred exceptional non trading expenses of £1.4m in relation to the impairment of an intercompany debt when one of the company's subsidiaries, Utility Services (N.E.) Limited, entered administration. There have been no such costs in the current year.

Principal risks and uncertainties

The principal risks and uncertainties for the company centre around the factors facing the telecommunications industry and the economy as a whole. The directors undertake regular reviews including but not limited to tenders, customer and management feed back, cash flow and labour usage. The company is exposed to commodity price risk in particular to movements in fuel prices. The company seeks to manage its exposure to price risk by entering into fixed price contracts where this is appropriate and negotiate price increases from customers where possible. As a result, exposure to price rises are being managed. The company recognises its performance depends largely on its key employees. Employees are remunerated with competitive packages and conditions as well as specific employee incentive schemes.

Key performance indicators

The company uses the following key performance indicators to review the financial performance: Turnover £75.6m (2024 £74.4m) Gross profit margin 37.34% (2024 32.20%) Operating profit margin 23.44% (2024 11.30%) Return on capital employed 3.03% (2024 1.32%) Liquidity ratio 1.64 (2024 2.31) Net assets £10.6m (2024 £14.7m)

Promoting the success of the company

The directors of the company must act in accordance with a set of general duties, which are detailed in section 172 of the UK Companies Act 2006. A director must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of it's shareholders as a whole. As part of their induction, a director is briefed on their duties and they can access professional advice on these from an independent advisor. The company's strategy prioritises organic growth by selling services to its existing clients by developing and maintaining strong client relationships and through regular contact with its clients, ensures that the company continues to offer high quality services. The company's suppliers and subcontractors are fundamental to its business operations. The company values all of its relationships and has long-term contracts with its key suppliers. To ensure the company manages it suppliers effectively, it looks to reduce reliance on critical suppliers and mitigate risk. For operational suppliers the company seeks to consolidate spend, reduce transactions and consumption. The company places considerable value on the involvement of its employees and has continued to keep them regularly informed on matters affecting them and on the various factors affecting the performance of the company. This is achieved through direct communications, formal and informal meetings. The company is committed to making health and safety an integral part of its everyday business, ensuring full compliance with all statutory requirements. The company recognises the social and environmental impact on the communities around it, therefore, it aims to contribute to the local communities through donations and sponsorship of local teams and events. The company looks to minimise its disruption to local communities when carrying out their works.

This report was approved by the board of directors on 18 June 2026 and signed on behalf of the board by:

Mr M Carlin

Director

Registered office:

3 George Stephenson Court

Westland Way Preston Farm Industrial Estate

Stockton on Tees

TS18 3FB

MAP Group (UK) Ltd

Directors' Report

Year ended 30 September 2025

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

Directors

The directors who served the company during the year were as follows:

Mr S Singh
Mr M Carlin
Mrs A Carter
Mr M G Carlin

Dividends

The directors do not recommend the payment of a dividend.

Future developments

The directors anticipate continued growth in the coming financial year by continuing to invest in infrastructure, employees and continuing to meet evolving customer needs.

Greenhouse gas emissions and energy consumption

	Unit	2025	2024
Emissions resulting from activities for which the company is responsible	tCO2e	2,503	2,250
Emissions resulting from the purchase of electricity by the company for its own use	tCO2e	70	96
		-------	-------
Total emissions	tCO2e	2,573	2,346
Total energy consumption	kWh	10,878,840	10,039,500
Tonnes CO2e per £1 million turnover		143.90	134.94
		-------------	-------------

Methodologies for energy and emissions calculations

All conversion factors and fuel properties used in this disclosure have been taken from the 2025 “UK Government Greenhouse Gas Conversion Factors for Company Reporting” published by the Department for Energy Security & Net Zero (DESNZ) and the Department for Environment, Food & Rural Affairs (DEFRA). All greenhouse gas emissions have been expressed in terms of their carbon dioxide equivalence. Energy consumption expressed in kilowatt-hours has been taken from suppliers' invoices. Conversion factors for the average UK generation mix have been used to calculate greenhouse gas emissions. Map Group moved to a REGO backed electricity supply in February 2024 and the emissions have been adjusted accordingly. Solar panels have been installed at Map House and the emissions have been adjusted. Fuel card data has been used to calculate the emissions from the Company Fleet Vehicles with the figures in litres of fuel consumed. No other sources of emissions have been identified.

Employment of disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance. There is an employee ownership trust which holds shares for the benefit of all employees.

Research and development

The company continues to utilise its technical and materials expertise to remain at the forefront of innovative technology and provide services to maximise the performance and capabilities of its customers. The Company continues to work with new and existing customers and suppliers to develop its knowledge and service range.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report 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 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 judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 18 June 2026 and signed on behalf of the board by:

Mr M Carlin

Director

Registered office:

3 George Stephenson Court

Westland Way Preston Farm Industrial Estate

Stockton on Tees

TS18 3FB

MAP Group (UK) Ltd

Independent Auditor's Report to the Members of MAP Group (UK) Ltd

Year ended 30 September 2025

Opinion

We have audited the financial statements of MAP Group (UK) Ltd (the 'company') for the year ended 30 September 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 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 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 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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.

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 directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' responsibilities statement, 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 is 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.

Auditor's 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 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Capability of the audit in detecting irregularities, including fraud Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team,as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity: Those laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation. Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include health and safety legislation. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of legal costs incurred; testing the appropriateness of journal entries; and the performance of analytical review to to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. 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 is available on the Financial Reporting Council’s website at: https: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 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.

Paul Gainford

(Senior Statutory Auditor)

For and on behalf of

Sumer Auditco Limited

Statutory auditor

Unit 2 Gosforth Park

Newcastle Upon Tyne

NE12 8EG

18 June 2026

MAP Group (UK) Ltd

Statement of Comprehensive Income

Year ended 30 September 2025

		2025	2024
Note		£	£
Turnover	4	75,597,498	74,397,230

Cost of sales	47,368,526	50,440,328
	-------------	-------------
Gross profit	28,228,972	23,956,902

Administrative expenses		10,525,295	11,912,217
Other operating income	5	15,557	83,550
		-------------	-------------
Operating profit	6	17,719,234	12,128,235

Other interest receivable and similar income	10	383,749	299,996
Other gains and losses	11	–	1,434,967
Interest payable and similar expenses	12	66,969	89,165
		-------------	-------------
Profit before taxation		18,036,014	10,904,099

Tax on profit	13	4,513,153	2,283,617
		-------------	-------------
Profit for the financial year		13,522,861	8,620,482
		-------------	-------------

Consideration paid on behalf of the Employee Ownership Trust to acquire shares of the company	(17,627,022)	(22,239,268)
	-------------	-------------
Total comprehensive income for the year	( 4,104,161)	( 13,618,786)
	-------------	-------------

All the activities of the company are from continuing operations.

MAP Group (UK) Ltd

Statement of Financial Position

30 September 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	14	1,875,669	2,043,568
Investments	15	2	2
		------------	------------
		1,875,671	2,043,570

Current assets

Stocks	16	173,609	851,177
Debtors: due within one year	17	17,927,290	13,814,764
Debtors: due after more than one year	17	598,920	1,660,232
Cash at bank and in hand		5,468,679	7,519,387
		-------------	-------------
		24,168,498	23,845,560

Creditors: amounts falling due within one year	18	14,712,486	10,208,598
		-------------	-------------
Net current assets		9,456,012	13,636,962
		-------------	-------------
Total assets less current liabilities		11,331,683	15,680,532

Creditors: amounts falling due after more than one year	19	467,723	678,995

Provisions	21	281,588	315,004
		-------------	-------------
Net assets		10,582,372	14,686,533
		-------------	-------------

Capital and reserves

Called up share capital	24	57,334	57,334
Capital redemption reserve	25	42,666	42,666
Profit and loss account	25	10,482,372	14,586,533
		-------------	-------------
Shareholders funds		10,582,372	14,686,533
		-------------	-------------

These financial statements were approved by the board of directors and authorised for issue on 18 June 2026 , and are signed on behalf of the board by:

Mr M G Carlin

Director

Company registration number: 02853596

MAP Group (UK) Ltd

Statement of Changes in Equity

Year ended 30 September 2025

		Called up share capital	Capital redemption reserve	Profit and loss account	Total
		£	£	£	£
At 1 October 2023		57,334	42,666	28,205,319	28,305,319

Profit for the year				8,620,482	8,620,482
Other comprehensive income for the year:
	Consideration paid on behalf of the Employee Ownership Trust to acquire shares of the company	–	–	(22,239,268)	(22,239,268)
		--------	--------	-------------	-------------
Total comprehensive income for the year		–	–	( 13,618,786)	( 13,618,786)

At 30 September 2024		57,334	42,666	14,586,533	14,686,533

Profit for the year				13,522,861	13,522,861
Other comprehensive income for the year:
	Consideration paid on behalf of the Employee Ownership Trust to acquire shares of the company	–	–	(17,627,022)	(17,627,022)
		--------	--------	-------------	-------------
Total comprehensive income for the year		–	–	( 4,104,161)	( 4,104,161)

		--------	--------	-------------	-------------
At 30 September 2025		57,334	42,666	10,482,372	10,582,372
		--------	--------	-------------	-------------

MAP Group (UK) Ltd

Statement of Cash Flows

Year ended 30 September 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	13,522,861	8,620,482

Adjustments for:
Depreciation of tangible assets	390,684	411,013
Other interest receivable and similar income	( 383,749)	( 299,996)
Interest payable and similar expenses	66,969	89,165
Loss on disposal of tangible assets	11,956	11,487
Tax on profit	4,513,153	2,283,617
Accrued expenses	435,893	448,914

Changes in:
Stocks	677,568	703,910
Trade and other debtors	( 3,051,214)	12,812,139
Trade and other creditors	1,986,472	( 3,706,435)
	-------------	-------------
Cash generated from operations	18,170,593	21,374,296

Interest paid	( 66,969)	( 89,165)
Interest received	383,749	299,996
Tax paid	( 2,505,861)	( 3,255,674)
	-------------	-------------
Net cash from operating activities	15,981,512	18,329,453
	-------------	-------------

Cash flows from investing activities

Purchase of tangible assets	( 241,896)	( 238,561)
Proceeds from sale of tangible assets	7,155	–
	-------------	-------------
Net cash used in investing activities	( 234,741)	( 238,561)
	-------------	-------------

Cash flows from financing activities

Payments of finance lease liabilities	( 170,457)	( 84,082)
Other financing cash flow adjustment	(17,627,022)	(22,239,268)
	-------------	-------------
Net cash used in financing activities	( 17,797,479)	( 22,323,350)
	-------------	-------------

Net decrease in cash and cash equivalents	( 2,050,708)	( 4,232,458)
Cash and cash equivalents at beginning of year	7,519,387	11,751,845
	------------	-------------
Cash and cash equivalents at end of year	5,468,679	7,519,387
	------------	-------------

MAP Group (UK) Ltd

Notes to the Financial Statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 George Stephenson Court, Westland Way Preston Farm Industrial Estate, Stockton on Tees, TS18 3FB.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 402 of the Companies Act 2006 on the basis that its subsidiaries are excluded from consolidation on the grounds that their inclusion is not material for the purpose of giving a true and fair view. The financial statements present information about the company as an invidual entity.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. Impairment of tangible assets Determination whether there are indicators of impairment of tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset. Valuation of trade debtors Determine trade debtors are accurately provided for within amounts recoverable on contracts. Factors taken into consideration include confirmation that disputed sales and amounts applied for but not yet approved are captured. Key sources of estimation uncertainty In the application of the company’s accounting policies, the directors are required to make judgements,estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Depreciation and asset impairment Estimates included within these financial statements include depreciation and asset impairments (for example provisions against debtors). None of the estimates made in the preparation of these financial statements are considered to carry significant estimation uncertainty, nor bear significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue from the provision of contractual services is recognised when the right to consideration has been achieved through the completion of activities on each job. When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Long leasehold property	-	4% straight line
Leasehold improvements	-	5% reducing balance
Plant and machinery	-	25% reducing balance

	Fixtures and fittings	-	33% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	75,597,498	74,397,230
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Other operating income	15,557	83,550
	--------	--------

6. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	390,684	411,013
Loss on disposal of tangible assets	11,956	11,487
Impairment of trade debtors	–	433,742
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	25,000	26,000
	--------	--------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Administrative staff	56	72
Management staff	63	37
Direct labour	252	245
	----	----
	371	354
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	20,019,489	18,848,641
Social security costs	2,514,014	2,056,085
Other pension costs	355,557	489,038
	-------------	-------------
	22,889,060	21,393,764
	-------------	-------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	2,720,758	2,935,342
	------------	------------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	3	3
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	827,263	842,538
Company contributions to defined contribution pension plans	1,258	440
	---------	---------
	828,521	842,978
	---------	---------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on bank deposits	266,819	233,206
Other interest receivable and similar income	116,930	66,790
	---------	---------
	383,749	299,996
	---------	---------

11. Other gains and losses

	2025	2024
	£	£
Amounts written off current asset investments	–	1,434,967
	----	------------

12. Interest payable and similar expenses

	2025	2024
	£	£
Interest on obligations under finance leases and hire purchase contracts	66,969	64,816
Other interest payable and similar charges	–	24,349
	--------	--------
	66,969	89,165
	--------	--------

13. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	4,546,569	2,474,237
Adjustments in respect of prior periods	–	( 187,070)
	------------	------------
Total current tax	4,546,569	2,287,167
	------------	------------

Deferred tax:

Origination and reversal of timing differences	( 33,416)	( 3,550)
	------------	------------
Tax on profit	4,513,153	2,283,617
	------------	------------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	18,036,014	10,904,099
	-------------	-------------
Profit on ordinary activities by rate of tax	4,509,004	2,726,025
Adjustment to tax charge in respect of prior periods	–	( 187,070)
Effect of expenses not deductible for tax purposes	–	367,041
Effect of capital allowances and depreciation	37,565	39,925
Group relief	–	(658,754)
Deferred taxation movement	(33,416)	(3,550)
	-------------	-------------
Tax on profit	4,513,153	2,283,617
	-------------	-------------

14. Tangible assets

	Freehold property	Long leasehold property	Short leasehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£	£	£
Cost
At 1 Oct 2024	636,440	69,610	162,296	2,166,790	429,052	3,464,188
Additions	–	–	–	232,015	9,881	241,896
Disposals	–	–	( 100,261)	( 4,900)	–	( 105,161)
	---------	--------	---------	------------	---------	------------
At 30 Sep 2025	636,440	69,610	62,035	2,393,905	438,933	3,600,923
	---------	--------	---------	------------	---------	------------
Depreciation
At 1 Oct 2024	6,526	36,845	101,742	980,230	295,277	1,420,620
Charge for the year	3,729	2,784	3,028	336,260	44,883	390,684
Disposals	–	–	( 86,050)	–	–	( 86,050)
	---------	--------	---------	------------	---------	------------
At 30 Sep 2025	10,255	39,629	18,720	1,316,490	340,160	1,725,254
	---------	--------	---------	------------	---------	------------
Carrying amount
At 30 Sep 2025	626,185	29,981	43,315	1,077,415	98,773	1,875,669
	---------	--------	---------	------------	---------	------------
At 30 Sep 2024	629,914	32,765	60,554	1,186,560	133,775	2,043,568
	---------	--------	---------	------------	---------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
At 30 September 2025	695,834	12,953	708,787
	---------	--------	---------
At 30 September 2024	832,152	19,333	851,485
	---------	--------	---------

15. Investments

	Shares in group undertakings
	£
Cost
At 1 October 2024 and 30 September 2025	2
	----
Impairment
At 1 October 2024 and 30 September 2025	–
	----

Carrying amount
At 30 September 2025	2
	----
At 30 September 2024	2
	----

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
MAP Business Services Ltd 3 George Stephenson Court, Westland Way, Preston Farm Industrial Estate, Stockton on Tees TS18 3FB	Ordinary	100
MAP Building Solutions Ltd 3 George Stephenson Court, Westland Way, Preston Farm Industrial Estate, Stockton on Tees TS18 3FB	Ordinary	100

16. Stocks

	2025	2024
	£	£
Raw materials and consumables	173,609	851,177
	---------	---------

17. Debtors

Debtors falling due within one year are as follows:

	2025	2024
	£	£
Trade debtors	9,967,433	6,764,640
Amounts owed by group undertakings	400,000	400,000
Amounts owed by customers on construction contracts	5,143,429	5,354,665
Prepayments and accrued income	319,850	209,099
Other debtors	2,096,578	1,086,360
	-------------	-------------
	17,927,290	13,814,764
	-------------	-------------

Debtors falling due after one year are as follows:

	2025	2024
	£	£
Amounts owed by customers on construction contracts	598,920	1,252,258
Other debtors	–	407,974
	---------	------------
	598,920	1,660,232
	---------	------------

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,455,542	2,440,116
Accruals and deferred income	4,990,503	4,936,952
Corporation tax	2,993,595	952,887
Social security and other taxes	2,917,915	1,531,009
Obligations under finance leases and hire purchase contracts	275,139	234,324
Other creditors	79,792	113,310
	-------------	-------------
	14,712,486	10,208,598
	-------------	-------------

19. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Obligations under finance leases and hire purchase contracts	467,723	678,995
	---------	---------

20. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	275,139	234,324
Later than 1 year and not later than 5 years	467,723	678,995
	---------	---------
	742,862	913,319
	---------	---------

21. Provisions

	Deferred tax (note 22)
	£
At 1 October 2024	315,004
Unused amounts reversed	( 33,416)
	---------
At 30 September 2025	281,588
	---------

22. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 21)	281,588	315,004
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	281,588	315,004
	---------	---------

23. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 355,557 (2024: £ 489,038 ).

24. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	57,334	57,334	57,334	57,334
	--------	--------	--------	--------

25. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

26. Reclassification of profit and loss items

Certain amounts in the prior year's profit and loss have been reclassified to conform to the current year's presentation. These reclassifications have no impact on total comprehensive income or net assets, and the overall effect on the financial statements is immaterial.

27. Analysis of changes in net debt

	At 1 Oct 2024	Cash flows	At 30 Sep 2025
	£	£	£
Cash at bank and in hand	7,519,387	(2,050,708)	5,468,679
Debt due within one year	(234,324)	(40,815)	(275,139)
Debt due after one year	(678,995)	211,272	(467,723)
	------------	------------	------------
	6,606,068	( 1,880,251)	4,725,817
	------------	------------	------------

28. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	1,419,366	1,528,170
Later than 1 year and not later than 5 years	2,273,292	3,625,508
Later than 5 years	1,047,360	1,256,832
	------------	------------
	4,740,018	6,410,510
	------------	------------

29. Directors' advances, credits and guarantees

At the balance sheet date there were no amounts due to/from the directors (2024: Nil).

MAP Group (UK) Ltd

Notes to the Financial Statements (continued)

Year ended 30 September 2025

30. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Wholly owed subsidiary	–	2,304,885	400,000	400,000
	----	------------	---------	---------

The amounts outstanding were unsecured and interest free, the company went into administration on 2nd August 2024 however the administrators believe that a portion of the debt will be recovered.

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the company was £ 2,653,838 (2024: £ 3,221,354 ).

31. Controlling party

The ultimate controlling party is The MAP Group (UK) Employee Ownership Trustee Ltd. A corporate trust that was established for the benefit of all eligible employees.