REGISTERED NUMBER: 10287962 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

FOR

BMH GROUP HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Director

5

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTOR:

Mr C P Watson

SECRETARY:

Mrs K A Rousell

REGISTERED OFFICE:

Unit 2 Plymouth Avenue

Brookhill Industrial Estate

Pinxton

Derbyshire

NG16 6RA

REGISTERED NUMBER:

10287962 (England and Wales)

AUDITORS:

Shaw Gibbs (Audit) Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

The director presents his Group Strategic Report for BMH Group Holdings Limited (the "Company") and its subsidiary undertaking (together, the "Group") for the year ended 30 September 2025.

REVIEW OF BUSINESS

BMH Group Holdings Limited is the parent company of B M H Scaffolding Limited and also holds investment property which generates an annual rental income. The Group operates within the structure established by the strategic demerger and restructuring completed in June 2023, which separated the former combined group into two independent groups: BMH Group Holdings Limited as parent of the scaffolding business, and Phoenix UK Group Limited as parent of the Phoenix Brickwork and Phoenix Drywall businesses. Now well established within this structure, the Group delivered a year of strong, investment-led growth.

B M H Scaffolding Limited is a scaffolding contractor based in central England that has achieved significant growth through entry into new market sectors. The business regularly secures work in association with the principal construction companies operating in the United Kingdom, on contracts of up to £3.2m in value spanning multiple years, across a diverse portfolio within the construction, care and education, refurbishment and housing sectors.

During the year the business pursued a strategy of controlled growth, won through securing new clients within the housing and commercial sectors and being awarded larger construction projects than in previous years. In support of this growth, and consistent with its stated objective of reducing reliance on hired equipment, the business invested heavily in its own fixed assets - principally scaffolding equipment and fleet - to meet rising demand and to build a foundation for improved profitability in future years.

Management adapted swiftly to changing circumstances and maintained rigorous health and safety standards to protect employees. The Group remained operational and profitable throughout, supported by a clear strategic plan, close working between the management team, and continued, close communication with clients and suppliers to ensure minimal disruption to delivery.

FINANCIAL PERFORMANCE

Key Performance Indicators:

2025

2024

Turnover

£10.2m

£8.7m

Profit / (loss) before tax

£656k

£747k

Turnover growth

17.4%

(49.4%)

Gross profit margin

31.5%

33.1%

Profit before tax margin

6.4%

8.6%

Return on capital employed

15.6%

21.7%

The Group delivered strong top-line growth in the year. Turnover rose 17.4% to £10.2m (2024: £8.7m), the highest level achieved by the Group since its reorganisation in 2023 and a clear demonstration of the success of the

controlled-growth strategy.

The prior-year turnover-growth comparative reflects the impact of the 2023 restructuring and is not representative of

underlying trading. Gross profit increased 11.6% to £3.2m (2024: £2.9m), at a gross margin of 31.5% (2024: 33.1%), the modest movement in margin reflecting the continued use of hired plant during the transition to an owned asset base and inflationary pressure on input costs.

Profit before tax was £0.65m (2024: £0.75m). The Group regards this as a resilient result delivered during a deliberate, intensive period of capital investment. The reduction relative to the prior year is principally attributable to:

- a £0.14m increase in depreciation, to £0.59m (2024: £0.45m), as the Group's significantly enlarged owned asset base came into service; and

- the continued cost of hired scaffolding (£1.20m; 2024: £1.02m) carried during the transition toward owned equipment, together with higher administrative and finance costs associated with supporting a larger operational base.

Importantly, these are the costs of growth and reinvestment rather than any weakening in the underlying business, and the Group expects the benefit of its investment to be reflected in improved margins as reliance on hired equipment reduces.

Cash generation remained robust, with cash generated from operations rising 25% to £1.65m (2024: £1.32m) and net cash from operating activities of £1.49m (2024: £1.26m). Net assets strengthened to £2.67m (2024: £2.46m). Interest receivable increased to £74,151 (2024: £65,884).

Return on capital employed of 15.6% (2024: 21.7%) reflects the substantially larger capital base now deployed in the

business following the year's investment programme; the director expects returns to build as the new assets are fully

utilised.

Investment in the asset base

The defining feature of the year was the Group's major investment in its operational asset base. Additions to tangible

fixed assets rose to £2.01m (2024: £1.09m), and the net book value of tangible fixed assets grew by 59% to £4.05m

(2024: £2.55m). Within this, the owned plant and machinery (principally scaffolding equipment) increased to a net book value of £3.69m (2024: £2.08m).

This programme, financed substantially through asset-backed hire purchase, directly advances the Group's strategy of reducing its scaffolding hire bill, securing greater control over its equipment, and improving profitability over the medium term. The Group also continued to hold investment property of £0.58m, which generates a steady rental income stream.

As would be expected during a year of this scale of investment, cash at bank reduced to £0.20m (2024: £0.37m) and the Group reported net current liabilities of £1.01m (2024: £0.38m), reflecting the asset-backed financing of the capital programme and the phasing of intra-group balances. The director monitors working capital and liquidity closely. Supported by the Group's strong operating cash generation.

PRINCIPAL RISKS AND UNCERTAINTIES

Cashflow and liquidity

Maintaining sufficient liquidity is central to the business, particularly during a period of significant capital investment. The Group manages this risk through ongoing monitoring of liquidity, refined procurement procedures with key performance indicators on supplier credit terms, and investment in systems to support the back office. A specific objective for B M H Scaffolding Limited is to reduce its scaffolding hire bill in order to increase its owned fixed assets and improve profitability. Capital expenditure and borrowing are restricted to essential purposes only.

Inflationary and input-cost pressure

As contract costs are central to profitability, movements in the rate of inflation remain a key risk. The Group mitigates this by avoiding fixed-price commitments likely to result in losses, recognising losses on contracts as soon as they are foreseen, and through the work of an experienced centralised procurement team that regularly assesses costs across the business.

Project management

The Group maintains strong controls over project spending, supported by improved real-time commercial reporting that enables management to respond quickly to issues on live projects. A group-wide ethos incentivises employees to control project costs and to challenge non-essential spend.

Organisational and people risk

The Group maintains standards that exceed the requirements of United Kingdom law and holds a range of accreditations, and it requires the same of its suppliers. Reward structures are linked to the performance of the Group, the business structure is reviewed regularly, and incentives are in place to retain key personnel.

GROWTH AND EXPANSION

B M H Scaffolding Limited increased both its turnover and its asset base during the year, following significant, carefully tracked investment in fixed assets.

Growth has been managed to remain sustainable and controlled, with the business's ability to deliver high-quality work to programme proving central to winning new contracts. The Group has further strengthened its position as a trusted supplier within the construction industry.

Consistent with its prudent approach, B M H Scaffolding Limited has forecast a period of consolidation, with no further significant growth planned in the near term in order to allow the return on its current investments to be realised before any further expansion is undertaken.

The Group also continued to invest in a streamlined and efficient management structure; the strengthened management team brings diverse expertise and experience, contributing to improved operational efficiency, enhanced customer service and effective resource allocation, and positioning the Group for long-term success.

FUTURE OUTLOOK

Looking ahead, the Group is well positioned for continued success. It will leverage its strong market presence, skilled workforce and newly enlarged asset base to capture new opportunities, while continuing to assess its portfolio to ensure that only positive, well-priced projects are taken on.

Strategic focus will remain on sustainable growth, innovation and customer-centricity. With a materially expanded owned fleet now in service and a deliberate period of consolidation ahead to realise the return on that investment, the director views the outlook for the Group with confidence.

RESEARCH AND DEVELOPMENT

The Group continued to invest in research and development during the year. B M H Scaffolding Limited progressed development of a bespoke in-house application that enables efficient and accurate record keeping using real-time information - a long-term, continually evolving project, with its own coding written in-house, that has been well received by internal users and clients alike.

The business also advanced research into a new scaffolding tool designed to allow more efficient erection of system scaffolding; a prototype has been developed, trialled, and is now under review for further adaptation.

ENGAGEMENT WITH STAKEHOLDERS

The director recognises that the long-term success of the Group depends on maintaining strong relationships with its key stakeholders. Close and regular communication is maintained with clients and supply-chain partners to ensure minimal disruption to delivery; employees are supported through training, development and performance-linked reward; and the Group works constructively with its funders and advisers to maintain a prudent, asset-backed capital structure. The Board considers the likely long-term consequences of its decisions, including the impact of the Group's operations on the wider community and environment, in the conduct of the business.

ON BEHALF OF THE BOARD:

Mr C P Watson - Director

25th June 2026

The director presents his report with the financial statements of the company and the group for the year ended 30th September 2025.

DIVIDENDS

The total distribution of dividends for the year ended 30th September 2025 amounted to £184,638 (2024: £201,000).

DIRECTOR

Mr C P Watson held office during the whole of the period from 1st October 2024 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

Items required under Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports Regulations) 2008 to be disclosed in the Report of the Directors are set out in the Strategic Report in accordance with section 414C(11) of the Companies Act 2006.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he 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 group's auditors are aware of that information.

AUDITORS

The auditors, Shaw Gibbs (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr C P Watson - Director

25th June 2026

Opinion

We have audited the financial statements of BMH Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30th September 2025 and of the group's profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our audit planning procedures we identify the significant laws and regulations applicable to the group based upon our knowledge of the group, the industry in which it operates and from making enquiries with management. We consider those laws and regulations where non-compliance may have a material effect on the financial statements and those which have a direct impact on the financial statements. We identified that the most significant laws and regulations applicable during the year were compliance with the requirements of the Companies Act 2006, compliance with Health and Safety Regulations, ISO certification and compliance via ISOcomply.

Audit procedures performed by the engagement team in relation to laws and regulations include making enquiries of management as to any known or suspected instances of non-compliance, maintaining awareness throughout the course of the audit as to any indications of instances of non-compliance, reviewing legal and professional invoices and undertaking a review of the disclosures in the financial statements to supporting information and to disclosure checklists.

We also consider areas that are at a higher risk of causing material misstatement in the financial statements due to irregularities, including those resulting from fraud and how such fraud may occur. We discuss with senior management the key controls in place to mitigate the risk of fraud and enquire as to whether they are aware of, or suspect, any fraudulent activities having taken place.

Throughout the audit, we maintain an appropriate level of professional scepticism when provided with information and explanations. We consider the appropriateness of significant accounting journals that were processed during the year, assess the reasonableness of any significant accounting estimates and consider whether there were any indications of bias by management during the year that represents a risk of material misstatement due to fraud. We also carry out analytical procedures to identify any unusual or unexpected variances to expectations as these may be an indication of management over-ride or management bias.

As group auditors we are required to communicate with component auditors to request identification of any instances of non-compliance with laws and regulations that could give rise to a material misstatement of the group financial statements. The engagement partner considers that the engagement team collectively has the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Graham Taylor (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

25th June 2026

TURNOVER

10,193,576

8,681,836

Cost of sales

6,983,725

5,805,805

GROSS PROFIT

3,209,851

2,876,031

Administrative expenses

2,638,145

2,230,110

571,706

645,921

Other operating income

75,026

85,274

OPERATING PROFIT

5

646,732

731,195

Income from fixed asset investments

-

1,529

Interest receivable and similar income

74,151

65,884

74,151

67,413

720,883

798,608

Interest payable and similar expenses

6

65,019

51,679

PROFIT BEFORE TAXATION

655,864

746,929

Tax on profit

7

195,794

219,945

PROFIT FOR THE FINANCIAL YEAR

460,070

526,984

Profit attributable to:

Owners of the parent

381,139

410,549

Non-controlling interests

78,931

116,435

460,070

526,984

PROFIT FOR THE YEAR

460,070

526,984

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

460,070

526,984

Total comprehensive income attributable to:

Owners of the parent

381,139

410,549

Non-controlling interests

78,931

116,435

460,070

526,984

FIXED ASSETS

Intangible assets

10

519,388

616,609

Tangible assets

11

4,049,850

2,549,303

Investments

12

-

-

Investment property

13

577,254

576,904

5,146,492

3,742,816

CURRENT ASSETS

Debtors

14

4,495,907

4,084,245

Cash at bank and in hand

196,167

367,986

4,692,074

4,452,231

CREDITORS

Amounts falling due within one year

15

5,702,134

4,836,925

NET CURRENT LIABILITIES

(1,010,060

)

(384,694

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,136,432

3,358,122

CREDITORS

Amounts falling due after more than one year

16

(747,247

)

(289,576

)

PROVISIONS FOR LIABILITIES

20

(721,937

)

(607,755

)

NET ASSETS

2,667,248

2,460,791

CAPITAL AND RESERVES

Called up share capital

21

92

92

Revaluation reserve

22

60,990

60,990

Capital redemption reserve

22

11

11

Share-based payments

22

644

1,187

Other reserves

22

407,240

407,240

Retained earnings

22

1,972,132

1,781,972

2,441,109

2,251,492

NON-CONTROLLING INTERESTS

226,139

209,299

TOTAL EQUITY

2,667,248

2,460,791

The financial statements were approved by the director and authorised for issue on 25th June 2026 and were signed by:

Mr C P Watson - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

140,664

182,901

Investments

12

1,136,911

1,136,911

Investment property

13

577,254

576,904

1,854,829

1,896,716

CURRENT ASSETS

Debtors

14

2,648,010

2,362,179

Cash at bank

42,910

248,430

2,690,920

2,610,609

CREDITORS

Amounts falling due within one year

15

2,129,566

2,312,832

NET CURRENT ASSETS

561,354

297,777

TOTAL ASSETS LESS CURRENT LIABILITIES

2,416,183

2,194,493

PROVISIONS FOR LIABILITIES

20

38,230

40,751

NET ASSETS

2,377,953

2,153,742

CAPITAL AND RESERVES

Called up share capital

21

92

92

Revaluation reserve

22

60,990

60,990

Capital redemption reserve

22

11

11

Retained earnings

22

2,316,860

2,092,649

2,377,953

2,153,742

Company's profit for the financial year

408,849

844,959

The financial statements were approved by the director and authorised for issue on 25th June 2026 and were signed by:

Mr C P Watson - Director

Called up

Capital

share

Retained

Revaluation

redemption

capital

earnings

reserve

reserve

£

£

£

£

Balance at 1st October 2023

92

1,644,952

-

11

Changes in equity

Dividends

-

(201,000

)

-

-

Total comprehensive income

-

410,549

-

-

Changes in ownership interests in subsidiaries

-

(11,539

)

-

-

Transfer

-

(60,990

)

60,990

-

Balance at 30th September 2024

92

1,781,972

60,990

11

Changes in equity

Dividends

-

(184,638

)

-

-

Total comprehensive income

-

381,139

-

-

Changes in ownership interests in subsidiaries

-

(6,341

)

-

-

Balance at 30th September 2025

92

1,972,132

60,990

11

Share-based

Other

Non-controlling

Total

payments

reserves

Total

interests

equity

£

£

£

£

£

Balance at 1st October 2023

-

-

1,645,055

2

1,645,057

Changes in equity

Dividends

-

-

(201,000

)

(130,887

)

(331,887

)

Total comprehensive income

-

-

410,549

116,435

526,984

Changes in ownership interests in subsidiaries

-

-

(11,539

)

223,749

212,210

Equity settled share-based payments

1,187

-

1,187

-

1,187

Consideration received in excess of non-controlling interest increase

-

407,240

407,240

-

407,240

Balance at 30th September 2024

1,187

407,240

2,251,492

209,299

2,460,791

Changes in equity

Dividends

-

-

(184,638

)

(68,432

)

(253,070

)

Total comprehensive income

-

-

381,139

78,931

460,070

Changes in ownership interests in subsidiaries

-

-

(6,341

)

6,341

-

Equity settled share-based payments

(543

)

-

(543

)

-

(543

)

Balance at 30th September 2025

644

407,240

2,441,109

226,139

2,667,248

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1st October 2023

92

1,509,680

-

11

1,509,783

Changes in equity

Dividends

-

(201,000

)

-

-

(201,000

)

Total comprehensive income

-

844,959

-

-

844,959

Transfer

-

(60,990

)

60,990

-

-

Balance at 30th September 2024

92

2,092,649

60,990

11

2,153,742

Changes in equity

Dividends

-

(184,638

)

-

-

(184,638

)

Total comprehensive income

-

408,849

-

-

408,849

Balance at 30th September 2025

92

2,316,860

60,990

11

2,377,953

Cash flows from operating activities

Cash generated from operations

1

1,645,244

1,316,396

Interest paid

(21,623

)

(6,277

)

Interest element of hire purchase payments paid

(61,496

)

(45,402

)

Tax paid

(67,536

)

(1

)

Net cash from operating activities

1,494,589

1,264,716

Cash flows from investing activities

Purchase of tangible fixed assets

(2,008,869

)

(1,086,989

)

Purchase of fixed asset investments

-

(28,082

)

Purchase of investment property

(350

)

(49,179

)

Sale of tangible fixed assets

18,000

61,724

Sale of fixed asset investments

51,472

288,789

Interest received

74,151

65,884

Dividends received

-

1,529

Net cash from investing activities

(1,865,596

)

(746,324

)

Cash flows from financing activities

New loans in year

-

756,196

Loan repayments in year

(530,898

)

328,228

Capital repayments net of finance raised

1,021,838

(946,947

)

Amount withdrawn by directors

(38,682

)

(298,418

)

Equity dividends paid

(184,638

)

(201,000

)

Dividends paid to minority interests

(68,432

)

(130,887

)

Net cash from financing activities

199,188

(492,828

)

(Decrease)/increase in cash and cash equivalents

(171,819

)

25,564

Cash and cash equivalents at beginning of year

2

367,986

342,422

Cash and cash equivalents at end of year

2

196,167

367,986