Company registration number SC425653 (Scotland)
TECOZAM UNITED KINGDOM LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
TECOZAM UNITED KINGDOM LIMITED
COMPANY INFORMATION
Directors
C Gomez Rojo
I J Gomez Rojo
R Gomez Rojo
Secretary
MFMAC Secretaries Limited
Company number
SC425653
Registered office
Level 5
9 Haymarket Square
Edinburgh
United Kingdom
EH3 8RY
Auditor
Azets Audit Services
Quay 2
139 Fountainbridge
Edinburgh
EH3 9QG
Bankers
The Royal Bank of Scotland Plc
36 St Andrew Square
Edinburgh
United Kingdom
EH2 2AD
Solicitors
Morton Fraser MacRoberts LLP
Level 5
9 Haymarket Square
Edinburgh
United Kingdom
EH3 8RY
TECOZAM UNITED KINGDOM LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 19
TECOZAM UNITED KINGDOM LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

This year the company reported a profit before tax of £4,318,004 (2024 - £7,494,940) and its net assets were £7,194,395 (2024 - £4,256,902).

Principal risks and uncertainties

The principal risks and uncertainties come from new legislation in place after Brexit and any future legislation representing new barriers against foreign companies doing business in the UK, posting employees, importing equipment from overseas, etc.

Development and performance

Company policies (H&S, Quality, Environmental, Anti-Slavery, Anti-tax evasion, etc.) will be reviewed and approved by the end of July 202 6.

Key performance indicators

The company's key performance indicators are:

2025 2024

Turnover £14,413,173 £31,683,849

Gross Profit % 34.8% 29.1%

Staff numbers 65 141

Net profit before tax £4,318,004 £7,494,940

Targets and objectives

Our main target is to continue our construction activities in the HS2 project during 2026 and 2027. We are commercially active in order to win new projects to be started during 2026.

On behalf of the board

I J Gomez Rojo
Director
29 June 2026
TECOZAM UNITED KINGDOM LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of civil engineering and construction.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £300,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

C Gomez Rojo
I J Gomez Rojo
R Gomez Rojo
Statement of directors' responsibilities

The directors are responsible for preparing the annual 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 of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

TECOZAM UNITED KINGDOM LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
On behalf of the board
I J Gomez Rojo
Director
29 June 2026
TECOZAM UNITED KINGDOM LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECOZAM UNITED KINGDOM LIMITED
- 4 -
Opinion

We have audited the financial statements of Tecozam United Kingdom Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its 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 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 contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport 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.

TECOZAM UNITED KINGDOM LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECOZAM UNITED KINGDOM LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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' r esponsibilities s tatement, 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.

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.

TECOZAM UNITED KINGDOM LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECOZAM UNITED KINGDOM LIMITED (CONTINUED)
- 6 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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.

Jennifer Spence (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
Quay 2
139 Fountainbridge
Edinburgh
EH3 9QG
29 June 2026
TECOZAM UNITED KINGDOM LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
14,413,173
31,683,849
Cost of sales
(9,394,270)
(22,438,291)
Gross profit
5,018,903
9,245,558
Administrative expenses
(997,938)
(1,855,094)
Other operating income
-
0
32,805
Operating profit
4
4,020,965
7,423,269
Interest receivable and similar income
7
334,995
72,436
Interest payable and similar expenses
8
(37,956)
(765)
Profit before taxation
4,318,004
7,494,940
Tax on profit
9
(1,080,511)
(1,863,249)
Profit for the financial year
3,237,493
5,631,691
Retained earnings brought forward
4,256,901
(1,374,790)
Dividends
10
(300,000)
-
0
Retained earnings carried forward
7,194,394
4,256,901
TECOZAM UNITED KINGDOM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
6,981
15,930
Current assets
Debtors
12
3,312,390
1,490,614
Cash at bank and in hand
7,230,130
12,555,406
10,542,520
14,046,020
Creditors: amounts falling due within one year
13
(3,353,361)
(9,801,897)
Net current assets
7,189,159
4,244,123
Total assets less current liabilities
7,196,140
4,260,053
Provisions for liabilities
Deferred tax liability
14
1,745
3,151
(1,745)
(3,151)
Net assets
7,194,395
4,256,902
Capital and reserves
Called up share capital
16
1
1
Profit and loss reserves
7,194,394
4,256,901
Total equity
7,194,395
4,256,902

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 29 June 2026 and are signed on its behalf by:
I J Gomez Rojo
Director
Company registration number SC425653 (Scotland)
TECOZAM UNITED KINGDOM LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
19
(3,777,772)
7,132,157
Interest paid
(37,956)
(765)
Income taxes paid
(1,544,543)
(1,017,958)
Net cash (outflow)/inflow from operating activities
(5,360,271)
6,113,434
Investing activities
Interest received
334,995
72,436
Net cash generated from investing activities
334,995
72,436
Financing activities
Dividends paid
(300,000)
-
0
Net cash used in financing activities
(300,000)
-
Net (decrease)/increase in cash and cash equivalents
(5,325,276)
6,185,870
Cash and cash equivalents at beginning of year
12,555,406
6,369,536
Cash and cash equivalents at end of year
7,230,130
12,555,406
TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
1
Accounting policies
Company information

Tecozam United Kingdom Limited is a private company limited by shares incorporated in Scotland. The registered office is Level 5, 9 Haymarket Square, Edinburgh, United Kingdom, EH3 8RY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

This year the company experienced a significant drop in turnover which was as expected and in line with the stage of progress on some major contracts. Steps have been taken in response to this to cut costs and ensure that the company remains profitable.

The directors have assessed a period of 12 months from the date of approval of the financial statements and consider that no material uncertainties exist that cast doubt about the ability of the company to continue as a going concern. The directors have adopted the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Accounting for construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 11 -

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Construction contracts

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
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.

In the opinion of the directors the key source of estimation uncertainty which would have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities is the stage of completion and recognition of revenue on long term contracts.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Construction
14,413,173
31,683,849
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
14,413,173
31,683,849
2025
2024
£
£
Other revenue
Interest income
334,995
72,436
Other income
-
32,805
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
11,862
(20,741)
Depreciation of owned tangible fixed assets
8,949
12,409
Operating lease charges
340,503
712,941
TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
26,250
25,000
For other services
Taxation compliance services
3,215
3,150
All other non-audit services
34,165
32,223
37,380
35,373
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
65
141

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,120,970
6,257,039
Social security costs
396,861
711,321
Pension costs
31,618
106,177
3,549,449
7,074,537

The directors did not receive remuneration from the company.

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
93,478
54,478
Interest receivable from group companies
241,517
-
0
Other interest income
-
0
17,958
Total income
334,995
72,436
TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
37,956
765
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
1,081,917
1,860,098
Deferred tax
Origination and reversal of timing differences
(1,406)
3,151
Total tax charge
1,080,511
1,863,249
2025
2024
£
£
Profit before taxation
4,318,004
7,494,940
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
1,079,501
1,873,735
Tax effect of expenses that are not deductible in determining taxable profit
1,010
1,567
Change in unrecognised deferred tax assets
-
0
(12,053)
Taxation charge for the year
1,080,511
1,863,249

Factors affecting tax charge for the year

The tax charge for the period has been calculated on the taxable profits at the standard rate of corporation tax in the UK of 25%.

10
Dividends
2025
2024
£
£
Final paid
300,000
-
0
TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
11
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 January 2025 and 31 December 2025
41,388
18,430
59,818
Depreciation and impairment
At 1 January 2025
26,136
17,752
43,888
Depreciation charged in the year
8,497
452
8,949
At 31 December 2025
34,633
18,204
52,837
Carrying amount
At 31 December 2025
6,755
226
6,981
At 31 December 2024
15,252
678
15,930
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
237,036
79,711
Amounts owed by group undertakings
2,936,201
193,629
Other debtors
39,978
44,241
Prepayments and accrued income
99,175
1,173,033
3,312,390
1,490,614
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
15,358
220,667
Amounts owed to group undertakings
389,810
2,361,365
Corporation tax
191,918
654,544
Other taxation and social security
38,691
126,238
Payments on account in respect of contracts
1,780,794
6,341,959
Other creditors
6,152
10,349
Accruals and deferred income
930,638
86,775
3,353,361
9,801,897
TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
1,745
3,983
Short term timing differences
-
(832)
1,745
3,151
2025
Movements in the year:
£
Liability at 1 January 2025
3,151
Credit to profit or loss
(1,406)
Liability at 31 December 2025
1,745
15
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
31,618
106,177

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

16
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
17
Operating lease commitments
As lessee
TECOZAM UNITED KINGDOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17
Operating lease commitments
(Continued)
- 19 -

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
54,156
24,007
Years 2-5
1,885
-
0
56,041
24,007
18
Ultimate controlling party

The company is a member of a group. The parent of the smallest group which prepares consolidated financial statements of which the company is a member is Tecozam Grupo Empresarial SL, a company registered in Spain. The company's registered office is Calle Peru, No 8, Planta 2a, Oficine 53, 28290, Madrid, Spain.

There is no controlling party.

19
Cash (absorbed by)/generated from operations
2025
2024
£
£
Profit after taxation
3,237,493
5,631,691
Adjustments for:
Taxation charged
1,080,511
1,863,249
Finance costs
37,956
765
Investment income
(334,995)
(72,436)
Depreciation and impairment of tangible fixed assets
8,949
12,409
Movements in working capital:
(Increase)/decrease in debtors
(1,821,776)
4,937,599
Decrease in creditors
(1,424,745)
(3,930,787)
Decrease in deferred income
(4,561,165)
(1,310,333)
Cash (absorbed by)/generated from operations
(3,777,772)
7,132,157
20
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
12,555,406
(5,325,276)
7,230,130
2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2026.100 C Gomez Rojo I J Gomez Rojo R Gomez Rojo MFMAC Secretaries Limited SC425653 2025-01-01 2025-12-31 SC425653 bus:Director1 2025-01-01 2025-12-31 SC425653 bus:Director2 2025-01-01 2025-12-31 SC425653 bus:Director3 2025-01-01 2025-12-31 SC425653 bus:CompanySecretary1 2025-01-01 2025-12-31 SC425653 bus:RegisteredOffice 2025-01-01 2025-12-31 SC425653 bus:Agent1 2025-01-01 2025-12-31 SC425653 2025-12-31 SC425653 2024-01-01 2024-12-31 SC425653 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC425653 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC425653 core:ShareCapital 2025-12-31 SC425653 core:ShareCapital 2024-12-31 SC425653 core:RetainedEarningsAccumulatedLosses 2025-12-31 SC425653 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC425653 2024-12-31 SC425653 core:ShareCapitalOrdinaryShareClass1 2025-12-31 SC425653 core:ShareCapitalOrdinaryShareClass1 2024-12-31 SC425653 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 SC425653 core:PlantMachinery 2025-12-31 SC425653 core:ComputerEquipment 2025-12-31 SC425653 core:PlantMachinery 2024-12-31 SC425653 core:ComputerEquipment 2024-12-31 SC425653 core:WithinOneYear 2025-12-31 SC425653 core:WithinOneYear 2024-12-31 SC425653 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 SC425653 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 SC425653 2024-12-31 SC425653 2023-12-31 SC425653 core:PlantMachinery 2025-01-01 2025-12-31 SC425653 core:ComputerEquipment 2025-01-01 2025-12-31 SC425653 1 2025-01-01 2025-12-31 SC425653 1 2024-01-01 2024-12-31 SC425653 core:UKTax 2025-01-01 2025-12-31 SC425653 core:UKTax 2024-01-01 2024-12-31 SC425653 core:PlantMachinery 2024-12-31 SC425653 core:ComputerEquipment 2024-12-31 SC425653 core:CurrentFinancialInstruments 2025-12-31 SC425653 core:CurrentFinancialInstruments 2024-12-31 SC425653 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 SC425653 bus:OrdinaryShareClass1 2025-12-31 SC425653 bus:OrdinaryShareClass1 2024-12-31 SC425653 core:BetweenTwoFiveYears 2025-12-31 SC425653 core:BetweenTwoFiveYears 2024-12-31 SC425653 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 SC425653 bus:FRS102 2025-01-01 2025-12-31 SC425653 bus:Audited 2025-01-01 2025-12-31 SC425653 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP