Company Registration No. 02951763 (England and Wales)
WOODS BUILDING SERVICES LIMITED
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
WOODS BUILDING SERVICES LIMITED
COMPANY INFORMATION
Directors
Mr D Petri
Mrs T Petri
Mr D Pienaar
Mr B Crawley
Mr L Mulvey
Secretary
Mrs T Petri
Company number
02951763
Registered office
Woods House
River Way
Harlow
Essex
CM20 2DP
Auditor
Maynard Heady LLP
Matrix House
12-16 Lionel Road
Canvey Island
Essex
SS8 9DE
Business address
Woods House
River Way
Harlow
Essex
CM20 2DP
WOODS BUILDING SERVICES LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 23
WOODS BUILDING SERVICES 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

The principal activity of the company continues to be asbestos removal & general construction.

The directors aim to present a report that is fair, balanced and understandable and should provide the information

necessary for stakeholders to assess the entity’s performance, business model and strategy.

AA Woods was originally formed in 1994 to provide high quality asbestos remediation services across the South East of England.

Today AA Woods operates in a broad range of market sectors on a national scale providing solutions to some of the most challenging projects within our industry delivering asbestos and other hazardous waste management services across three offices located in Harlow (HQ), Bristol and St. Helens with depots in Reading and Milton Keynes.

Woods are a customer focused organisation that consistently delivers high levels of customer satisfaction. This is due to the professional and highly trained personnel they employ that interact with our clients on a daily basis. They believe our greatest asset is our people and we are committed to investing in and developing our workforce. They encourage individuals to challenge belief in their own ability and these core values remain at the heart of our business ethos.

The management team at Woods are committed to providing the highest possible standards of quality in all aspects of its asbestos removal service exceeding current legislation and following a concept of continuous improvement. They continue to grow the business, improve profitability and meet its financial and operational objectives.

Principal risks and uncertainties

The principal risks and uncertainties faced by the company would be as follows;

There are no known material risks or uncertainties pertaining to the company. The company does hold a company risk register that is reviewed by the board monthly.

Financial Review

The results for the year are shown in page 8 of the accounts.

Key performance indicators

There are three key performance indicators that highlight the companies result for the year:

202 5 202 4

Turnover £10.79 m £9.32 m

Gross profit margin 27.2% 28.7%

Net profit margin 5.0% 4.7%

On behalf of the board

Mrs T Petri
Director
2 July 2026
WOODS BUILDING SERVICES 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.

Results and dividends

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

Ordinary dividends were paid amounting to £414,905. 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:

Mr D Petri
Mrs T Petri
Mr D Pienaar
Mr R Beale
(Resigned 3 July 2025)
Mr B Crawley
Mr L Mulvey
Auditor

In accordance with the company's articles, a resolution proposing that Maynard Heady LLP be reappointed as auditor of the company will be put at a General Meeting.

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.

On behalf of the board
Mrs T Petri
Director
2 July 2026
WOODS BUILDING SERVICES LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

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.

WOODS BUILDING SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WOODS BUILDING SERVICES LIMITED
- 4 -
Opinion

We have audited the financial statements of Woods Building Services Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, 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.

WOODS BUILDING SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WOODS BUILDING SERVICES 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.

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.

- Enquiry of management, those charged with governance around actual and potential litigation and claims.

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

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

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities including those leading to material misstatements in the financial statements or non-compliance with laws and regulations. This risk increases the more that compliance with a law and 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 representation.

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.

WOODS BUILDING SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WOODS BUILDING SERVICES LIMITED (CONTINUED)
- 6 -

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.

Daniel Keys ACA (Senior Statutory Auditor)
For and on behalf of Maynard Heady LLP, Statutory Auditor
Chartered Accountants
Matrix House
12-16 Lionel Road
Canvey Island
Essex
SS8 9DE
2 July 2026
WOODS BUILDING SERVICES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
10,793,291
9,315,504
Cost of sales
(7,861,454)
(6,642,163)
Gross profit
2,931,837
2,673,341
Administrative expenses
(2,349,639)
(2,177,319)
Operating profit
4
582,198
496,022
Interest receivable and similar income
545
1,067
Interest payable and similar expenses
7
(44,807)
(62,395)
Fair value gain/(loss) of investments
8
-
(179)
Profit before taxation
537,936
434,515
Tax on profit
9
(149,967)
(120,180)
Profit for the financial year
387,969
314,335

The profit and loss account has been prepared on the basis that all operations are continuing operations.

WOODS BUILDING SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
£
£
Profit for the year
387,969
314,335
Other comprehensive income
-
-
Total comprehensive income for the year
387,969
314,335
WOODS BUILDING SERVICES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
287,308
307,879
Current assets
Stocks
12
363,262
379,230
Debtors falling due after more than one year
13
3,264,435
3,264,435
Debtors falling due within one year
13
1,439,235
1,463,643
Cash at bank and in hand
404,314
497,014
5,471,246
5,604,322
Creditors: amounts falling due within one year
14
(2,144,733)
(2,204,679)
Net current assets
3,326,513
3,399,643
Total assets less current liabilities
3,613,821
3,707,522
Creditors: amounts falling due after more than one year
16
(19,645)
(86,444)
Provisions for liabilities
Deferred tax liability
18
41,700
41,666
(41,700)
(41,666)
Net assets
3,552,476
3,579,412
Capital and reserves
Called up share capital
20
1,000
1,000
Profit and loss reserves
3,551,476
3,578,412
Total equity
3,552,476
3,579,412

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 2 July 2026 and are signed on its behalf by:
Mrs T Petri
Director
Company registration number 02951763 (England and Wales)
WOODS BUILDING SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
1,000
4,348,728
4,349,728
Year ended 31 December 2024:
Profit and total comprehensive income
-
314,335
314,335
Dividends
10
-
(1,084,651)
(1,084,651)
Balance at 31 December 2024
1,000
3,578,412
3,579,412
Year ended 31 December 2025:
Profit and total comprehensive income
-
387,969
387,969
Dividends
10
-
(414,905)
(414,905)
Balance at 31 December 2025
1,000
3,551,476
3,552,476
WOODS BUILDING SERVICES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
774,223
1,855,867
Interest paid
(44,807)
(62,395)
Income taxes paid
(133,402)
(341,010)
Net cash inflow from operating activities
596,014
1,452,462
Investing activities
Purchase of tangible fixed assets
(65,781)
(42,190)
Proceeds on disposal of tangible fixed assets
834
933
Interest received
545
1,067
Net cash used in investing activities
(64,402)
(40,190)
Financing activities
Repayment of bank loans
(200,000)
(401,970)
Increase/(decrease) of finance leases obligations
(9,407)
(14,079)
Dividends paid
(414,905)
(1,084,651)
Net cash used in financing activities
(624,312)
(1,500,700)
Net decrease in cash and cash equivalents
(92,700)
(88,428)
Cash and cash equivalents at beginning of year
497,014
585,442
Cash and cash equivalents at end of year
404,314
497,014
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
1
Accounting policies
Company information

Woods Building Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Woods House, River Way, Harlow, Essex, CM20 2DP.

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

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt 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 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.

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:

Land and buildings leasehold
Straight line over the life of the lease
Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
15% Reducing balance
Motor vehicles
25% Reducing balance

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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

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.

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.

WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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.

WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

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
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.11
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 taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.13
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.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
United Kingdom
10,793,291
9,315,504
2025
2024
£
£
Other revenue
Interest income
545
1,067
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
16,000
17,500
Depreciation of tangible fixed assets
73,202
85,449
Loss on disposal of tangible fixed assets
12,316
19,731
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
5
Employees

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

2025
2024
Number
Number
Monthly
20
20
Weekly
61
54
Total
81
74

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,832,874
3,394,558
Social security costs
390,614
282,356
Pension costs
182,703
69,179
4,406,191
3,746,093
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
556,671
499,572
Company pension contributions to defined contribution schemes
17,493
10,951
574,164
510,523

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (2024 - 4).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
171,173
113,771
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost
Interest on bank overdrafts and loans
30,672
46,680
Other finance costs
Interest on finance leases and hire purchase contracts
2,601
3,323
Other interest
11,534
12,392
44,807
62,395
8
Fair value gain/(loss) of investments
2025
2024
£
£
Other gains and losses
-
(179)
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
149,932
133,401
Deferred tax
Origination and reversal of timing differences
35
(13,221)
Total tax charge
149,967
120,180

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
537,936
434,515
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
134,484
108,629
Tax effect of expenses that are not deductible in determining taxable profit
34,267
16,599
Permanent capital allowances in excess of depreciation
(18,819)
8,173
Deferred tax
35
(13,221)
Taxation charge for the year
149,967
120,180
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
10
Dividends
2025
2024
£
£
Final paid
414,905
1,084,651
11
Tangible fixed assets
Land and buildings leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
137,029
777,506
294,750
112,077
1,321,362
Additions
-
0
48,696
17,085
-
0
65,781
Disposals
-
0
(86,932)
(34,287)
(25,687)
(146,906)
At 31 December 2025
137,029
739,270
277,548
86,390
1,240,237
Depreciation and impairment
At 1 January 2025
137,029
632,022
195,812
48,620
1,013,483
Depreciation charged in the year
-
0
41,515
16,500
15,187
73,202
Eliminated in respect of disposals
-
0
(82,767)
(29,027)
(21,962)
(133,756)
At 31 December 2025
137,029
590,770
183,285
41,845
952,929
Carrying amount
At 31 December 2025
-
0
148,500
94,263
44,545
287,308
At 31 December 2024
-
0
145,484
98,938
63,457
307,879
12
Stocks
2025
2024
£
£
Stocks
363,262
379,230
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,213,055
1,262,233
Other debtors
17,111
16,888
Prepayments and accrued income
209,069
184,522
1,439,235
1,463,643
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
13
Debtors
(Continued)
- 20 -
2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
3,264,435
3,264,435
Total debtors
4,703,670
4,728,078
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
15
56,667
200,000
Obligations under finance leases
17
10,132
9,407
Trade creditors
1,283,709
1,304,798
Corporation tax
149,932
133,401
Other taxation and social security
381,344
358,041
Other creditors
39,292
52,640
Accruals and deferred income
223,657
146,392
2,144,733
2,204,679

15
Loans and overdrafts
2025
2024
£
£
Bank loans
56,667
256,667
Payable within one year
56,667
200,000
Payable after one year
-
0
56,667
16
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans
15
-
0
56,667
Obligations under finance leases
17
19,645
29,777
19,645
86,444

The bank loans are secured by a fixed and floating charge over the assets of the company, total securities amounted to £86,444 (2024 : £295,851).

WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
17
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
10,132
9,407
In two to five years
19,645
29,777
29,777
39,184
18
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
ACAs
41,700
41,666
2025
Movements in the year:
£
Liability at 1 January 2025
41,666
Charge to profit or loss
34
Liability at 31 December 2025
41,700
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
182,703
69,179

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.

20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
21
Operating lease commitments

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 one year
200,318
222,237
Between two and five years
180,076
119,916
In over five years
-
0
60,000
380,394
402,153
22
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
3,264,435
3,264,435
23
Ultimate controlling party

The ultimate parent company is AA Woods EOT Trustees Limited, a company incorporated in England and Wales.

24
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
497,014
(92,700)
404,314
Borrowings excluding overdrafts
(256,667)
200,000
(56,667)
Lease liabilities
(39,184)
9,407
(29,777)
201,163
116,707
317,870
WOODS BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
25
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
387,969
314,335
Adjustments for:
Taxation charged
149,967
120,180
Finance costs
44,807
62,395
Investment income
(545)
(1,067)
Loss on disposal of tangible fixed assets
12,316
19,731
Depreciation and impairment of tangible fixed assets
73,202
85,449
Other gains and losses
-
179
Movements in working capital:
Decrease in stocks
15,968
98,176
Decrease in debtors
24,408
485,322
Increase in creditors
66,131
671,167
Cash generated from operations
774,223
1,855,867
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