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REGISTERED NUMBER: 12481998 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 September 2025

for

Bruton Knowles Limited

| Bruton Knowles Limited (Registered number: 12481998) |

Contents of the Consolidated Financial Statements

for the Year Ended 30 September 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 5 |

| Report of the Independent Auditors | 6 |

| Consolidated Statement of Income and Retained Earnings | 9 |

| Consolidated Balance Sheet | 10 |

| Company Balance Sheet | 11 |

| Consolidated Cash Flow Statement | 12 |

| Notes to the Consolidated Cash Flow Statement | 13 |

| Notes to the Consolidated Financial Statements | 14 |

| Bruton Knowles Limited |

Company Information

for the Year Ended 30 September 2025

| DIRECTORS: | Mr J Bailey

| Mr N Billingsley

| Mr G C Emmerson

| Mr I S Pitt

| REGISTERED OFFICE: | Olympus House Olympus Park

| Quedgeley

| Gloucester

| Gloucestershire

| GL2 4NF

| REGISTERED NUMBER: | 12481998 (England and Wales)

| AUDITORS: | Franklins Accountancy Audit & Tax Limited

| 18 St Christopher's Way

| Pride Park

| Derby

| Derbyshire

| DE24 8JY

| Bruton Knowles Limited (Registered number: 12481998) |

Group Strategic Report

for the Year Ended 30 September 2025

The directors present their strategic report for the year ended 30 September 2025.

The principal activity of the group during the year was chartered surveying and property consultancy.

The group operates throughout the UK from its Bruton Knowles Limited Head Office in Gloucester with further offices in Birmingham, Bristol, Cardiff, Exeter, Glasgow, Guildford, Leeds, Leominster, Manchester, Newcastle, Nottingham, Bury St Edmunds and Wimborne.

REVIEW OF BUSINESS

The directors are satisfied with the performance for this financial period.

The group's results for the period show a Turnover of £16.811m, Gross profits of £6.583m and Profits before tax of £3.176m.

At the end of the year the group had net assets of £2.357m.

The group has considerable financial resources and contracts with a number of clients across different geographic areas. Accordingly, we believe that the company is well placed to manage its business risks successfully and look forward to continued growth in 2026 and beyond.

| Bruton Knowles Limited (Registered number: 12481998) |

Group Strategic Report

for the Year Ended 30 September 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The group is exposed to a variety of financial risks which result from both its operating and investing activities. The directors are responsible for co-ordinating the group's risk management and focus on actively securing the group's short to medium-term cash flows. The directors have identified the following key business risks that could have a material impact on future performance of the group and the controls in place to manage this risk:

Market Risk

The group operates in a highly competitive marketplace. To remain competitive the group employs a strategy which focuses on the following key points:

- Continuous review of its systems, people and processes to ensure investment and change is made where necessary to allow the group to adapt to changing market conditions.

- Continued focus on maintaining strong links with clients and striving to deliver enhanced client service.

- Maintaining robust professional standards procedures.

Contractual Risk

Mispricing contracts and contractual disputes pose a financial and reputational risk to the group. This is controlled by following robust appraisal processes and undertaking appropriate levels of due diligence prior to engagement.

Liquidity & Financing Risk

The group utilises a mixture of retained earnings and banking facilities to finance its operation. The group manages its liquidity risk through the use of short and long term cash flow forecasts. The terms of the current facility are considered to be adequate for the foreseeable future.

The company does not actively engage in the trading of financial assets and has no financial derivatives.

Health & Safety Risk

The directors fully recognise that a breach in Health & Safety compliance could pose a risk to the going concern of the company and that the group's activities are inherently complex and potentially hazardous. The result of a breach could result in injury to employees, subcontractors, or members of the public or damage to the environment. This in turn could expose the group to significant potential liability, reputational damage and loss of key accreditation. Detailed policies and procedures exist to minimise such risks and are subject to regular review by the group's directors.

Based on the above the directors have concluded that it is appropriate for the financial statements to be prepared on the going concern basis.

Cyber security risk

The directors recognise the potential for financial loss, operational disruption or reputational damage caused by a failure of information technology systems caused by cyber-attacks. To reduce this risk maintenance of Cyber Essentials certification is prioritised supported by protection from best-in-class protection software and continual business systems testing for prevention and incident recovery scenarios.

| Bruton Knowles Limited (Registered number: 12481998) |

Group Strategic Report

for the Year Ended 30 September 2025

EQUALITY AND DIVERSITY

The company is committed to promoting equality and diversity in its own policies, practices and procedures and in those areas in which it has influence. This applies to the company's professional dealings with employees as well as clients, suppliers and other third parties.

ON BEHALF OF THE BOARD:

Mr J Bailey - Director

26 March 2026

| Bruton Knowles Limited (Registered number: 12481998) |

Report of the Directors

for the Year Ended 30 September 2025

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

DIVIDENDS

An interim dividend of £95.07606 per share was paid on the Ordinary £1 shares on 21 March 2025. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 30 September 2025 will be £ 950,000 .

DIRECTORS

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

Mr J Bailey

Mr N Billingsley

Mr G C Emmerson

Mr I S Pitt

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group 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;

- | 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 directors are 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 each director 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.

ON BEHALF OF THE BOARD:

Mr J Bailey - Director

26 March 2026

Report of the Independent Auditors to the Members of

Bruton Knowles Limited

Opinion

We have audited the financial statements of Bruton Knowles Limited (the 'company') for the year ended 30 September 2025 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, 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). The subsidiary company has not been audited as the directors have relied upon the exemption from an audit under S479A of the Companies Act 2006.

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 30 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 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 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, 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 Directors 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 Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Bruton Knowles Limited

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 Directors.

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 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 Statement of Directors' Responsibilities set out on page five, 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 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 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 directors either intend to liquidate the group or the parent company or to cease operations, or have 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.

Report of the Independent Auditors to the Members of

Bruton Knowles Limited

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.

Mr Collin Franklin (Senior Statutory Auditor)

for and on behalf of Franklins Accountancy Audit & Tax Limited

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

26 March 2026

| Bruton Knowles Limited (Registered number: 12481998) |

Consolidated

Statement of Income and

Retained Earnings

for the Year Ended 30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 4 | 16,810,577 |  | 14,114,981 |  |

Cost of sales | 10,227,113 |  | 9,225,528 |  |

GROSS PROFIT | 6,583,464 |  | 4,889,453 |  |

Administrative expenses | 3,441,118 |  | 3,095,992 |  |

3,142,346 |  | 1,793,461 |  |

Other operating income | 7,147 |  | - |  |

OPERATING PROFIT | 6 | 3,149,493 |  | 1,793,461 |  |

Interest receivable and similar income | 68,835 |  | 15,027 |  |

3,218,328 |  | 1,808,488 |  |

Interest payable and similar expenses | 8 | 41,955 |  | 50,324 |  |

PROFIT BEFORE TAXATION | 3,176,373 |  | 1,758,164 |  |

Tax on profit | 9 | 836,569 |  | 519,413 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,339,804 |  | 1,238,751 |  |

Retained earnings at beginning of year | 957,422 |  | (1,329 | ) |

Dividends | 11 | (950,000 | ) | (280,000 | ) |

RETAINED EARNINGS FOR THE GROUP AT END OF YEAR | 2,347,226 |  | 957,422 |  |

Profit attributable to:

Owners of the parent | 2,339,804 |  | 1,238,751 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Consolidated Balance Sheet

30 September 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | 164,186 |  | 10,625 |  |

Tangible assets | 13 | 188,846 |  | 330,255 |  |

Investments | 14 | - |  | - |  |

353,032 |  | 340,880 |  |

CURRENT ASSETS

Debtors | 15 | 4,848,188 |  | 4,194,779 |  |

Cash at bank | 842,872 |  | 762,133 |  |

5,691,060 |  | 4,956,912 |  |

CREDITORS

Amounts falling due within one year | 16 | 3,610,974 |  | 4,266,049 |  |

NET CURRENT ASSETS | 2,080,086 |  | 690,863 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,433,118 |  | 1,031,743 |  |

PROVISIONS FOR LIABILITIES | 19 | 75,892 |  | 64,321 |  |

NET ASSETS | 2,357,226 |  | 967,422 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 10,000 |  | 10,000 |  |

Retained earnings | 21 | 2,347,226 |  | 957,422 |  |

SHAREHOLDERS' FUNDS | 2,357,226 |  | 967,422 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2026 and were signed on its behalf by:

Mr J Bailey - Director

| Bruton Knowles Limited (Registered number: 12481998) |

Company Balance Sheet

30 September 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | 164,186 |  | 10,625 |  |

Tangible assets | 13 | 184,563 |  | 330,255 |  |

Investments | 14 | 1,506 |  | - |  |

350,255 |  | 340,880 |  |

CURRENT ASSETS

Debtors | 15 | 4,848,188 |  | 4,194,779 |  |

Cash at bank | 829,580 |  | 762,133 |  |

5,677,768 |  | 4,956,912 |  |

CREDITORS

Amounts falling due within one year | 16 | 3,595,976 |  | 4,266,049 |  |

NET CURRENT ASSETS | 2,081,792 |  | 690,863 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,432,047 |  | 1,031,743 |  |

PROVISIONS FOR LIABILITIES | 19 | 74,821 |  | 64,321 |  |

NET ASSETS | 2,357,226 |  | 967,422 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 10,000 |  | 10,000 |  |

Retained earnings | 21 | 2,347,226 |  | 957,422 |  |

SHAREHOLDERS' FUNDS | 2,357,226 |  | 967,422 |  |

Company's profit for the financial year | 2,339,804 |  | 1,238,751 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2026 and were signed on its behalf by:

Mr J Bailey - Director

| Bruton Knowles Limited (Registered number: 12481998) |

Consolidated Cash Flow Statement

for the Year Ended 30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,339,299 |  | 1,579,034 |  |

Interest paid | (41,955 | ) | (50,324 | ) |

Tax paid | (689,701 | ) | - |  |

Net cash from operating activities | 607,643 |  | 1,528,710 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (65,072 | ) | (10,625 | ) |

Purchase of tangible fixed assets | (87,167 | ) | (490,358 | ) |

Sale of tangible fixed assets | 1,000 |  | - |  |

Interest received | 68,835 |  | 15,027 |  |

Net cash from investing activities | (82,404 | ) | (485,956 | ) |

Cash flows from financing activities

New loans in year | 550,000 |  | - |  |

Loan repayments in year | (44,500 | ) | - |  |

Amount withdrawn by directors | - |  | (2,266 | ) |

Equity dividends paid | (950,000 | ) | (280,000 | ) |

Net cash from financing activities | (444,500 | ) | (282,266 | ) |

Increase in cash and cash equivalents | 80,739 |  | 760,488 |  |

Cash and cash equivalents at beginning of year | 2 | 762,133 |  | 1,645 |  |

Cash and cash equivalents at end of year | 2 | 842,872 |  | 762,133 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 30 September 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 3,176,373 |  | 1,758,164 |  |

| Depreciation charges | 146,230 |  | 160,103 |  |

| Profit on disposal of fixed assets | (1,000 | ) | - |  |

| Finance costs | 41,955 |  | 50,324 |  |

| Finance income | (68,835 | ) | (15,027 | ) |

3,294,723 |  | 1,953,564 |  |

| Increase in trade and other debtors | (653,409 | ) | (4,184,779 | ) |

| (Decrease)/increase in trade and other creditors | (1,302,015 | ) | 3,810,249 |  |

| Cash generated from operations | 1,339,299 |  | 1,579,034 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 30 September 2025

| 30.9.25 |  | 1.10.24

£ | £ |

| Cash and cash equivalents | 842,872 |  | 762,133 |  |

| Year ended 30 September 2024

| 30.9.24 |  | 1.10.23

£ | £ |

| Cash and cash equivalents | 762,133 |  | 1,645 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

| At 1.10.24 | Cash flow | At 30.9.25

£ | £ | £ |

| Net cash |

| Cash at bank | 762,133 |  | 80,739 |  | 842,872 |  |

762,133 |  | 80,739 |  | 842,872 |  |

| Debt

| Debts falling due within 1 year | - |  | (505,500 | ) | (505,500 | ) |

- |  | (505,500 | ) | (505,500 | ) |

| Total | 762,133 |  | (424,761 | ) | 337,372 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements

for the Year Ended 30 September 2025

1. | STATUTORY INFORMATION

| Bruton Knowles Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the use of fair values for certain financial instruments in accordance with the accounting policies set out below.

| Going concern

| The group has net current assets of £2,080,086 as at 30 September 2025 and made a profit before tax of £3,176,373 for the year then ended. The cash balance as at the year end was £842,872 with short term external borrowings of £505,500.

| The directors are confident that with the current trading performance, expected growth, specifically in the Utilities and Infrastructure faculty, and a focus on cost management and operational efficiencies, the group will have sufficient funds to continue to meet its liabilities as they fall due for at least the next 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

| Basis of consolidation

| The consolidated financial statements include the results of the company and its subsidiary undertaking (the 'group') as if they formed a single entity. Intercompany balances and transactions are therefore eliminated in full. The results of the subsidiary undertaking are included in the consolidated statement of income and retained earnings from the date that control commences until the date that control ceases. Control is established when the company has the power to govern the operating and financial policies of an entity so as to obtain benefits from its activities. In assessing control, the group takes into consideration potential voting rights that are currently exercisable.

| The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of income and retained earnings in these financial statements. The profit after tax of the parent company for the year was £2,339,804.

| Turnover

| Turnover for services represents the fair value of professional services provided during the period on client assignments. Fair value reflects the amount expected to be recoverable from clients and is based on time spent, expertise and skills provided, and expenses incurred. Fee income is stated net of Value Added Tax.

| Professional services provided to clients during the period which, at the balance sheet date, have not been invoiced to clients, have been recognised as fee income in accordance with Section 23 Revenue of Financial Reporting Standard 102. Fee income recognised in this manner is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement.

| Unbilled fee income is included as amounts recoverable on contracts within debtors. Amounts recoverable on contracts are stated at fair value where the right to consideration has been obtained. Provision is made against unbilled amounts on those engagements where the right to receive payments is contingent on factors outside the control of the company. Contingent fee income (over and above any agreed minimum fee which is recognised as above) is recognised in the period when the contingent event occurs.

| Goodwill

| Goodwill on consolidation in connection with the purchase of a subsidiary during the year has been fully amortised immediately due to the trade and trading assets of the subsidiary acquired being transferred to Bruton Knowles Limited within the year. It is the intention for the subsidiary to be struck off the register.

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Computer software is being amortised evenly over its estimated useful life of either three or five years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Equipment | - | 20% on cost

| Fixtures and fittings | - | 20% on cost

| Computer equipment | - | 33% on cost and 20% on cost

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

| 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.

| All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Financial assets and liabilities are offset in the balance sheet when, and only when, there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

| Debt instruments which meet the conditions of FRS 102 section 11.9 are subsequently measured at amortised cost using the effective interest method.

| Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

| Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

| Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.

| Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

| Fair value measurement

| The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

| Impairment of assets

| Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

| - Non-financial assets

| An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| - Financial assets

| For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate, where this effect is deemed material.

| For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

| Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

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

| Provisions

| A provision is recognised in the balance sheet when the company has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Legal advice is sought where appropriate, Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| In the application of the company's accounting policies, which are described in note 1, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| The following are the critical judgements, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

| Revenue recognition - amounts recoverable on contracts

| The value of accrued revenue is derived on the basis of estimations and assumptions regarding the fair value of unbilled time at the period-end, having regard to the company's accounting policy for revenue recognition.

| lmpairment of debtors, other debtors and amounts recoverable on contracts

| The company makes an estimate of the recoverable value of debtors, other debtors and amounts recoverable on contracts. When assessing impairment of trade receivables, other debtors and amounts recoverable on contracts, management considers factors including the current credit rating of the debtor, the ageing profile and historic experience.

| Impairment of fixed asset investments

| Fixed asset investments are assessed annually for indicators of impairment. When events ot changes in circumstances indicate the carrying amount may not be recoverable, an impairment loss is recognised in profit or loss.

4. | TURNOVER

| The turnover and profit before taxation are attributable to the principal activities of the group.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 16,810,577 |  | 14,114,981 |  |

16,810,577 |  | 14,114,981 |  |

5. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 8,505,345 |  | 7,819,107 |  |

| Social security costs | 903,822 |  | 707,647 |  |

| Other pension costs | 554,153 |  | 494,827 |  |

9,963,320 |  | 9,021,581 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

5. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Property services | 142 |  | 136 |  |

| Administration | 20 |  | 20 |  |

162 |  | 156 |  |

| The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2024 - NIL).

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Directors' salaries |  |  | 62,806 |  | 22,909 |  |

| Directors' pension contributions |  |  | 240,000 |  | 200,000 |  |

| Directors' benefits in kind |  |  | 25,402 |  | 21,321 |  |

|  | 328,208 |  | 244,230 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Other operating leases | 244,374 |  | 287,953 |  |

| Depreciation - owned assets | 97,588 |  | 160,103 |  |

| Profit on disposal of fixed assets | (1,000 | ) | - |  |

| Goodwill amortisation | 245,622 |  | - |  |

| Computer software amortisation | 48,238 |  | - |  |

7. | AUDITORS' REMUNERATION

| 2025 |  | 2024

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 32,500 |  | 17,334 |  |

| Auditors' remuneration for non audit work | 5,601 |  | 5,484 |  |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 33,579 |  | 50,324 |  |

| Other interest | 8,376 |  | - |  |

41,955 |  | 50,324 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

9. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 826,328 |  | 455,092 |  |

| Deferred tax | 10,241 |  | 64,321 |  |

| Tax on profit | 836,569 |  | 519,413 |  |

| UK corporation tax has been charged at 25 % .

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 3,176,373 |  | 1,758,164 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 794,093 |  | 439,541 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2,330 |  | 13,496 |  |

| Depreciation in excess of capital allowances | 52,407 |  | 3,653 |  |

| Utilisation of tax losses | (22,303 | ) | (1,598 | ) |

| Prior period tax difference of calculated tax vs pro-rated tax to 31/12/24 re subsidiary | (199 | ) | - |  |

| Deferred tax movement | 10,241 |  | 64,321 |  |

| Total tax charge | 836,569 |  | 519,413 |  |

10. | INDIVIDUAL INCOME STATEMENT

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

11. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each |

| Interim | 950,000 |  | 280,000 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

12. | INTANGIBLE FIXED ASSETS

| Group

| Computer |

| Goodwill |  | software |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | - |  | 10,625 |  | 10,625 |  |

| Additions | 245,622 |  | 65,072 |  | 310,694 |  |

| Reclassification/transfer | - |  | 205,399 |  | 205,399 |  |

| At 30 September 2025 | 245,622 |  | 281,096 |  | 526,718 |  |

| AMORTISATION

| Amortisation for year | 245,622 |  | 48,238 |  | 293,860 |  |

| Reclassification/transfer | - |  | 68,672 |  | 68,672 |  |

| At 30 September 2025 | 245,622 |  | 116,910 |  | 362,532 |  |

| NET BOOK VALUE

| At 30 September 2025 | - |  | 164,186 |  | 164,186 |  |

| At 30 September 2024 | - |  | 10,625 |  | 10,625 |  |

| Company

| Computer

| software

£ |

| COST

| At 1 October 2024 | 10,625 |  |

| Additions | 65,072 |  |

| Reclassification/transfer | 205,399 |  |

| At 30 September 2025 | 281,096 |  |

| AMORTISATION

| Amortisation for year | 48,238 |  |

| Reclassification/transfer | 68,672 |  |

| At 30 September 2025 | 116,910 |  |

| NET BOOK VALUE

| At 30 September 2025 | 164,186 |  |

| At 30 September 2024 | 10,625 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

13. | TANGIBLE FIXED ASSETS

| Group

| Fixtures |

| and |  | Computer |

| Equipment |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 October 2024 | - |  | 29,173 |  | 461,185 |  | 490,358 |  |

| Additions | 5,739 |  | 4,631 |  | 82,536 |  | 92,906 |  |

| Reclassification/transfer | - |  | - |  | (205,399 | ) | (205,399 | ) |

| At 30 September 2025 | 5,739 |  | 33,804 |  | 338,322 |  | 377,865 |  |

| DEPRECIATION

| At 1 October 2024 | - |  | 8,793 |  | 151,310 |  | 160,103 |  |

| Charge for year | 1,456 |  | 7,771 |  | 88,361 |  | 97,588 |  |

| Reclassification/transfer | - |  | - |  | (68,672 | ) | (68,672 | ) |

| At 30 September 2025 | 1,456 |  | 16,564 |  | 170,999 |  | 189,019 |  |

| NET BOOK VALUE

| At 30 September 2025 | 4,283 |  | 17,240 |  | 167,323 |  | 188,846 |  |

| At 30 September 2024 | - |  | 20,380 |  | 309,875 |  | 330,255 |  |

| Company

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | 29,173 |  | 461,185 |  | 490,358 |  |

| Additions | 4,631 |  | 82,536 |  | 87,167 |  |

| Reclassification/transfer | - |  | (205,399 | ) | (205,399 | ) |

| At 30 September 2025 | 33,804 |  | 338,322 |  | 372,126 |  |

| DEPRECIATION

| At 1 October 2024 | 8,793 |  | 151,310 |  | 160,103 |  |

| Charge for year | 7,771 |  | 88,361 |  | 96,132 |  |

| Reclassification/transfer | - |  | (68,672 | ) | (68,672 | ) |

| At 30 September 2025 | 16,564 |  | 170,999 |  | 187,563 |  |

| NET BOOK VALUE

| At 30 September 2025 | 17,240 |  | 167,323 |  | 184,563 |  |

| At 30 September 2024 | 20,380 |  | 309,875 |  | 330,255 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

14. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| Additions | 394,614 |  |

| Impairments | (393,108 | ) |

| At 30 September 2025 | 1,506 |  |

| NET BOOK VALUE

| At 30 September 2025 | 1,506 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiary

| Haarer Goss Limited

| Registered office: Olympus House Olympus Park, Quedgeley, Gloucester, GL2 4NF

| Nature of business: Chartered surveying and property consultancy

| %

| Class of shares: | holding |

| Ordinary A | 100.00 |

| Ordinary B | 100.00 |

2025 |  |

£ |  |

| Aggregate capital and reserves | 1,506 |  |

| Loss for the year | (155,017 | ) |

| The subsidiary was purchased on 29 October 2024. The results of the subsidiary have been fully included within the consolidated accounts for the group.

| The subsidiary has claimed audit exemption for the period to 30 September 2025 under 479A of the companies Act 2006.

15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 3,039,816 |  | 2,468,700 |  | 3,039,816 |  | 2,468,700 |  |

| Amounts recoverable on contract | 602,131 |  | 717,626 |  | 602,131 |  | 717,626 |  |

| Other debtors | 34,173 |  | 36,796 |  | 34,173 |  | 36,796 |  |

| Prepayments and accrued income | 1,172,068 |  | 971,657 |  | 1,172,068 |  | 971,657 |  |

4,848,188 |  | 4,194,779 |  | 4,848,188 |  | 4,194,779 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 17) | 505,500 |  | - |  | 505,500 |  | - |  |

| Trade creditors | 235,397 |  | 1,015,506 |  | 235,397 |  | 1,015,506 |  |

| Amounts owed to group undertakings | - |  | - |  | 28,885 |  | - |  |

| Corporation tax | 596,532 |  | 455,092 |  | 563,139 |  | 455,092 |  |

| Social security and other taxes | 221,152 |  | 187,958 |  | 221,152 |  | 187,958 |  |

| Value added tax | 586,648 |  | 836,995 |  | 578,017 |  | 836,995 |  |

| Other creditors | 518,825 |  | 991,929 |  | 518,825 |  | 991,929 |  |

| Contingent liability | 60,000 |  | - |  | 60,000 |  | - |  |

| Accruals and deferred income | 886,920 |  | 778,569 |  | 885,061 |  | 778,569 |  |

3,610,974 |  | 4,266,049 |  | 3,595,976 |  | 4,266,049 |  |

17. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due within one year or on | demand: |

| Bank loans | 505,500 |  | - |  | 505,500 |  | - |  |

| The above loan analysis is in relation to one loan entered into by the company within the current accounting period. The loan term is twelve months vary with repayments being paid monthly with an applicable interest rate of 2.50% per annum.

| The HSBC loan has a security by way of debenture over all assets of the company.

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 223,112 |  | 254,363 |  |

| Between one and five years | 273,456 |  | 422,986 |  |

496,568 |  | 677,349 |  |

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

18. | LEASING AGREEMENTS - continued

| Company

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 223,112 |  | 254,363 |  |

| Between one and five years | 273,456 |  | 422,986 |  |

496,568 |  | 677,349 |  |

19. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax | 75,892 |  | 64,321 |  | 74,821 |  | 64,321 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 64,321 |  |

| Charge to Income Statement during year | 11,571 |  |

| Balance at 30 September 2025 | 75,892 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 64,321 |  |

| Charge to Income Statement during year | 10,500 |  |

| Balance at 30 September 2025 | 74,821 |  |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 9,992 | Ordinary | £1 | 9,992 |  | 9,992 |  |

| 2 | A Dividend | £1 | 2 |  | 2 |  |

| 2 | B Dividend | £1 | 2 |  | 2 |  |

| 2 | C Dividend | £1 | 2 |  | 2 |  |

| 2 | D Dividend | £1 | 2 |  | 2 |  |

10,000 |  | 10,000 |  |

| The above classes of shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

21. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 October 2024 | 957,422 |  |

| Profit for the year | 2,339,804 |  |

| Dividends | (950,000 | ) |

| At 30 September 2025 | 2,347,226 |  |

| Company

| Retained

| earnings

£ |

| At 1 October 2024 | 957,422 |  |

| Profit for the year | 2,339,804 |  |

| Dividends | (950,000 | ) |

| At 30 September 2025 | 2,347,226 |  |

22. | PENSION COMMITMENTS

| 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 funds under the control of the trustees. Where there are employees who leave the scheme prior to vesting fully in the contributions, the contributions payable by the company are reduced by the amount of forfeited contributions. Contributions made by the group during the period amounted to £554,153. At 30th September 2025 there were outstanding contributions payable to the scheme of £52,000.

23. | CONTINGENT LIABILITIES

| Contingent liabilities comprise of payments due to the vendors of the subsidiary company purchased on 29 October 2024, being £30,000 due on both the first and second anniversary of purchase, based on the EBITDA of the subsidiary on each anniversary. Both anniversary payments are expected to be made and so full provision for this liability is included in the financial statements.

| Bruton Knowles Limited (Registered number: 12481998) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 September 2025

24. | RELATED PARTY DISCLOSURES

| During the period a company under common control with common directors held a related party balance with Bruton Knowles Limited. At the end of the period Bruton Knowles Limited were owed a balance of £23,864 (2024:- £53,654 Cr) from the related party. The outstanding balance has been provided free from interest and is repayable on demand.

| During the period a company under common control with common directors held a related party balance with Bruton Knowles Limited. At the end of the period Bruton Knowles Limited owed a balance of £Nil (2024: £56,635) to the related party. The outstanding balance has been provided free from interest and is repayable on demand.

| The balance outstanding on interest free loans provided from a company where Mr J Bailey is a director and has control amounted to £77,816 (2024: £68,575).

| The balance outstanding on interest free loans provided from a company where Mr N Billingsley is a director and has control amounted to £91,203 (2024: £85,942).

| The balance outstanding on interest free loans provided from a company where Mr G Emmerson is a director and has control amounted to £133,610 (2024: 141,580).

| The balance outstanding on interest free loans provided from a company where Mr I Pitt is a director and has control amounted to £115,690 (2024: £150,139).

25. | PARENTAL GUARANTEE

| For the financial year ended 30 September 2025, the subsidiary company, Haarer Goss Limited (company number 05696735), is exempt from the requirements of the Companies Act 2006 relating to the audit of individual accounts by virtue of s479A of the Act. The Company (Bruton Knowles Limited) guarantees all outstanding liabilities of this subsidiary as of 30 September 2025.