ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Registered number: 02101063

MOUNTFIELD BUILDING GROUP LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

MOUNTFIELD BUILDING GROUP LIMITED

COMPANY INFORMATION

Director	G J Read


Registered number	02101063


Registered office	Leytonstone House
	3 Hanbury Drive
	Leytonstone
	London
	E11 1GA


Independent auditors	Barnes Roffe Audit Limited
	Chartered Accountants & Statutory Auditor
	Leytonstone House
	3 Hanbury Drive
	London
	E11 1GA

MOUNTFIELD BUILDING GROUP LIMITED

CONTENTS

	Page
Strategic report	1 - 3
Director's report	4 - 5
Independent auditors' report	6 - 9
Statement of income and retained earnings	10
Balance sheet	11
Statement of changes in equity	12
Notes to the financial statements	13 - 26

MOUNTFIELD BUILDING GROUP LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

Introduction

The director presents the strategic report of Mountfield Building Group Limited ("the Company") for the year ended 31 December 2025.

The principal activities of the Company are specialist construction services including those related to property fabric repair and refurbishment.

Business review

The Company's turnover in 2025 was £14.5m (2024 - £14.7m) and its profit before tax was £1.4m (2024 - £1.6m).

As at 31 December 2025, net assets amounted to £3.0m (2024 - £1.9m).

Financial year ended 2025 amounts to another strong year for the Company as they focus on their core competencies of specialist construction services.

Principal risks and uncertanties

The principal risks and uncertainties facing the Company relate to:

Attraction and retention of key employees

The Company’s future success is substantially dependent on the continued services and performance of its directors, senior management and other key personnel and its ability to continue to attract and retain highly skilled and qualified personnel.

Economic downturn and other macroeconomic factors

The Company's success is substantially dependent on the general level of economic activity and economic conditions in the United Kingdom.

Many of the Company's contracts, including renewals or extensions of previous contracts, are awarded through competitive bidding processes. Any downturn in the economy, or any other macroeconomic factors, either in the UK or globally, may reduce the number of contracts coming up for bidding.

The competitive bidding processes present a number of additional risks, including incurring substantial costs and managerial time to prepare bids and proposals for contracts that the Company may not ultimately win. The Company may face additional competition in the bidding process either from existing competitors or new market entrants.

The Company seeks to mitigate the investment risk in the bidding process by selecting only those tenders for contracts where it believes it has a competitive advantage and where it believes there is significant potential for profitability.

Page 1

MOUNTFIELD BUILDING GROUP LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Principal risks and uncertainties (continued)

Reliance on key customers and clients

The business of the Company is dependent upon the continuing contracts that it has, and relationships that it has developed, with certain customers.

Whilst signed contracts are in place with key customers, the successful completion and timing of contracted projects are not guaranteed and are susceptible to external factors outside of the control of the Company.

Similarly, contracted projects may in some circumstances be susceptible to delays or variation by customers or be affected by unforeseen changes in circumstances relating to the market, technology, legislation, economic or

Reliance on subcontractors

The Company utilises subcontractors on a project-by-project basis to meet contractual obligations. Such projects will rely on the subcontractors performing their duties and obligations, not only in terms of timely delivery but also in terms of their performance obligations. Any non-performance may result in time and cost over-runs on the Company's projects and reduce the value of its returns.

Subcontractors are vetted by senior management and normally engaged to work on closely defined and managed aspects of contracts. Most subcontractors have a long standing trading history with the Company.

Health and safety

The Company undertakes Construction activities, often working within difficult conditions and with heavy machinery which if improperly used could result in personal injury or in extreme cases, fatalities.

The Company takes the health and safety of its employees and clients very seriously and employs Health and Safety advisors on all significant contracts. It also has a firm of Health and Safety Advisors with whom it consults on a regular basis.

Financial risk management, including price, credit, liquidity and cashflows

The Company carefully manages it's cash and liquidity position through forecasting of upcoming payments and
receipts thus managing risks of liquidity and cashflows.

Other risk management strategies are discussed above.

Page 2

MOUNTFIELD BUILDING GROUP LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Financial and other key performance indicators

The director uses a number of performance indicators which are used to manage the business but, as with most businesses, the focus in the Statement of Comprehensive Income at the top level is on sales, margins, staff numbers and overheads compared to budget and the prior year. In the Statement of Financial Position the focus is on managing working capital.

This report was approved by the board on 16 July 2026 and signed on its behalf.

G J Read

Director

Page 3

MOUNTFIELD BUILDING GROUP LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Director's responsibilities statement

The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the the Statement of Income and Retained Earnings of the Company for that period.

In preparing these financial statements, the director is required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

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

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

Results and dividends

The profit for the year, after taxation, amounted to £1,072,161 (2024 - £1,162,006).

The Director does not propose to recommend a final dividend for the year.

Director

The director who served during the year was:

G J Read

Future developments

The Company continues to pursue its core strategy of specialist construction contracts, and developing and nurturing relationships with their key stakeholders.

Page 4

MOUNTFIELD BUILDING GROUP LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:

∙so far as is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙ has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

During the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.

This report was approved by the board on 16 July 2026 and signed on its behalf.

G J Read

Director

Page 5

MOUNTFIELD BUILDING GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOUNTFIELD BUILDING GROUP LIMITED

Opinion

We have audited the financial statements of Mountfield Building Group Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of income and retained earnings, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 Auditors' 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 United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Page 6

MOUNTFIELD BUILDING GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOUNTFIELD BUILDING GROUP LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is 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.

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

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

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

Responsibilities of directors

As explained more fully in the Director's responsibilities statement set out on page 4, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines 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 director is 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 director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Page 7

MOUNTFIELD BUILDING GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOUNTFIELD BUILDING GROUP LIMITED (CONTINUED)

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 an Auditors' 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was a follows:

∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

∙we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector;

∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and ISO
standards;

∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

∙performed analytical procedures to identify any unusual or unexpected relationships;

∙tested journal entries to identify unusual transactions;

∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

∙investigated the rationale behind significant or unusal transactions.

The areas that we identified as being susceptible to misstatement through fraud were:

∙Management bias in the estimates and judgements made; and

∙Management override of controls.

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.

Page 8

MOUNTFIELD BUILDING GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MOUNTFIELD BUILDING GROUP LIMITED (CONTINUED)

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 Auditors' report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' 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.

Andrew May (Senior statutory auditor)

for and on behalf of

Barnes Roffe Audit Limited

Chartered Accountants

Statutory Auditor

Leytonstone House

3 Hanbury Drive

London

E11 1GA

17 July 2026

Page 9

MOUNTFIELD BUILDING GROUP LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£	£


Turnover	4	14,537,316	14,721,127
Cost of sales		(12,165,924)	(11,689,208)
Gross profit		2,371,392	3,031,919
Administrative expenses		(1,032,765)	(1,561,736)
Operating profit		1,338,627	1,470,183
Interest receivable and similar income		119,220	98,551
Interest payable and similar expenses		(8,020)	(3,808)
Profit before tax		1,449,827	1,564,926
Tax on profit		(377,666)	(402,920)
Profit after tax		1,072,161	1,162,006



Retained earnings at the beginning of the year	1,750,441	1,076,240
Profit for the year	1,072,161	1,162,006
Dividends declared and paid	-	(487,805)
Retained earnings at the end of the year	2,822,602	1,750,441

The notes on pages 13 to 26 form part of these financial statements.

Page 10

MOUNTFIELD BUILDING GROUP LIMITED

REGISTERED NUMBER: 02101063

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	10		320,334		304,347
Investments	11		1		1
			320,335		304,348
Current assets
Debtors: amounts falling due within one year	12	3,010,635		3,249,557
Cash at bank and in hand	13	4,260,840		3,304,603
		7,271,475		6,554,160
Creditors: amounts falling due within one year	14	(4,503,818)		(4,869,548)
Net current assets			2,767,657		1,684,612
Total assets less current liabilities			3,087,992		1,988,960
Creditors: amounts falling due after more than one year	15		(62,090)		(35,219)
Provisions for liabilities
Deferred tax			(25,411)		(25,411)
Net assets			3,000,491		1,928,330

Capital and reserves
Called up share capital	18	100	100
Revaluation reserve	19	177,789	177,789
Profit and loss account	19	2,822,602	1,750,441
		3,000,491	1,928,330

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 July 2026.

G J Read

Director

The notes on pages 13 to 26 form part of these financial statements.

Page 11

MOUNTFIELD BUILDING GROUP LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	100	168,200	1,076,240	1,244,540

Profit for the year	-	-	1,162,006	1,162,006
Recognition of deferred tax on revaluation ofproperty	-	(25,411)	-	(25,411)
Uplift on revaluation of property	-	35,000	-	35,000
Dividends: Equity capital	-	-	(487,805)	(487,805)

At 1 January 2025	100	177,789	1,750,441	1,928,330

Profit for the year	-	-	1,072,161	1,072,161
At 31 December 2025	100	177,789	2,822,602	3,000,491

The notes on pages 13 to 26 form part of these financial statements.

Page 12

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Mountfield Building Group Limited (the 'Company') is a private company limited by shares and incorporated in England and Wales. The Company's principal business is that of specialist construction services. The Company's registered office is located at Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Mountfield Holdings Group Limited as at 31 December 2025 and these financial statements may be obtained from Companies House.

2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

2.4

Going concern

The financial statements have been prepared on the going concern basis.

Page 13

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Revenue

Turnover is measured by reference to the stage of completion of the construction contract activity.

The Company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entities and when specific criteria have been met as described below.

Revenue is stated exclusive of VAT.

Construction contracts

Turnover is recognised relative to the stage of completion of the contract. The stage of completion is determined by the works completed and certfied to date. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer.

Profit on construction contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.

Turnover is recognised relative to the stage of completion of the contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer.

Full provision is made for loss making contracts in the year in which they are first foreseen.

2.6

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

2.7

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 14

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following bases:

Freehold land and property	-	2%	Straight line
Plant and equipment	-	10%	reducing balance
Motor vehicles	-	25%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 15

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 16

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.17

Financial instruments (continued)

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in accordance with FRS102 requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, incomeand expenses. The estimates and associated assumptions are based on historical experience and factors that arebelieved to be reasonable under the circumstances, the results of which form the basis of making judgements aboutcarrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates. Estimates and assumptions are reviewed on an ongoing basis and any revision to estimates or assumptions are recognised in the period in which they are revised and in future periods affected.

Accounting for construction contracts

In accordance with FRS102:17 Revenue on Construction Contracts, management is required to estimate total expected contract revenue and costs and the percentage of contract completion in determining the appropriate profit to recognise in the period. The Company uses the work of surveyors to determine accurately the level of work that has been completed by the year-end. The Company also has appropriate control procedures to ensure that all estimates are determined on a consistent basis and are subject to appropriate review and authorisation.

Revaluation of tangible fixed assets

In accordance with FRS102:23, the company accounts for freehold property under the revaluation model. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period. Judgements and estimates are required to determine this fair value.

Page 17

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

	Revenue from construction contracts	14,537,316	14,721,127

All turnover arose within the United Kingdom.

Fees payable to the Company's auditors for the audit of the Company's financial statements

18,000

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Wages and salaries	1,066,814	1,524,047
Social security costs	146,159	196,285
Cost of defined contribution scheme	23,576	22,771
	1,236,549	1,743,103

The average monthly number of employees, including the director, during the year was as follows:

	2025	2024
	No.	No.

Employees	10	10
Directors	1	1

	11	11

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MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	Director's remuneration
		2025	2024
		£	£

	Director's emoluments	182,000	548,667

Corporation tax
Current tax on profits for the year	373,330	403,528
Adjustments in respect of previous periods	4,336	(608)
	377,666	402,920

Total current tax	377,666	402,920

Profit on ordinary activities before tax

1,449,827

1,564,926

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	362,457	391,232
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	15,209	11,688
Total tax charge for the year	377,666	402,920

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 19

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	Dividends
		2025	2024
		£	£

Dividends paid on equity share capital

487,805

10.	Tangible fixed assets

	Freehold land and property	Plant and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2025	250,000	62,844	106,086	418,930
Additions	-	-	61,322	61,322
Disposals	-	-	(53,990)	(53,990)
At 31 December 2025	250,000	62,844	113,418	426,262
Depreciation
At 1 January 2025	-	45,755	68,828	114,583
Charge for the year on owned assets	-	1,709	103	1,812
Charge for the year on financed assets	-	-	18,215	18,215
Disposals	-	-	(28,682)	(28,682)
At 31 December 2025	-	47,464	58,464	105,928
Net book value
At 31 December 2025	250,000	15,380	54,954	320,334
At 31 December 2024	250,000	17,089	37,258	304,347

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


	Motor vehicles	54,648	36,850

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MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Cost or valuation at 31 December 2025 is as follows:

			Land and buildings
			£

		At cost	63,375
		At valuation:
		Fair value as at 31 December 2024	186,625

			250,000


Cost	63,375	63,375
Accumulated depreciation	(19,275)	(18,615)
Net book value	44,100	44,760

11.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 January 2025	1
	At 31 December 2025	1

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Class of shares	Holding

MBG Construction Limited

Leytonstone House, London, E11 1GA

Ordinary

100%

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MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Subsidiary undertaking (continued)

	The aggregate of the share capital and reserves as at 31 December 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
	Name	Aggregate of share capital and reserves	Profit/(Loss)

MBG Construction Limited

1,185,825

163,053

Page 22

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.

Debtors

					2025	2024
					£	£


Trade debtors	1,197,015	1,486,776
Amounts owed by group undertakings	1,651,792	1,647,348
Other debtors	73,175	56,812
Prepayments and accrued income	68,886	56,313
Amounts recoverable on long term contracts	19,767	2,308
	3,010,635	3,249,557

13.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	4,260,840	3,304,603

14.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	808,077	901,977
Amounts owed to group undertakings	32,151	73,943
Corporation tax	217,211	403,453
Other taxation and social security	745,955	512,459
Hire purchase contracts and finance leases	21,668	13,359
Other creditors	24,788	158,837
Accruals and deferred income	2,653,968	2,805,520
	4,503,818	4,869,548

15.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Hire purchase contracts and finance leases	62,090	35,219

Page 23

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Within one year	21,668	13,360
Between 1-5 years	62,090	35,219
	83,758	48,579

The hire purchase creditors are secured against the underlying assets to which they relate.

17.	Deferred taxation

		2025
		£

	At beginning of year	(25,411)
	At end of year	(25,411)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

On revaluation of property

(25,411)

18.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares shares of £1.00 each	100	100

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends or voting rights.

Page 24

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

19.

Reserves

Revaluation reserve

The revaluation reserve includes the accumulated uplift on the revaluation of assets held under the revaluation model, namely freehold property, net of any deferred tax concequences.

Profit and loss account

The profit and loss account includes the accumlated earnings of the company, net of any equity dividends paid.

20.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £23,576 (2024 - £22,771). Contributions totalling £2,604 (2024 - £2,120) were payable to the fund at the balance sheet date and are included in creditors.

Not later than 1 year	453	1,132
Later than 1 year and not later than 5 years	-	1,585
	453	2,717

22.	Related party transactions
	Included within Other Debtors is a balance of £66,449 owed by (2024 - £50,086) the director and key management personel. Advances were made during the year of £15,138. The Company has not disclosed transactions and balances with other companies wholly owned within the group, as entitled under 33.1A of FRS102.

23.	Post balance sheet events

There have been no post balance sheet events.

Page 25

MOUNTFIELD BUILDING GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

24.	Controlling party

The ultimate parent company is Mountfield Holdings Group Limited. This company was incorporated in October 2024 and is preparing consolidated financial statements as at 31 December 2025. The consolidated financial statements may be obtained from Companies House.

The immediate parent company is Mountfield Holdings Limited.

The registered office of these companies is Leytonstone House, London, E11 1GA, and they are incorporated in England and Wales.

The ultimate controlling party is G J Read.

Page 26