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

The company’s results for the 12 month period comprised turnover of £4.9m (2024 as restated - £24.3m), a gross profit of £0.9m (2024 as restated - £2.7m), operating profit of £0.6m (2024 as restated – £0.03m) and profit on ordinary activities before taxation of £1.2m (2024 as restated - £2.9m).

The reduction in turnover for the period is significant but reflects a deliberate and carefully managed change in strategic direction over the past 12 months, rather than a decline in the underlying strength of the business. Throughout the year the directors prioritised operational efficiency, cash discipline and margin quality over headline revenue. It should also be noted that the 2024 comparative reflects an 18-month trading period, against 12 months in the year under review, which further accounts for the reduction in reported turnover and underlines that this is a change in reporting period and strategic focus rather than a decline in trading.

Over the course of the year, the company has strategically repositioned itself as a true partnership-led business, working closely alongside registered providers, local authorities and private sector partners, and is well aligned to capitalise on recent reforms to the National Planning Policy Framework (NPPF). This repositioning has been underpinned by significant investment during the year in development land and pipeline, and the directors are confident that this investment, together with the strength and scale of the current pipeline, leaves the business well placed to grow turnover back towards pre-pandemic levels of activity in the years ahead.

The directors are pleased to report a strong year end, following a difficult prior period for the wider industry. The disciplined execution, improved forecasting and realignment of strategic priorities described in the previous report have maintained the sustainable profitability. This has been a deliberate transformation: prioritising quality of earnings over volume has produced a leaner, more resilient business, now entering a new phase of strategic delivery focused on quality outcomes and sustainable margins.

While encouraged by this progress, the board remain alert to continuing headwinds. Inflationary pressures which eased earlier in the period, may return as events in Iran place renewed pressure on energy, material and labour costs, and as the Bank of England holds interest rates against earlier expectations of cuts. Where project prices are fixed the business could be exposed to higher input costs and reduced margins; this risk is managed through long-term supplier relationships, careful procurement and rigorous cost control.

The benefits of these changes are now being seen, most notably in the recent planning consents secured at Fordingbridge, Chickenhall and Brentry over the last six months. These will deliver a mix of 148 care units commencing in 2026, with further phases delivering 369 mixed care and housing units thereafter.

The key risks and uncertainties expected to impact the company in the future include:

Housing incentives and supply chain implications

Government-led housing incentives, whether in the form of subsidies, planning reforms, or new-build targets - have the potential to increase demand sharply. While this presents growth opportunities, it also places strain on a supply chain already under pressure. Increased demand for materials and labour could inflate costs and elongate delivery timelines, challenging our ability to meet client expectations efficiently. Strategic partnerships and long-term supplier agreements have proved to be essential in managing these risks both in the short term and longer term.

General risks

The Company faces risks similar the industry in general, including political and economic environments, impact of fluctuating interest rates, consumer and investor confidence, availability of land and challenges associated with the planning system at government and local authority level. These risks are continually assessed as to their impact on short term and long-term performance of the Company, and the Directors have appropriate policies procedures and experience to manage these risks.

The strategy and core strengths remain aligned with the long-established approach: delivering successful partnership-led developments by securing land, expertly managing the planning process, and building out in close collaboration with registered providers local authorities and private sector partners. This end-to-end capability continues to underpin a reputation for reliability, agility and value creation.

Having delivered on its strategy of sustainable and profitable growth over the past year, the focus has been on forming new and deepening existing partnerships in the care and partnership housing sectors. Maintaining a diverse delivery pipeline across these subsectors both mitigates risk and positions the company to capitalise selectively on the most promising opportunities.

This deliberate repositioning as a true partnerships-led business, combined with the scale of investment made during the year in development land and pipeline, gives the directors confidence that the company is well placed to grow turnover back towards pre-pandemic levels over the coming years, particularly as recent planning reforms continue to unlock further opportunities.

The company continues its strategic pivot to prioritise operational efficiency over headline turnover, strengthening margins, reducing exposure to market volatility and investing in the long-term value of its relationships.

Alongside recent amendments to the NPPF and an reintroduction of national housing targets, the business is well positioned to capitalise on its strategic land portfolio. These changes are expected to support a strong and sustainable pipeline of activity in the years ahead, reinforcing the long-term growth prospects.

The diversity of the business model continues to be a source of resilience and differentiation. Its ability to operate across the value chain from land acquisition through to delivery, provides both flexibility and control in a market where certainty is at a premium, an adaptability that will remain crucial as the company navigates a changing economic and regulatory landscape.

Looking ahead, the board is optimistic about the opportunities before the company. The land pipeline is strong, client partnerships are deepening, and the team is both experienced and energised. With a sharpened focus, a balanced portfolio and a clear commitment to quality and trust, the Highwood Group is well positioned to thrive in the next phase of its journey.

Management consider key performance indicators to include: turnover, gross profit, profit on ordinary activities before taxation, number of land transactions, number of homes completed or in contractual process and number of care homes delivered. The values of these key performance indicators can be found in the 'Review of the business' section.

On behalf of the board

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

The principal activity of the company continued to be that of property development.

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

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

The company operates a treasury function which is responsible for managing the liquidity and interest risks associated with the company's activities.

The company's principal financial instruments include bank balances, trade debtors and trade creditors arising directly from its operations.

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Investments of cash surpluses and borrowings are made through financial institutions which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

The directors consider that the company faces the usual pricing risk of any other company operating in a competitive, commercial environment.

The auditor, Fiander ETL, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

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

• select suitable accounting policies and then apply them consistently;

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

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

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

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of strategies and future outlook.

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

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

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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 directors' 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 directors' remuneration specified by law are not made; or

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

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 as 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.

• 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, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation.

We assessed the susceptibility of the group’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.

To address the risk of fraud through management bias and override of controls, we:

• 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 set out in Note 2 were indicative of potential bias.

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation.

• reading the minutes of meetings of those charged with governance.

• enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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

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

Highwood Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Hay Barn, Upper Ashfield Farm, Hoe Lane, Romsey, Hampshire, SO51 9NJ.

The financial statements cover the 12 month year ended 31 December 2025, the prior period covers the 18 month period ending 31 December 2024. The company had decided to change it's prior year reporting period to better reflect it's business cycle. As a result, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1,000.

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

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated into the financial statements of Highwood Group Limited which are consolidated into the financial statements of Highwood Holdings Limited and then consolidated into the ultimate parent Highwood Group Holdings Limited. All sets of consolidated financial statements are available from Companies House.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Highwood Homes Limited is a wholly owned subsidiary of Highwood Group Limited and the results of Highwood Homes Limited are included in the consolidated financial statements of Highwood Group Limited which are available from Companies House. Its registered office is The Hay Barn, Upper Ashfield Farm, Hoe Lane, Romsey, Hampshire SO51 9NJ.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The company recognises turnover on an accruals basis, where the amount of turnover can be reliably measured and it is probable that the future economic benefits will flow to the company.

Revenue from construction contracts is recognised by reference to the value of certified work at the period end.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Stock and work in progress are valued at the lower of cost or net realisable value.

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

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

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

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

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

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

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

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

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

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

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

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

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

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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

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

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

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

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Recognition of revenue and profit is based on judgements made in respect of the ultimate profitability of a contract. Such judgements are arrived at through the use of estimation in relation to costs and value of work performed to date and to be performed in bringing contracts to completion. These estimates are made by reference to recovery of pre-contracts costs, variations in work scopes, claim recoveries and expected contract costs to complete.

The company has appropriate control procedures to ensure all estimates are determined on a consistent basis and subject to review and authorisation. The total value of accrued income recognised on contracts is £10,000 (2024 restated: £4,564,948). The amount included in cost accruals which has been estimated based on the expected profit margin is £679,835 (2024 restated: £5,110,113).

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

All employees and directors are employed and remunerated through other group companies. Costs are recharged from these companies to the group company which utilises the employees services. During the period £1,331,567 (2024: £2,119,535) of costs were recharged to Highwood Homes, representing the value of services provided to this company.

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 5 (2024 - 7).

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

Details of the company's subsidiaries at 31 December 2025 are as follows:

During the year ended 31 December 2025, the company acquired the 100% shareholdings in Highwood Ventures 3 Limited, Highwood Ventures 18 Limited and Highwood Ventures 19 Limited.

This is to recognise the transfer of these companies from being directly a subsidiary of the ultimate parent holding company, Highwood Group Holdings Limited, to being a subsidiary of Highwood Homes Limited.

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

During the year the company operated loan accounts with other entities under the control of the directors. These loan accounts were interest free and repayable on demand.

At the balance sheet date, the following amounts was owed to the entity by:

Hoe Lane Properties Limited - £150 (2024: £nil)

Hoe Lane Investments Limited - £252,489 (2024: £252,339)

In addition, the company has a loan from CKS Investment Properties Limited. At the balance sheet date the company owed £290,000 (2024 - £500,000), interest was charged during the period totalling £33,797 (2024 - £54,795) in respect of the loan.

The company has taken advantage of the exemptions contained within section 33.1A of FRS102 to not disclose transactions with other group entities that are 100% owned members of the group.

The immediate parent company is Highwood Group Limited, a company incorporated in England and Wales. Its registered office is The Hay Barn, Upper Ashfield Farm, Hoe Lane, Romsey, Hampshire SO51 9NJ and copies of the consolidated financial statements can be obtained from Companies House.

The ultimate parent is Highwood Group Holdings Limited, consolidated accounts can be obtained from Companies House. Its registered office is The Hay Barn, Upper Ashfield Farm, Hoe Lane, Romsey, Hampshire SO51 9NJ.

Revenue relating to a balloon payment on a specific contract has been amended to reflect the inclusion of a retention debtor. The total receipt is unchanged, however, profitability has been reduced in order allocate a proportion of this payment against the retention debtor, which reflects previously recognised income.